A Market Place Research

According to a recent report published by Allied Market Research, titled, “Retractable Awnings Market by Product Type, Retracting Type, Application, and Region: Global Opportunity Analysis and Industry Forecast, 2021–2030,”

The retractable awnings market was valued at $6.0 billion in 2020, and is expected to reach $13.8 billion by 2030, registering a CAGR of 8.2% from 2021 to 2030. Retractable awnings have the ability to retract. It is the best solution to create a shade. Retractable awnings give protection from sunlight and rain. These awnings are easy to install and maintain.

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The major players profiled in the retractable awnings market include Advanced Design Awnings & Signs, Commercial Awnings Ltd, Eide Industries, Inc., Marygrove Awnings, MARKILUX GmbH + CO. KG, Mitjavila, NuImagePro & NuImage Awnings, Shades Awnings, Sunesta and Warema Renkhoff SE. Major companies in the market have adopted product launch as their key developmental strategy to offer better products and services to customers in the retractable awnings market

Retractable awnings extend the outdoor space area and reduce the cooling system cost. It also enhances the beauty of the outdoor space. It is an awning attached to a frame, which allows it to be extended out or folded or rolled back tightly against the building facade. These retractable awnings can be retracted manually or automatically using a motor. The motorized awnings are also equipped with sensors and remote to carry out the retracting process by using a remote.

The major benefits of installing an awning at residences are sun protection and expansion of living pace. The advantages include reduced air conditioning costs during summer and protection of furniture drapery, and flooring. In addition, retractable awnings are available in a variety of colors, designs, and patterns. These awnings enhance the look and beautify the building. Moreover, advancements in fabric material quality and patterns have evolved over time. This gives an additional strength and ability to withstand harsh climate to an extent.

However, extreme harsh weather can damage the awnings and has to be retracted. This fails the purpose of installation of awnings to protect from sun, rain, and storm. Moreover, pricing and installation of retractable awnings is toward the higher end, owing to its motorized operating system, which includes motor, sensor, remote. and other operating buttons. Furthermore, the outbreak of COVID-19 has led to halt in logistic and manufacturing activities across the globe, which, in turn, has led to interruption of supply chain, thereby hindering the growth of the retractable awnings market. However, this situation is expected to improve as governments have started relaxing norms around the world for resuming business activities.

On the contrary, the old age mechanism involved a rope string or side-arm to retract awnings during rain, storm, and snow. The growth in technical advancements in every field has also seeped into the awnings market in recent years. Technological innovation is expected to act as a major opportunity for the growth of the retractable awnings market.

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The retractable awnings market is segmented into product type, retracting type, application, and region. By product type, the market is segregated into patio, window, freestanding, and others. The retracting types covered in the study include manual and motorized. On the basis of application, the market is divided into residential and non-residential. Region-wise, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Spain, and the rest of Europe), Asia-Pacific (China, Japan, South Korea, India, and the rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa).

Key Findings Of The Study

• By product type, the patio segment was the highest revenue contributor in 2020.
• On the basis of retracting type, the manual segment was the highest revenue contributor in 2020.
• By application, the non-residential segment dominated the market in 2020.
• North America generated the highest revenue in 2020.

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According to a recent report published by Allied Market Research, titled, “KSA and UAE Hand Tools Market by Category, Channel, and End-user Industry: Opportunity Analysis and Industry Forecast, 2020–2027,” the KSA and UAE hand tools market size accounted for $0.36 billion in 2019, and is expected to reach $0.48 billion by 2027, registering a CAGR of 4.7% from 2020 to 2027.

In 2019, the tools storage segment dominated the KSA and UAE hand tools market, followed by the wrench segment. The market includes revenue generated by sales of hand tools through wholesalers, retailers, distributors and e-commerce websites in countries such as KSA and UAE. These tools are sold to individual users as well as professionals for personal and commercial & industrial applications.

