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Report
Ireland Facility Management Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)
Market Report I 2022-06-01 I 100 Pages I Mordor Intelligence
The Ireland facility management market is expected to grow at a CAGR of above 1.6% during the forecast period, 2022-2027. Ireland's facility management industry operates with integrated contracts provided by significant global vendors and small local players focussing on single contracts and single-service solutions.
Key Highlights
In terms of end-user demand, the public sector's contribution to the facility management market in Ireland is more significant than any other end-user. This is primarily driven by the government's constrained budgets that lead to the continuous outsourcing of essential facility management services.
For instance, in December 2021, it was reported that the Irish Prisons Service spent EUR 5.6 million in 2020. The deal for facilities management services in Ireland's prisons was done with LMC FM, a company with offices in Dublin and Tipperary. The contract is due to last until the end of 2027.
However, the growing competition in the market impacts the profit margins and growth of existing vendors. The level of competition between suppliers is so high that the FM services are transitioning to be commoditized in the country.
Considering the market for Ireland facility management, it has been subjected to moderate growth due to the rise in demand for people with an improved requirement. The Facility Management providers will need to navigate how to communicate with a broad audience, including subcontractors, suppliers, customers, other third parties, employees and contractors, regulators, analysts, and markets.
Owing to the COVID-19 pandemic, FM providers in Ireland should review and revise business contingency plans and test alternative methods to enable options such as slimmed-down office hubs and remote working with sequential impacts for network bandwidth, user licenses, etc.
Key Market Trends
Commercial Segment expected to hold a Significant Market Share
The commercial end-user sector covers office buildings occupied by business services, such as corporate offices of manufacturers, IT and communication, and other service providers.
Owing to this, the provision of necessary fitments and interiors and commercial building decoration and management has gained significant importance, driving the country's commercial sector market.
The Facility Management market is witnessing multiple partnership activities between the vendors and the commercial entities in Ireland. For instance, in February 2022, BAM FM secured a series of new contracts across various commercial sectors like energy, housing, and education in Ireland.
BAM FM partnered with Student Roost, a student accommodations provider, to manage over 50 of its student residences across the UK and Northern Ireland. Student Roost aims to add two or three more properties each year in the country using the FM services from BAM FM.
Moreover, in March 2022, Edgnex partnered with JLL to manage its upcoming facilities. The company is planning to build a data center campus that could reach 70MW+, on a greenfield parcel of land bought jointly by DAMAC and Dataplex in Abbotstown, near Dublin. These developments are poised to drive the demand for FM services in the commercial space in the country.
Integrated Facility Management is expected to witness the highest growth rate
There is a paradigm shift in the market as multiple industries are transforming from utilizing a single FM outsourcing type of model to an integrated services model that can meet all the core needs of customers on a large scale.
The ongoing war between Russia and Ukraine has increased the demand for hostels due to the sudden inflow of refugees into Ireland. In April 2022, Allpro Services, an integrated facilities management company bagged the contract for managing the hostel accommodation.
Vendors in the country have been indulging in acquisitions to offer FM services to their customers that offer multiple advantages for clients.
The rising number of real estate activities in the country is driving the demand for integrated facilities management services. According to Eurostat, the total revenue generated from real estate activities in Ireland is expected to cross USD 5.5 billion by the end of 2025.
Competitive Landscape
The Ireland Facility Management Market is fragmented with the presence of numerous players of different sizes. This market is expected to experience a number of mergers, acquisitions, and partnerships as companies continue to invest in offsetting the present slowdowns that they are experiencing strategically.
April 2022 - Global integrated facility services and solutions provider, ABM, completed its acquisition of Dublin-based Momentum Support, in an all-cash transaction. This acquisition is reflective of ABM's ELEVATE strategy to grow via strategic acquisitions which expand the company's footprint in attractive geographies and end-markets.
Additional Benefits:
The market estimate (ME) sheet in Excel format
3 months of analyst support
1 INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET INSIGHTS
4.1 Market Overview
4.2 Industry Attractiveness - Porter's Five Force Analysis
4.2.1 Bargaining Power of Suppliers
4.2.2 Bargaining Power of Consumers
4.2.3 Threat of New Entrants
4.2.4 Intensity of Competitive Rivalry
4.2.5 Threat of Substitute Products
4.3 Assessment of COVID-19 Impact on the Market
5 MARKET DYNAMICS
5.1 Market Drivers
5.1.1 Growing Demand for Efficiency in Supply Chain
5.1.2 Increasing Focus on Industry 4.0, Leading to More Manufacturing Facilities
5.2 Market Restraints
5.2.1 Market Saturation in the Public Sector
6 MARKET SEGMENTATION
6.1 By Type
6.1.1 Inhouse Facility Management
6.1.2 Outsourced Facility Management
6.1.2.1 Single FM
6.1.2.2 Bundled FM
6.1.2.3 Integrated FM
6.2 By Offering Type
6.2.1 Hard FM
6.2.2 Soft FM
6.3 By End-User
6.3.1 Commercial
6.3.2 Institutional
6.3.3 Public/Infrastructure
6.3.4 Industrial
6.3.5 Other End-user
7 COMPETITIVE LANDSCAPE
7.1 Company Profiles*
7.1.1 CBRE Group Inc
7.1.2 Sodexo Group
7.1.3 Kier Group PLC
7.1.4 Society of Chartered Surveyors Ireland
7.1.5 Cushman & Wakefield PLC
7.1.6 O'Brien Facilities Ltd
7.1.7 Savills PLC
7.1.8 Techcon FM Services Ltd
7.1.9 Reliable Facilities Management Private Limited
7.1.10 JPM Group
7.1.11 Manor Properties
7.1.12 Waterford Property Care
7.1.13 ACS Construction & Facilities Management
7.1.14 Mason Owen & Lyons Property Management Services Limited
8 INVESTMENT ANALYSIS
9 FUTURE OF THE MARKET
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