Maintenance Services Global Market Report 2024

Description

“Maintenance Services Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on maintenance services market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

Reasons to Purchase

Gain a truly global perspective with the most comprehensive report available on this market covering 50+ geographies.
Understand how the market has been affected by the COVID-19 and how it is responding as the impact of the virus abates.
Assess the Russia - Ukraine war's impact on agriculture, energy and mineral commodity supply and its direct and indirect impact on the market.
Measure the impact of high global inflation on market growth.
Create regional and country strategies on the basis of local data and analysis.
Identify growth segments for investment.
Outperform competitors using forecast data and the drivers and trends shaping the market.
Understand customers based on the latest market shares.
Benchmark performance against key competitors.
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Report will be updated with the latest data and delivered to you within 3-5 working days of order along with an Excel data sheet for easy data extraction and analysis.
All data from the report will also be delivered in an excel dashboard format.

Where is the largest and fastest growing market for maintenance services? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The maintenance services market global report ” from The Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

Scope

Markets Covered:

1) By Service Type: Inspection; Maintenance; Repair
2) By Type: Offshore Support Vessels; AUVs Or ROVs; Others
3) By Location: Offshore; Onshore
4) By Application: Oil And Gas; Renewable; Marine; Power Generation; Infrastructures; Manufacturing; Others
Companies Mentioned: Fugro NV; TechnipFMC plc; Petrofac Ltd.; Baker Hughes Company; James Fisher and Sons plc
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Delivery format: PDF, Word and Excel Data Dashboard.

Executive Summary

Maintenance service is a provision aimed at maintaining a product and its associated services in optimal working condition. The primary goal of maintenance service is to ensure that all machinery related to production and general maintenance services functions at peak efficiency.

The primary types of maintenance services include inspection, maintenance, and repair. Inspection involves the process of closely observing, scrutinizing, or critically analyzing something to enhance or emphasize specific aspects. This can be applied to various types such as offshore support vessels, AUVs or ROVs, and others in both offshore and onshore locations. These services find applications in sectors such as oil and gas, renewable energy, marine, power generation, infrastructure, manufacturing, and other relevant industries.

The maintenance services market research report is one of a series of new reports from The Business Research Company that provides maintenance services market statistics, including maintenance services industry global market size, regional shares, competitors with a maintenance services market share, detailed maintenance services market segments, market trends and opportunities, and any further data you may need to thrive in the maintenance services industry. This maintenance services market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The maintenance services market size has grown rapidly in recent years. It will grow from $71.87 billion in 2023 to $80.06 billion in 2024 at a compound annual growth rate (CAGR) of 11.4%. The growth observed during the historic period can be attributed to factors such as real estate and property development, the establishment of industrial and manufacturing facilities, infrastructure development, government regulations, and the implementation of preventive maintenance practices.

The maintenance services market size is expected to see rapid growth in the next few years. It will grow to $122.32 billion in 2028 at a compound annual growth rate (CAGR) of 11.2%. The anticipated growth in the forecast period can be attributed to an increased focus on sustainability, the integration of technology in maintenance practices, the challenges posed by aging infrastructure, global trends in urbanization, and the outsourcing of maintenance functions. Major trends expected in the forecast period include the incorporation of the Internet of Things (IoT), compliance with regulatory standards, the adoption of customized maintenance contracts, a focus on reliability-centered maintenance (RCM), and the implementation of energy management services.

The maintenance services market is anticipated to experience growth driven by the increasing demand for renewable energy. Renewable energy sources, known for their sustainability and ability to generate clean energy continuously, require specialized maintenance and repair services. This need extends to various renewable energy sectors, including hydroelectricity, wind power, and solar power. According to a December 2021 report from the International Energy Agency (IEA), nearly 95% of the projected global power capacity growth until 2026 is expected to come from renewables, with solar photovoltaic (PV) accounting for more than half of this expansion. The anticipated growth in renewable capacity during the 2021-2026 period is forecasted to be 50% higher than the growth observed from 2015 to 2020. Consequently, the increasing demand for renewable energy is a significant driver propelling the growth of the maintenance services market.

