Press release
Comprehensive Maintenance Services Market Forecast 2025-2034: Growth Trends and Strategic Shifts
Maintenance Services
Maintenance Services Market Size Valuation Forecast: What Will the Market Be Worth by 2025?
In recent times, the market size for maintenance services has seen a fast-paced growth. It's projected to expand from $73.78 billion in 2024 to $81.86 billion in 2025, indicating a compound annual growth rate (CAGR) of 11.0%. This growth during the historic period is due to factors like real estate and property development, industrial and manufacturing facilities expansion, infrastructure development, strict government regulations, and the implementation of preventative maintenance practices.
Maintenance Services Market Size Forecast: What's the Projected Valuation by 2029?
The market size of maintenance services is predicted to swiftly expand in the coming years, potentially reaching $122.09 billion in 2029 with a 10.5% compound annual growth rate (CAGR). This imminent growth in the projected period is due to a myriad of factors such as amplified concentration on sustainability, technological fusion in maintenance, deteriorating infrastructure, substantial urbanization globally, and the externalizing of maintenance operations. Key trends anticipated during this period encompass the deployment of the Internet of Things (IoT), adherence to regulatory patterns, personalized maintenance contracts, emphasis on reliability-centered maintenance (RCM), and the incorporation of energy management services.
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What Are the Drivers Transforming the Maintenance Services Market?
The surge in the need for renewable energy is set to stimulate the expansion of the maintenance services sector. Renewable energy sources, known for being inexhaustible and offering a continuous flow of clean energy, require specialized maintenance and repair services. These services cater to diverse renewable energy providers, including those harnessing hydroelectric, wind, and solar power. For example, the International Energy Agency (IEA), an autonomous intergovernmental organization based in France, stated in January 2023 that the generation of power from solar photovoltaic systems hit an all-time high of 270 TWh in 2022, showing an increase of 26% from 2021. Despite being the third largest renewable electricity technology, solar PV contributes 4.5% to the world's total electricity, after wind and hydropower. As such, the escalating demand for renewable energy is fueling the growth of the maintenance services industry.
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What Long-Term Trends Will Define the Future of the Maintenance Services Market?
The primary trend gaining traction in the maintenance services market is the growth of technological innovations. Leading businesses in this market are creating cutting-edge technologies to bolster their market standing. A perfect example is MAG Lifestyle Development, a property developer rooted in UAE, which unveiled MAG FM, a tool for tracking home maintenance, in May 2022. This unique home maintenance tracking app offers residents a smart technology platform that enables online payments for the services received in their homes. Additionally, it grants customers access to a myriad of home maintenance packages available. The tool has been crafted with the goal of supplying online services to residents of MAG-5.
Which Segments in the Maintenance Services Market Offer the Most Profit Potential?
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
Subsegments:
1) By Inspection: Routine Inspections, Condition Monitoring, Compliance Inspections
2) By Maintenance: Preventive Maintenance, Predictive Maintenance, Corrective Maintenance
3) By Repair: On-Site Repairs, Off-Site Repairs, Emergency Repairs
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Which Firms Dominate the Maintenance Services Market by Market Share and Revenue in 2025?
Major companies operating in the maintenance services market include 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, 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
Which Regions Offer the Highest Growth Potential in the Maintenance Services Market?
Asia-Pacific was the largest region in the maintenance services market in 2024. The regions covered in the maintenance services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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