Market: Mechanical electrical-plumbing services set for 16.31% CAGR

Economic-regulatory norms will lead to sizable demand in the market, says the report

The mechanical electrical and plumbing services market in India is poised to grow by US$2.01 billion during 2022-2026, anticipating a CAGR of 16.31%, according to a report by ResearchAndMarkets.

“The market is driven by risk minimization through outsourcing, growth in the real estate sector, and maximizing profits in facility operations, said the report “Mechanical Electrical and Plumbing Services Market in India 2022-2026”.

This study identifies the evolving nature of service contracts as one of the prime reasons driving the mechanical electrical and plumbing services market in India’s growth during the next few years.

“Also, economic and regulatory norms and technological advances in building management systems will lead to sizable demand in the market,” the report said on 14 Oct 2022.

The industry participants are:

AEMS ENGINEERS

ATOM MEP ENGINEERS PVT LTD

Blue Star Ltd

BR MEP Engineers Pvt. Ltd.

ELCON INFRASTRUCTURE

KK TECHNOCRATS PVT LTD

Mani Engineers Pune

MECELP Project Pvt Ltd

Meinhardt Group

MEP Engineering Inc

PillarPlus Pvt Ltd