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The major players profiled in the KSA and UAE hand tools market include Channellock, Inc., Chronos (Clarke Tools), Illinois Tool Works Inc. (ITWIDS-TransTech), King Tony, Knipex, Nabil Tools & Hardware, Snap-on Incorporated, Stanley Black & Decker, Inc., TTI, Inc. and Vata Tools. Major companies in the market have adopted strategies such as business expansion, acquisition, and product launch, to offer better products and services to customers in the market.

Key Findings Of The Study

• By category, the tools storage segment was the highest revenue contributor in 2019.
• By channel, the offline segment generated the highest revenue in 2019.
• By end-user industry, the commercial & industrial segment generated the highest revenue in 2019.

The KSA and UAE hand tools market forecast was valued at $363.20 million in 2019, and is projected to reach $476.80 million by 2027, registering a CAGR of 4.7% from 2020 to 2027.

The KSA and UAE hand tools market is majorly driven by sales of hand tools to individuals and professionals for new construction and maintenance in construction, automobile, oil & gas and other industries. In addition, the high market price of power tools leads to increase in sales of hand tools. However, the power tools manufacturers are developing and launching low-cost power tools in the market, which acts as a restraint to the KSA and UAE hand tools market growth. In addition, outbreak of COVID-19 has led to halt in construction and manufacturing activities across the globe. Halt in logistics services has led to halt in overall sales of hand tools, which in turn hindered the growth of the market. However, industries are gradually getting back on track and vaccine discovery is expected to lead to recovery of the market by mid-2021. Further, increase in adoption of DIY culture will increase the sales of hand tools in KSA and UAE and is projected to boost the market during the forecast period.

The KSA and UAE hand tools market is segmented into category, channel end-user industry, and country. On the basis of category, the market is divided into wrenches, ratchets & sockets, tools storage, pliers, screwdrivers, torque control, measuring & scribing, cutting tools, striking tools and others. Depending on channel, it is classified into offline and online. By end-user industrial, it is segregated into DIY and commercial & industrial. By country, it is analyzed across Kingdom of Saudi Arabia (KSA) and United Arab Emirates (UAE).

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According to a new report published by Allied Market Research, titled, “Paint Spray Guns Market,” The paint spray guns market size was valued at $1.53 billion in 2021, and is estimated to reach $2.26 billion by 2031, growing at a CAGR of 3.8% from 2022 to 2031.

Commonly observed types of paint spray gun are airless, compressed air, HVLP (high volume low pressure), LVLP (low volume low pressure), and electrostatic. Among these, the HVLP segment accounted for the highest market share in 2021, owing to its wide usability. The market is analyzed with respect to different technology types, such as automatic, and manual. Among these the manual segment accounted for a high revenue share in 2021.

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The market is mainly driven by rise in construction and maintenance of residential and non-residential buildings. Furthermore, on the basis of end-user industry, the manufacturing segment is anticipated to witness rapid growth during the forecast period, owing to rise in demand for manufactured products, owing to an increase in disposable income. However, requirement of external power source by the paint spray gun restraints the paint spray guns market growth.

Region wise, Asia-Pacific held the largest paint spray guns market share in 2021, in terms of revenue, followed by North America and Europe. Moreover, the market in LAMEA is anticipated to grow with high CAGR, owing to mostly untapped market.

The advancements in paint spray guns have significantly increased the usability of paint spray gun. Introduction of paint spray guns that are light in weight and incorporation of microprocessors for smart controls are anticipated to provide lucrative opportunities for the market growth. 

For instance, in October 2021, 3M India, introduced a paint spray gun that is approximately 50% lighter as compared to other offerings in the segment. It incorporates an impact-resistant, stainless steel-reinforced composite body, which makes it the lightest spray gun in the world in its segment. This is expected to make it easier for the operator to paint with less strain.

To Browse Full Report and TOC: https://www.alliedmarketresearch.com/paint-spray-guns-market-A08251

However, during the pandemic lockdown, various manufacturers in the paint spray guns market had to stop their business in countries such as China, the U.S., and India. This break directly impacted sales of paint spray gun manufacturing companies. In addition, lack of manpower and raw materials constricted supply of raw materials for paint spray guns; and negatively influenced the growth of the market. However, after two years of COVID-19 outbreak and introduction of vaccinations, the severity of the pandemic has significantly reduced and key players in the market are recovering rapidly.

