Increasing demand for maintenance and repair services fuels the growth of the US & Europe Industrial Services market at a CAGR of 8.3% during the forecast period 2023 to 2032

Market Research Future (MRFR) has published on the “Global US & Europe Industrial Services Market”.

The Industrial Services market is estimated to register a CAGR of 8.3% during the forecast period of 2023 to 2032.

MRFR recognizes the following companies as the key players in the US & Europe Industrial Services market— ABB Ltd., Rockwell Automation Inc., Siemens AG, Honeywell International Inc., Schneider Electric SE, Emerson Electric Company, General Electric (GE) Company, Altrad, Horvath, Micro Precision, Leadec Holding BV & Co. KG and Process Sensing Technologies (PST).

Market Highlights

The US & Europe Industrial Services market is accounted for to register a CAGR of 8.3% during the forecast period and is estimated to reach USD 40,308.8 million by 2032.

As industrial operations become more complex, companies require specialized expertise to manage and maintain their equipment and systems. Industrial service providers offer highly trained professionals with in-depth knowledge and experience in specific industries and technologies. These experts can diagnose, troubleshoot, and repair complex machinery, ensuring optimal performance and minimizing downtime.

Complex industrial operations are prone to various risks, including equipment failure, safety hazards, and environmental concerns. Industrial service providers can help mitigate these risks by implementing preventive maintenance programs, conducting risk assessments, and providing maintenance and repair services. By addressing potential risks proactively, companies can minimize the impact of unexpected failures and accidents.

Complex industrial operations are highly dependent on the continuous functioning of equipment and systems. Any downtime can result in significant financial losses. Industrial service providers offer preventive maintenance, predictive analytics, and real-time monitoring services to identify potential issues before they cause downtime. By minimizing downtime, companies can optimize productivity and maintain a competitive edge.

Complex industrial operations are subject to stringent regulations and compliance requirements. Industrial service providers have a deep understanding of these regulations and can ensure that equipment and systems meet the necessary standards. They can perform inspections, testing, and certification to ensure compliance, reducing the risk of penalties and legal issues for companies.

The manufacturing process is complex and requires many different components to work together to produce something worthwhile. The more complex a machine is, the more likely it is that something will go wrong during the operation. This means that companies in this industry need to be prepared for any kind of situation and preparedness starts with maintenance and reliability. With advancements in technology, industrial operations are incorporating sophisticated machinery and systems. These technologies often require specialized skills and knowledge for installation, maintenance, and repair. Industrial service providers stay up to date with the latest technologies and have the expertise to handle complex systems, such as robotics, automation, and advanced control systems.

Access full report @ https://www.marketresearchfuture.com/reports/us-europe-industrial-services-market-21306

Segment Analysis

The US & Europe Industrial Services market has been segmented based on Service Type, Application Area, and Industry Vertical.

Based on service type, the US & Europe industrial services market is bifurcated into engineering and consulting, installation and commissioning, calibration services, GXP-services, operational improvement and maintenance and others. The engineering and consulting is the dominating segment since industrial operations becoming more complex and companies require specialized expertise to manage and maintain their equipment and systems. Complex industrial operations are prone to various risks, including equipment failure, safety hazards, and environmental concerns. Industrial engineering and consulting providers can help mitigate these risks by implementing preventive maintenance programs, conducting risk assessments, and providing maintenance and repair services. By addressing potential risks proactively, companies can minimize the impact of unexpected failures and accidents. The industrial engineering and consulting is an essential service for any business as it can not only help to improve the efficiency and quality of products/services, but also help to develop the required infrastructure needed for any manufacturing processes.

Based on application area, the US & Europe industrial services market is bifurcated into distributed control system, programmable logic controller, supervisory control and data acquisition, electric motors and drives, valves and actuators, human machine interface, manufacturing execution system, safety systems, industrial pc, industrial robotics and others. Distributed Control System (DCS) dominates the segment with a share of 14.7%. Distributed control systems are particularly necessary in very large manufacturing operations where thousands of control loops need to be monitored in real-time. The DCS enables applications such as production scheduling, preventative maintenance scheduling, and information exchange.

Based on industry vertical, the US & Europe industrial services market is bifurcated into oil and gas, healthcare and pharmaceuticals, automotive, water and wastewater, chemicals, food and beverages, energy and power, semiconductor and electronics, paper and pulp, metals and mining, aerospace and others. Automotive dominates the segment with a share of 14.8%. Various types of testing like structural maintenance, component calibration, material composition testing, and engineering & consulting services are growing. Industrial services have generally increased the efficiency and productivity for various automotive players by reducing the cost and delivery times, managing and controlling supply chain at each manufacturing stage, improving the product and parts sales. Predictive technologies continue to be a growing trend in automotive manufacturing since it digitally transforms the way automotive industry operates by overcoming operational challenges

Regional Analysis

By Region, the study provides market insights into US & Europe. Europe accounted for ~ 65.3% Industrial Services market in 2022. Europe is likely to be the largest contributor to the Industrial Services market. This includes the Germany, UK, France, Italy, Spain, Denmark, Sweden, Norway, Poland, Austria, Switzerland and Rest of Europe. Europe has been at the forefront of adoption of advanced technologies, such as IoT, automation and Industry 4.0. This has led to increased demand for service related to implementing and maintain these technologies in industrial settings. Increased collaboration across industries has created opportunities for service providers offering solutions that caters to multiple sectors, promoting efficiency and knowledge sharing. The aging infrastructure of some of the European industries has led to a focus on maintenance & optimization services, ensuring the reliability and longevity of existing assets.

Key Findings of the Study

• The US & Europe Industrial Services market is expected to reach USD 40,308.8 million by 2032, at a CAGR of 8.3% during the forecast period.


• The Europe region accounted for the fastest-growing market


• ABB Ltd., Rockwell Automation Inc., Siemens AG, Honeywell International Inc., Schneider Electric SE, Emerson Electric Company, General Electric (GE) Company, Altrad, Horvath, Micro Precision, Leadec Holding BV & Co. KG and Process Sensing Technologies (PST) are some of the players in the market.