Market Research Future (MRFR) has published a cooked
research report on the “Industrial maintenance services market” that contains
information from 2023 to 2032. The Industrial maintenance services market is
estimated to register a CAGR of 5.90% during the forecast period of 2023 to 2032
and projected to grow at USD 81.2 billion by 2032.
MRFR
recognizes the following companies as the key players in the Market- Siemens
AG, Total Resource Management, NAES Corporation, Marshall Industrial
Technologies, Baker Hughes Company, Kirti Telnet Pvt. Ltd., Caverion
Corporation, Lee Industrial Contracting, Petrofac Limited, Bell and Howell LLC,
Advanced Technology Services, Inc., SGK India Engineering Pvt. Ltd., Global
Offshore Engineering, Valmet Ltd.
Industrial Maintenance Services Market Overview
A compound
annual growth rate (CAGR) of 5.90% suggests a moderate yet consistent expansion
in the market and projected to grow from USD 51.3 Billion in 2023 to USD 81.2
Billion by 2032.
The industrial
maintenance services market refers to the industry that
provides a wide range of services aimed at ensuring the proper functioning,
reliability, and efficiency of industrial equipment, machinery, and facilities.
These services encompass various activities, such as routine inspections,
repairs, equipment upgrades, preventive maintenance, and asset management. The
goal of industrial maintenance services is to minimize downtime, extend the
lifespan of equipment, and optimize overall operational performance for
industrial and manufacturing facilities.
Industrial maintenance services cater to a variety of
sectors, including manufacturing, oil and gas, energy production, chemicals,
automotive, food and beverage, pharmaceuticals, and more. The industrial
maintenance services market continues to evolve due to factors such as
increased.
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Industrial Maintenance Services Market Segmentation
Industrial maintenance services Service Outlook
· Repair
· Inspection
· Maintenance
Industrial maintenance services Location Outlook
· On Shore
· Off Shore
Industrial maintenance services End-User Industry Outlook
· Oil and Gas
· Manufacturing
· Power Generation
· Others
Industrial maintenance services Regional Outlook
· North America
· Europe
· Asia-Pacific
· Rest of the World
Market Drivers
Technological Advancements:
The industrial maintenance services market has been
influenced by technological advancements such as predictive analytics, the
Internet of Things (IoT), and sensors that enable real-time monitoring of
equipment health and performance.
Outsourcing and Partnerships:
Many companies choose to outsource their maintenance
needs to specialized service providers, allowing them to focus on core
operations. Maintenance service providers often offer expertise, manpower, and
tools to manage maintenance tasks efficiently.
Key Players
Key Companies in the Industrial maintenance services
market include
· Siemens AG
· Total Resource Management
· NAES Corporation
· Marshall Industrial Technologies
· Baker Hughes Company
· Kirti Telnet Pvt. Ltd.
· Caverion Corporation
· Lee Industrial Contracting
· Petrofac Limited
· Bell and Howell LLC
· Advanced Technology Services, Inc.
· SGK India Engineering Pvt. Ltd.
· Global Offshore Engineering
· Valmet Ltd.
· Bilfinger (Bilfinger Industrial Services Polska Sp. z
o.o.)
· MEIDENSHA CORPORATION
· Global Electronic Services, Inc.
Regional analysis of industrial maintenance services
The study offers market insights across different
regions, including North America, Europe, Asia-Pacific, and the Rest of the
World. Notably, the North America Industrial Maintenance Services Market
emerged as the leader in 2022, commanding a significant share of 45.80%. This
dominance can be attributed to the robust manufacturing sector in North
America, encompassing key industries such as automotive, aerospace,
electronics, and more. Given the competitiveness of these sectors,
manufacturers prioritize efficient machinery and processes. Industrial
maintenance services play a pivotal role in minimizing downtime, enhancing
productivity, and ensuring high-quality production.
Within North America, the U.S. Industrial maintenance
services market secured the largest market share, underscoring its prominence
in the region. Additionally, the Canadian Industrial maintenance services
market demonstrated exceptional growth, emerging as the fastest-growing market
in North America.
The market report delves into detailed analyses of major
countries, including the United States, Canada, Germany, France, the United
Kingdom, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
This comprehensive approach provides a nuanced understanding of the varied
dynamics influencing the industrial maintenance services sector across these
key nations.
Industrial maintenance services Industry Developments
August 2023: Siemens AG - SIRIUS 3UG5 Line Monitoring
Relays
Siemens AG launched the SIRIUS 3UG5 line monitoring
relays. Line monitoring relays are devices used to monitor and protect
electrical systems by detecting abnormal conditions such as overloads,
underloads, phase sequence errors, and voltage imbalances. The introduction of
these relays indicates Siemens' commitment to providing advanced solutions for
monitoring and safeguarding industrial systems, contributing to improved
operational reliability and efficiency.
June 2023: Caverion Corporation - Acquisition of CRC
Clean Room Control
Caverion Corporation acquired CRC Clean Room Control, a
company likely specializing in providing solutions and services related to
cleanroom environments. Cleanrooms are critical in industries such as
pharmaceuticals, electronics, and healthcare, where maintaining specific
environmental conditions is essential. This acquisition reflects Caverion's
expansion strategy and its aim to offer comprehensive solutions for maintaining
controlled environments within industrial facilities.
July 2023: Petrofac Limited - Facilities Management
Contract for CNR International (CNRI)
Petrofac Limited secured a facilities management contract
from CNR International (CNRI) for the Espoir Ivoirien Floating Production
Storage and Offloading (FPSO) vessel offshore the Ivory Coast, West Africa.
This contract underscores the significance of facilities management in the oil
and gas sector, particularly for offshore installations. Facilities management
involves a range of services, including maintenance, repairs, and operational
support, all aimed at ensuring the effective and safe operation of industrial
assets.
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