Key companies profiled in the paint spray guns market forecast report include 3M, Anest Iwata, Asahi Sunac, Auarita, DSTech Co., Ltd., EXEL Industries, FUSO SEIKI, Graco Inc., J. Wagner, Lis Industrial, NingBoNavite, Nordson, Prowin Tools, SATA GmbH & Co. KG, Titan Tool Inc., Tritech Industries, Inc., and Zhejiang Rongpeng Air Tools Co., LTD.

KEY FINDINGS OF THE STUDY

• The report provides an extensive analysis of the current and emerging paint spray guns market trends and dynamics. 
• Depending on product type, the airless paint spray gun dominated the paint spray guns market, in terms of revenue in 2021. However, LVLP segment is projected to grow at a significant CAGR during the forecast period.
• By technology type, the manual segment accounted for the highest revenue share in 2021.
• By end-user industry, automotive segment registered highest revenue in 2021.
• LAMEA is projected to register highest growth rate in the coming years.
• The key players within the paint spray guns market are profiled in this report, and their strategies are analyzed thoroughly, which help understand competitive outlook of the paint spray guns industry.
• The report provides an extensive analysis of the paint spray guns market opportunites. 
• In-depth paint spray guns market analysis is conducted by constructing estimations for the key segments between 2022 and 2031.

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The global smart bathroom market size was valued at $3.7 billion in 2020, and is projected to reach $10.8 billion by 2030, registering a CAGR of 11.2% from 2021 to 2030. A number of businesses have modernized and rebranded themselves as smart industries as a result of Internet of Things (IoT) and the growth in user base of smart phones. The global market is one such market. The surge in trend of automation has propelled this industry forward. The increased popularity of high-tech toilets and digital faucets is likely to fuel the market’s expansion in the coming years. Smart bathroom consist of smart windows, hand dryers, touchless faucets, and toilets. These systems aid in water and energy saving. Construction companies have substantially invested in the creation of smart buildings with amenities such as smart toilets to stimulate development.

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The demand for smart bathroom has smart bathroom market growth in penetration of smart homes in both emerging and established countries throughout the world. Furthermore, the rise in home improvement projects and bathroom renovations, is paving the way for a variety of smart bathroom in both the residential and commercial sectors. Owing to rise in property and mortgage prices, more expenditure on home renovation projects or remodeling drives product demand. Furthermore, consumers have been showing interests in bathrooms with built-in smart fittings, smart toilets, faucets, and soap dispensers that operate on sensors to create a spa-like experience.

Smart toilets are equipped with extra features and sensors that allow them to perform a number of tasks other than just flushing. Smart toilets often use significantly less water than traditional toilets, in addition to providing a better bathroom experience. As a result, they are an excellent alternative for saving water and conserving energy. Key players are focusing on launching smart toilets for maintaining hygiene and saving water. For instance, in December 2020, TOTO Ltd. has launched RP Compact toilet series for small bathrooms. The RP series has powerful cyclone tornado flush and the CEFIONTECT glazing, which is extremely smooth, robust, and long-lasting.

The expansion of building sector in many countries has offered significant growth opportunity for smart bathroom market. For example, in November 2020, China’s central government set a goal of completing 70% of new safe building construction by 2022. Similarly, in May 2019, the Indian government presented a $1.5 trillion construction investment plan for a six-year period ending in 2025. This investment will go toward improving school and higher education building quality, as well as health, sports, and basic infrastructure. Such government initiatives will act as a growth driver for market.

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However, during the pandemic lockdown, various manufacturers in the market had to stop their business countries such as China, the U.S., and India. This break directly impacted sales of smart bathroom companies. In addition, lack of manpower and raw materials also constricted supply of equipment of smart bathroom has negatively influenced growth of the market. However, reopening of production facilities and introduction of vaccines for coronavirus disease are anticipated to lead to re-opening of smart bathroom companies.

