Expanding Market Size for Building Maintenance Services | Compound Annual Growth Rate of 8.40%
The Building Maintenance Services market saw a significant surge in 2024, with Facility Management Companies holding the leading position, commanding over 40% of the market share. This dominance is likely to continue as the demand for high standards in cleanliness, functionality, and public health compliance continues to rise, driven by evolving building regulations and tenant expectations.
The Outsourced Services segment accounted for the largest share of the market in 2024, contributing more than 41%. The market outlook remains positive, shaped by modernization and evolving customer expectations.
Urbanization, the need for smart and sustainable building solutions, the demand for energy efficiency, aging infrastructure requiring retrofitting, and government mandates promoting green building standards are primary drivers of the market's growth. Facilities managers and property owners are increasingly adopting digital energy management platforms integrated with IoT, AI, and smart sensors to optimize operations and reduce costs.
The global Building Maintenance Services Market is projected to grow from USD 4.35 billion in 2024 to approximately USD 9.7 billion by 2034, with a compound annual growth rate (CAGR) of 8.40% during the forecast period from 2025 to 2034.
Technological integration is reshaping the industry, enabling predictive maintenance, reducing downtime, and improving operational efficiency. Key players like Power Climber, Jomy SA, Heightsafe Systems Limited, Andrew Engineering, FBA Gomyl, and Alimak Group are leveraging smart technologies and IoT to provide innovative solutions.
Opportunities for market growth lie in the adoption of eco-friendly cleaning products and sustainable practices, as clients increasingly prioritize environmentally responsible services, and services addressing occupant wellness such as enhanced indoor air quality and optimized natural lighting.
In 2024, North America led the global Building Maintenance Services market, securing over 34% of the total market share and generating approximately USD 1.4 billion in revenue. The U.S. Building Maintenance Services market alone was valued at USD 1.4 billion in 2024 and is expected to grow at a CAGR of 5.3%.
The Commercial Building segment dominated the market in 2024, capturing more than 34% of the market. The demand for building maintenance services has significantly increased due to the growing emphasis on sustainability and energy efficiency, with property owners and facility managers taking a more proactive approach to building upkeep.
Notable players like NSS Group (now part of Premier Technical Services Group) and Akrobat Pte Ltd are making strides in the market, with Akrobat Pte Ltd supporting major landmarks like Marina Bay Sands and Resorts World Sentosa.
In conclusion, the Building Maintenance Services Market's growth is powered by sustainability goals, technology adoption, regulatory pressures, and infrastructure aging, with an estimated forecast CAGR around 6-12% in the 2025–2034 period based on related energy management and foundation repair market projections.
- The global Building Maintenance Services Market, driven primarily by sustainability goals and technological advancements, offers potential for growth in education and self-development, as facilities managers and property owners seek to adopt digital energy management platforms, expand their knowledge of smart technologies, and optimize operations for cost reduction.
- General news coverage may delve into the growing Building Maintenance Services Market, highlighting trends such as the adoption of eco-friendly cleaning products, the rise of smart building solutions, and the market's shift towards catering to occupant wellness, such as enhanced indoor air quality and optimized natural lighting.
