Industrial Services Market worth $76.70 billion by 2030, growing at a CAGR of 7.27% - Exclusive Report by 360iResearch

December 05, 2023 08:48 PM AEDT | By EIN Presswire
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The Global Industrial Services Market to grow from USD 43.71 billion in 2022 to USD 76.70 billion by 2030, at a CAGR of 7.27%.

PUNE, MAHARASHTRA, INDIA, December 5, 2023 /EINPresswire.com/ -- The "Industrial Services Market by Type (Engineering & Consulting, Installation & Commissioning, Operational Improvement & Maintenance), Application (Distributed Control System, Human Machine Interface, Industrial 3D Printing), End-User - Global Forecast 2023-2030" report has been added to 360iResearch.com's offering.

The Global Industrial Services Market to grow from USD 43.71 billion in 2022 to USD 76.70 billion by 2030, at a CAGR of 7.27%.

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Industrial services encompass a broad range of activities designed to support the various processes and operations of manufacturing and production facilities. These services can include maintenance, repair, overhaul (MRO), installation and commissioning of machinery, equipment calibration, consulting, and project management, among other professional and technical services. Industrial services are pivotal across various sectors, including manufacturing, oil and gas, power generation, aerospace, automotive, and chemicals. Advancements in technology, particularly in the areas of automation and industrial Internet of Things (IIoT), are significantly driving market expansion. Additionally, a growing focus on sustainable processes, regulatory compliances, and the need for operational excellence are pushing industries to adopt specialized services. The trend towards outsourcing services to specialized providers who can deliver higher efficiency, cost reduction, and improved performance also facilitates market growth. However, the need for continuous skills development to keep pace with rapidly advancing technologies impedes market development. Recent trends point towards opportunities in predictive maintenance services driven by AI and machine learning, which can forecast equipment failures before they occur. Also, the integration of big data analytics in industrial services for data-driven decision-making presents significant growth potential.

End-User: Need for industrial services for attaining the design, assembly, and quality assurance of vehicles
Industrial services within the automotive sector focus on enhancing production efficiency, quality control, and supply chain management. End-use services include automation and robotics services, maintenance and repair, process engineering, environmental services for waste management, and logistics services. In the chemical sector, industrial services are employed for process optimization, chemical handling and storage, safety and compliance, waste management, and plant maintenance. The food and refreshments industry utilizes industrial services to ensure food safety, maintain quality standards, and increase operational efficiency. Services such as refrigeration, sanitation, pest control, and production line optimization are integral for the processing, packaging, and distribution of food products. These services support compliance with health regulations and contribute to extending the shelf life of perishable goods. Industrial services in the IT and telecom sectors are aimed at supporting the infrastructure that enables data processing, communication networks, and service delivery. End-use services include data center maintenance, network setup and management, cybersecurity, hardware repair, and technical support. These services ensure the continuous and secure operation of IT and telecom systems. For metals and mining, industrial services play a critical role in machinery maintenance, mine design, excavation support, and mineral processing. Services also include environmental management, tailing disposal solutions, and occupational health and safety management to minimize the ecological footprint and ensure a safe working environment. The oil and gas industry relies heavily on industrial services for exploration, drilling, production, and pipeline transportation. Services include seismic surveying, drilling support, asset integrity management, and decommissioning. In the pharmaceutical sector, industrial services support the end-to-end process from drug discovery to distribution. Services include cleanroom maintenance, regulatory compliance consulting, quality control testing, and process scaling for mass production. The transportation sector benefits from a range of industrial services, including fleet management, infrastructure development, logistic solutions, and vehicle maintenance and repair. Such services are essential for the smooth operation of transportation systems, enhancing cargo and passenger safety, and improving the energy efficiency and environmental performance of transportation modes.

