PUBLISHER: The Business Research Company | PRODUCT CODE: 1680396
PUBLISHER: The Business Research Company | PRODUCT CODE: 1680396
Commercial and industrial machinery and equipment repair and maintenance involve the processes of repairing and maintaining industrial machinery to ensure they operate efficiently and remain in good condition. This includes ongoing maintenance efforts to prevent breakdowns or damage, as well as scheduled upkeep tasks.
The primary types of commercial and industrial machinery and equipment repair and maintenance are categorized into commercial machinery repair and maintenance, and industrial machinery repair and maintenance. Commercial machinery repair and maintenance specifically focus on the upkeep of machinery used in various commercial applications. These applications span across sectors such as agriculture, construction, packaging, food processing, mining, semiconductor manufacturing, and other related industries.
The commercial and industrial machinery and equipment repair and maintenance market research report is one of a series of new reports from The Business Research Company that provides commercial and industrial machinery and equipment repair and maintenance market statistics, including commercial and industrial machinery and equipment repair and maintenance industry global market size, regional shares, competitors with a commercial and industrial machinery and equipment repair and maintenance market share, detailed commercial and industrial machinery and equipment repair and maintenance market segments, market trends and opportunities, and any further data you may need to thrive in the commercial and industrial machinery and equipment repair and maintenance industry. This commercial and industrial machinery and equipment repair and maintenance 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 commercial and industrial machinery and equipment repair and maintenance market size has grown strongly in recent years. It will grow from $352.93 billion in 2024 to $381.41 billion in 2025 at a compound annual growth rate (CAGR) of 8.1%. The growth in the historic period can be attributed to manufacturing sector expansion, asset longevity concerns, regulatory compliance, technological obsolescence mitigation, cost-efficiency and downtime reduction.
The commercial and industrial machinery and equipment repair and maintenance market size is expected to see strong growth in the next few years. It will grow to $505.53 billion in 2029 at a compound annual growth rate (CAGR) of 7.3%. The growth in the forecast period can be attributed to growing industry 4.0 adoption, increasing complexity of machinery, growing sustainability initiatives, global manufacturing resilience, strategic outsourcing. Major trends in the forecast period include emphasis on cybersecurity in equipment maintenance, remote monitoring and maintenance solutions, shift towards performance-based maintenance contracts, application of condition-based monitoring technologies, integration of artificial intelligence (AI) in maintenance planning.
The anticipated growth is primarily attributed to rapid urbanization and increasing economic development, which are expected to drive the commercial and industrial machinery and equipment repair sector in the future. Urbanization, indicating a shift in population from rural to urban areas, is leading to heightened usage of commercial machinery and, consequently, an increase in the need for repairs. As of April 2023, according to the World Bank, 56% of the global population (4.4 billion people) resides in cities, and this trend is projected to persist, with urban populations more than doubling by 2050. Hence, rapid urbanization and rising economic growth are key factors fueling the growth of the commercial and industrial machinery and equipment repair market.
The growth of the commercial and industrial machinery and equipment repair and maintenance market is expected to be driven by the expansion of the industrial and manufacturing sectors in the coming years. The industrial sector encompasses all economic activities related to the production of goods, while the manufacturing sector is a subset focused on producing physical commodities using labor, machines, and technology. As the industrial and manufacturing sectors develop, the demand for machinery repair and maintenance services increases. With rising production capabilities, it becomes crucial to maintain and repair equipment to minimize downtime and maintain operational efficiency. For instance, in December 2023, the Federal Reserve Board of Governors, a US-based governmental body responsible for overseeing the Federal Reserve Banks and aiding in monetary policy implementation, reported a 0.2% increase in industrial output and a 0.3% increase in manufacturing output. This rise in industrial production was more than offset by a 7.1% rebound. Additionally, Eurostat, a Luxembourg-based statistical office of the European Union, noted that in June 2023, seasonally adjusted industrial production rose by 0.5% in the euro area and by 0.4% in the EU compared to May 2023. Therefore, the expansion of the industrial and manufacturing sectors is fueling growth in the commercial and industrial machinery and equipment repair and maintenance market.
A notable trend in the commercial and industrial machinery market is the emergence of strategic collaborations for product innovation. Major companies operating in this market are actively engaging in collaborations to create technologically advanced products, reinforcing their market positions. An example of this trend is the collaboration between The Chemours Company, a US-based chemical company, and Bohn de Mexico, a Mexico-based commercial and industrial refrigeration equipment technology and manufacturing company. The collaboration involves the use of environmentally friendly refrigerants in Bohn de Mexico's new line of BOHN Ecoflex condensing units, aligning with sustainability goals.
Major companies in the commercial and industrial machinery and equipment repair and maintenance market are concentrating on innovative products like digital twin software solutions to gain a competitive advantage. A digital twin software solution is a virtual representation of a physical asset, process, or system that simulates its real-time performance and behavior, facilitating enhanced design, testing, and operational efficiency through predictive analysis and virtual testing prior to physical implementation. Additionally, a maintenance service app is a smartphone application designed to manage and execute maintenance services for various resources, machinery, or facilities. For example, in May 2022, Schneider Electric, a France-based multinational corporation, introduced EcoStruxure Machine Expert Twin. This new software solution from Schneider Electric reduces commissioning time by 60% and shortens time-to-market by 50%, transforming machine design and operations for original equipment manufacturers (OEMs). The software allows for virtual testing and commissioning, thereby improving flexibility, efficiency, and quality.
Major companies operating in the commercial and industrial machinery and equipment repair and maintenance market include Advanced Industrial Services, AIS Companies, ATS Automation Tooling Systems Inc., Brehob Corporation, Burford Corporation, Central States Industrial Equipment & Service Inc., CMS Industrial Services, EMCOR Group Inc., Equipment Service Professionals, Field Service Specialists, Fluor Corporation, GE Aviation, Industrial Service Solutions, JD Machine Corp, Konecranes Inc., KUKA Systems North America, Machinery Maintenance Inc., Maintenance Engineering Inc., McClung-Logan Equipment Company, Melton Machine & Control Company, North American Industrial Services, Northland Industrial Truck Co., Norwest Engineering Co., Praxair Services Inc., Precision Industrial Automation, Quality Millwright Service, Rockwell Automation Inc., Sargent & Lundy LLC, Service & Repair Solutions Inc., W.W. Grainger Inc.
Asia-Pacific was the largest region in the commercial and industrial machinery and equipment repair and maintenance market in 2024. The regions covered in the commercial and industrial machinery and equipment repair and maintenance market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the commercial and industrial machinery and equipment repair and maintenance market report are Australia, China, India, Indonesia, Japan, South Korea, Bangladesh, Thailand, Vietnam, Malaysia, Singapore, Philippines, Hong Kong, New Zealand, USA, Canada, Mexico, Brazil, Chile, Argentina, Colombia, Peru, France, Germany, UK, Austria, Belgium, Denmark, Finland, Ireland, Italy, Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, Russia, Czech Republic, Poland, Romania, Ukraine, Saudi Arabia, Israel, Iran, Turkey, UAE, Egypt, Nigeria, South Africa.
The commercial and industrial machinery and equipment repair and maintenance market includes revenues earned by entities by minimizing costly downtime, and lowering the risk of workplace accidents. 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.
Commercial And Industrial Machinery And Equipment Repair And Maintenance Global Market Report 2025 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 commercial and industrial machinery and equipment repair and maintenance 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.
Where is the largest and fastest growing market for commercial and industrial machinery and equipment repair and maintenance ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The commercial and industrial machinery and equipment repair and maintenance 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.
The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.