About Industrial Services
Industrial Services is defined as service with customers engaged primarily within a process which creates raw materials into another form which includes the generation of electric power. Industrial Services also defined as services that are traded between organizations and not for final consumption but for the facilitation of final goods or services. Industrial services are same as industrial manufacturing, engineering, construction, building maintenance, and shipping.
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 5.7% |
This market is fragmented by market leading players those are high focusing on production technologies, improving production efficiency and service life. With the growing number of opportunities in the market, these market potentials are captured by tracking the ongoing process improvement and by invest in market strategies. Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global Industrial Services market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Siemens (Germany), Metso Corporation (Finland), John Wood Group PLC (United Kingdom), Honeywell International Inc, (United States), ABB (Switzerland), Emerson Electric Co., (United States), Rockwell Automation, Inc., (United States), SAMSON AG (Germany), Schneider Electric (France), ATS Automation Tooling Systems Inc., (Canada), SKF (Sweden) and Dynamysk Automation Ltd., (Canada) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are Yokogawa Electric Corporation (Japan) and General electric company (United States).
Segmentation Overview
AMA Research has segmented the market of Global Industrial Services market by Type (Engineering and Consulting, Installation and Commissioning and Operational Improvement and Maintenance), Application (Distributed Control System, Programmable Logic Controller, Supervisory Control and Data Acquisition, Electric Motors and Drives, Valves and Actuators and Others) and Region.
On the basis of geography, the market of Industrial Services has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Industry, the sub-segment i.e. Oil and Gas will boost the Industrial Services market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
High Adoption in application services
Market Growth Drivers:
Rising demand in construction sites
Challenges:
Ongoing maintenance of their equipment
Restraints:
High cost of equipment
Opportunities:
Growth of Machine Learning Regarding Vision Technology and Highly development of Internet of things
Market Leaders and their expansionary development strategies
In February 2024, CORE Industrial Partners (CORE), a manufacturing, industrial technology, and industrial services-focused private equity firm, is pleased to announce the closing of USD 887 million in capital commitments between its USD 685 million flagship fund, CORE Industrial Partners Fund III, L.P. (Fund III) and USD 202 million in its new offering, CORE Industrial Services Fund I, L.P. (Services Fund I) with both funds exceeding their targets.
In February 2023, Schneider Electric, the leader in the digital transformation of energy management and automation, today launched its new Industrial Digital Transformation Services, during the 27th Annual ARC Industry Leadership Forum, taking place in Orlando, Florida, from February 6-9. The specialized global service is designed to help industrial enterprises achieve future-ready, innovative, sustainable, and effective end-to-end digital transformation.
Key Target Audience
Venture Capitalists and Private Equity Firms, New Entrants/Investors, Government Regulatory and Research Organizations, End-Use Industries and Manufacturers , Distributors, and Suppliers
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.