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MORE ON MEP IN THE REGION: Vision wins Princess Nora MEP job; DSI wins Abu Dhabi Hotel contract; Trane supplies HVAC systems for Dubai Metro; Turn your air-con off, urges MEP firm
Frost & Sullivan is predicting boom times for the MEP industry in the Middle East.
According to the research firm, the regional MEP services market was worth US $13.53 billion in 2008, a figure that will grow to $22.44 billion in 2013.
Saudi Arabia, Qatar, and Abu Dhabi will be the key markets driving growth in the industry.
“Moreover, improved awareness about energy and environment sustainability as well as public health and safety concerns are expected to go a long way in boosting the market for MEP services in the next five years,” said Frost & Sullivan Research Analyst Vivek Vijayakumar.
“Already, the most in-demand service of the construction industry, MEP’s popularity will soar further with the strengthening of the GCC’s commercial, residential, hospitality, infrastructure, and educational sectors.”
Amongst the challenges identified are rising materials and labour costs, as well as a ‘brain drain’ of migrant workers back to their home countries.
The issue of rising labour costs and reverse brain drain can be countered by investing in technological innovations that boost productivity and efficiency.
“To gain a competitive edge, it is critical for MEPs contractor to offer scalable and comprehensive contracting service solutions and back those up with effective qualified manpower for project design, installation, and service support,” said Vijayakumar.
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