Global Industrial Services Market, By Type (Engineering and Consulting, Installation and Commissioning, Operational Improvement and Maintenance), Application (Distributed Control System, Programmable Logic Controller, Supervisory Control and Data Acquisition, Electric Motors and Drives, Valves and Actuators, Human Machine Interface, Manufacturing Execution System, Safety Systems, Industrial PC, Industrial 3D Printing, Industrial Robotics), End User (Oil and Gas, Healthcare and Pharmaceuticals Chemicals, Automotive, Water and Wastewater, Chemicals, Food and Beverages, Energy and Power, Semiconductor and Electronics, Paper and Pulp, Metals and Mining, Aerospace, Others) - Industry Trends and Forecast to 2029
Market Analysis and Size
Industrial services are being considered as the significant help portfolio that assistance arrangement suppliers are seeking. These services are widely being utilized for item improvements, administration agreements, and incorporate extensions, among others.
Global Industrial Services Market was valued at USD 35.48 billion in 2021 and is expected to reach USD 54.86 billion by 2029, registering a CAGR of 5.60% during the forecast period of 2022-2029. Manufacturing Execution System account for the largest application segment in the respective market owing to the high use to maintain the updated data pertaining to the product life cycle. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.
Industrial Services are the type of services provided by the companies for the industries as needed. This contains engineering and consulting services, installation and commissioning and the operational improvement and maintenance. These types of services are traded among organizations for further facilitation of final goods or services.
Report Scope and Market Segmentation
2022 to 2029
2020 (Customizable to 2014- 2019)
Revenue in USD Billion, Volumes in Units, Pricing in USD
Type (Engineering and Consulting, Installation and Commissioning, Operational Improvement and Maintenance), Application (Distributed Control System, Programmable Logic Controller, Supervisory Control and Data Acquisition, Electric Motors and Drives, Valves and Actuators, Human Machine Interface, Manufacturing Execution System, Safety Systems, Industrial PC, Industrial 3D Printing, Industrial Robotics), End User (Oil and Gas, Healthcare and Pharmaceuticals Chemicals, Automotive, Water and Wastewater, Chemicals, Food and Beverages, Energy and Power, Semiconductor and Electronics, Paper and Pulp, Metals and Mining, Aerospace, Others)
U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA).
Market Players Covered
General Electric (US), Siemens (Germany), Metso Corporation (Finland), John Wood Group PLC (UK), Honeywell International Inc (US), ABB (Sweden), Emerson Electric Co. (US), Rockwell Automation, Inc. (US), SAMSON AG (Germany), Schneider Electric (France), ATS Automation Tooling Systems Inc. (Canada), SKF (Sweden), Dynamysk Automation Ltd. (Canada), Wunderlich-Malec Engineering, Inc. (US), Yaskawa America, Inc. (Japan), Fuji Electric Co., Ltd. (Japan), Genpact (US), ICONICS, Inc. (US), and Mitsubishi Electric Corporation (Japan), among others
Industrial Services Market Dynamics
This section deals with understanding the market drivers, opportunities, restraints and challenges. All of this is discussed in detail as below:
- Infrastructural Developments
The increase in number of infrastructure-related developments is one of the major factors driving the growth of industrial services market. The rise in infrastructure-related projects escalating private participation in infrastructure (PPI) to invest more generate more demand for hoses.
- Use in Various Industrial Applications
The rise in demand for healthy industrial hoses in various applications accelerate the market growth. An industrial hose is widely used across wide range of industries for improved resource usage, and mechanical administrations, among others.
- Deployment of Various Strategies
The rise in the deployment of strategies such as service contracts and agreements, product developments and expansions further influence the market. Also, increase in the need for operational quality and the high adoption of cloud connectivity assist in the expansion of the market.
Additionally, rapid urbanization, change in lifestyle, surge in investments and increased consumer spending positively impact the industrial services market.
