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Facility Management Market in Egypt is fragmented with both domestic and global players proposing services to the consumers. The market is at early growth stage. The consumers in the market are price sensitive and absence of awareness about the importance of the facility management services which has concluded in the low penetration in the market. However, fast track construction of residential, commercial and industrial units along with growing inflow of Foreign Direct Investment has led to augment in requirement for integrated facility services. High rate of unemployment resulting in augmenting the immigration is obtaining the government attention.
According to the report analysis, ‘Egypt Facility Management Market Outlook to 2023- By Soft Services (Housekeeping, Security, Landscaping and Others); Hard Services (Electromechanical and Operational Maintenance, Fire Safety and Security Systems and Civil Maintenance) and By End User Sectors (Industrial, Commercial, Residential and Others)’ states that Facility Management Market across Egypt is fragmented. Contrack FM is the market leader with the greatest market share on the basis of revenue in 2018. This was followed by Enova, EFS Facilities Management, IFMC-Apleona Group, Egypro and Others. These players contend in the facility management market in Egypt on the basis of quality of service, brand image, price of service rendered and precise expertise.
Based on the services, the Egypt facility management market is classified into soft and hard services. Soft services that involve manned security, housekeeping, landscaping, waste management, pest control and several others registered the facility management market in Egypt in terms of revenue during the year 2018. The developing economy requirement for gigantic infrastructure development along with increasing government concern for terrorism and other mal-practices owe to huge requirement for Facility Management services. On the other hand, hard services have moderately less market share in terms of revenue.
The Egypt Facility Management Services Market size experiences growth owing to augment in industrialization and urbanization. Growth in urbanization leads to augment in commercialization, which leads to augment in requirement for higher productivity in lower maintenance in dissimilar corporate offices, thus propelling the growth of the market. In addition, surge in requirement of the residential and non-residential building increase the requirement for higher spending over construction involving the different mega projects. These projects demand huge investments, which in turn uses the maintenance services for longer duration of construction structures. Thus, propelling the facility management services market growth. Moreover, awareness by dissimilar organizations to propel the assets and properties is augmenting, owing to high investment required for buying these assets. Thereby, boosting the growth of the market.
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In future, it is projected that Egypt Facility Management market in terms of revenue will augment at a positive CAGR during the duration 2028-2023E. Forthcoming airport construction projects and smart city plans along with augmenting MNCs in the country will boost the requirement for facility management services in Egypt. The government is aiming on enhancing tourism to produce the additional revenue for the country. This will lead to the growth of hospitality sector, ultimately growing the requirement for facility management services. It is also projected that the market will observe the emergence of both local and global companies owing to augmenting trend of adopting facility management services in the country.
For More Information on the Research Report, refer to below links: –
Egypt Facility Management Market Outlook to 2023
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