Application: Adoption of industrial services for industrial robotics to ensure precision of robotic operations and extend robot lifespan
Industrial services for distributed control systems are crucial because DCSs play a fundamental role in managing and regulating complex processes across various industries. Industrial services for human-machine interfaces are essential to ensure these systems are user-friendly, accurate, and reliable. Services include HMI programming, design customization, updates to improve usability, and repairs to reduce the potential for human error and enhance overall system safety and productivity. For Industrial 3D Printing, industrial services are needed to maximize the technology's potential and to keep equipment operating at peak performance. Industrial PCs are robust computing systems designed for the demanding conditions of the manufacturing floor. Services for Industrial PCs incorporate technical support, repairs, hardware upgrades, software configuration, and cybersecurity measures. These services ensure that the PCs deliver their intended performance, withstand harsh environments, maintain data integrity, and support the continuity of industrial operations. Industrial Robotics requires a range of services to maintain the functionality and efficiency of robotic systems. These include installation, programming, routine maintenance, repair services, and upgrades, as well as training support for operators. Programmable logic controllers (PLCs) are widely used to automate industrial processes. Industrial services for PLCs, including programming, configuration, troubleshooting, and maintenance, provide the necessary support to maintain operational accuracy, minimize downtime, and adapt to new or changing production requirements. Services for manufacturing execution systems are integral to ensure that the MES operates at its full potential to enhance production efficiency. MES services help in software implementation, system integration, performance optimization, and compliance with industrial standards. Industrial Services for motors & drives encompass a variety of activities such as installation, commissioning, maintenance, and repair to ensure the smooth operation of these components, which are often critical to the manufacturing process. Industrial services for safety systems are necessary for ensuring that all equipment and processes operate within safe parameters, comply with regulations, and protect employees and assets. Industrial services for SCADA systems play a pivotal role in optimizing control and data acquisition processes. These services range from system design and installation to configuration, maintenance, and upgrades.

Type: Provision of different engineering & consulting services to offer comprehensive solutions tailored to unique industry requirements
Engineering and consulting services in the industrial sector encompass a range of activities that support the planning, design, and management of various industrial projects. These services often involve feasibility studies, project management, engineering design, and technical consulting to help businesses optimize their processes, reduce costs, and comply with regulations. Installation and commissioning services are critical in setting up new industrial equipment and systems. These services include the placement, assembly, and setup of machinery and infrastructure, followed by testing and adjustments to ensure everything operates as intended. Proper commissioning is vital as it impacts the future performance and reliability of the equipment. Professionals involved in these services are skilled technicians and engineers who understand the complexities of industrial machinery and ensure that all components are installed correctly and safely, adhering to industry standards and best practices. Operational improvement and maintenance services are focused on enhancing the efficiency and longevity of industrial operations. This encompasses a broad array of services, including routine maintenance, predictive and preventative maintenance strategies, system upgrades, and process optimizations. Maintenance services are essential for minimizing downtime, ensuring safety, and maximizing the lifespan of equipment. Operational improvement involves analyzing current operations, identifying areas for enhancement, and implementing changes to boost productivity, quality, and profitability. These services are delivered by professionals with deep expertise in industry-specific technologies and practices.

Regional Insights:
The demand for industrial services in the Americas can be characterized by strong technological adoption and a focus on sustainable solutions. Companies in this region have access to a mature industrial base, especially in North America, which has been fostering investments in smart and automated services. With the United States and Canada being at the forefront of industrial innovation, businesses here tend to allocate significant resources towards research and development, which fuels the demand for high-end industrial services. The Asia-Pacific region is a burgeoning market for industrial services, driven by rapid industrialization and urbanization, particularly in emerging economies such as China and India. There is a significant demand for outsourcing operations and maintenance services as companies in this region seek to cut costs and improve efficiency. Additionally, the region is witnessing a growing interest in environmental, sustainability, and governance (ESG) practices, which is influencing the scope of industrial services. The EMEA region presents a diverse landscape, with Europe leading in terms of maturity of industrial services, the Middle East showing rapid modernization, and Africa being a market with potent growth potential. Europe is focused on innovation and sophisticated engineering services, while the Middle East invests heavily in energy and petrochemical sectors, necessitating specialized services. Africa’s growth is spurred by the expansion of local industries and the entry of global players requiring a variety of industrial services.

FPNV Positioning Matrix:

The FPNV Positioning Matrix is essential for assessing the Industrial Services Market. It provides a comprehensive evaluation of vendors by examining key metrics within Business Strategy and Product Satisfaction, allowing users to make informed decisions based on their specific needs. This advanced analysis then organizes these vendors into four distinct quadrants, which represent varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital(V).

