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 2030.
Industrial Services Market Analysis and Size
The Industrial Services market is segmented based on type, application, and end-user. The growth among segments helps you analyze niche pockets of growth and strategies to approach the market and determine your core influencing areas and the difference in your target markets.
Data Bridge Market Research analyses that the global Industrial Services market, which was USD 37.47 billion in 2022, would rocket up to USD 57.94 billion by 2030, and is expected to undergo a CAGR of 5.6% during the forecast period. This indicates the market value. Oil and gas industries dominates the end-user segment of the global industrial services market as The oil and gas industry is highly complex and operates with advanced technologies, equipment, and processes. It requires specialized services to maintain and optimize its operations. These services include drilling and completion services, well maintenance and intervention, pipeline inspection and maintenance, asset integrity management, and offshore services. The complexity and unique challenges of the industry create a demand for specialized industrial services. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, pipeline analysis, pricing analysis, and regulatory framework.
Industrial Services Market Scope and Segmentation
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Report Metric
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Details
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Forecast Period
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2023 to 2030
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Base Year
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2022
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Historic Years
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2021 (Customisable to 2015-2020)
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Quantitative Units
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Revenue in USD Billion, Volumes in Units, Pricing in USD
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Segments Covered
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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)
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Countries Covered
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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
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Market Players Covered
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ABB Ltd. (Switzerland), Siemens AG (Germany), Schneider Electric SE (France), General Electric Company (GE) (U.S.), Emerson Electric Co. (U.S.), Honeywell International Inc. (U.S.), Rockwell Automation, Inc. (U.S.), Johnson Controls International plc (Ireland), SKF AB (Sweden), Mitsubishi Electric Corporation (Japan), Eaton Corporation plc (Ireland), Daikin Industries, Ltd. (Japan), Yokogawa Electric Corporation (Japan), SGS SA (Switzerland), Cognizant Technology Solutions Corp. (U.S.)
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Market Opportunities
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Market Definition
The industrial services market refers to a sector of the economy that encompasses a wide range of services provided to businesses operating in various industries. These services are typically specialized and tailored to meet the specific needs of industrial companies. The market includes both specialized service providers and in-house service departments within industrial organizations.
Global Industrial Services Market Dynamics
Drivers
- Increasing Focus on Outsourcing:
Companies across industries are increasingly outsourcing non-core activities, including industrial services, to specialized service providers. This allows companies to focus on their core competencies while benefiting from the expertise and cost efficiencies offered by industrial service providers.
- Growing Complexity of Industrial Operations:
Industrial processes and technologies are becoming more complex, requiring specialized knowledge and equipment for maintenance, repair, and optimization. This drives the demand for industrial services that can address the specific needs of complex industrial operations.
Opportunity
- Digital Transformation:
The integration of digital technologies such as Internet of Things (IoT), data analytics, and artificial intelligence (AI) presents opportunities for industrial services providers. These technologies enable remote monitoring, predictive maintenance, and real-time data analysis, enhancing operational efficiency and reducing downtime.
Restrain/Challenge
- Economic Uncertainty:
Economic fluctuations and uncertainties can impact industrial investments and discretionary spending on services. During economic downturns, companies may delay or reduce spending on industrial services, affecting market growth.
This global industrial services market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, the 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 the Industrial Services market contact Data Bridge Market Research for an Analyst Brief, our team will help you make an informed market decision to achieve market growth.
Recent Development
- 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
The global industrial services market is segmented on the basis of type, application, and end-user. The growth amongst these segments will help you analyse meagre 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.
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
Global Industrial Services Market Regional Analysis/Insights
The global Industrial Services market is analyzed and market size insights and trends are provided by country, type, application, and end-user as referenced above.
The countries covered in the Global Industrial Services market report are the 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.
The North Amerixa dominates the market and growing with the highest CAGR due to its strong technology and innovation ecosystem. Many of the leading companies in the Industrial Services market are based in the U.S., and they drive technological advancements in the field. These companies invest heavily in research and development, creating cutting-edge solutions and setting industry standards.
The country section of the report also provides individual market-impacting factors and domestic regulation changes that impact the market's current and future trends. Data points like downstream 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 North America brands and the challenges faced due to large or scarce competition from local and domestic brands, the impact of domestic tariffs, and trade routes are considered while providing forecast analysis of the country data.
Semiconductor Infrastructure growth Installed base and New Technology Penetration
The global industrial services market also provides you with a detailed market analysis for every country’s growth in healthcare expenditure for capital equipment, installed base of different kinds of products for the global industrial services market, the impact of technology using life line curves, and changes in healthcare regulatory scenarios and their impact on the market. The data is available for the historic period 2015-2020.
Competitive Landscape and Global Industrial Services Market Share Analysis
The global industrial services market competitive landscape provide details by competitors. 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, and application dominance. The above data points provided are only related to the companies' focus related to the market.
Some of the major players operating in the global industrial services market are:
- ABB Ltd. (Switzerland)
- Siemens AG (Germany)
- Schneider Electric SE (France)
- General Electric Company (GE) (U.S.)
- Emerson Electric Co. (U.S.)
- Honeywell International Inc. (U.S.)
- Rockwell Automation, Inc. (U.S.)
- Johnson Controls International plc (Ireland)
- SKF AB (Sweden)
- Mitsubishi Electric Corporation (Japan)
- Eaton Corporation plc (Ireland)
- Daikin Industries, Ltd. (Japan)
- Yokogawa Electric Corporation (Japan)
- SGS SA (Switzerland)
- Cognizant Technology Solutions Corp. (U.S.)
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