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), Industry (Oil & Gas, Chemicals, Automotive, Pharmaceuticals, Metals & Mining, Food & Beverages, Energy & Power, Aerospace & Defense, Others), Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa) – Industry Trends and Forecast to 2026
Market Analysis: Global Industrial Services Market
Global industrial services market is expected to register a substantial CAGR of 6.10% in the forecast period of 2019-2026. The report contains data from the base year of 2018 and the historic year of 2017. The rise in the market value can be attributed to the expansion of industrial automation and related services. Moreover, the increasing demands for predictive maintenance services and increasing equipment complexity.
Market Definition: Global Industrial Services Market
Industrial Services are the services that companies provide for the industries as needed. This contains installation and commissioning, engineering and consulting services as well as operational improvement and maintenance. These types of services are traded between organizations for further facilitation of final goods or services.
- Rise in demand for predictive maintenance services is driving this market
- Rise in increasing equipment complexity is helping in the growth of this market
- The deployment of strategies like service contracts and agreements, product developments and expansions are fueling to market growth
- The impact of fluctuating oil prices has increased the demand for industrial services which is driving this market
- Varying compliances across regions is affecting the growth of market
- Less number of skilled personnel hinders the growth of the market
Segmentation: Global Industrial Services Market
- Engineering and Consulting
- Installation and Commissioning
- Operational Improvement and Maintenance
- Distributed Control System (DCS)
- Programmable Logic Controller (PLC)
- Supervisory Control and Data Acquisition (SCADA)
- Electric Motors and Drives
- Valves and Actuators
- Human Machine Interface (HMI)
- Manufacturing Execution System (MES)
- Safety Systems
- Burner Management System (BMS)
- Emergency Shutdown System (ESD)
- Fire and Gas Monitoring and Control
- High-integrity Pressure Protection System (HIPPS)
- Turbomachinery Control (TMC)
- Oil & Gas
- Metals & Mining
- Food & Beverages
- Energy & Power
- Aerospace & Defence
- Others (Pulp & Paper, Marine, Telecom, and Transportation )
- North America
- South America
- Rest of South America
- United Kingdom
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- Middle East and Africa
- South Africa
- Saudi Arabia
- United Arab Emirates
- Rest of Middle East and Africa
Key Developments in the Market
- In July 2019, £2 million was invested in HAKI Universal scaffolding by Enigma Industrial Services for large-scale projects across the UK. Asset management director, Alan Scott predicted the growth of his company and promising commitment to their clients.
- In July 2019, ASRC Industrial Services (AIS) announced the acquisition of Environmental Quality Management (EQM). AIS is a premier provider of industrial and environmental services throughout the United States. This acquisition enhances its capabilities and increases the presence in key market.
Global industrial services market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of industrial services market for global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.
Major Market Competitors/Players
Few of the major competitors currently working in the global industrial services market are GENERAL ELECTRIC, Metso Corporation, Siemens, John Wood Group PLC, Honeywell International Inc, ABB, Emerson Electric Co., Rockwell Automation, Inc., Samson AG, Schneider Electric, ATS Automation Tooling Systems Inc., INTECH Process Automation Inc, SKF, Dynamysk Automation Ltd., Wunderlich-Malec Engineering, Inc., Yaskawa America, Inc., Fuji Electric Co., Ltd., ICONICS, Inc., Mitsubishi Electric Corporation and others.
Research Methodology: Global 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 forecasted 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, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
Key Insights in the report:
- Complete and distinct analysis of the market drivers and restraints
- Key market players involved in this industry
- Detailed analysis of the market segmentation
- Competitive analysis of the key players involved