Competition Analysis

The key players operating in the global smart bathroom market are Toto Ltd., Jacuzzi Brand LLC, Roca Sanitario, Kohler CO., Jaquar, Cera Sanitaryware Ltd., LIXIL Corporation, Pfister (Spectrum Brands), MASCO Corporation and Delta Faucet Company.

Key Findings Of The Study

• The report provides an extensive analysis of the current and emerging smart bathroom market trends and dynamics.
• Depending on product type, the toilet segment dominated the smart bathroom market share, in terms of revenue in 2020 and faucet is projected to grow at a CAGR 13.3%during the forecast period.
• By application, the commercial segment registered highest revenue in the market in 2020.
• Asia-Pacific is projected to register the highest growth rate in the coming years.
• The key players within the market are profiled in this report, and their strategies are analyzed thoroughly, which help understand the competitive outlook of the smart bathroom industry.
• The report provides an extensive analysis of the trends and emerging opportunities of the market.
• In-depth smart bathroom market analysis is conducted by constructing estimations for the key segments between 2021 and 2030.

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According to a new report published by Allied Market Research, titled, “ship loader and unloader market by product type, bulk type, technology, and application: global opportunity analysis and industry forecast, 2021–2030,” the global ship loader and unloader market size was valued at $39.7 billion in 2020, and is expected to reach $57.8 billion by 2030, with a CAGR of 3.6% from 2021 to 2030. In 2020, Asia-Pacific dominated the global ship loader and unloader, in terms of revenue, accounting for around 35.50% share of the global market.

The major players operating in the ship loader and unloader industry include FLSmidth A/S, Fluor Corporation (American Equipment Company Inc), Buhler Group, Sandvik AB, Vigan Engineering S/A, NEUERO Industrietechnik fur Forderanlagen GmbH, SMB International GmbH, Aumund Group, EMS-Tech Inc, and Liebherr-International AG.

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Ship loader and unloader products are largely used in the port and ship industry. Ship loader and unloader are used to transfer cargo from ships to shores and from shores to other mode of transport. Ship loaders are mostly fixed and offer heavy lifting and bulk material handling operations. Ship loaders consist of a vertical mast and an operating jib or arm, along with other components such as slewing unit, hook, and hoist winch, which assists in lifting and maneuvering heavy material effectively and efficiently. Ship loaders and unloaders are used in mining, packaging, and other applications. 

Rise in sea born trade and shipping of goods from one ship to other to transfer goods, foods, fertilizers, and sugar propels demand for reclaimers, conveyors, and ship loaders, which fuels global ship loader and unloader market growth. Reach stackers, ship loaders, reclaimers, conveyors, and ship-to-shore cranes are some of the ship loader and unloader products available in market. These are widely adopted for shipments of goods from one port to other, which drives growth of the global market. 

Major players such as Liebherr-International AG and SMB International GmbH completed contract order to grab ship loader and unloader products for movement of goods. For instance, in July 2017, Liebherr-International AG signed a contract order with Doyle Shipping Group, based in Ireland, which deals in reach stackers and ship loader. The order aimed to adopt a new LRS 545 reachstacker for shipment of goods. The LRS 545 reachstacker has maximum lifting capacity of 40.5 tons in first bar and 29.5 tons for second bar. 

Various manufacturers in the global ship loader and unloader industry had to shut down their business activities, owing to the lockdowns initiated in countries such as the UAE, India, and Brazil. This break has directly impacted sales of global ship loader and unloader manufacturing companies globally. For instance, net sales of FLSmidth A/S dropped by 18.7% from January 2019 to January 2020. 

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In addition, lack of raw materials, disruption in supply chain, and lack of man power halted supply chain of ship loader and unloader products. However, re-initiation of the ship loader and unloader industry and availability of vaccines for coronavirus disease are projected to lead the opening of the global ship loader and unloader market trends at its full-scale capacities.