Market Share Analysis:

The Market Share Analysis offers an insightful look at the current state of vendors in the Industrial Services Market. By comparing vendor contributions to overall revenue, customer base, and other key metrics, we can give companies a greater understanding of their performance and what they are up against when competing for market share. The analysis also sheds light on just how competitive any given sector is about accumulation, fragmentation dominance, and amalgamation traits over the base year period studied.

Key Company Profiles:

The report delves into recent significant developments in the Industrial Services Market, highlighting leading vendors and their innovative profiles. These include Aaxis Nano Technologies Pvt. Ltd., ABB Ltd., Altrad Group, ATS Automation Tooling Systems Inc., Clean Harbors, Inc., Cynoteck Technology Solutions Pvt. Ltd., Dynamysk Automation Ltd., Emerson Electric Co., General Electric Company, Global Industrial Services, Honeywell International Inc., Horváth AG, HPC Industrial, INTECH Process Automation Inc., International Ceramic Construction, LLC, KMG International N.V., LCM Environmental, Leadec Holding BV & Co. KG, Metso Corporation, Mitsubishi Electric Corporation, Rockwell Automation Inc., Schneider Electric SE, SGK India Industrial Services (P) Ltd., SGS Industrial Services GmbH, Siemens AG, SKF Group, Solid Industrial Services, Spencer Stuart, The Industrial Service Group, Wunderlich-Malec Engineering, Inc., and Yokogawa Electric Corporation.

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Market Segmentation & Coverage:

This research report categorizes the Industrial Services Market in order to forecast the revenues and analyze trends in each of following sub-markets:

Based on Type, market is studied across Engineering & Consulting, Installation & Commissioning, and Operational Improvement & Maintenance. The Engineering & Consulting is projected to witness significant market share during forecast period.

Based on Application, market is studied across Distributed Control System, Human Machine Interface, Industrial 3D Printing, Industrial PC, Industrial Robotics, Manufacturing Execution System, Motors & Drives, Programmable Logic Controller, Safety Systems, and Supervisory Control & Data Acquisition. The Human Machine Interface is projected to witness significant market share during forecast period.

Based on End-User, market is studied across Automotive, Chemicals, Food & Refreshments, IT & Telecom, Metals & Mining, Oil & Gas, Pharmaceuticals, and Transportation. The Transportation is projected to witness significant market share during forecast period.

Based on Region, market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across California, Florida, Illinois, New York, Ohio, Pennsylvania, and Texas. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. The Europe, Middle East & Africa is further studied across Denmark, Egypt, Finland, France, Germany, Israel, Italy, Netherlands, Nigeria, Norway, Poland, Qatar, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, and United Kingdom. The Americas commanded largest market share of 41.42% in 2022, followed by Europe, Middle East & Africa.

Key Topics Covered:

1. Preface
2. Research Methodology
3. Executive Summary
4. Market Overview
5. Market Insights
6. Industrial Services Market, by Type
7. Industrial Services Market, by Application
8. Industrial Services Market, by End-User
9. Americas Industrial Services Market
10. Asia-Pacific Industrial Services Market
11. Europe, Middle East & Africa Industrial Services Market
12. Competitive Landscape
13. Competitive Portfolio
14. Appendix

The report provides insights on the following pointers:
1. Market Penetration: Provides comprehensive information on the market offered by the key players
2. Market Development: Provides in-depth information about lucrative emerging markets and analyzes penetration across mature segments of the markets
3. Market Diversification: Provides detailed information about new product launches, untapped geographies, recent developments, and investments
4. Competitive Assessment & Intelligence: Provides an exhaustive assessment of market shares, strategies, products, certification, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players
5. Product Development & Innovation: Provides intelligent insights on future technologies, R&D activities, and breakthrough product developments

The report answers questions such as:
1. What is the market size and forecast of the Industrial Services Market?
2. Which are the products/segments/applications/areas to invest in over the forecast period in the Industrial Services Market?
3. What is the competitive strategic window for opportunities in the Industrial Services Market?
4. What are the technology trends and regulatory frameworks in the Industrial Services Market?
5. What is the market share of the leading vendors in the Industrial Services Market?
6. What modes and strategic moves are considered suitable for entering the Industrial Services Market?

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Mr. Ketan Rohom
360iResearch
+1 530-264-8485
[email protected]


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