Dublin, Oct. 25, 2024 (GLOBE NEWSWIRE) -- The "Global Maintenance Services Market (2024 Edition): Analysis By Service Type (Repair Service, Preventive Maintenance Service, and Discretionary Maintenance Service,), By Application : Market Insights and Forecast (2020-2030)" report has been added to ResearchAndMarkets.com's offering.
The market was valued at USD 64.77 Billion in 2023 which is expected to reach USD 142.81 Billion in 2030. The Global Maintenance Services Market showcased growth at a CAGR of 10.30% during 2020-2023.
The research report provides a complete analysis for the historical period of 2020-2023, the estimates of 2024 and the forecast period of 2025-2030. The report analyses the Maintenance Services Market by Region (Americas, Europe, Asia Pacific, Middle East & Africa) and 10 Countries (United States, Canada, United Kingdom, Germany, France, Italy, China, Japan, South Korea, and India).
The Global Maintenance Services Market comprises of a range of diverse industries such as services management, equipment maintenance and IT support services etc. Services offered by industrial maintenance service providers includes repair, inspection and maintenance. These includes both onshore and offshore locations and operate in different end users such as petroleum industry, energy generation, production, transportation & logistics, others.
The maintenance services market is forecasted to witness significant growth, driven by ongoing processes of rapid industrialisation. The shift towards industrialisation creates a demand for maintenance services to ensure continuous and efficient operation of machineries and assets, which are essential for minimising downtime, optimising production and extending lifespan of equipment.
Major companies in the maintenance market are prioritising advanced solutions to strengthen their market presence, contributing to a significant trend in product/services innovation. Companies empower manufacturers and maintenance operators, allowing to operate with increased efficiency. Moreover, maintenance services are important to ensure safety of workers involved in production, promoting proper functioning and maintenance of all assets.
The primary purpose of maintenance services is to uphold the operational reliability and efficiency of industrial assets which includes machinery, production lines, infrastructure and other components essential to the manufacturing process. Manufacturing locally to minimise operational costs is one of the key strategies used by manufacturers in the global maintenance services market to benefit clients and increase revenue. Major players in the maintenance services sector are adopting a strategy of forming strategic partnerships to drive innovation in energy efficiency and industrial maintenance.
Also, the maintenance services market is expected to be fuelled by the growing aerospace sector, which includes companies working in modification, repair, part replacement, service etc of different types of aircrafts. Maintenance support from aerospace sector companies is crucial for corporate, commercial and military sectors.
Scope of the Report
- The report analyses the Global Maintenance Services Market by Value (USD Billion).
- The report analyses the Maintenance Services Market by Region (Americas, Europe, Asia Pacific, Middle East & Africa) and 10 Countries (United States, Canada, United Kingdom, Germany, France, Italy, China, Japan, South Korea, and India)
- The report presents the analysis of Global Maintenance Services Market for the historical period of 2020-2023, the estimated year 2024 and the forecast period of 2025-2030.
- The report analyses the Global Maintenance Services Market, By Service Type (Repair Service, Preventive Maintenance Service and Discretionary Maintenance Service)
- The report analyses the Global Maintenance Services Market, By Application (Manufacturing, Oil & Gas, Power Generation & Utilities, Transportation & Logistics, and, Others)
- The key insights of the report have been presented through the frameworks of SWOT and Porter's Five Forces Analysis. Also, the attractiveness of the market has been presented by region, By Products, by mode of operation & by end users
- Also, the major opportunities, trends, drivers, and challenges of the industry has been analyzed in the report.
- The report tracks competitive developments, strategies, mergers and acquisitions and new product development.
Analyst Recommendations
- Focus on Technological Advancements
- Enhanced Support And Remote Monitoring
The companies analysed in the report include
- Fugro NV
- James Fisher and Sons PLC
- Royal Boskalis Westminster
- Schlumberger NV
- Aker Solutions
- Technip FMC PLC
- Oceaneering International
- Baker Hughes Company
- Petrofac Limited
- Worley Limited
For more information about this report visit https://www.researchandmarkets.com/r/2jx491
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