The Worldwide Industrial Services Industry is Expected to Reach $44.1 Billion by 2025
DUBLIN, Jan. 13, 2021 /PRNewswire/ -- The "Industrial Services Market with COVID-19 Impact by Type (Engineering & Consulting, Installation & Commissioning, Operational Improvement & Maintenance), Application (MES, Motors & Drives, DCS, HMI, PLC), Industry, and Region - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
The global industrial services market is expected to be valued at USD 33.6 billion in 2020 and is expected to reach USD 44.1 billion by 2025, at a CAGR of 5.6% between 2020 and 2025.
The growth of the industrial services market is attributed to the growing need for operational excellence, increasing demand for maintenance-as-a-service, and increasing equipment complexity. Operational excellence is one of the major factors that help industry players achieve optimal performance in the production process.
The market for operational improvement & maintenance services to grow at a higher CAGR during the forecast period.
The operational improvement and maintenance services segment includes ad-hoc and emergency maintenance, scheduled maintenance, and predictive maintenance. These services help process and discrete industries to avert unexpected faults and enhance the life of equipment and systems. Operational improvement and maintenance services use an integrated approach that combines both organizational and technical solutions to enhance the working efficiency of a plant. These factors owing to the higher growth of operational improvement & maintenance services during the forecast period.
The market for the food & beverages industry to grow at the highest CAGR during the forecast period.
There is a strong demand for processed food from the emerging markets owing to the burgeoning population and the increasing food consumption all over the world. Besides raising costs, the food & beverages industry faces other challenges such as regulatory compliance, management of the global supply chain, product quality, and continuous process improvement. These challenges are overcome using SCADA, PLC, DCS, and MES systems to enhance productivity, save resources, and minimize downtime, as well as maintain adherence to regulatory compliances.
APAC is projected to grow at a higher CAGR during the forecast period.
APAC is expected to be the fastest-growing market for the industrial services market. APAC is considered one of the fastest-growing economies. Countries in this region focus on large-scale industrial manufacturing and, thus, has a vast number of manufacturing plants of almost all major companies across the world. Countries such as China, India, Japan, South Korea, Australia, and Indonesia are rapidly expanding their manufacturing output. China is considered as one of the biggest manufacturing countries in the world, thereby driving the manufacturing sector in APAC. Various multinational companies have set up their manufacturing plants in APAC and are adopting higher safety standards leading to increased demand for industrial services. However, due to the outbreak of COVID-19, various companies in APAC witnessed a decline in demand for industrial services.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
3.1 Pre-COVID-19
3.2 Realistic Scenario
3.3 Pessimistic Scenario
3.4 Optimistic Scenario
4 Premium Insights
4.1 Attractive Market Opportunities in the Overall Industrial Services Market
4.2 Industrial Services Market, by Type
4.3 Industrial Services Market, by Application
4.4 Geographic Analysis of Industrial Services Market
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Fiscal Policy Steps Taken by Regional Financial Institutions to Sustain Manufacturing Facilities Amid COVID-19 Crisis
5.2.1.2 Growing Need for Operational Excellence
5.2.1.3 Increasing Demand for Maintenance-As-A-Service
5.2.1.4 Increasing Equipment Complexity
5.2.2 Restraints
5.2.2.1 Varying Compliances Across Regions
5.2.2.2 Lack of Skilled Personnel
5.2.3 Opportunities
5.2.3.1 Predictive Maintenance Services
5.2.3.2 Collaboration of Industrial Services Providers with OEMs
5.2.4 Challenges
5.2.4.1 Supply Chain Disruptions due to COVID-19 Pandemic
5.2.4.2 Demand for Integration of Services
5.3 Value Chain Analysis
5.4 Patent Analysis
5.5 Technology Analysis
5.6 Case Study
5.6.1 Use Case 1: Enel Green Power S.P.A
5.6.2 Use Case 2: Siemens
5.7 Ecosystem
