Saudi Arabia Facility Management Market Revenues to Reach USD 13.48 billion by 2028 - Market Size, Share, Forecasts, & Trends Analysis Report by Mordor Intelligence

Hyderabad, July 10, 2023 (GLOBE NEWSWIRE) -- According to a new market research report titled "Saudi Arabia Facility Management Market Report (2023-2028)," the market is estimated at USD 8.31 billion in 2023. It is expected to register a CAGR of 10.15% during the forecast period.

Facility management services in Saudi Arabia, especially across Riyadh, Jeddah, Makkah, and Dammam Metropolitan Area, have become a mature market. The country’s real estate market is experiencing growth due to the high demand for housing units. Facility management includes services like buildings’ utilities, electrical maintenance, and waste services.  

Report Summary:

Which are the Top Companies in the Saudi Arabia Facility Management Market?

The Saudi facility management market is fragmented due to the presence of local and international market players with significant industry expertise. The region’s FM companies are constantly incorporating advanced technologies into their services to enhance their portfolio.

Key players operating in the Saudi facility management market are:

• • Initial Saudi Arabia Ltd
  • Emcor Saudi Company Limited
  • Almajal G4S (G4S Limited)
  • SETE Energy Saudia for Industrial Projects Ltd (SETE Saudia)
  • Zamil Operations and Maintenance Company, Limited (Zamil O&M)
  • SAMAMA Holding Group
  • Khidmah Saudi Arabia
  • ENGIE Cofely Energy Services LLC
  • Nesma Trading Co. Ltd
  • Al Yamama Company
  • Olive Arabia Co. Ltd

Other Reports That Might Be of Your Interest:

• Denmark Facility Management Market Report - The Danish facility management market value is expected to register a CAGR of more than 1.40% during the forecast period (2023-2028).
• Latin America Soft Facility Management Market - The Latin American soft facility management market size is expected to register a CAGR of 5.00% during the forecast period (2023-2028).

Key Highlights from the Saudi Arabia Facility Management Market Report:

Growth in Real Estate Sector and Infrastructure Development Driving the Market

• Saudi Arabia’s construction industry majorly benefits from the private and public sector reforms and support for Vision 2030. Under this vision, the government plans to establish several economic, educational, and other innovative reforms to diversify the Saudi landscape.
• Increasing business opportunities in the country are creating the scope for developing transportation projects, thereby leading to infrastructure development.

Outsourcing and Government Support May Drive Market Growth

• Businesses in the country are focused on improving their core competencies. Therefore, they outsource non-core operations to service providers specializing in facility management. This trend is expected to drive the demand for facility management organizations for comprehensive solutions.
• The Saudi government has been actively promoting Vision 2030 to develop tourism, entertainment, technology, and manufacturing sectors. This will help diversify the economy and increase the demand for facility management services to maintain and support these sectors’ operations.

What are the Latest Developments in the Saudi Arabia Facility Management Market?

• In March 2023, Khidmah, an FM company in the Middle East, achieved a milestone by recording 9 million safe working hours over the past one year, including 3.5 million safe working hours during summer.
• In September 2022, the National Water Company signed a contract for the Western Cluster for the management, operation, and maintenance of water services. The operations include Jeddah, Makkah, and Taif, with the alliance organized by Suez and Al-Awael Modern Contracting Group.

Mordor Intelligence has Segmented the Saudi Arabia Facility Management Market Based on Type of Facility Management, Offering Type, and End-User Industry:

• By Type of Facility Management (Market Size and Forecast based on Value (USD billion), 2018-2028)
  • In-house Facility Management
  • Outsourced Facility Management
    • Single FM
    • Bundled FM
    • Integrated FM
      
      
• By Offering Type (Market Size and Forecast based on Value (USD billion), 2018-2028)
  • • • Hard FM
      • Soft FM
• By End-user Industry (Market Size and Forecast based on Value (USD billion), 2018-2028)
  • • Commercial and Retail
    • Manufacturing and Industrial
    • Government, Infrastructure, and Public Entities
    • Institutional
    • Other End Users

In a nutshell, the Mordor Intelligence market research report is a must-read for start-ups, industry players, investors, researchers, consultants, business strategists, and all those who are looking to understand this industry. Get a glance at the Saudi Arabia Facility Management Market Report (2023-2028).

Mordor Intelligence constantly tracks industry trends. Some relevant market reports from the analysts that might be of interest to you:

• Facility Management Software Market Report - The facility management software market size is expected to register a CAGR of 11.20% during the forecast period (2023-2028).
• Qatar Facility Management Market Report - The Qatari facility management market size is estimated at USD 6.08 billion in 2023. It is expected to reach USD 9.52 billion by 2028, registering a CAGR of 9.39% during the forecast period (2023-2028).
• Europe Hard Facility Management Market Report - The European hard facility management market size is expected to register a CAGR of 2.50% during the forecast period (2023-2028).

About Mordor Intelligence:

Mordor Intelligence is a market intelligence and advisory firm. At Mordor Intelligence, we believe in predicting butterfly effects that have the potential to change or significantly impact market dynamics.

Our market research reports are comprehensive and provide exclusive data, facts and figures, trends, and the competitive landscape of the industry.

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• Saudi Arabia Facility Management Market - Mordor Intelligence