Indore Online Journal

Grand View Research, Inc

Procurement Outlook

Mechanical electrical and plumbing services in the planning, design, and maintenance of different elements of a building which can be classified under one or more of the headers; mechanical, electrical, and plumbing services. Commonly known as MEP, these services are essential not only during the construction of a building but also during its lifetime. The major services offered under the MEP service provider are maintenance of the HVAC system, installation, and maintenance of electrical lines and power circulation, maintenance of pipes and the plumbing system to ensure proper cleaning and water sanitation.

The MEP industry has evolved over the years. Back in the early 2000s, MEP was considered a specialized service offering. However, with the progress in facilities management, the facility management service providers have incorporated elements of mechanical, electrical, or plumbing services so that they can provide a comprehensive package with the added value of MEP services. Additionally, there is the incorporation of software services that help perform diagnostics of the functionalities that MEP services are concerned with.

Demand Outlook

The mechanical electrical and plumbing services market in the US was valued at USD 32.8 billion in 2020 and it is expected to grow at a CAGR of 14.2% by 2027. It also holds the highest market share among other geographies. The demand for mechanical electrical and plumbing services in the US will be driven by new construction as well as retrofit and renovation demand.

The MEP industry is moderately fragmented with the presence of several multinational as well as small-sized, local suppliers. As such, the competition during the pre-COVID era was already high. The COVID pandemic resulted in several constructions to temporarily stop. This had negatively impacted the Mechanical Electrical and Plumbing Services Industry. However, with the effects of the pandemic seizing and businesses resuming, the construction market is expected to bloom which would help drive the requirement for MEP services.

Cost Drivers

Integrating software and technology to perform diagnostic checks on different elements of the building would help in preemptive checks and maintenance. Often, preemptive maintenances are cheaper than reactive repair work. So a capital investment in the form of technology would help reduce lifetime costs for maintenance work. The integration of software into the MEP industry is expected to increase during the period of forecast with several governments initiates across the globe planning to implement or have already started implementing the ideas of smart city projects.

The growing urbanization in APAC nations is leading to a demand for several types of services, MEP and facilities management being two of them. With this, global players are encroaching into these new developing markets thereby standardizing market rates and providing services that the customers can use to benchmark capabilities of different suppliers before opting for one. These processes of standardization are leading to market correction in prices.

Grab your copy, or request for a free sample of the “Mechanical Electrical and Plumbing Services Industry Procurement Intelligence Report, published by Grand View Research” for In-depth details regarding supplier ranking and selection, sourcing, and pricing criteria & strategies.

Add-on Services provided by Grand View Research Pipeline:

Should Cost Analysis

Component wise cost break down for better negotiation for the client, highlights the key cost drivers in the market with future price fluctuation for different materials (e.g.: steel, aluminum, etc.) used in the production process

Rate Benchmarking

Offering cost transparency for different products / services procured by the client. A typical report involves 2-3 case scenarios helping clients to select the best suited engagement with the supplier

Salary Benchmarking

Determining and forecasting salaries for specific skill set labor to make decision on outsourcing vs in-house.

Supplier Newsletter

A typical newsletter study by capturing latest information for specific suppliers related to: M&As, technological innovations, expansion, litigations, bankruptcy etc.

Brief about Pipeline by Grand View Research:

A smart and effective supply chain is essential for growth in any organization. Pipeline division at Grand View Research provides detailed insights on every aspect of supply chain which helps in efficient procurement decisions.

Our services include (not limited to):

•             Market Intelligence involving – market size and forecast, growth factors, and driving trends

•             Price and Cost Intelligence – pricing models adopted for the category, total cost of ownerships

•             Supplier Intelligence – rich insight on supplier landscape, and identifies suppliers who are dominating, emerging, lounging, and specializing

Sourcing / Procurement Intelligence – best practices followed in the industry, identifying standard KPIs and SLAs, peer analysis, negotiation strategies to be utilized with the suppliers, and best suited countries for sourcing to minimize supply chain disruptions

Browse through Grand View Research’s collection of procurement intelligence studies:

• Industrial Valves Market Procurement Intelligence – The global industrial valves market is valued at USD 50 billion in 2020 and it is expected to grow at a CAGR of 12% from 2020 to 2025 due to high demand from the pharmaceutical and healthcare industry post-Covid-19. Industrial valves are used in manufacturing different types of medical devices.
• IT Asset Recovery Services Market Procurement Intelligence – The global market for IT asset recovery services was valued at USD 13.4 billion in 2020 and is expected to grow a steady CAGR of 7.9% to reach USD 19.6 billion by 2025. The market can be segmented by the type of device recovered or by service type (for example, de-manufacturing and recycling, remarketing and value recovery, data destruction, sanitation, or recovery, and logistics management and reverse logistics).

Media Contact
Company Name: Grand View Research, Inc.
Contact Person: Sherry James, Corporate Sales Specialist – U.S.A.
Email: Send Email
Phone: 1888202951
Address:Grand View Research, Inc. 201 Spear Street 1100 San Francisco, CA 94105, United States
City: San Francisco
State: California
Country: United States
Website: https://www.grandviewresearch.com/pipeline/mechanical-electrical-plumbing-services-industry-procurement-intelligence-report