Market Size of Albania Facility Management Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 2.06 % |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Albania Facility Management Market Analysis
The Albania Facility Management Market is expected to register a CAGR of 2.06% from 2022 to 2027. Albania is supposed to be one of the major outsourced markets for facility management services in maturity and sophistication.
- Digitalization nowadays has become the key to the growth of the FM industry. Since the development of CAFM systems, building automation in the 1990s, the advent of Building Information Modelling in the early 2000s, and the PropTech wave during the 2010s, the automation, and digitalization, of FM processes have progressed steadily. However, these technological advances have had only a moderate impact on how core FM services are delivered. The main job profiles in the FM industry have remained surprisingly stable.
- PropTech initiatives have been driven by many start-ups financed by venture capital from institutional, corporate, and private sources. This leads to a much more comprehensive range of ideas and improvements developed to market maturity. The chance that several disruptive ideas will break through is higher than ever.
- There has been increasing awareness within the property and facility management industry of the effectiveness of building management which is directly determined by how the building is operated and managed. The industry also realizes the importance of accreditations and certifications to take a snapshot of the technologies, infrastructure, and systems.
- The uncertainty over land rights remains a crucial obstacle to the country's economic and social development, severely impacting the overall FM industry business in the region. On top of these limiting factors, the ongoing Ukraine war will further disrupt the supply chain and undermine investors' confidence in the regional market.
- The outbreak of COVID-19 has had a severe impact on facilities management firms. The restrictions on the movement of people resulted in a decline in project work and a decreased level of activity across many customer sites. Significant players in the market, such as CBRE Group, Diversey, and others, were adversely affected due to the pandemic lockdown.
Albania Facility Management Industry Segmentation
The Albania Facility Management Market is segmented by Type of Facility Management, By Offering, and End-user. 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.
| By Facility Management Type | |||||
| In-House Facility Management | |||||
|
| By Offerings | |
| Hard FM | |
| Soft FM |
| By End-User | |
| Commercial | |
| Institutional | |
| Public/Infrastructure | |
| Industrial | |
| Others |
Albania Facility Management Market Size Summary
The Albania Facility Management Market is poised for growth, driven by increasing digitalization and technological advancements such as CAFM systems and Building Information Modelling. Despite these innovations, the core services in the FM industry have remained stable, with PropTech initiatives gaining traction through venture capital-backed start-ups. The market is characterized by low transparency, but regulatory efforts to enhance globalization are encouraging strategic partnerships and bundled service offerings. The Albanian government's outward-oriented policies and focus on economic integration with the European Union are attracting foreign investments, further bolstering the FM sector. However, challenges such as land rights uncertainty and geopolitical tensions, like the ongoing Ukraine war, pose risks to market stability.
The FM market in Albania is consolidated with various firms, including major players like CBRE Group and Diversey, engaging in strategic partnerships and expansions to navigate market slowdowns. The sector's growth is supported by increased consumer confidence, demand for exports, and fiscal stimulus, alongside significant investments in construction and infrastructure projects. The banking sector's support for real estate through loans and favorable interest rates is pivotal, as it drives demand for FM services to manage ongoing and completed projects. The market's expansion is further evidenced by international companies like Royal York Property Management establishing a presence in Albania, aiming to enhance property management and investment services.
Albania Facility Management Market Size - Table of Contents
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1. MARKET INSIGHTS
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1.1 Market Overview
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1.2 Industry Attractiveness - Porters Five Forces Analysis
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1.2.1 Threat of New Entrants
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1.2.2 Bargaining Power of Buyers/Consumers
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1.2.3 Bargaining Power of Suppliers
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1.2.4 Threat of Substitute Products
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1.2.5 Intensity of Competitive Rivalry
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1.3 Assessment of Impact of COVID-19 on the Market
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2. MARKET SEGMENTATION
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2.1 By Facility Management Type
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2.1.1 In-House Facility Management
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2.1.2 Outsourced Facility Management
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2.1.2.1 Single FM
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2.1.2.2 Bundled FM
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2.1.2.3 Integrated FM
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2.2 By Offerings
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2.2.1 Hard FM
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2.2.2 Soft FM
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2.3 By End-User
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2.3.1 Commercial
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2.3.2 Institutional
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2.3.3 Public/Infrastructure
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2.3.4 Industrial
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2.3.5 Others
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Albania Facility Management Market Size FAQs
What is the current Albania Facility Management Market size?
The Albania Facility Management Market is projected to register a CAGR of 2.06% during the forecast period (2024-2029)
Who are the key players in Albania Facility Management Market?
CBRE Inc., Globe William International, Armonia, Mott Mcdonald and Diversey Holdings Ltd are the major companies operating in the Albania Facility Management Market.
