Market Size of Lithuania Facility Management Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 3.48 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Lithuania Facility Management Market Analysis
The Lithuania facility management market is expected to register a CAGR of 3.48% during the forecast period, 2022-2027. The government-led construction boom and surging emphasis on green building practices increase the demand for facility management in Lithuania.
- Lithuania's facility management industry operates with integrated contracts provided by vendors across continents and borders, and small local players focus on single contracts and single-service solutions. However, there are increasing opportunities to leverage facility management and corporate real estate in new ways, given the dynamics occurring across the country.
- Several construction works are going on in the country, providing an opportunity for the facility management market. For instance, in Oct 2021, Petrofac received a contract of USD 640 million from PC ORLEN Lietuva to expand Mazeikiai Refinery in Lithuania. The company will support the refinery's modernization and environmental upgrade work.
- Moreover, in Oct 2021, The ECIEEA signed a EUR 19.7 million loan agreement for the Global Rail Baltica project. The agreement includes the design of the Kaunas railway and maintenance facility infrastructure in Lithuania.
- Various permits are being issued in the region for the waste management and storage facility, which is, in turn, expected to drive the market growth. For instance, in April 2022, Lithuania's State Nuclear Power Safety Inspectorate (Vatesi) issued two licenses to the Ignalina Nuclear Power Plant (INPP) to commence the industrial operation of radioactive waste management and storage facility.
- The outbreak of COVID-19 has had a mixed business impact on facilities management firms, as the restrictions on the movement of people have resulted in a decline in project work and a reduced level of activity across many customer sites.
- FM providers have been experiencing supply chain disruptions leading to difficulties in procuring materials and supplies. Also, they have found it harder to cope with staff shortages owing to various factors that include lockdown restrictions, self-isolation, and illness. However, the readily built environment has played an essential role in supporting multiple industries from health and social care to transport and utilities and helped tackle the spread of the virus.
