Published on : Dec 05, 2016
ALBANY, NY, Dec 05, 2016: After a thorough study of the current competitive landscape and revenue, the report predicts the market to expand at a robust CAGR of 19.49% from 2016 to 2020. According to the report, titled “ Building Energy Management Services Market in Middle East 2016-2020,” the pressing need to optimize energy consumption and reduce carbon footprints on account of a cracking pace of infrastructure development has driven the market in the region. Building energy management services (BEMS) entail sophisticated solutions to monitor and manage a building’s energy needs. These services either involve the installation of an energy-efficient product, servicing existing machinery to lower energy consumption, or putting in place energy audits and new laws. Some of the functions served by BEMS are managing heating, ventilation, air conditioning, and lighting or security measures.
One factor hobbling the growth in the Middle East market for BEMS is the high price of BEM products and services. The report segments the market in the region by geography into Qatar, UAE, Kingdom of Saudi Arabia, and others, which include Oman, Lebanon, and Bahrain. Among them, UAE is expected to generate maximum revenue in the Middle East market from 2016 to 2020. This is because the nation is home to a substantial number of commercial and residential buildings, state-of-the-art hospitals, and international institutions. Further, a burgeoning population and increasing consumerism that leads to more energy consumption will also boost the UAE market.
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Depending upon the type of service, the report divides the market into system integration, consulting, and maintenance and support. The maintenance and support services segment dominated the market in 2015 in terms of share. While maintenance involves the corrective and predictive maintenance of electro-mechanical equipment, support entails remote assistance by experts to uncover faults in the system. In the next few years, however, the growth pace of the segment is slated to lessen marginally due to innovations in energy management systems.
Based on end users, the report forecasts the commercial buildings segment to hold a sway over the market from 2016 to 2020. The other end-user segments mentioned in the report are education, residential buildings, and healthcare. The Middle East market for building energy management services is highly fragmented on account of many well-entrenched facility management service companies. Competition among them is robust, with the leading players actively strategizing to enhance their positions in the market.
The major participants operating in the Middle East market for building energy management services are Emrill Services LLC, Enova, Farnek Middle East LLC, EFS, and Saugi Oger.
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