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Industrial Maintenance Services Market Growth Forecast: What To Expect By 2025?
In recent times, the industrial maintenance services market has witnessed substantial growth. The market size is projected to increase from $54.47 billion in 2024 to $57.59 billion in 2025, recording a compound annual growth rate (CAGR) of 5.7%. The historic expansion of this market is linked to the progress of the oil and gas industry, increased demand for maintenance services, economic development, and urbanization trends.

There is anticipated rapid growth for the industrial maintenance services market in the upcoming years, with projections stating it will reach $73.19 billion by 2029, with a compound annual growth rate (CAGR) of 6.2%. Factors contributing to this growth during the forecast period include the increasing use of predictive maintenance and remote monitoring, the escalating need for secure, economical, and dependable infrastructure connectivity, demand for specialized services, and concerns surrounding aging infrastructure, with an emphasis on preventive maintenance. Noteworthy trends for the forecast period comprise the uptake of Industry 4.0, expansion in the aerospace and defense industry, AI integration, mergers and acquisitions, and technological advancements.

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What Are Key Factors Driving The Demand In The Global Industrial Maintenance Services Market?
The industrial maintenance services market is projected to grow due to the escalating aerospace sector. The aerospace industry encompasses firms that offer modifications or conversions, repairs, part replacements, and comprehensive overhauls and rebuilds of commercial aircraft. Companies in this sector produce various types of aircraft, including gliders, helicopters, drones, ultra-light aircraft, passenger aircraft, and private jets. Maintenance services offered by companies in the aerospace sector serve as primary support for corporate, commercial, and military aircraft. In September 2023, the Airspace Industries Association (AIA), a US-based trade association, stated that the aerospace and defense (A&D) industry had achieved $952 billion in combined sales in 2022, registering a 6.7 percent increase from 2021. Concurrently, exports from the A&D sector increased by 4.4 percent, amounting to $104.8 billion, according to the same report. Consequently, the growth of the aerospace sector is fuelling the expansion of the industrial maintenance services market.

Who Are The Leading Players In The Industrial Maintenance Services Market?
Major players in the Industrial Maintenance Services include:
. Siemens AG
. Honeywell International Inc.
. Mitsubishi Heavy Industries Ltd.
. Asea Brown Boveri Ltd.
. Johnson Controls International plc
. Baker Hughes Company
. Emerson Electric Co.
. Parker-Hannifin Corporation
. Atlas Copco AB
. SKF Group

What Are The Top Trends In The Industrial Maintenance Services Industry?
Product modification represents a fundamental trend in the industrial maintenance service market. The principal firms in this industry are emphasizing on formulating innovative strategies to consolidate their market presence. For example, in May 2022, Valmet, a Finnish firm that supplies technologies, automation systems, and services in the pulp, paper, and energy fields, launched the Valmet Mobile Maintenance (VMM) scheme. This program was designed to refine mill maintenance operations and facilitate real-time accessibility of maintenance data. Compatible with both iOS and Android platforms, VMM aims to augment the efficiency of production and maintenance operators. It allows them to save precious time and boost efficiency by issuing defect alerts and monitoring ongoing work orders.

Analysis Of Major Segments Driving The Industrial Maintenance Services Market Growth
The industrial maintenance servicesmarket covered in this report is segmented –
1) By Service: Repair, Inspection, Maintenance
2) By Location: On Shore, Off Shore
3) By End-User: Oil And Gas, Industry, Power Generation, Other End-User

Subsegments:
1) By Repair: Equipment Repair, Machinery Repair, System Repair
2) By Inspection: Routine Inspections, Condition Monitoring, Safety Inspections
3) By Maintenance: Preventive Maintenance, Predictive Maintenance, Corrective Maintenance

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Which Region Is Expected To Lead The Industrial Maintenance Services Market By 2025?
In 2024, Asia-Pacific held the highest market share in the industrial maintenance services sector. The market report for industrial maintenance services encompasses regions including Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

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