Norway Facility Management Market - Growth, Trends, COVID-19 Impact, Forecasts (2022-2027)

Norway Facility Management market is Segmented by End-user (Commercial, Institutional, Public/Infrastructure, Industrial), Facility Management type (In-house Facility Management and Outsourced Facility Management), and Offering type (Hard FM and Soft FM).

Market Snapshot

Norway Facility Management Market
Study Period: 2020-2027
Base Year: 2021
CAGR: 2.5 %

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Market Overview

The Norway Facility Management Market is expected to grow at a CAGR of 2.5% over the forecast period 2022 to 2027. Norway is supposed to be one of the most mature and sophisticated outsourced markets for facility management services.

  • Norway is one of the significant outsourced markets for facility management services in terms of development and sophistication. The country's facility management industry operates with integrated contracts provided by significant vendors across continents and nations, and small local players focus on single contracts and single-service solutions. However, they are increasing opportunities to leverage facility management and corporate real estate in new ways.
  • Moreover, facility management (FM) includes management methods and techniques for building management, infrastructure management for an organization, and overall harmonization of the work environment in an organization. This system standardizes services and streamlines processes for an organization.
  • ISS Facility Services in Norway has announced an agreement with energy giant Equinor to provide services to its office locations on July, 2021. The deal is for five years, with the possibility of a five-year extension.
  • Nordic IoT Networks (Niot) was built to deliver quick LoRa network coverage across Sweden, Norway, and Denmark to address the growing demand for IoT connection spurred by the increasing number of IoT projects and sensors deployed. For instance, In 2021, Netmore Group, a specialist IoT operator, acquired Nordic IoT Networks. Netmore connects properties, offers private and open 5G networks, and uses LoRaWAN to enable massive IoT connectivity.
  • Facilities management organizations have experienced a diverse response to the COVID-19 outbreak. The restrictions on people's movement resulted in a drop in project work and a slowdown in activity at numerous client sites. The pandemic lockdown had a negative impact on significant industry participants such as ISS Facility Services, Coor Service Management, Presis Vegdrift AS, Toma Facility Services AS, Sodexo, and others.

Scope of the Report

Facility management (FM) is a profession that incorporates many disciplines to ensure functionality, safety, comfort, and efficiency of the built environment by integrating people, process, place, and technology. FMs contribute to the business's bottom line through their responsibility for maintaining what is often an organization's most significant and most valuable assets, such as property, equipment, buildings, and other environments that house personnel, productivity, inventory, and other elements of the operation. The objective of professional FM as an interdisciplinary business function is to coordinate the demand and supply of facilities and services in both public and private organizations.

By Facility Management
In-house Facility Management
Outsourced Facility Management
Single FM
Bundled FM
Integrated FM
By Offering Type
Hard FM
Soft FM
By End-User
Commercial
Institutional
Public/Infrastructure
Industrial
Other End-Users

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Key Market Trends

Industrial Sector is Expected to Witness Significant Growth

  • The gaining interest in establishing smart buildings, comprehensive climate solutions for controlling the temperature and humidity of a building, and manufacturing environment provide various opportunities for the vendors in the market to introduce industrial-based facility management and accelerate the growth of commercial properties and equipment in Norway. For instance, in June 2021, Kaph Entreprenor AS ("Kaph"), a Norwegian company, has agreed to be acquired by Polygon Group. Kaph and Polygon are both claims remediation firms specializing in Project Management and repairing building damage caused by floods, fire, and other weather events.
  • In Norway, investment companies usually decide to specialize either in the residential or commercial property market. As commercial investments suggest higher cash flow potential and often provide better returns on investment, the commercial buildings segment offers lucrative opportunities, making them an attractive form of investment in the country, consequently boosting the Facility Management Market's growth during the forecast period.
  • According to an E.U. observer report, Norway is a significant oil producer, with a strong economy and low unemployment. The oil and gas industry is booming. As the largest oil producer in Western Europe, Norway has numerous oil firms such as Equinor ASA, Aker BP AS, Total S.A., Exxon Mobil Corporation, Lundin Energy Norway, and others. These oil firms generate billions in revenue, which creates opportunities for Facility Management services in Norway.
  • Equinor, Norway's largest energy business, opened a representative office in Hanoi in May 2022 to leverage the country's growth potential.
  • Norway's security and safety in the oil and gas industry create opportunities for service businesses, equipment suppliers, and other third parties to perform specialized on-site operations.
Norway Facility Management Market

Tech innovations in Facilities Management is Expected to Witness Significant Growth

