Asia-Pacific Hard Facility Management Market Size

APAC Hard Facility Management Market Analysis

The Asia-Pacific hard facility management (HFM) market revenue is expected to record a CAGR of 8.5% over the next five years. The market is anticipated to continue growing due to the increased urbanization and population in the region.

• To find ways to combat air pollution in Asia-Pacific, the Economic and Social Commission for Asia and the Pacific (ESCAP) of the United Nations hosted several knowledge-sharing workshops. These discussions centered on enhancing regional collaboration and facilitated a wider interchange of creative approaches to reducing air pollution and best practices, including necessary regulations, data, and technology. HVAC systems are crucial to maintaining high interior air quality with sufficient ventilation and filtration. HVAC cleaning services are necessary to clean and maintain the ventilation ducts, filters, chimneys, and other system components from dust, debris, and germs.
• The increased potential expansion of retail, commercial, and residential is expected to propel the Asia-Pacific facility management industry in the next six years. The region is primarily driven by an increase in industrial and building activity, particularly in the commercial sector, which is backed by several government programs like the "Smart City Mission of India." The growing several commercial buildings in India, China, and Singapore are giving rise to the demand for hard facility services from construction design and fire equipment to escalator maintenance.
• Since the pandemic's start, macroeconomic and geopolitical headwinds have put pressure on distribution networks and exposed weaknesses in supply chains throughout the Asia-Pacific, with the region's heavy equipment and HVAC facility maintenance services being among those most impacted. Because construction supplies are more difficult to get and need longer lead times, these supply chain bottlenecks are considerably lengthening the schedules for commercial build-out and occupant improvement projects throughout the area.
• Furthermore, growth in tourists, particularly from Southeast Asian nations like Thailand, Indonesia, the Philippines, Malaysia, India, and Maldives, is supporting the growing hospitality sector. The growing demand for tourist accommodations has created opportunities for hiring a facility management team, which is held accountable for managing hotel properties and tourist amenities. This prominent role played by facility management is anticipated to positively affect the growth of the Asia-Pacific facility management market over the forecast period.
• After the epidemic, regulations still encourage proper cleanliness practices. Included in these procedures are the placement of hand sanitizers in all public places, an increase in office ventilation, and air purification. Other safety precautions include face mask zones, a one-way system, and social seclusion by designed light weigh cubicles. It would be incumbent on facility managers to maintain these standards going ahead and to make sure that all precautions are taken.