|By PR Newswire||
|March 31, 2014 01:50 PM EDT||
NEW YORK, March 31, 2014 /PRNewswire/ -- Reportlinker.com announces that a new market research report is available in its catalogue:
Analysis of the Indian Mechanical Electrical Plumbing (MEP) Services Market
•The mechanical electrical plumbing (MEP) services market is going through a growth phase, although the growth is little muted due to the prevailing economic and political uncertainties.
•MEP services market is highly fragmented with hundreds of contractors in India, however not all have a pan-India presence.
•The MEP services market is highly competitive for all categories of MEP contractors.
•In the overall MEP services market, the top 8 industry participants account for less than xx% of the total revenue.
•The estimated annual revenue generated by MEP services market stands at about INR xx billion in FY 2013.
•The growing number of complex construction projects has resulted in specialised activities that address all the MEP needs of an end user.
•The market participants expect to see a boost in growth after the general election in 2014.
MEP Services Scope and Definitions
•The MEP services market is comprised of companies that install the mechanical, electrical and plumbing equipment in a building. These companies may or may not be involved in the designing process.
•The study covers the overall MEP services market in India, which encompasses the residential, commercial, industrial and infrastructure end users.
Key Industry Challenges
The market faces many challenges such as the 'perfect competition' business environment that exists in the Indian market for MEP services. Moreover, the economic instability in the country and the world further compounds the crisis. The key challenges being faced by the market participants are:
•Price undercutting by category-B contractors: The market has hundreds of contractors who tend to shift sectors to compete on prices; the one with the lowest quote price is usually handed the contract. This is true for all the categories of contractors (A, B, C, D). Therefore customer relationship plays a significant role.
•Customers tactics of playing one-against-the-other: Since most services offered by a contractor are indistinguishable from its competitor, customers find it easy to play one against the other in order to extract the best price possible. This also means that contractors need to communicate better with prospective clients to convey their value proposition rather than only focusing on the price.
•Payment delays: The economic crisis has upset the normal growth trajectory of most sectors and real estate development is no exception. The payment cycles have been affected as they are deferred to a later date. This make is difficult for contractors to grow business, hire professionals, pay for material equipment and so on.
Drivers and Restraints Impacting MEP Services Market
Forecasts and Trends in Indian MEP Services Market
Value Chain and Role of Key Entities
The Frost & Sullivan Story
To order this report: Analysis of the Indian Mechanical Electrical Plumbing (MEP) Services Market
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