North America Mechanical Electrical And Plumbing Service Market Size, Share & Trends Analysis Report By Service Type, By End-use, By Type, By Country, And Segment Forecasts, 2024 - 2030

North America Mechanical Electrical And Plumbing Service Market Size, Share & Trends Analysis Report By Service Type, By End-use, By Type, By Country, And Segment Forecasts, 2024 - 2030

North America Mechanical Electrical And Plumbing Service Market Growth & Trends

The North America mechanical electrical & plumbing service market is anticipated to reach USD 51,411.4 million by 2030, registering a CAGR of 7.4% from 2024 to 2030, according to a new report by Grand View Research, Inc. Smart buildings are gaining popularity as they integrate various systems to create intelligent, interconnected environments. The adoption of smart building automation and the Internet of Things (IoT) is driving the demand for mechanical, electrical, and plumbing services in North America.

The growing number of manufacturing facilities is expected to require MEP services such as engineering, designs, and drafting services for the HVAC, electrical, and plumbing systems, among others. This rise in the value added in manufacturing and construction sectors is observed due to the flourishing construction, chemical processing, and food & beverages industries. MEP services play a significant role in manufacturing facilities' operation, construction, and design. Hence, the growth of these industries is expected to further fuel the demand for MEP services in North America over the forecast period.

Furthermore, Virtual Design and Construction (VDC) has revolutionized MEP design by allowing accurate visualization, improved collaboration, and early clash detection. Stakeholders can coordinate effectively and identify conflicts using detailed virtual models before construction begins. VDC supports precise quantity takeoffs, cost estimation, and efficient project planning. By incorporating building energy modeling services, MEP professionals can achieve higher project efficiency, lower costs, minimize disruptions, and ensure timely project delivery of MEP systems. The incorporation of such advanced technologies is expected to further drive the demand for MEP services in the region.

Moreover, the regulatory framework for the market encompasses a variety of laws, regulations, standards, and guidelines aimed at ensuring the safety, efficiency, and sustainability of commercial facilities. Regulations such as the Canadian Standard Association (CSA)C22.1:24, the National Electrical Code (NEC), and the International Plumbing Code (IPC) are some of the important regulatory frameworks impacting the MEP service market.

Market players in North America in mechanical, electrical, and plumbing services are adopting several strategies, such as acquisitions, mergers, joint ventures, new service launches, and regional expansion, to enhance market penetration and cater to changing local demands from various end-use applications, including residential, commercial, and industrial applications.

For instance, in October 2023, Global Facility Solutions, LLC was acquired by Huron Capital, a full equity partner, through its portfolio company Exigent. This restructuring has provided Global Facility Solutions, LLC with increased capital funds and key business service relationships, allowing the company to enhance its client services and further expand its ability to provide sustainability services to clients throughout the U.S.

North America Mechanical Electrical And Plumbing Service Market Report Highlights

• The electrical service segment held the largest global revenue share in 2023.MEP service providers in North America offer comprehensive services for installing new electrical panels, upgrading outdated panels to meet current electrical codes, and increasing the capacity of panels to accommodate growing power demands
• The mechanical service segment is expected to show lucrative growth over the forecast period. HVAC systems are essential for maintaining comfortable indoor environments and ensuring proper air quality in buildings. Professionals in this service area are skilled in troubleshooting and resolving issues related to HVAC systems, ensuring energy efficiency and extending the lifespan of these critical systems
• The commercial segment held the largest share of the global revenue in 2023. Increasing expansion activities adopted by multinational companies are expected to drive the demand for MEP services, thus benefitting the overall market
• The residential segment is expected to show lucrative growth over the forecast period. One notable trend in the residential MEP service market is the growing emphasis on energy efficiency and sustainability. Homeowners are increasingly seeking eco-friendly solutions to reduce their energy consumption and carbon footprint
• Consulting service type dominated the market in 2023. The MEP consulting market is also seeing a surge in retrofitting and existing system upgrades. As older buildings require modernization to meet current standards and improve energy efficiency, MEP consultants are often called upon to assess, design, and implement upgrades
• Upgrade/replacement service type is expected to witness high growth in coming years. The trend of sustainability and green building certifications is significantly influencing the upgrade and replacement segment. Buildings aiming for Leadership in Energy and Environmental Design (LEED) certification or other green standards often require substantial MEP system overhauls to meet these criteria.
• The U.S. dominated the mechanical electrical & plumbing service market in North America in 2023. U.S. has a well-developed and regulated MEP service market with established standards, codes, and licensing requirements. This ensures a high level of professionalism and quality control, which, in turn, fosters customer confidence. Besides, the presence of numerous industry associations and trade organizations, such as the American Society of Heating, Refrigerating and Air-Conditioning Engineers (ASHRAE), contribute to the dissemination of best practices and the promotion of professional development.
• In March 2023, Border States, a major electrical distributor, acquired Winston Engineering, Inc., a provider of professional mechanical, electrical, and plumbing (MEP) engineering services. The acquisition is anticipated to allow Border States to broaden its service offerings across its three core markets: construction, industrial, and utility.

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