The mechanical, electrical and plumbing services market provides essential services such as HVAC systems, lighting, power supply systems, fire protection, and plumbing. Mechanical, electrical and plumbing services help improve a structure’s functionality, security, and aesthetics. They also help buildings comply with various regulations and codes related to energy efficiency, sustainability, and safety. The demand for these services is driven by the need for new commercial and residential construction projects as well as the requirement for retrofitting and renovation of existing structures.

The Global mechanical, electrical and plumbing services market is estimated to be valued at US$ 64.1 Bn in 2024 and is expected to exhibit a CAGR of 13% over the forecast period 2024 to 2031.

Key Takeaways

Key players operating in the mechanical, electrical and plumbing services are RSA Security LLC (a subsidiary of Dell Technologies), Symantec Corporation (acquired by Broadcom Inc.), Vasco Data Security International, Inc. These companies offer comprehensive services and products to commercial, industrial and residential clients.

The key opportunities in the MEP Market Size include growing demand for energy-efficient HVAC, lighting and power systems due to rising energy costs and stringent regulations. Governments across the world are providing incentives and subsidies to promote green construction which is also opening new avenues for players.

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