DUBLIN--(BUSINESS WIRE)--The "Industrial Services Market - Global Forecast to 2023" report has been added to Research and Markets' offering.
The industrial services market is expected to grow at a CAGR of 5.4% between 2017 and 2023 and would be worth USD 35.41 billion by 2023.
The key factors driving the growth of the industrial services market are the development strategies, such as service contracts and service agreements, product developments, partnerships, and expansions, implemented by the players operating in the industrial services; growing demand for operational excellence; increasing demand for maintenance as a service; and increasing equipment complexity. However, the major restraining factors for the growth of this market are varying compliances across regions and lack of skilled personnel.
The operational improvement and maintenance services is expected to hold the largest share in the overall industrial services market. The growing need for operational excellence has driven the use of ad-hoc and emergency maintenance. Moreover, the demand for predictive maintenance services and increasing equipment complexity would help in the growth of the industrial services market for operational improvement and maintenance services.
The impact of reduced oil prices has created a demand for industrial services. There is a need for operational efficiency in the oil & gas industry. Modern services such as remote monitoring and predictive maintenance can reduce the unexpected downtime. Owing to these factors, the oil & gas industry is expected to hold the largest share of the overall industrial services market.
Companies Mentioned
- ABB
- Emerson Electric
- General Electric
- Honeywell International Inc.
- Metso Corporation
- Rockwell Automation
- Samson AG
- Schneider Electric
- Siemens AG
- SKF AB
- Wood Group Mustang
- Key Innovators
- ATS Automation
- Dynamysk Automation Ltd
- Intech Process Automation
- Prime Controls LP
- Wunderlich-Malec Engineering
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Industrial Services Market, By Type
7 Industrial Services Market, By Application
8 Industrial Services Market, By Industry
9 Geographic Analysis
10 Competitive Landscape
11 Company Profiles
For more information about this report visit https://www.researchandmarkets.com/research/7mb87w/industrial
