Increase in urbanization & industrialization, surge in residential and non-residential construction activities, and growth in awareness regarding the protection of assets drive the growth of the Taiwan facility management services market. Based on type, the in-house segment accounted for the major share in 2020. Based on end-user, on the other hand, the commercial segment contributed to the highest share in the same year.
Portland, OR, Sept. 28, 2021 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the Taiwan facility management services market was estimated at $8.39 billion in 2020 and is expected to hit $14.33 billion by 2030, registering a CAGR of 5.7% from 2021 to 2030. The report provides an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive scenario, and wavering market trends.
Increase in urbanization & industrialization, surge in residential and non-residential construction activities, and growth in awareness regarding the protection of assets drive the growth of the Taiwan facility management services market. On the other hand, lack of managerial awareness and huge dependency on the in-house facility services impede the growth to some extent. However, rising government investments in the building infrastructure sector are expected to create lucrative opportunities in the industry.
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The outbreak of the pandemic gave way to halted business operations to comply with the mandatory government regulations for curbing the spread of COVID-19. This, in turn, affected the revenue flow of the Taiwan facility management services market.
In addition, no new consignments were received by the companies operating in this sector, especially during the initial phase, thereby impacting the market negatively.
The Taiwan facility management services market is analyzed across service type, type, end-user, and region. Based on service type, the property segment contributed to nearly one-third of the total market share in 2020, and is expected to lead the trail by 2030. The catering segment, on the other hand, would cite the fastest CAGR of 6.8% from 2021 to 2030.
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Based on type, the in-house segment accounted for nearly three-fifths of the total market revenue in share in 2020, and is anticipated to rule the roost by 2030. The outsourced segment, however, would grow at the fastest CAGR of 6.7% from 2021 to 2030.
Based on end-user, the commercial segment held the major share in 2020, generating nearly half of the Taiwan facility management services market. The institutional segment, on the other hand, would manifest the fastest CAGR of 6.5% during the forecast period.
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The key market players analyzed in the Taiwan facility management services market report include Diversey Holdings Ltd, AssetPlus Taiwan Limited, ISS A/S, Cushman & Wakefield Inc, G4S Limited, Jones Lang LaSalle IP, Inc, CBRE Group Inc, UEMS Solutions, Colliers, and Rentokil Initial Plc. These market players have incorporated several strategies including partnership, expansion, collaboration, joint ventures, and others to brace their stand in the industry.
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