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Maintenance Services Market Analysis 2024 -2033: Forecasted Market Size, Top Segments, And Largest Region | Fugro NV, TechnipFMC plc, Petrofac Ltd., Baker Hughes Company, James Fisher and Sons plc, Bluestream Offshore BV
Maintenance Services Market Characteristics
The Business Research Company offers in-depth market insights through Maintenance Services Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The maintenance services market size has grown rapidly in recent years. It will grow from $71.87 billion in 2023 to $80.06 billion in 2024 at a compound annual growth rate (CAGR) of 11.4%. The growth in the historic period can be attributed to real estate and property development, industrial and manufacturing facilities, infrastructure development, government regulations, preventive maintenance practices..
The maintenance services market size is expected to see rapid growth in the next few years. It will grow to $122.32 billion in 2028 at a compound annual growth rate (CAGR) of 11.2%. The growth in the forecast period can be attributed to increased focus on sustainability, technology integration in maintenance, aging infrastructure, global urbanization trends, outsourcing of maintenance functions.. Major trends in the forecast period include incorporation of internet of things (iot), compliance with regulatory standards, customized maintenance contracts, focus on reliability-centered maintenance (rcm), implementation of energy management services..
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Market Segmentation:
The maintenance services market covered in this report is segmented -
1) By Service Type: Inspection, Maintenance, Repair
2) By Type: Offshore Support Vessels, AUVs Or ROVs, Others
3) By Location: Offshore, Onshore
4) By Application: Oil And Gas, Renewable, Marine, Power Generation, Infrastructures, Manufacturing, Others
Major Driver - Elevated Demand For Renewable Energy Fuels Growth In The Maintenance Services Market
Increasing demand for renewable energy is expected to boost the growth of the maintenance services market. Renewable energy sources are a source of energy that is never exhausted and can provide a steady flow of clean energy. Maintenance and repair services meet the unique requirements of renewable energy suppliers, including those that use hydroelectricity, wind power, and solar power. For instance, in December 2021, according to a report published by the International Energy Agency, a France-based intergovernmental organization, nearly 95% of the anticipated growth in global power capacity until 2026 is projected to be driven by renewables, with solar photovoltaic (PV) contributing more than half of this expansion. The increase in renewable capacity during the 2021-2026 period is forecasted to be 50% greater than the growth observed from 2015 to 2020. Therefore, the rising demand for renewable energy is driving the growth of the maintenance services market.
Competitive Landscape:
Major companies operating in the maintenance services market report are Fugro NV, TechnipFMC plc, Petrofac Ltd., Baker Hughes Company, James Fisher and Sons plc, Bluestream Offshore BV, SeaTec UK Ltd., Royal Boskalis Westminster NV, Schlumberger Limited (SLB), Aker Solutions ASA, Oceaneering International Inc., Starke Marine Sdn Bhd, Sinovoltaics Group Limited, Sapura Energy Berhad, FLIR Systems Inc., MISTRAS Group Inc., CBRE Group Inc., Jones Lang LaSalle Incorporated, ISS A/S, ENGIE Services Inc., Cushman & Wakefield plc, Aramark Facility Services LLC, Compass Group plc, Sodexo Group, Mitie Group plc, Johnson Controls International plc, FacilitySource, G4S plc, ABM Industries Incorporated, Worley Limited, Wood plc .
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Top Trend - Technological Advancements Fuel Maintenance Services Market
Technological advancements have emerged as the key trend gaining popularity in the maintenance services market. Major companies operating in the maintenance services market are developing innovative technologies to strengthen their position in the market. In May 2022, MAG Lifestyle Development, a UAE-based property developer, launched MAG FM a home maintenance tracking app. The unique features of the home maintenance tracking app involve a smart technology platform for the residents that allows the residents to pay online for the services rendered in their homes and provides customers with a wide range of home maintenance packages available. The home maintenance tracking app is designed for providing online services to MAG-5 residents.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Maintenance Services Market Characteristics
3. Maintenance Services Market Trends And Strategies
4. Maintenance Services Market - Macro Economic Scenario
5. Maintenance Services Market Size And Growth
…..
27. Maintenance Services Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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