5.8 Industrial Safety Standards & Regulations
5.8.1 Process Industry
5.8.1.1 I Ec 61508
5.8.1.2 I Ec 61511
5.8.2 Machinery
5.8.2.1 Iec 62061
6 Industrial Services Market, by Type
6.1 Introduction
6.2 Engineering & Consulting
6.2.1 System Configuration
6.2.1.1 Industrial Services Providers Help End-users Select Appropriate Configuration of Automation Devices and Systems
6.2.2 Compliances
6.2.2.1 Growing Number of Compliances and Need for Safe Working Environment in Industries Lead to Widespread Adoption of Industrial Services
6.2.3 Infrastructure Audit
6.2.3.1 Audit Reports Assist in Presales Discussion of Automation Systems Such as Dsc, Scada, and Mes
6.3 Installation & Commissioning
6.3.1 Training
6.3.1.1 Training Service is a Vital Part of Establishment of Industrial Systems
6.3.2 Testing & Certification
6.3.2.1 Certification Services Help Demonstrate Compliance with National or International Standards
6.4 Operational Improvement & Maintenance
6.4.1 Ad-Hoc and Emergency Maintenance
6.4.1.1 Ad-Hoc and Emergency Maintenance Services Help End-users Reduce Unplanned Downtime
6.4.2 Scheduled Maintenance
6.4.2.1 Scheduled Maintenance Services Provide Up-To-Date Maintenance of Filed Devices, Software, and Plant
6.4.3 Mechanical
6.4.3.1 Electric Motors and Drives are Require Mechanical Services Throughout Their Lifecycle
6.4.4 Predictive Maintenance
6.4.4.1 Predictive Maintenance Services are Used to Improve Reliability and Life of Devices
7 Industrial Services Market, by Application
7.1 Introduction
7.2 Distributed Control System (Dcs)
7.3 Programmable Controller Logic (Plc)
7.4 Supervisory Control and Data Acquisition (Scada)
7.5 Motors & Drives
7.5.1 Digitization Scenario
7.5.1.1 Artificial Intelligence
7.5.1.2 Smart Sensor
7.5.1.3 Connectivity
7.5.2 Other Services
7.5.2.1 Repair and Maintenance
7.5.2.2 Parts Replacement
7.6 Human Machine Interface (Hmi)
7.7 Manufacturing Execution System (Mes)
7.8 Safety Systems
7.8.1 Burner Management System (Bms)
7.8.2 Emergency Shutdown System (Esd)
7.8.3 Fire & Gas Monitoring & Control
7.8.4 High-Integrity Pressure Protection Systems (Hipps)
7.8.5 Turbomachinery Control (Tmc)
7.9 Industrial Pc
7.10 Industrial 3D Printing
7.11 Industrial Robotics
8 Industrial Services Market, by Industry
8.1 Introduction
8.2 Automotive
8.2.1 Impact of COVID-19 on Automotive Industry
8.3 Aerospace
8.3.1 Impact of COVID-19 on Aerospace Industry
8.4 Chemicals
8.4.1 Impact of COVID-19 on Chemicals Industry
8.5 Food & Beverages
8.5.1 Impact of COVID-19 on Food & Beverages Industry
8.6 Healthcare & Pharmaceuticals
8.6.1 Impact of COVID-19 on Healthcare & Pharmaceutical Industry
8.7 Oil & Gas
8.7.1 Impact of COVID-19 on Oil & Gas Industry
8.8 Metals & Mining
8.8.1 Impact of COVID-19 on Metal & Mining Industry
8.9 Energy & Power
8.9.1 Impact of COVID-19 on Energy & Power Industry
8.10 Semiconductor & Electronics
8.10.1 Impact of COVID-19 on Semiconductor & Electronics Industry
8.11 Water & Wastewater
8.12 Others
9 Geographic Analysis
9.1 Introduction
9.2 North America
9.3 Europe
9.4 Asia-Pacific
9.5 Rest of the World (Row)
10 Competitive Landscape
10.1 Overview
10.2 Market Share and Revenue Analysis: Industrial Services Market
10.3 Company Evaluation Quadrant
10.3.1 Star
10.3.2 Emerging
10.3.3 Pervasive
10.3.4 Participant
10.4 Strength of Product Portfolio
10.5 Business Strategy Excellence
10.6 Competitive Situation & Trends
10.6.1 Contracts, Agreements, and Partnerships
10.6.2 Product Launches & Developments
10.6.3 Others
11 Company Profiles
11.1 Introduction
11.2 Key Players
11.2.1 ABB
11.2.2 Honeywell International
11.2.3 Rockwell Automation
11.2.4 Schneider Electric
11.2.5 Siemens Ag
11.2.6 General Electric
11.2.7 Emerson Electric
11.2.8 Yokogawa
11.3 Other Prominent Players
11.3.1 Ats Automation
11.3.2 Metso Corporation
11.3.3 Mitsubishi
11.3.4 Yaskawa Electric Corporation
11.3.5 Dynamysk Automation Ltd
11.3.6 Intech Process Automation
11.3.7 Prime Controls Lp
11.3.8 Wunderlich-Malec Engineering
11.3.9 Wood Group Mustang
11.3.10 Skf Ab
11.3.11 Samson
12 Adjacent & Related Markets
12.1 Introduction
12.2 Limitations
12.3 Industrial Safety Market, by Component
12.4 Industrial Safety Market, by System
12.5 Industrial Safety Market, by Industry
13 Appendix
For more information about this report visit https://www.researchandmarkets.com/r/eajm9d
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