The growth of the maintenance service market is expected to be further fueled by the rising construction industry. The construction sector, encompassing a wide range of activities related to planning, designing, and implementing structures and infrastructure, generates a continuous demand for maintenance services. This symbiotic relationship ensures the longevity and efficiency of constructed entities. A February 2022 report from the Office for National Statistics (ONS) revealed a record 12.7% annual rise in the UK construction sector in 2021 compared to the previous year. In December 2021, monthly construction output volume increased by 2.0%, driven by a rise in new work (3.5%). The quarterly production of the construction industry also rose by 1.0% in Q4 2021 compared to Q3, propelled by both new work (1.1%) and repair and maintenance (0.8%). Therefore, the expanding construction industry contributes significantly to the growth of the maintenance service market.

Technological advancements are a prominent trend in the maintenance services market, with major companies leveraging innovation to strengthen their market positions. In May 2022, MAG Lifestyle Development, a UAE-based property developer, introduced MAG FM, a home maintenance tracking app. This app utilizes a smart technology platform, allowing residents to pay for services online and access a variety of home maintenance packages. It is designed to provide convenient online services for MAG-5 residents.

Major players in the maintenance service market are also focusing on technological innovations such as elevator maintenance services to cater to broader customer bases, increase sales, and boost revenue. Elevator maintenance services involve professional upkeep and regular inspection of elevators and escalators to ensure safe and efficient operation. In June 2023, Hyundai Elevator Co Ltd, a South Korea-based elevator manufacturer, launched Miri, an advanced elevator maintenance service. Miri integrates technologies such as the Internet of Things (IoT), artificial intelligence (AI), big data, and robotics to substantially reduce downtime caused by elevator failures. It offers features such as component lifespan measurement models, fault detection and classification services, pre-detection alarm services, and dedicated IoT gateways, enabling proactive and efficient elevator maintenance. Miri has the potential to reduce operational shutdowns by up to 43%.

In May 2021, Cambridge Maintenance Services (CMS), a UK-based maintenance services provider, acquired Acorn Engineering Group for an undisclosed amount. This strategic acquisition allows the two companies to combine their resources, capacities, and skills in the maintenance services sector. Acorn Engineering Group is a UK-based company specializing in building maintenance services.

Major companies operating in the maintenance services market report are Fugro NV, TechnipFMC plc, Petrofac Ltd., Baker Hughes Company, James Fisher and Sons plc, Bluestream Offshore BV, SeaTec UK Ltd., Royal Boskalis Westminster NV, Schlumberger Limited (SLB), Aker Solutions ASA, Oceaneering International Inc., Starke Marine Sdn Bhd, Sinovoltaics Group Limited, Sapura Energy Berhad, FLIR Systems Inc., MISTRAS Group Inc., CBRE Group Inc., Jones Lang LaSalle Incorporated, ISS A/S, ENGIE Services Inc., Cushman & Wakefield plc, Aramark Facility Services LLC, Compass Group plc, Sodexo Group, Mitie Group plc, Johnson Controls International plc, FacilitySource, G4S plc, ABM Industries Incorporated, Worley Limited, Wood plc .

Asia-Pacific was the largest region in the maintenance services market in 2023. The regions covered in the maintenance services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

The countries covered in the maintenance services market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The maintenance services market includes revenues earned by entities through preventive maintenance, emergency repairs, routine servicing, component testing, and building mechanical and electrical systems. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

Product Code: r11121

1. Executive Summary

2. Maintenance Services Market Characteristics

3. Maintenance Services Market Trends And Strategies

4. Maintenance Services Market - Macro Economic Scenario

4.1. Impact Of High Inflation On the Market
4.2. Ukraine-Russia War Impact On the Market
4.3. COVID-19 Impact On the Market

5. Global Maintenance Services Market Size and Growth

5.1. Global Maintenance Services Market Drivers and Restraints
- 5.1.1. Drivers Of The Market
- 5.1.2. Restraints Of The Market
5.2. Global Maintenance Services Historic Market Size and Growth, 2018 - 2023, Value ($ Billion)
5.3. Global Maintenance Services Forecast Market Size and Growth, 2023 - 2028, 2033F, Value ($ Billion)

