Nigeria Facility Management Services Market is projected to reach $12.7 billion by 2027 | Allied Market Research

rise in investments in the construction and public infrastructure industry

PORTLAND, OR, UNITES STATES, March 17, 2022 /EINPresswire.com/ -- This research report will give you deep insights about the Nigeria Facility Management Services Market and it will also help you in strategic decision making. The final research document is an exhaustive document comprising pages. All our reports are usually purchased across industries by Executives, Managers, Senior Managers, Strategy people, Directors, Vice Presidents, CXOs, etc. and help them in understanding about the market trends and analysis, competition, industry landscape, market size, market revenue, forecast, COVID-19 impact analysis, SWOT analysis, etc.

Nigeria facility management services market was valued at $8.4 billion in 2019, and is projected to reach $12.7 billion by 2027, registering a CAGR of 6.4% from 2020 to 2027. The commercial segment is estimated to generate around three-fourths share of the Nigeria facility management services market during the forecast period.

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The novel coronavirus has undesirably affected a variety of facility management services, which include catering, security, plumbing, and electrical amongst others for the building industry. The adverse trends in the Nigerian economy is projected to worsen the growth of the Nigeria facility management services industry. Additionally, travel bans due to lockdown and absence of workforce have also influenced the demand for facility management services in Nigeria. In Addition, reduced consumer demand and consumption has led to decline and stoppage of sales of facility management services in Nigeria during the current economic year. Hence, the facility management services market in Nigeria is anticipated to be adversely affected in 2020.

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On the other hand, growth in investments and incentives by the government for the construction industry and infrastructure sector is anticipated to offer remunerative opportunities for the market growth. Further, increase ininvestments in commercial infrastructure is expected tocreate the need for effective facility management solutions such as security, cleaning, and catering. This, in turn, is expected to accelerate the growth of the Nigeria facility management services market. Furthermore, investments in railways, roadways, and airport constructions in the country are anticipated togenerate the need for the facility management services, thereby leading to market growth.

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the Nigeria facility management services market has witnessed significant growth over the past decade, owing to rise in investments in the construction and public infrastructure industry. In addition, rise in awareness among individuals toward protecting their assets is anticipated to fuel the demand for the Nigeria facility management services market. On the contrary, the uncertain economic conditions in the country is expected to hamper the growth of the market.

Market players-
ncludeAlpha Mead Group, Briscoe Properties Limited, Cxall Facilities Management, Eko Maintenance, FilmoRealty, Global PFI Group, Grandeur Real-Estate Company, Green Facilities Ltd., Libra Reliance Properties, Provast, Trim Estate & Facility Management Services, and Willco Property Management.
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David Correa
Allied Analytics LLP
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