Report Description
A recent market
intelligence report that is published by Data Insights Partner on the global Industrial
Service Market makes an offering of in-depth analysis of segments and
sub-segments in the regional and international Industrial Service Market. The
research also emphasizes on the impact of restraints, drivers, and macro
indicators on the regional and global Industrial Service Market over the short
as well as long period of time. A detailed presentation of forecast, trends,
and dollar values of global Industrial Service Market is offered. In accordance
with the report, the global Industrial Service Market is projected to expand at
a CAGR of 6% over the period of forecast.
Market Insight, Drivers, Restraints&
Opportunity of the Market:
Companies that
provide various types of services to industries such as operational
improvement, installation, consulting services, commissioning, maintenance etc.
are known as Industrial services. These types of services are exchanged between
organizations for further simplification for final goods & services.
Organizations
are undertaking initiatives, to deal with intense competition, shifting
business models, innovation, disruptive technology, budget pressures, increased
policies and globalization. With the advancement in technology, the demand for
industrial service market is not only increasing but is also endorsing the
development and innovation of various industrial equipment. There has been a
rise in demand for remote monitoring, predictive maintenance services and
equipment complications to reduce the unexpected downtime, these are factors
which will also increase the demand of industrial services in the coming years.
Also, with deployment of various strategies like service agreements and
contracts, product expansion as well as development is another driver for the
growth of this market. The influence of varying oil prices has boosted the
demand for industrial services. A huge extent of operational productivity in
the oil and gas industry is also acting as a growing sector for this market.
The growth of industrial services has also developed the large multinational
organizations. Due to its consistency of price and quality, and the growing
need of improved asset utilization, the industrial services represent the clear
viable advantage for clients. However, the major factors that may hinder the
growth of Industrial services market in the forecast period is the various
complex compliances across regions and the lack of skilled labor available for
this market.
With the wide
spectrum of services offered in countries like Germany and Switzerland, the
region of Europe is dominating the global industrial service market and has
reported for a leading market share. With an increase in automation services
and adoption of cloud connectivity in countries like India and China, and
increase in use of robotics and process industries in United States, the region
of Asia Pacific and North America are also expected to dominate the industrial
service market in coming years. Key players are deploying various strategies
such as product expansion, product launches, joint ventures, acquisitions,
partnership, and many more to increase their foothold in this highly fragmented
market. In July 2019, Enigma Industrial Services invested 2 million pounds in
HAKI Universal scaffolding for projects in U.K. Also, in July 2019, ASRC
Industrial Services, a premier provider of industrial and environmental
services announced its acquisition of EQM in order to augment its capabilities
and increase its presence in global market.
Segment Covered:
This market
intelligence report on the global Industrial Service Market encompasses market
segments based on product, type, distribution channels and country/regions.
In terms of Type, the global Industrial
Service Market is segregated
into
§ Engineering & Consulting
§ Installation & Commissioning
§ Resource Planning
§ Service Strategies
§ Operational Improvement & Maintenance
§ Others
By application, the global Industrial Service
Market is also
classified into,
§ Distributed Control System
§ Programmable Logic Controller
§ Supervisory Control & Data Acquisition
§ Electric Motors & Drives
§ Valves & Actuators
§ Human Machine Interface
§ Manufacturing Execution System
§ Safety Systems
ü Burner Management System
ü Emergency Shutdown System
ü Fire & Gas Monitoring and Control
ü High-Integrity Pressure Protection System
ü Turbomachinery Control
By Industry, the global Industrial Service
Market is also
classified into,
§ Oil & Gas
§ Chemicals
§ Automotive
§ Pharmaceuticals
§ Metals & Mining
§ Food & Beverages
§ Information Technology
§ Energy & Power
§ Aerospace & Defense
§ Others
ü Pulp & Paper
ü Marine
ü Telecom
ü Transportation
By country/region, the global Industrial Service Market has been divided into
§ North America (the U.S., Canada),
§ Latin America (Brazil, Mexico, Argentina and other
countries),
§ Europe (Germany, France, the U.K., Spain, Italy, Russia,
and other countries),
§ Asia Pacific (India, Japan, China, Australia and New Zealand
and other countries),
§ Middle East and Africa (GCC, South Africa, Israel and
Other countries).
