Market Trends of Argentina Facility Management Industry
This section covers the major market trends shaping the Argentina Facility Management Market according to our research experts:
Growth of Manufacturing Industry
- According to World Bank, Argentina's economic activity has recovered faster than expected, with an increase of 10.3% of GDP in 2021, after a fall of 9.9% in 2020 in the context of the crisis unleashed by COVID-19. At the end of 2021, the economy was 5% above its pre-pandemic level of activity.
- The recovery in the economy is mainly attributed to the growth of manufacturing activity post-pandemic in the country as it is a leading food producer with large-scale agricultural and livestock industries. In addition, industries such as textiles, beverages, paper, and chemicals are contributing more to the growth of the manufacturing sector of the country.
- Multinational organizations are expanding their operations in the country to increase the manufacturing of their products and cater to the demand. For instance, in October 2020, PUMA Argentina announced the incorporation of two new production lines at its factory in La Rioja with an investment of USD 240 million pesos.
- The growth of manufacturing operations and expansion by key industry players in the country are expected to bolster the demand for hard and soft facility management services in the country.
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Growing concern of Energy Efficiency and Management
- The Covid-19 pandemic has put focus on increased pollution by day-to-day activities and the consumption of energy that created the use of energy management systems and solutions and increased efficiency by business organizations.
- Hence, for the management of energy, businesses are opting for smart buildings and related solutions such as the use of smart sensors to switch on lighting, heating, and other climate control systems by installing energy management systems to track energy usage in real-time and identify opportunities to reduce consumptions and related cost to gain efficiency in their operations. Thus, the demand for facility management services related to energy management is gaining momentum in the country.
