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Industrial Services Market Segmentation by Service Type (Engineering & Consulting, Installation & Commissioning, and Operational Improvement & Maintenance); by Application {Distributed Control System (DCS), Programmable Logic Controller (PLC), Supervisory Control and Data Acquisition (SCADA), Electric Motors & Drives, Valves & Actuators, Human Machine Interface, Monitoring Systems, Signaling Systems}; and by End-User – Global Demand Analysis & Opportunity Outlook 2019-2028

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Extensive insights into the Growth of Industrial Services Market amidst COVID-19

Before we witness the stabilization of economic growth in Europe and North America, Asia Pacific is estimated to bounce back progressively with countries such as China, India, South Korea and Japan witnessing more opportunities to recover from the losses sustained during COVID-19.

Being the biggest market in Eastern Europe, Russia is estimated to take the lowest hit, offering a sigh of relief to the businesses operating in the country. Whereas, GCC is estimated to observe low investments due to the sliding prices of crude oil.

We evaluate the strategies and commitment of the Giant Players in the market towards creating products and services that customers value and rely on.

In an attempt to control and eliminate the surge of coronavirus cases and meet the demand for required medical devices along with providing efficient medical services, there is a drastic shift of investments from authoritative bodies towards the healthcare sector. Where the aftermath of this pandemic may take years to be measured, Research Nester estimates notable expansion of e-health, gaming, and media and entertainment industries till the whole situation is contained and the plan of action for the recovery process is determined. There is an estimated probability of the growth in businesses going back a year if the condition is controlled in the next 2-3 months.                                                         Request Insights

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IN THE NEWS

  • December 3, 2020: General Electric announced that the company has been selected by Azora to provide onshore wind turbines in Spain for the Cuevas de Velasco wind farm.

  • October 21, 2020: Siemens AG announced that it has come into a partnership with Netze BW to develop better, smarter, and more sustainable distribution grids.

Global Industrial Services Market Highlights Over 2019 - 2028

The global industrial services market is estimated to garner a revenue of USD 41047 Million by 2028 from USD 28881.0 Million in 2019 by growing at a CAGR of 5.12% over the forecast period, i.e., 2020 – 2028. The growth of the market can be attributed to the increasing demand for operational excellence across the industrial sectors, coupled with the rising adoption of various technologies, such as industrial internet of things (IIoT). Industries are increasingly prioritizing their business operations to satisfy the demand of their customers and to generate high yields. Moreover, to gain a sustainable competitive edge over its competitors, there is a growing need amongst the industries to improve their process efficiency. Enhancing work quality, generating faster throughput and less waste, are some of the focus areas where development is required across industries, therefore raising the need for industrial services. On the other hand, increasing spending by geographies on internet of things (IoT) is also anticipated to contribute to the market growth. In the year 2019, United States and China were among the two major nations which held the largest share of around 26% and 24% respectively amongst other major geographies for spending on internet of things. On the other hand, the numerous challenges observed by businesses worldwide especially in logistics and other operational processes owing to the COVID-19 pandemic and the need to lower the operational costs is also anticipated to drive the market growth.

Global Industrial Services

Global Industrial Services Market Regional Synopsis

Regionally, the global industrial services market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in the North America region witnessed modest growth by attaining a revenue of USD 9740 Million in 2019 and is further expected to grow with a CAGR of 4.13% over the forecast period. The growth of the market can be attributed to the increasing evolution of different types of service models, along with the digital transformation witnessed across the region. Moreover, presence of several flourished industries such as the food and beverage industry, in countries such as the United States and Canada, along with the growing focus towards functional safety in industries such as mining, chemicals, pharmaceutical, and others, are some of the additional factors anticipated to drive the market growth. According to the statistics by the United States Census Bureau, the sales of retail trade and food services in the nation grew from USD 3282961 Million in 2000 to USD 6205714 Million in 2020. The market in the region is further segmented by country into the United States and Canada, out of which, the market in the U.S. is projected to grow with the highest CAGR of 4.30% during the forecast period.On the other hand, the market in the Asia Pacific is expected to hold the largest revenue of USD 13264 Million by the end of 2028 CLICK TO DOWNLOAD SAMPLE REPORT

The study further incorporates Y-O-Y Growth, market opportunities, demand & supply and forecast future opportunity in North America (United States, Canada, Mexico), South America, Europe (U.K., Germany, France, Italy, Spain, Hungary, BENELUX [Belgium, Netherlands, Luxembourg], NORDIC [Norway, Denmark, Sweden, Finland], Poland, Russia, Rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Malaysia, Indonesia, Taiwan, Hong Kong, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa).

