The GCC facility management market is predicted to grow at 9.4% CAGR during the forecast period with the market size reaching USD 86.8 billion by 2027. Different services such as property, cleaning, environmental management, security, support, catering, and others (contract management, utility management, furniture supplies, and reception staffing) are majorly contributing to the facility management market size

The catering segment is predicted to grow at the fastest growth during the forecast period owing to the mounting tourism and hospitality industry. The property segment is further subdivided into heating, ventilation, and air conditioning (HVAC) maintenance, mechanical and electrical maintenance, and others.

The GCC facility management market is segmented into commercial, industrial, and residential. Of all, the commercial category is predicted to witness the highest CAGR of 9.8% during the forecast period and accounted for the largest share in the facility management market due to escalating alertness among end-users for commercial building maintenance to minimize expenditure.

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The mounting construction activities and projects, technological advancement, and escalating tourism are the key factors leading to the growth in the facility management market in GCC are the key factors leading to the growth in the GCC facility management market.

Key factors hindering the growth of the GCC facility management market are inflationary pressure on the facility management service industry, and high standards.

Geographically, Saudi Arabia is the largest and observed to witness significant growth in the facility management market as the region of the tourism industry is increasing. In addition, expanding construction activities, and rapid urbanization are also driving the growth of the Saudi Arabia facility management market.

EMCOR Group Inc., Emrill Services LLC., United Facilities Management, Khidmah LLC, Cofely Besix Facility Management, Kharafi National, Interserve plc, Imdaad LLC, Musanadah Facilities Management Co. Ltd., and Farnek Services LLC are some of the key players offering solutions for facility management in GCC.

Source: VynZ Research