6. Maintenance Services Market Segmentation

6.1. Global Maintenance Services Market, Segmentation By Service Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Inspection
Maintenance
Repair
6.2. Global Maintenance Services Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Offshore Support Vessels
AUVs Or ROVs
Others
6.3. Global Maintenance Services Market, Segmentation By Location , Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Offshore
Onshore
6.4. Global Maintenance Services Market, Segmentation By Application , Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Oil And Gas
Renewable
Marine
Power Generation
Infrastructures
Manufacturing
Others

7. Maintenance Services Market Regional And Country Analysis

7.1. Global Maintenance Services Market, Split By Region, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
7.2. Global Maintenance Services Market, Split By Country, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

8. Asia-Pacific Maintenance Services Market

8.1. Asia-Pacific Maintenance Services Market Overview
Region Information, Impact Of COVID-19, Market Information, Background Information, Government Initiatives, Regulations, Regulatory Bodies, Major Associations, Taxes Levied, Corporate Tax Structure, Investments, Major Companies
8.2. Asia-Pacific Maintenance Services Market, Segmentation By Service Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8.3. Asia-Pacific Maintenance Services Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8.4. Asia-Pacific Maintenance Services Market, Segmentation By Application , Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

9. China Maintenance Services Market

9.1. China Maintenance Services Market Overview
9.2. China Maintenance Services Market, Segmentation By Service Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
9.3. China Maintenance Services Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
9.4. China Maintenance Services Market, Segmentation By Application , Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion

10. India Maintenance Services Market

10.1. India Maintenance Services Market, Segmentation By Service Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10.2. India Maintenance Services Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10.3. India Maintenance Services Market, Segmentation By Application , Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

11. Japan Maintenance Services Market

11.1. Japan Maintenance Services Market Overview
11.2. Japan Maintenance Services Market, Segmentation By Service Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.3. Japan Maintenance Services Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.4. Japan Maintenance Services Market, Segmentation By Application , Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

12. Australia Maintenance Services Market

12.1. Australia Maintenance Services Market, Segmentation By Service Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.2. Australia Maintenance Services Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.3. Australia Maintenance Services Market, Segmentation By Application , Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

13. Indonesia Maintenance Services Market

13.1. Indonesia Maintenance Services Market, Segmentation By Service Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.2. Indonesia Maintenance Services Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.3. Indonesia Maintenance Services Market, Segmentation By Application , Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

14. South Korea Maintenance Services Market

14.1. South Korea Maintenance Services Market Overview
14.2. South Korea Maintenance Services Market, Segmentation By Service Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.3. South Korea Maintenance Services Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.4. South Korea Maintenance Services Market, Segmentation By Application , Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

15. Western Europe Maintenance Services Market

15.1. Western Europe Maintenance Services Market Overview
15.2. Western Europe Maintenance Services Market, Segmentation By Service Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15.3. Western Europe Maintenance Services Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15.4. Western Europe Maintenance Services Market, Segmentation By Application , Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

16. UK Maintenance Services Market

16.1. UK Maintenance Services Market, Segmentation By Service Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16.2. UK Maintenance Services Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16.3. UK Maintenance Services Market, Segmentation By Application , Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

17. Germany Maintenance Services Market

17.1. Germany Maintenance Services Market, Segmentation By Service Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17.2. Germany Maintenance Services Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17.3. Germany Maintenance Services Market, Segmentation By Application , Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

18. France Maintenance Services Market

18.1. France Maintenance Services Market, Segmentation By Service Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18.2. France Maintenance Services Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18.3. France Maintenance Services Market, Segmentation By Application , Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

19. Italy Maintenance Services Market

19.1. Italy Maintenance Services Market, Segmentation By Service Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19.2. Italy Maintenance Services Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19.3. Italy Maintenance Services Market, Segmentation By Application , Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

20. Spain Maintenance Services Market

20.1. Spain Maintenance Services Market, Segmentation By Service Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20.2. Spain Maintenance Services Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20.3. Spain Maintenance Services Market, Segmentation By Application , Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

21. Eastern Europe Maintenance Services Market

21.1. Eastern Europe Maintenance Services Market Overview
21.2. Eastern Europe Maintenance Services Market, Segmentation By Service Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21.3. Eastern Europe Maintenance Services Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21.4. Eastern Europe Maintenance Services Market, Segmentation By Application , Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