Growth Drivers and Challenges Impacting the Growth of the Global Industrial Services Market

Growth Drivers

  • Growing Trends of Globalization
  • Rising Need for Operational Excellence in Industries

Challenges

  • Lack of Availability of Skilled Technicians
  • Stringent Regulations and Local Compliances

Global Industrial Services Market Segmentation Synopsis 

The global industrial services market is segmented on the basis of service type into engineering & consulting, installation & commissioning, and operational improvement & maintenance. Among these segments, the operational improvement & maintenance segment is anticipated to register the largest market share by the end of 2028 and by registering a value of USD 18016.5 Million in the same year. Operational improvement & maintenance services deal with the minor maintenance and care of business assets, including budgeting, business maintenance, training, and other business improvement factors that work together to run an organization smoothly. This type of service does not require skilled professionals with in-depth technical knowledge. Moreover, the installation & commissioning segment is anticipated to grow with the highest CAGR of 5.38% during the forecast period. The market is further segmented on the basis of application into distributed control system (DCS), programmable logic controller (PLC), supervisory control and data acquisition (SCADA), electric motors & drives, valves & actuators, human machine interface (HMI), monitoring systems, signaling systems, imaging systems, manufacturing executing system (MES), and safety systems. Amongst these segments, the manufacturing execution system (MES) segment registered significant market value of USD 5615.7 Million in the year 2019. The market is further segmented by end-user into oil & gas industry, chemical industry, energy & power, mining, marine & shipbuilding, pharmaceutical industry, machine building, food & beverage industry, and others, out of which, the pharmaceutical industry segment is anticipated to register the largest market share of 18.85% by the end of 2028.

Industrial Services Market Share Graph

Key Companies Dominating the Market

Our report has covered detailed company profiling comprising company overview, business strategies, key product offerings, financial performance, key performance indicators, risk analysis, recent developments, regional presence, and SWOT analysis among other notable indicators for competitive positioning. Some of the prominent industry leaders in the global industrial services market that are included in our report are General Electric, Siemens AG, Schneider Electric, ABB Ltd., Eaton Corporation plc, Honeywell International Inc., Samson AG, R. Stahl AG, Rockwell Automation, Inc., Leadec Holding BV & Co. KG, Bilfinger SE, WERMA Signaltechnik GmbH, and others.

Key Reasons to Buy Our Report

  • The report covers detailed analysis comprising market share attained by each market segment and its sub-segments.
  • It covers market dynamics including growth drivers, trends, potential opportunities, price trend analysis and challenges that impact the market growth.
  • The report includes detailed company profiles of the major players dominating the market.
  • We use effective research methodologies to calculate the market numbers and provide value-added assessment for overall growth.
  • We provide customized reports as per the clients’ requirement helping them to see possible and unexpected challenges and unforeseen opportunities in order to help them reach their goal.

