New York, May 27, 2021 (GLOBE NEWSWIRE) – Reportlinker.com Announces Release of “UAE Mechanical, Electrical and Plumbing Services Market” report – https://www.reportlinker.com/p06075963/?utm_source=GNW
The UAE is one of the largest tourist destinations in the world for its lavish lifestyle, sleek infrastructure, thrilling amusement parks, immersive Arab culture and intriguing ethnic history. As a result, the travel and tourism sector contributed 5.2% to the country’s gross domestic product (GDP) in 2016 & CloseCurlyQuote; a share that the government wants to further increase. Therefore, the resulting infrastructure construction in this sector is likely to drive the UAE mechanical, electrical and plumbing services market from $ 3,025.9 million in 2020 to $ 12,946.9 million in 2030, at a CAGR of 15.7% between 2021 and 2030, according to the market research report. published.
Much of the infrastructure development will be carried out as part of the Dubai Tourism Vision 2020 and Sharjah Tourism Vision 2021 programs and as part of the preparations for the Dubai Expo 2020 (scheduled for 2021). In addition, the market for MEP services in the UAE is driven by the development of infrastructure in the country’s transportation sector & CloseCurlyQuote; given the growing number of tourists and immigrants. With the construction of infrastructure, the demand for the design, installation and maintenance of various MEP components and systems will continue to increase.
The COVID-19 pandemic has negatively impacted the UAE market for MEP services due to the lockdown measures, which have resulted in a complete shutdown of construction activities. In addition, plant shutdowns around the world have reduced the supply of MEP components and systems. In addition, with most hotels and other commercial facilities ceasing operations, the demand for MEP services has declined sharply in the country, further damaging revenue streams for service providers.
The hospitality category will see the fastest growth in the UAE MEP services market in the coming years, among the end-user segment. The UAE is home to some of the most iconic hotels in the world, including the only seven-star hotel, Burj Al Arab and Atlantis the Palm. There are many more luxurious hotels under construction in the country, including WB Abu Dhabi, which will be inaugurated this year.
The main companies in the UAE MEP services market are Al Shafar United Electromechanical Engineering LLC (ASU), SPECON, BK Gulf LLC, AL SHIRAWI ELECTRICAL & MECHANICAL ENGINEERING COMPANY, ALEMCO, Horizon Gulf Electromechanical Services LLC, Al-Futtaim Engineering Company LLC , Elemec Electrical Contracting LLC, James L Williams Middle East (JLW) and GECO Mechanical & Electrical Ltd.
Read the full report: https://www.reportlinker.com/p06075963/?utm_source=GNW
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