The Saudi Arabia facility management market is predicted to grow at 9.4% CAGR during the forecast period with the market size reaching USD 51.9 billion by 2024. Different types such as hard, soft, and others are majorly contributing to the facility management market size. The market has witnessed significant demand for hard categories over the last few years due to its high cost.

The property segment is further subdivided into heating, ventilation, and air conditioning (HVAC) maintenance, mechanical and electrical maintenance, and others.

The facility management market is segmented into commercial, industrial, and residential. Of all, the commercial category was accounted for the largest share in the Saudi Arabia facility management market due to escalating alertness among end-users for commercial building maintenance to minimize expenditure.

The facility management market is segmented into outsourced, and in-house. Of all, the in-house category accounted for the larger share in the market due to elevated acceptance rate, long-standing existence, and comparatively low price.

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The economic divergence is the major trend of the Saudi Arabia facility management market. The country is mounting investment in the infrastructure sector to reduce its economic dependence. Moreover, the government initiated a reform plan “Vision Saudi 2030”, to upsurge private investment and decrease the country’s dependency on hydrocarbons.

The mounting infrastructure-based development such as commercial buildings, industrial projects, infrastructure projects, and residential construction projects, the escalating number of facilities and services, and expanding tourism are the key factors leading to the growth in the Saudi Arabia facility management market.

The key factor hindering the growth of the facility management market is the lawful marketplace. Most of the rules and regulations are administrated by Saudi law, majorly proceeds on the Shari’ah law, and offer an inadequate defense in a situation of non-payment.

EMCOR Group Inc., Rezayat Group, Al Borj International, Khidmah LLC, Musanadah Facilities Management Co. Ltd., Saudi Oger Ltd., Interserve plc, Nesma Trading Co. Ltd., Enova Facility Management, and Petrojana are some of the key players offering solutions for facility management in Saudi Arabia.

Source: VynZ Research