The U.A.E. facility management market size attained a valuation of $14,949.9 million in 2019 and is predicted to exhibit a CAGR of 9.3% between 2020 and 2030. Furthermore, the market would generate a revenue of $34,959.4 million in 2030. The key factors driving the expansion of the market are the surging investments being made in the construction sector and the thriving tourism sector in the country.
The increasing foreign direct investments, traveler footfall, and gross domestic product (GDP) of the country are causing the expansion of the tourism sector. The COVID-19 pandemic and the subsequent lockdown and restrictions that were imposed on travel and tourism hampered the progress of the tourism sector in the country over the last few months. However, with immense government support and the relaxation in travel restrictions, the hospitality sector is set to witness rapid growth in the coming months.
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Depending on service, the facility management market in U.A.E. is divided into cleaning, property, security, support, catering, and environmental management. Out of these, the property category recorded the highest growth in the market in the years gone by and this trend is likely to continue in the coming years. This would be because of the rising customer requirements for integrated services for property management. Moreover, the demand for maintaining and keeping the property in prime condition is surging.
Because of the aforementioned factor, the requirement for the regular maintenance of the heating, ventilation, and air conditioning (HVAC) systems and various mechanical and electrical equipment is rising rapidly in the country. The U.A.E. facility management market is also categorized into industrial, residential, and commercial categories. Out of these, the commercial category is currently demonstrating the highest growth in the market. This is primarily because of the extensive requirement for renting, procurement management, and contract management services in commercial facilities.
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Hence, it can be said without any hesitation that the market would exhibit substantial growth in the forthcoming years, mainly because of the rapid growth of the tourism and construction industries and the soaring requirement for various system and equipment management and maintenance services in commercial, residential, and industrial facilities in the country.
Market Size Breakdown by Segment
- HVAC maintenance
- Mechanical and electrical maintenance
- Environmental Management
By End User
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