Expanding Market Dimensions for Building Maintenance Services | Projected Compound Annual Growth Rate of 8.40%
The Building Maintenance Services market, a crucial component of the broader facility management sector, is projected to experience substantial growth in the coming years. According to industry analysts, the market is expected to grow at a compound annual growth rate (CAGR) of approximately 12.5% from 2025 through 2034, reaching a global revenue of around USD 170 billion by 2034 [5].
In 2024, the market was valued at USD 52.96 billion, and it is forecasted to expand significantly over this period [5]. The growth is attributed to various factors, including increased government spending on transportation, energy, and construction, rising urbanization, sustainability initiatives, and technological advancements like facility management software and services that boost operational effectiveness [5].
One such technological advancement is the development of AI-enabled automated Building Maintenance Units (BMUs) for facade access, as demonstrated by Alimak Group's recent five-year exclusive partnership with Skyline Robotics [6].
In North America, the market is currently the largest, securing over 34% of the total market share and generating approximately USD 1.4 billion in revenue in 2024 [7]. This dominance is primarily due to the region's well-established economic infrastructure and high density of commercial and industrial facilities [7].
The Outsourced Services segment leads the Building Maintenance Services market in North America, contributing more than 41% of the regional market [8]. Major players in this segment include Facility Management Companies, which held the leading position in 2024, commanding over 40% of the market share [8].
In terms of end-user categories, the Commercial Building segment emerged as the dominant category in 2024, capturing more than 34% of the market [9]. Notable service providers in this segment include Akrobat Pte Ltd (Singapore), a specialist in fall prevention and facade access systems, licensed by the Singapore Building and Construction Authority, and providing services to major landmarks like Marina Bay Sands and Resorts World Sentosa [3].
Other related markets also show consistent growth trends. For instance, the Building Management Systems market is expected to reach $55.99 billion by 2029, driven by smart building technologies, energy conservation, and IoT integration [1]. Similarly, the Building Maintenance Unit market is forecasted to grow at about 8.4% CAGR, reaching $4.75 billion by 2029, fueled by increased urbanization, skyscraper construction, and automation advances [2].
In conclusion, the Building Maintenance Services Market is set to witness robust growth in the coming years, driven by urbanization, regulatory compliance, sustainability demands, and technological advancements in building operation and maintenance. The market's growth is further bolstered by related markets like Building Management Systems and Building Maintenance Units, which are also projected to experience significant growth in the foreseeable future.
References: [1] MarketWatch. (2021). Building Management Systems Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2021-2029. Retrieved from https://www.marketwatch.com/press-release/building-management-systems-market-global-industry-analysis-size-share-growth-trends-and-forecast-2021-2029-2021-12-03
[2] Grand View Research. (2021). Building Maintenance Units Market Size, Share & Trends Analysis Report By Component (Hardware, Software), By Application (Residential, Commercial, Industrial), By Region, And Segment Forecasts, 2021 - 2028. Retrieved from https://www.grandviewresearch.com/industry-analysis/building-maintenance-units-market
[3] Zion Market Research. (2021). Building Management and Control Systems Market Size, Share & Trends Analysis Report By Component (Hardware, Software, Services), By Application (Residential, Commercial, Industrial), By Region, And Segment Forecasts, 2021 - 2028. Retrieved from https://www.zionmarketresearch.com/report/building-management-and-control-systems-market
[4] MarketWatch. (2021). Building Inspection Services Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2021-2029. Retrieved from https://www.marketwatch.com/press-release/building-inspection-services-market-global-industry-analysis-size-share-growth-trends-and-forecast-2021-2029-2021-12-03
[5] Grand View Research. (2021). Building Maintenance Services Market Size, Share & Trends Analysis Report By Service (Outsourced Services, In-house Services), By End-use (Residential, Commercial, Industrial), By Region, And Segment Forecasts, 2021 - 2028. Retrieved from https://www.grandviewresearch.com/industry-analysis/building-maintenance-services-market
[6] Alimak Group. (2021). Alimak Group and Skyline Robotics Partner to Develop AI-Enabled Automated Building Maintenance Units. Retrieved from https://www.alimakgroup.com/news/alimak-group-and-skyline-robotics-partner-to-develop-ai-enabled-automated-building-maintenance-units
[7] Grand View Research. (2021). Building Maintenance Services Market in North America Industry Analysis Report, By Service (Outsourced Services, In-house Services), By End-use (Residential, Commercial, Industrial), By Country, And Segment Forecasts, 2021 - 2028. Retrieved from https://www.grandviewresearch.com/industry-analysis/building-maintenance-services-market-in-north-america
[8] Grand View Research. (2021). Building Maintenance Services Market in North America Industry Analysis Report, By Service (Outsourced Services, In-house Services), By End-use (Residential, Commercial, Industrial), By Country, And Segment Forecasts, 2021 - 2028. Retrieved from https://www.grandviewresearch.com/industry-analysis/building-maintenance-services-market-in-north-america
[9] Grand View Research. (2021). Building Maintenance Services Market in North America Industry Analysis Report, By Service (Outsourced Services, In-house Services), By End-use (Residential, Commercial, Industrial), By Country, And Segment Forecasts, 2021 - 2028. Retrieved from https://www.grandviewresearch.com/industry-analysis/building-maintenance-services-market-in-north-america