FREQUENTLY ASKED QUESTIONS

  1. Introduction
    1. Market Definition
    2. Market Segmentation
    3. Product Overview
  2. Assumptions and Acronyms
  3. Research Methodology
    1. Research Process
    2. Primary Research
      1. Industrial Service Providers                                                                                       
      2. End Users
    3. Secondary Research
    4. Market Size Estimation
  4. Executive Summary – Global Industrial Services Market
  5. Analysis on the Market Dynamics
    1. Growth Drivers
    2. Market Trends
  6. Major Roadblocks for the Market
  7. Key Market Opportunities
    1. Service Type Based
    2. Application Type Based
    3. End-User Based
    4. Geography Based
  8. End-User Usability Analysis – Industrial Services
  9. Average Pricing Analysis
  10. Impact of Covid-19 on the Industrial Services Market
    1. Impact on the overall market
    2. Impact on the supply chain
    3. Impact on end-users
    4. Impact on overall price trend
    5. Impact on demand
    6. Impact on revenue generation of key players
  11. Regional Analysis of Industrial Services Ecosystem
  12. Technological Outlook on Explosion Protection
  13. Product Portfolio Comparative Analysis
  14. Global Industrial Services Market Outlook
    1. By Value, 2019-2028 (USD Million)
      1. By Service Type
        1. Engineering and Consulting, 2019-2028F (USD Million)
        2. Installation and Commissioning, 2019-2028F (USD Million)
        3. Operational Improvement and Maintenance, 2019-2028F (USD Million)
      2. By Application
        1. Distributed Control System (DCS), 2019-2028F (USD Million)
        2. Programmable Logic Controller (PLC), 2019-2028F (USD Million)
        3. Supervisory Control and Data Acquisition, 2019-2028F (USD Million)
        4. Electric Motors and Drives, 2019-2028F (USD Million)
        5. Valves and Actuators, 2019-2028F (USD Million)
        6. Human Machine Interface (HMI), 2019-2028F (USD Million)
        7. Monitoring Systems, 2019-2028F (USD Million)
        8. Signaling Systems, 2019-2028F (USD Million)
        9. Imaging Systems, 2019-2028F (USD Million)
        10. Manufacturing Execution System (MES), 2019-2028F (USD Million)
        11. Safety Systems, 2019-2028F (USD Million)
          1. Explosion Protection System, 2019-2028F (USD Million)
            1.       Motors & Control Systems, 2019-2028F (USD Million)
            2.       Power Supply System, 2019-2028F (USD Million)
            3.       Automation System, 2019-2028F (USD Million)
            4.       Surveillance System, 2019-2028F (USD Million)
            5.       Other Systems, 2019-2028F (USD Million)
          2. Burner Management System (BMS), 2019-2028F (USD Million)
          3. Emergency Shutdown System (ESD), 2019-2028F (USD Million)
          4. Fire and Gas Monitoring and Control, 2019-2028F (USD Million)
          5. Others, 2019-2028F (USD Million)
      3. By End-User
        1. Oil & Gas Industry, 2019-2028F (USD Million)
        2. Chemical Industry, 2019-2028F (USD Million)
        3. Energy & Power, 2019-2028F (USD Million)
        4. Mining, 2019-2028F (USD Million)
        5. Marine and Shipbuilding, 2019-2028F (USD Million)
        6. Pharmaceutical Industry, 2019-2028F (USD Million)
        7. Aviation, 2019-2028F (USD Million)
        8. Food & Beverage Industry, 2019-2028F (USD Million)
        9. Others, 2019-2028F (USD Million)
      4. By Region
        1. North America, 2019-2028F (USD Million)
        2. Europe, 2019-2028F (USD Million)
        3. Asia Pacific, 2019-2028F (USD Million)
        4. Latin America, 2019-2028F (USD Million)
        5. Middle East & Africa, 2019-2028F (USD Million)
  15. North America Industrial Services Market Outlook
    1. By Service Type
      1. Engineering and Consulting, 2019-2028F (USD Million)
      2. Installation and Commissioning, 2019-2028F (USD Million)
      3. Operational Improvement and Maintenance, 2019-2028F (USD Million)
    2. By Application
      1. Distributed Control System (DCS), 2019-2028F (USD Million)
      2. Programmable Logic Controller (PLC), 2019-2028F (USD Million)
      3. Supervisory Control and Data Acquisition, 2019-2028F (USD Million)
      4. Electric Motors and Drives, 2019-2028F (USD Million)
      5. Valves and Actuators, 2019-2028F (USD Million)
      6. Human Machine Interface (HMI), 2019-2028F (USD Million)
      7. Monitoring Systems, 2019-2028F (USD Million)
      8. Signaling Systems, 2019-2028F (USD Million)
      9. Imaging Systems, 2019-2028F (USD Million)
      10. Manufacturing Execution System (MES), 2019-2028F (USD Million)
      11. Safety Systems, 2019-2028F (USD Million)
        1. Explosion Protection System, 2019-2028F (USD Million)
          1.       Motors & Control Systems, 2019-2028F (USD Million)
          2.       Power Supply System, 2019-2028F (USD Million)
          3.       Automation System, 2019-2028F (USD Million)
          4.       Surveillance System, 2019-2028F (USD Million)
          5.       Other Systems, 2019-2028F (USD Million)
        2. Burner Management System (BMS), 2019-2028F (USD Million)
        3. Emergency Shutdown System (ESD), 2019-2028F (USD Million)
        4. Fire and Gas Monitoring and Control, 2019-2028F (USD Million)
        5. Others, 2019-2028F (USD Million)
    3. By End-User
      1. Oil & Gas Industry, 2019-2028F (USD Million)
      2. Chemical Industry, 2019-2028F (USD Million)
      3. Energy & Power, 2019-2028F (USD Million)
      4. Mining, 2019-2028F (USD Million)
      5. Marine and Shipbuilding, 2019-2028F (USD Million)
      6. Pharmaceutical Industry, 2019-2028F (USD Million)
      7. Aviation, 2019-2028F (USD Million)
      8. Food & Beverage Industry, 2019-2028F (USD Million)
      9. Others, 2019-2028F (USD Million)
  16. Europe Industrial Services Market Outlook
  17. Asia-Pacific Industrial Services Market Outlook
  18. Latin America Industrial Services Market Outlook
  19. Middle East & Africa Industrial Services Market Outlook
  20. Competitive Landscape, 2019-2028
    1. General Electric
    2. Honeywell International Inc.
    3. Samson AG
    4. R. Stahl AG
    5. Siemens AG
    6. Schneider Electric
    7. Rockwell Automation, Inc.
    8. Eaton Corporation plc
    9. ABB Ltd.
    10. Leadec Holding BV & Co. KG
    11. Bilfinger SE
    12. WERMA Signaltechnik GmbH
    13. Other leading players

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