  • The gaining interest in establishing smart buildings, comprehensive climate solutions for controlling the temperature and humidity of a building, and manufacturing environment provide various opportunities for the vendors in the market to introduce industrial-based facility management and accelerate the growth of commercial properties and equipment in Norway. For instance, in June 2021, Kaph Entreprenor AS ("Kaph"), a Norwegian company, has agreed to be acquired by Polygon Group. Kaph and Polygon are both claims remediation firms specializing in Project Management and repairing building damage caused by floods, fire, and other weather events.
  • In Norway, investment companies usually decide to specialize either in the residential or commercial property market. As commercial investments suggest higher cash flow potential and often provide better returns on investment, the commercial buildings segment offers lucrative opportunities, making them an attractive form of investment in the country, consequently boosting the Facility Management Market's growth during the forecast period.
  • According to an E.U. observer report, Norway is a significant oil producer, with a strong economy and low unemployment. The oil and gas industry is booming. As the largest oil producer in Western Europe, Norway has numerous oil firms such as Equinor ASA, Aker BP AS, Total SA, Exxon Mobil Corporation, Lundin Energy Norway, and others. These oil firms generate billions in revenue, which creates opportunities for Facility Management services in Norway.
  • Equinor, Norway's largest energy business, opened a representative office in Hanoi in May 2022 to leverage the country's growth potential.
  • Norway's security and safety in the oil and gas industry create opportunities for service businesses, equipment suppliers, and other third parties to perform specialized on-site operations.
Norway Facility Management Market

Competitive Landscape

The Norway facility management market is a fragmented market. It is a highly competitive market without many dominant players present in the market.

  • May 2022 - Siemens Smart Infrastructure created an open, modular software suite for the electrical grid that allows for more efficient digital twin modeling. The program allows engineers to keep the power grid cyber-resilient while simultaneously producing a digital twin of the grid for planning, simulation, real-time operations, and grid maintenance.
  • July 2021 - Coor signed an agreement to acquire assets in the Veolia Technical Management business sector, which is part of Veolia Sverige AB, divesting its businesses in Sweden and Norway. The acquisition expands Coor's technical property servicing and maintenance capabilities.

Recent Developments

  • Feb 2022 - Coor announced the acquisition of R & K Service AS, a Norwegian cleaning and restaurant services firm. The acquisition expands Coor's cleaning and restaurant service offerings and its geographic reach in the Norway region.
  • May 2021 - Orn Software has agreed to acquire Landax, a Norwegian Quality Management Software-as-a-Service (SaaS) company, gaining a solid portfolio of new customers in both new and established industries. Orn Software is the country's leading software firm, providing solutions for asset operations and maintenance in various industries, including real estate, manufacturing, and aquaculture.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions and Market Definition

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Introduction to Market Driver

    3. 4.3 Market Drivers

      1. 4.3.1 Tech innovations in Facilities Management is Expected to Witness Significant Growth

      2. 4.3.2 Renewed Emphasis on Workplace Optimization and Productivity

    4. 4.4 Market Challenges

      1. 4.4.1 Diminishing Profit Margins and Ongoing Changes in Macro-environment

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Facility Management

      1. 5.1.1 In-house Facility Management

      2. 5.1.2 Outsourced Facility Management

        1. 5.1.2.1 Single FM

        2. 5.1.2.2 Bundled FM

        3. 5.1.2.3 Integrated FM

    2. 5.2 By Offering Type

      1. 5.2.1 Hard FM

      2. 5.2.2 Soft FM

    3. 5.3 By End-User

      1. 5.3.1 Commercial

      2. 5.3.2 Institutional

      3. 5.3.3 Public/Infrastructure

      4. 5.3.4 Industrial

      5. 5.3.5 Other End-Users

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Company Profiles

      1. 6.1.1 ISS Facility Services

      2. 6.1.2 Kurita Water Industries Ltd.

      3. 6.1.3 Coor Service Management

      4. 6.1.4 Presis Vegdrift AS

      5. 6.1.5 Toma Facility Services AS

      6. 6.1.6 Sodexo

      7. 6.1.7 Maersk

      8. 6.1.8 Polygon AS

  7. 7. INVESTMENT ANALYSIS

  8. 8. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Subject to Availability

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Frequently Asked Questions

The Norway Facility Management Market market is studied from 2020 - 2027.

The Norway Facility Management Market is growing at a CAGR of 2.5% over the next 5 years.

ISS Facility Services, Coor Service Management, Presis Vegdrift AS, Toma Facility Services AS, Sodexo are the major companies operating in Norway Facility Management Market.

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