22. Russia Maintenance Services Market

22.1. Russia Maintenance Services Market, Segmentation By Service Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22.2. Russia Maintenance Services Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22.3. Russia Maintenance Services Market, Segmentation By Application , Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

23. North America Maintenance Services Market

23.1. North America Maintenance Services Market Overview
23.2. North America Maintenance Services Market, Segmentation By Service Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23.3. North America Maintenance Services Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23.4. North America Maintenance Services Market, Segmentation By Application , Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

24. USA Maintenance Services Market

24.1. USA Maintenance Services Market Overview
24.2. USA Maintenance Services Market, Segmentation By Service Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24.3. USA Maintenance Services Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24.4. USA Maintenance Services Market, Segmentation By Application , Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

25. Canada Maintenance Services Market

25.1. Canada Maintenance Services Market Overview
25.2. Canada Maintenance Services Market, Segmentation By Service Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25.3. Canada Maintenance Services Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25.4. Canada Maintenance Services Market, Segmentation By Application , Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

26. South America Maintenance Services Market

26.1. South America Maintenance Services Market Overview
26.2. South America Maintenance Services Market, Segmentation By Service Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26.3. South America Maintenance Services Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26.4. South America Maintenance Services Market, Segmentation By Application , Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

27. Brazil Maintenance Services Market

27.1. Brazil Maintenance Services Market, Segmentation By Service Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.2. Brazil Maintenance Services Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.3. Brazil Maintenance Services Market, Segmentation By Application , Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

28. Middle East Maintenance Services Market

28.1. Middle East Maintenance Services Market Overview
28.2. Middle East Maintenance Services Market, Segmentation By Service Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28.3. Middle East Maintenance Services Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28.4. Middle East Maintenance Services Market, Segmentation By Application , Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

29. Africa Maintenance Services Market

29.1. Africa Maintenance Services Market Overview
29.2. Africa Maintenance Services Market, Segmentation By Service Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29.3. Africa Maintenance Services Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29.4. Africa Maintenance Services Market, Segmentation By Application , Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

30. Maintenance Services Market Competitive Landscape And Company Profiles

30.1. Maintenance Services Market Competitive Landscape
30.2. Maintenance Services Market Company Profiles
- 30.2.1. Fugro NV
  - 30.2.1.1. Overview
  - 30.2.1.2. Products and Services
  - 30.2.1.3. Strategy
  - 30.2.1.4. Financial Performance
- 30.2.2. TechnipFMC plc
  - 30.2.2.1. Overview
  - 30.2.2.2. Products and Services
  - 30.2.2.3. Strategy
  - 30.2.2.4. Financial Performance
- 30.2.3. Petrofac Ltd.
  - 30.2.3.1. Overview
  - 30.2.3.2. Products and Services
  - 30.2.3.3. Strategy
  - 30.2.3.4. Financial Performance
- 30.2.4. Baker Hughes Company
  - 30.2.4.1. Overview
  - 30.2.4.2. Products and Services
  - 30.2.4.3. Strategy
  - 30.2.4.4. Financial Performance
- 30.2.5. James Fisher and Sons plc
  - 30.2.5.1. Overview
  - 30.2.5.2. Products and Services
  - 30.2.5.3. Strategy
  - 30.2.5.4. Financial Performance

31. Global Maintenance Services Market Competitive Benchmarking

32. Global Maintenance Services Market Competitive Dashboard

33. Key Mergers And Acquisitions In The Maintenance Services Market

34. Maintenance Services Market Future Outlook and Potential Analysis

34.1 Maintenance Services Market In 2028 - Countries Offering Most New Opportunities
34.2 Maintenance Services Market In 2028 - Segments Offering Most New Opportunities
34.3 Maintenance Services Market In 2028 - Growth Strategies
- 34.3.1 Market Trend Based Strategies
- 34.3.2 Competitor Strategies

35. Appendix

35.1. Abbreviations
35.2. Currencies
35.3. Historic And Forecast Inflation Rates
35.4. Research Inquiries
35.5. The Business Research Company
35.6. Copyright And Disclaimer