However, the high cost of ship loader and unloader, and fluctuation in raw material prices, limits the market growth.  Moreover, rise in adoption of ship loader and unloader in prefabricated construction, is anticipated to provide lucrative opportunities for growth of the ship loader and unloader market. 

The global market is segmented on the basis of product type, bulk type, technology, application, and region. On the basis of product type, the market is divided into stationary and mobile. The stationary segment generated the highest revenue in 2020. By bulk type, the market is divided into dry and liquid. The dry segment generated highest revenue in 2020. By technology, the market is divided into mechanical and pneumatic. The mechanical segment dominated the market in 2020. On the basis of application, the market is categorized into mining, machinery, construction, sea ports and cargo terminals, and others. The mining segment generated the highest revenue in 2020.  

Region wise, the global ship loader and unloader market analysis is conducted across North America (the U.S., Canada, and Mexico), Europe (the UK, France, Germany, Italy, and rest of Europe), Asia-Pacific (China, Japan, India, Australia, and rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa). In 2020, Asia-Pacific was the highest contributor to the global market, and is anticipated to secure a leading position during the forecast period.

KEY FINDINGS OF THE STUDY

By product type, the stationary segment generated the highest revenue in 2020.

By bulk type, the dry segment generated the highest revenue in 2020. 

By technology, the mechanical segment generated the highest revenue in 2020. 

By application, the mining segment generated the highest revenue in 2020.

Region wise, Asia-Pacific generated the largest global ship loader and unloader market share in 2020.

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According to a new report published by Allied Market Research, titled, “Industrial Floor Coating Market by Resin Type, Flooring Material, Component, and End-User Industry: Global Opportunity Analysis and Industry Forecast, 2021–2028,” 

The global industrial floor coating market size was valued at $5.8 billion in 2020, and is projected to reach $9.4 billion by 2030, registering a CAGR of 4.8% from 2021 to 2030. On the basis of resin type, the epoxy segment is expected to witness a growth rate of 5.2% from 2021 to 2030 and reach $4,441.8 million in 2030. Based on flooring material, the concrete segment was the highest contributor to the market, with $3,016.4 million in 2020, and is estimated to reach $4,960.3 million by 2030. The key players in the market are offering industrial floor coating solutions as per the strict regulations set forth by authorities such as the U.S. EPA (U.S. Environment Protection Agency) and the U.S. FDA (U.S. Food and Drug Administration). For instance, BASF SE based in Germany offers polyaspartic flooring systems that are low odor and VOC compliant as per the U.S. FDA standards. These factors are expected to propel the industrial floor coating market growth during the forecast period.

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Growth of the construction sector in residential and commercial sectors has led to a favorable market for industrial floor coating goods to fulfill the need for long-lasting industrial floors from a fast-increasing population. Furthermore, epoxy type floor coating prevents water from leaking into the flooring and causing damage by sealing it against moisture. In addition, it provides a mildew-resistant barrier. However, there are a number of issues with epoxy floors in houses, both during the installation and maintenance processes. Thus, key players in this market have expanded businesses to improve the production rate of epoxy type floor coating. For instance, in June 2021, Lubrizol Corporation moved its production unit to its new plant in Carlton, UK. This will allow the company to serve new and future customers who require epoxy floor coating. 

Region-wise, the industrial floor coating market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. Asia-Pacific was the highest revenue contributor in 2020, which is expected to exhibit the highest CAGR from 2021 to 2030. This is attributed to the fact that emerging economies, such as India, China, Bangladesh, and others, in the region are witnessing increase in industrial development projects.

Moreover, rapid economic recovery significantly drives the industrial floor coating growth in this region. 

The players operating in the global industrial floor coating have adopted product launch as their key developmental strategy to strengthen their foothold in the global market. For instance, in March 2020, Sika AG, a Swiss multinational specialty chemical company launched ComfortFloor Marble FX, a resin flooring system, which is available in different colors and artistic design. Similarly, in September 2020, the U.S.-based PPG Industries, Inc., a global supplier of paints, coatings, and specialty material, developed PPG flooring coatings, which is a coating system that include base coats, prime coats, & topcoats and offers optimum performance based on the specific work environment. 

