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Mechanical Electrical and Plumbing Support System Market Share
The market is a fragmented industry with prominent players operating in the market such as Mason Industries, Eaton Corporation, Atkore International, Legrand Group, Hilti, among others. These companies contributing about 25% of the overall market in 2023. To meet the growing consumer demand, key players are adopting strategic steps such as mergers, acquisitions, partnerships, and collaboration in order to consolidate their position in the MEP system market. In addition, key players are also constantly innovating their products to improve their performance, efficiency, and reliability.
Providing industry-specific products should help companies in stimulate their mechanical electrical plumbing support system market share. Also, they are engaging in long-term contracts with raw material suppliers and distributors to avoid situations such as the unavailability of raw materials and high supplier bargaining power. Such strategic alliances also help in strengthening their supply chain enabling timely delivery of their products and nourishing their brand equity. To surpass emerging competition from new entrants, existing companies are extending their product line making their product portfolio more diverse.
Mechanical Electrical and Plumbing Support System Market Companies
Major companies operating in the mechanical electrical and plumbing support industry include:
- Atkore International
- Eaton Corporation
- Hilti
- Legrand Group
- Mason Industries
Why is mechanical electrical and plumbing support hardware gaining traction?
The hardware segment held more than 55% revenue share in 2023 and is poised to witness significant growth through 2032 to provide better structural support and stability to the installed systems.
What is the size of the MEP support market?
The market size of mechanical electrical and plumbing support reached USD 43.3 billion in 2023 and is set to grow at USD 76.5 billion by 2032, attributed to the rising need for energy-efficient prefabricated systems in construction.
Who are the leading MEP support market players?
Some of the major mechanical electrical and plumbing support companies are Atkore International, Eaton Corporation, Hilti, Legrand Group, and Mason Industries.
How big is the North America MEP support industry?
North America market is poised to expand at 5.8% CAGR from 2024 to 2032, owing to the strong emphasis on sustainability and green building practices in the region.