Analysts at DBMR, influenced by the potential, have published a report on the Industrial Services Market. As per the report, government support, rising consumption of Industrial Services , and enhanced purchasing capacity of consumers are characterizing the Industrial Services market is expected to grow at a CAGR of xx% over the forecast timeframe 2019-2026.
Global industrial services market is expected to register a substantial CAGR of 6.10% in the forecast period of 2019-2026. The report contains data from the base year of 2018 and the historic year of 2017
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Market Definition: Global Industrial Services Market
Industrial Services are the services that companies provide for the industries as needed. This contains installation and commissioning, engineering and consulting services as well as operational improvement and maintenance. These types of services are traded between organizations for further facilitation of final goods or services.
Top Manufacturers Covered in the Report:
Few of the major competitors currently working in the global industrial services market are GENERAL ELECTRIC, Metso Corporation, Siemens, John Wood Group PLC, Honeywell International Inc, ABB, Emerson Electric Co., Rockwell Automation, Inc., Samson AG, Schneider Electric, ATS Automation Tooling Systems Inc., INTECH Process Automation Inc, SKF, Dynamysk Automation Ltd., Wunderlich-Malec Engineering, Inc., Yaskawa America, Inc., Fuji Electric Co., Ltd., ICONICS, Inc., Mitsubishi Electric Corporation and others.
Key Developments in the Market
- In July 2019, £2 million was invested in HAKI Universal scaffolding by Enigma Industrial Services for large-scale projects across the UK. Asset management director, Alan Scott predicted the growth of his company and promising commitment to their clients.
- In July 2019, ASRC Industrial Services (AIS) announced the acquisition of Environmental Quality Management (EQM). AIS is a premier provider of industrial and environmental services throughout the United States. This acquisition enhances its capabilities and increases the presence in key market
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- Rise in demand for predictive maintenance services is driving this market
- Rise in increasing equipment complexity is helping in the growth of this market
- The deployment of strategies like service contracts and agreements, product developments and expansions are fueling to market growth
- The impact of fluctuating oil prices has increased the demand for industrial services which is driving this market
- Varying compliances across regions is affecting the growth of market
- Less number of skilled personnel hinders the growth of the market
Regional analysis for Industrial Services Market includes:
- North America
- Latin America
- Asia Pacific & Japan
- The Middle East and Africa
Key Questions Related to the Industrial Services Market Addressed in the Report
- What are the growth prospects of the Industrial Services Market over the forecast period?
- How are the market players operating in the Industrial Services Market adapting to the evolving regulatory framework?
- What are the leading market players operating in the current Industrial Services Market landscape?
- Which region is expected to dominate the global Industrial Services Market in terms of share, size, and value?
- What are the strategies adopted by upcoming market players to solidify their market presence?
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