Furthermore, increased demand for predictive maintenance services and collaboration of industrial services providers with OEMs extend profitable opportunities to the market players in the forecast period of 2022 to 2029. Also, rapid development of the Internet of Things (IoT) will further expand the market.
On the other hand, varying compliances and dearth of skilled personnel are expected to obstruct market growth. Also, high demand for integration of services and supply chain disruptions amid COVID-19 pandemic are projected to challenge the industrial services market in the forecast period of 2022-2029.
This industrial services market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on industrial services market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
COVID-19 Impact on Industrial Services Market
The COVID-19 had a negative impact on industrial services market owing to the strict lockdowns and social distancing to contain the spread of the virus. The economic uncertainty, partial shutdown of the business and low consumer confidence impacted demand for freight forwarding market. The supply chain got hampered during the pandemic along with delay logistics activities. However, the industrial services market is expected to regain its pace during the post pandemic scenario due to the easing on the restrictions.
- Schneider Electric partnered with Semiotic Labs in October’2020. The aim of the partnership is to expand EcoStruxure Asset Advisor digital service to include predictive maintenance and condition-based monitoring of rotating equipment.
- ABB signed a new frame agreement in December’2019. The purpose of the agreement is delivering safety and automation systems across Equinor’s installed base and greenfield projects.
Global Industrial Services Market Scope and Market Size
The industrial services market is segmented on the basis of type, application and end user. The growth amongst these segments will help you analyze meager growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
- Engineering and Consulting
- Installation and Commissioning
- Operational Improvement and Maintenance
- Distributed Control System
- Programmable Logic Controller
- Supervisory Control and Data Acquisition
- Electric Motors and Drives
- Valves and Actuators
- Human Machine Interface
- Manufacturing Execution System
- Safety Systems
- Industrial PC
- Industrial 3D Printing
- Industrial Robotics
- Oil and Gas
- Healthcare and Pharmaceuticals
- Water and Wastewater
- Food and Beverages
- Energy and Power
- Semiconductor and Electronics
- Paper and Pulp
- Metals and Mining
Industrial Services Market Regional Analysis/Insights
The industrial services market is analyzed and market size insights and trends are provided by country, type, application and end user.
The countries covered in the industrial services market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
Asia-Pacific (APAC) dominates the industrial services market due to the rise in the industrial automation and related services in emerging countries such as India, China and Japan along with the rise in the trend of cloud connectivity within the region.
North America is expected to witness significant growth during the forecast period of 2022 to 2029 because of the rapid development and rise in the mechanical technology in the region.
The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points such as down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Industrial Services Market
The industrial services market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to industrial services market.
Some of the major players operating in the industrial services market are
- General Electric (US)
- Siemens (Germany)
- Metso Corporation (Finland)
- John Wood Group PLC (UK)
- Honeywell International Inc (US)
- ABB (Sweden)
- Emerson Electric Co. (US)
- Rockwell Automation, Inc. (US)
- SAMSON AG (Germany)
- Schneider Electric (France)
- ATS Automation Tooling Systems Inc. (Canada)
- SKF (Sweden)
- Dynamysk Automation Ltd. (Canada)
- Wunderlich-Malec Engineering, Inc. (US)
- Yaskawa America, Inc. (Japan)
- Fuji Electric Co., Ltd. (Japan)
- Genpact (US)
- ICONICS, Inc. (US)
- Mitsubishi Electric Corporation (Japan)
Research Methodology: Industrial Services Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please request an analyst call or can drop down your enquiry.
The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
Data Bridge Market Research is a leader in advanced formative research. We take pride in servicing our existing and new customers with data and analysis that match and suits their goal. The report can be customized to include price trend analysis of target brands understanding the market for additional countries (ask for the list of countries), clinical trial results data, literature review, refurbished market and product base analysis. Market analysis of target competitors can be analyzed from technology-based analysis to market portfolio strategies. We can add as many competitors that you require data about in the format and data style you are looking for. Our team of analysts can also provide you data in crude raw excel files pivot tables (Factbook) or can assist you in creating presentations from the data sets available in the report.