Profiling of Market
Players:
This business
intelligence report offers profiling of reputed companies that are operating in
the market. Companies such as
§ ABB
§ Emerson Electric
§ General Electric
§ Honeywell International Inc.
§ Metso Corporation
§ Rockwell Automation
§ Samson AG
§ Schneider Electric
§ Siemens AG
§ SKF AB
§ Wood Group Mustang
§ Key Innovators
§ ATS Automation
§ Dynamysk Automation Ltd
§ Intech Process Automation
§ Prime Controls LP
§ Wunderlich Malec Engineering and many more
Other players have
been profiled into detail so as to offer a glimpse of the market leaders.
Moreover, parameters such as Industrial Service related investment &
spending and developments by major players of the market are tracked in this
global report.
Report Highlights:
In-depth
analysis of the micro and macro indicators, market trends, and forecasts of
demand is offered by this business intelligence report. Furthermore, the report
offers a vivid picture of the factors that are steering and restraining the
growth of this market across all geographical segments. In addition to that, Growth
Matrix analysis is also provided in the report so as to share insight of the
investment areas that new or existing market players can take into consideration.
Various analytical tools such as DRO analysis, Porter's five forces analysis
has been used in this report to present a clear picture of the market. The
study focuses on the present market trends and provides market forecast from
the year 2020-2028. Emerging trends that would shape the market demand in the
years to come have been highlighted in this report. A competitive analysis in
each of the geographical segments gives an insight into market share of the
global players.
Salient Features:
Ø
This study offers
comprehensive yet detailed analysis of the Industrial Service Market, size of the market (US$ Mn), and Compound Annual Growth
Rate (CAGR (%)) for the period of forecast: 2020 – 2028, taking into account
2019 as the base year
Ø
It explains upcoming
revenue opportunities across various market segments and attractive matrix of
investment proposition for the said market
Ø
This market
intelligence report also offers pivotal insights about various market opportunities,
restraints, drivers, launch of new products, competitive market strategies of
leading market players, emerging market trends, and regional outlook
Ø
Profiling of
key market players in the world Industrial
Service Market is done by
taking into account various parameters such as company strategies, distribution
strategies, product portfolio, financial performance, key developments,
geographical presence, and company overview
Ø
Leading
market players covered this report comprise names such as ABB, Emerson
Electric, General Electric, Honeywell International, Metso Corporation,
Rockwell Automation, Samson AG, Schneider Electric, Siemens AG, SKF, Wood
Group, Key Innovators, ATS Automation and many more.
Ø
The data of
this report would allow management authorities and marketers of companies alike
to take informed decision when it comes to launch of products, government
initiatives, marketing tactics and expansion, and technical up gradation
Ø
The world
market for Industrial
Service Market caters to the needs
of various stakeholders pertaining to this industry, namely suppliers, manufacturers,
investors, and distributors for Industrial
Service Market. The research
also caters to the rising needs of consulting and research firms, financial
analysts, and new market entrants
Ø
Research
methodologies that have been adopted for the purpose of this study have been
clearly elaborated so as to facilitate better understanding of the reports
Ø
Reports have
been made based on the guidelines as mandated by General Data Protection
Regulation
Ø
Ample number
of examples and case studies have been taken into consideration before coming
to a conclusion
Reasons to buy:
v
Identify
opportunities and plan strategies by having a strong understanding of the
investment opportunities in the Industrial Service Market
v
Identification
of key factors driving investment opportunities in the Industrial Service
Market
v
Facilitate decision-making
based on strong historic and forecast data
v
Position
yourself to gain the maximum advantage of the industry’s growth potential
v
Develop
strategies based on the latest regulatory events
v
Identify key
partners and business development avenues
v
Respond to your
competitors’ business structure, strategy and prospects
v
Identify key
strengths and weaknesses of important market participants