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The outbreak of COVID-19 has negatively impacted the industrial floor coating market, which is expected to hamper the growth of the market throughout the year. This has further affected the demand for epoxy and other flooring materials from developing countries, including India and China, thereby halting the production activities. In addition, disruption of supply chains is causing hindrance in production of industrial floor coating materials around the globe. All these factors together are anticipated to negatively impact the market growth.

Key companies profiled in the industrial floor coating report include BASF SE, Cipy Polyurethanes Pvt. Ltd., Cornerstone Flooring, Don Construction Products Ltd., Fosroc, Inc., MAPEI S.p.A., RPM International Inc., Sika AG, Twintec Group Limited, and VIACOR Polymer GmbH..

Key Findings Of The Study

• The report provides an extensive analysis of the current and emerging industrial floor coating market trends and dynamics.  
• Depending on resin type, the epoxy segment dominated the industrial floor coating market, in terms of revenue in 2020.
• By end-user industry, the others sector registered the highest revenue in 2020.
• Asia-Pacific is projected to register the highest growth rate in the coming years. 
• The report provides an extensive analysis of the current trends and emerging industrial floor coating market opportunities.
• In-depth industrial floor coating market analysis is conducted by constructing estimations for the key segments between 2020 and 2030. 
• The key players within the market are profiled in this report and their strategies are analyzed thoroughly, which help understand competitive outlook of the industrial floor coating industry.

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According to a new report published by Allied Market Research, titled, “Jet mill market type and end user industry: global opportunity analysis and industry forecast, 2020–2027,” the global jet mill market size is expected to reach $185.7 million in 2027 from $138.7 million in 2019, growing at a CAGR of 4.9% from 2020 to 2027. In 2019, Asia-Pacific dominated the market, in terms of revenue, accounting for 40.0% share of the jet mill market.

The major players operating in the jet mill industry include Erich NETZSCH GmbH & Co. Holding KG, Fluid Energy Processing and Equipment Company, Freund, Ltd., Hosokawa Micron Corporation, Kurimoto, Ltd., Promas Engineers Private Limited, Shandong Alpa Powder Technology Co., Ltd., The Jet Pulverizer Company, Inc., Kunshan Unique Machinery Co., Ltd., Midas Microtech Engineering Private Limited.

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Jet milling is a primary particle size reduction process, which utilizes compressed, high pressure air to generate high velocity collision between material particles that reduces its size. Jet mills are often used in chemicals, polymers, ceramics, and other industries for grinding friable material, which has the tendency to break into smaller pieces. Average particle size obtained from jet mills can range between 1 and 10 micron.

The COVID-19 pandemic has negatively affected the jet mill market mainly due to halt in international trade, prolonged lockdowns, and ceased manufacturing processes. In addition, major end-user manufacturing companies located in countries such as the U.S., China, Germany, and the UK are also facing financial impacts due to halted production, which is expected to hinder growth of the jet mill market in 2020.

Asia-Pacific is the highest contributor in the jet mill market trends. China and Japan held majority of the share in jet mill production, owing to high focus manufacturing of highly developed and low-cost machines.

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In addition, increase in demand for jet mills from developing nations in Asia-Pacific from growing food & beverages, pharmaceuticals, chemical, and other manufacturing industries is expected to drive the jet mill market growth.  

On the basis of end user industry, the chemical segment holds a major market share, owing to the increase in demand for abrasives and chemicals. Rise in focus on 3D printing technologies also boosts demand for micron sized particles, which can be obtained using jet mills.

The global jet mill market is segmented into type, end-user industry, and region. On the basis of type, the market is categorized into spiral jet mill, flat jet mill, opposed jet mill, target jet mill, and fluidized bed opposed jet mill. By end user industry, it is classified into chemical, pharmaceutical, food & beverages, textile, and others. Region wise, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, Italy, and rest of Europe), Asia-Pacific (China, Japan, South Korea, and rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa). Asia-Pacific held the largest market share during 2019, and is expected to grow at the fastest rate throughout the forecast period.

