Facility Management Services in Saudi Arabia to Cross $76,244.9 Million Revenue by 2030: P&S Intelligence

NEW YORK, Oct. 1, 2020 /PRNewswire/ --  According to the market research report published by P&S Intelligence, with the growth of the construction industry in the kingdom, the Saudi Arabia facility management market is predicted to cross $76,244.9 million by 2030, from $32,480.4 million in 2019, at a 9.3% CAGR between 2020 and 2030. The Smart City initiative launched by the Saudi government in 2017 has been giving a strong push to its construction sector. Under the initiative, the government plans to install smart parking, smart cameras, smart lighting system, smart solid waste disposal, and environmental pollution monitoring tools in five Saudi cities. In addition, an investment of $500 billion in infrastructure development has been planned under Saudi Vision 2030.

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The Saudi Arabia facility management market faced some hurdles in the wake of COVID-19, as most commercial settings, such as malls, hotels, theaters, and recreational centers, were closed. In addition, even entry to mosques was barred, and the Hajj pilgrimage was put in a limbo, to curtail the spread, which significantly reduced the requirement for facility management services. But, since the kingdom has now lifted the lockdown, the market is expected to pick up again.

The outsourced bifurcation, on the basis of mode, is projected to experience the higher CAGR in the Saudi Arabia facility management market, of 9.9%, in the immediate future. The growing demand for such services from the public sector, and the fact that by outsourcing such activities, companies are free to focus more on their core business areas, are compelling companies to hire third-party companies for such services at their premises.

Browse report overview with COVID-19 impact analysis on Saudi Arabia Facility Management Market Research Report: By Service (Property {HVAC maintenance, Mechanical and electrical maintenance}, Cleaning, Security, Catering, Support, Environmental Management), End User (Commercial, Industrial, Residential), Mode (In-House, Outsourced {Integrated, Bundled, Single}), Type (Hard, Soft) - Industry Analysis and Demand Forecast to 2030 @ https://www.psmarketresearch.com/market-analysis/saudi-arabia-facility-management-market

In the years to come, the revenue contribution of the hard services classification to the Saudi Arabia facility management market will rise the fastest, under segmentation by type. Because hard services are critical in nature and provided by trained experts, they are more expensive than other services.

Companies in the Saudi Arabia facility management market are extensively pursuing service contracts, in order to increase their revenue.

• For instance, in March 2018, the contract awarded to Musanadah Facilities Management Co. Ltd. by Honeywell International, for facility management services at the latter's Saudi offices, was renewed. Apart from many of Honeywell International's regional offices in the kingdom, the renewed contract also involves the provision of these services at its head office in Dhahran Techno Valley.
• Similarly, in February 2018, Musanadah Facilities Management Co. Ltd. received a three-year contract from Aircraft Accessories & Components Company (AACC), for the provision of facility management services in a 10,000-square-meter area. The contract includes light construction and fit-out works, hard and soft services, third-party contract management, and building maintenance services.

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The major players in the Saudi Arabia facility management market are Khidmah LLC, EMCOR Group Inc., Enova Facility Management, Interserve plc, Musanadah Facilities Management Co. Ltd., Rezayat Group, Al Borj International, Nesma Trading Co. Ltd., Al Hajry Overseas Co. Ltd., and Petrojana.

Browse more reports on Facility Management by P&S Intelligence:

U.A.E. Facility Management Market

U.A.E. Facility Management Market Research Report: By Service (Property, Cleaning, Security, Catering, Support, Environmental Management), End User (Commercial, Industrial, Residential), Mode (In-House, Outsourced), Type (Hard, Soft) - Industry Analysis and Demand Forecast to 2030

https://www.psmarketresearch.com/market-analysis/uae-facility-management-market

Kuwait Facility Management Market

Kuwait Facility Management Market by Service (Property [HVAC Maintenance, Mechanical & Electrical Maintenance], Cleaning, Security, Catering, Support, Environmental Management), by End User (Commercial, Industrial, Residential), by Mode (In-House, Outsourced [Integrated, Bundled, Single]), by Type (Hard, Soft) ? Market Size, Share, Development, Growth, and Demand Forecast to 2024

https://www.psmarketresearch.com/market-analysis/kuwait-facility-management-market

Qatar Facility Management Market

Qatar Facility Management Market by Service (Property [HVAC Maintenance, Mechanical & Electrical Maintenance], Cleaning, Security, Catering, Support, Environmental Management), by End User (Commercial, Industrial, Residential), by Mode (In-House, Outsourced [Integrated, Bundled, Single]), by Type (Hard, Soft) ? Market Size, Share, Development, Growth, and Demand Forecast, 2014?2024

https://www.psmarketresearch.com/market-analysis/qatar-facility-management-market

GCC Facility Management Market

GCC Facility Management Market by Service (Property, Cleaning, Security, Catering, Support, Environmental Management), by End User (Commercial, Residential, Industrial), by Mode (In-House, Outsourced), by Country (Saudi Arabia, U.A.E., Kuwait, Qatar) ? Market Size, Share, Development, Growth, and Demand Forecast, 2013-2023

https://www.psmarketresearch.com/market-analysis/gcc-facility-management-market

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