The service types covered in this report are:
Commercial is the largest category, with USD 3,253.0 million revenue in 2024. This is due to the economic diversification strategy of the Saudi government, which is leading to the expansion of the corporate & IT sector. Just like initially in Jeddah, business districts are growing in Riyadh and Dammam, which is reflected in the construction of sleek office buildings. These buildings are being designed with expansive MEP fixtures in a way that ensures energy efficiency, occupant comfort and safety, and sustainability.
The hospitality category is predicted to witness the fastest growth over the forecast period. This is credited to the increasing migration of people to Saudi Arabia from all over the world for work, many of whom stay at hotels, at least for short durations. Moreover, the footfall in Makkah and Medinah continues to increase, which is why new hotels are being constructed and the existing ones expanded to accommodate the burgeoning pilgrim numbers. Tourism is also one of the sectors highlighted in Vision 2030, under which the government seeks to host 150 million tourists by decade-end.
We have analysed the below-mentioned end users:
The implementation/execution category holds the largest share in 2024. This is because this is the most-important phase over the lifetime of any built asset, as it includes the actual construction and installation of MEP equipment and fixtures. Therefore, this is the costliest phase of any building’s lifecycle and demands the most resources, in terms of labourers, volume of equipment and construction materials and time. The growth of this category is essentially driven by the large number of mega construction projects in the execution phase in the kingdom.
O&M is the fastest-growing category in the market due to the kingdom’s increasing focus on sustainability, long asset life, occupant safety, and energy efficiency. All these efforts demand that buildings be renovated and serviced periodically, which drives the demand for MEP services during this stage. Keeping MEP fixtures in perfect working condition lessens energy usage, reduces the risk of electrical shocks, falls due to water leakage, and injuries due to falling objects. Further, the retrofitting of advanced appliances and building management systems might require additional MEP work.
The phases studied in the report include:
The provinces analyzed in this report are:
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