Key Findings Of The Study

• By type, the others segment dominated the jet mill market share in 2019.
• Depending on end user industry, the others segment garnered major share of the market in 2019.
• Region wise, Asia-Pacific dominated the market analysis in 2019.  

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According to a new report published by Allied Market Research, titled, “Facility Management Services Market,” The facility management services market size was valued at $1,253.30 billion in 2020, and is estimated to reach $2,525.10 billion by 2030, growing at a CAGR of 7.1% from 2021 to 2030.

Facility management services grows the value of the property by offering different maintenance arrangements. Besides, these services offer the more vital returns over the real estate to land proprietors through organizational and value-added arrangements. The facility management services maintains the functional and monetary objectives of the owners. The services include applications, such as security, plumbing, electrical solutions, and cleaning for various purposes.

The major players profiled in the facility management services industry include, Group Atalian (Arthur McKay & Co Ltd.), BVG India Ltd., CBRE Group, Inc., EMCOR Group, Inc., ISS World Services A/S, Knight Facilities Management, Quess Corp Ltd., Sodexo, Inc., Downer Group (Spotless Group), and Tenon Group. Major companies in the market have adopted acquisition, partnership and agreement as their key developmental strategies to offer better products and services to customers in the market.

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Rise in spending over construction projects drives the facility management services market growth. The growing investment is due to rise in demand for the development of commercial and residential properties. Such investments include services such as maintenance, cleaning and landscaping. Hence, the growing spending towards construction drives the growth of the market. In addition, the urban population in developing countries is on the rise. Countries such as India, Africa, and China demand for commercial and residential buildings owing to rise in urbanization. Moreover, this leads to the growth of various industries, including petroleum, mining, transportation, and pharmaceuticals. The growing industrial sector demands for maintenance operations of the facilities on timely basis. Hence, rise in urbanization drives the growth of the market. Moreover, awareness towards safeguarding the assets and properties by different companies and organizations is growing, which leads to adoption of maintenance and security solutions, which is expected to drive the growth of the facility management services market.

However, lack of education in different developing countries restrains the growth of the market. Lack of education leads to shortage of skilled workforce and low understanding of facility management services. In addition, many companies make use of outsourced facility management services instead of in-house services. Thus, hampering the growth of the market.

The outbreak of COVID-19 led to halt in logistic and manufacturing activities across the globe, which, in turn, led to interruption of supply chain, thereby hindering growth of the facility management services market. However, this situation is expected to improve as governments globally are relaxing norms for resuming business activities.

On the contrary, advancement of technology owing to use of Internet of Things (IoT) provides better security, which is predicted to create lucrative opportunities for companies operating in the  market. In addition, different initiatives by governments lead to rise in investments over commercial and railway projects. This in turn, is expected to offer new opportunities for the facility management service providers.

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The facility management services market is segmented on the basis of service type, type, end user, and region. By service type, the market is bifurcated into a property, cleaning, security, catering, and others. By type, the market is segmented into outsourced and in-house. By end user, the market is divided into commercial, institutional, public/ infrastructure, industrial, and others.

Region-wise, the facility management services market analysis is conducted across North America (the U.S., Canada, and Mexico), Europe (the UK, France, Germany, Italy, and rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa). In 2020, Asia-Pacific was the highest contributor to the global Facility management services market share, and LAMEA is anticipated to secure a leading position during the forecast period.

KEY FINDINGS OF THE STUDY

• The report provides an extensive analysis of the current and emerging global facility management services market trends and dynamics.
• By service type, the property segment was the largest revenue generator in 2020.
• By type, the in-house segment generated the highest revenue in 2020.
• By end user, the commercial segment dominated the market in 2020.
• Region-wise, Asia-Pacific is anticipated to dominate the facility management services industry during the forecast period.
• The global facility management services market opportunity analysis from 2021 to 2030 is included in the report.

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