Press release
Industrial Maintenance Services Market Research, 2033
Industrial Maintenance Services Market Research,
As per the report, the industrial maintenance services market size has grown strongly in recent years. It will grow from $51.43 billion in 2023 to $54.98 billion in 2024 at a compound annual growth rate (CAGR) of 6.9%. The industrial maintenance services market size is expected to see strong growth in the next few years. It will grow to $71.75 billion in 2028 at a compound annual growth rate (CAGR) of 6.9%.
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Increasing Aerospace Sector Fuels Industrial Maintenance Services Market Growth
The increasing aerospace sector is expected to propel the industrial maintenance services market. The aerospace industry includes companies that provide modifications or conversions, repairs, part replacements, and complete overhauls and rebuilds of commercial aircraft. The types of aircraft manufactured by companies in this industry include gliders, helicopters, drones, ultra-light aircraft, passenger aircraft, and private jets. The maintenance support offered by aerospace sector companies is the main target of corporate, commercial, and military aircraft. For instance, in 2021, according to the Aerospace Industries Association (AIA), a US-based trade organization for businesses, the military, and civil manufacturers, the industry paid out $224 billion in compensation or 1.8% of total U.S. labor income and A&D workforce was increased by 6000 employees, a 0.3% increase from 2020. Therefore, the increasing aerospace sector is driving the growth of the industrial maintenance services market.
Product Innovation Driving Industrial Maintenance Services Market
Product innovation is a key trend in the industrial maintenance services market. Major companies operating in the industrial maintenance services market are focused on developing innovative solutions to strengthen their position in the market. For instance, in May 2022, Valmet, a Finland-based company that develops and provides technologies, automation systems, and services to the pulp, paper, and energy industries, introduced the Valmet Mobile Maintenance (VMM) program to streamline processes in mill maintenance operations and make maintenance data accessible at any time. VMM is an iOS and Android-compatible mobile application. The program is made to make the work of production and maintenance operators more efficient. They can save time and increase productivity by generating defect notifications and checking work orders while they are in progress.
The industrial maintenance services market covered in this report is segmented -
1) By Service: Repair, Inspection, Maintenance
2) By Location: On Shore, Off Shore
3) By End-User: Oil And Gas, Industry, Power Generation, Other End-User
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Major companies operating in the industrial maintenance services market report are Siemens AG, Honeywell International Inc., Mitsubishi Heavy Industries Ltd., Asea Brown Boveri Ltd., Johnson Controls International plc, Baker Hughes Company, Emerson Electric Co., Parker-Hannifin Corporation, Atlas Copco AB, SKF Group, Rockwell Automation Inc., TechnipFMC plc, Wärtsilä Corporation, Metso Outotec, Voith Group, Royal Boskalis Westminster N.V., Yokogawa Electric Corporation, Sulzer AG, Konecranes Plc, Flowserve Corporation, Petrofac Limited, Fugro N.V., Oceaneering International Inc., Sapura Energy Berhad, James Fisher and Sons plc, STRATEC SE, Advanced Technology Services Inc., Bluestream Offshore B.V., Doosan Heavy Industries & Construction Co. Ltd., Aker Solutions ASA, Gardner Denver Holdings Inc., National Oilwell Varco Inc., Ingersoll Rand Inc.
Contents of the report:
1. Executive Summary
2. Industrial Maintenance Services Market Report Structure
3. Industrial Maintenance Services Market Trends And Strategies
4. Industrial Maintenance Services Market - Macro Economic Scenario
5. Industrial Maintenance Services Market Size And Growth
…..
27. Industrial 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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