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Industrial Services Market by End-user and Geography - Forecast and Analysis 2022-2026

  • Published: May 2022
  • Pages: 151
  • SKU: IRTNTR73391
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The industrial services market share is expected to increase by USD 11.37 billion from 2021 to 2026,  at an accelerating CAGR of 5.29%.

The industrial services market has been broadly categorized into the following demographic segmentations: 

  • End-user - Oil and gas, chemicals, aerospace, automotive, and others
  • Geography - APAC, North America, Europe, South America, and Middle East and Africa

The industrial services market report offers information on several market vendors, including ABB Ltd., AB SKF, Bilfinger SE, Eaton Corp. Plc, EMCOR Group Inc., Emerson Electric Co., General Electric Co., Honeywell International Inc., INTECH Process Automation Inc., John Wood Group PLC, Leadec Holding BV and Co. KG, Metso Outotec Corp., Mitsubishi Electric Corp., Rockwell Automation Inc., SAMSON Controls Inc., Schneider Electric SE, Siemens AG, United States Environmental Services LLC, Worley Ltd., and Yokogawa Electric Corp. among others.

One of the key highlights of the industrial services market research report is the post COVID-19 impact analysis on the market, which will help companies evaluate their business approaches for the forecast period.

What will the Industrial Services Market Size be During the Forecast Period?

Industrial Services Market Size

Download the Free Report Sample to Unlock the Industrial Services Market Size for the Forecast Period and Other Important Statistics

 

Industrial Services Market: Key Drivers, Trends, and Challenges

The lack of technical expertise is notably driving the industrial services market growth, although factors such as lack of end-to-end quality and process control may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the industrial services industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Industrial Services Market Driver

  • The lack of technical expertise is one of the key drivers supporting the industrial services market growth.
  • The lack of technical knowledge often deters end-users from adopting automation systems and leads to operation inefficiencies, as they consider the downtime required for maintenance tasks as a considerable loss in terms of capital.
  • Vendors offering industrial services such as engineering and consulting, operational improvement, and maintenance have overcome the challenges by providing 24/7 remote support and solutions through cloud monitoring and other enhanced services.
  • Significantly, to gain a competitive advantage in the market, vendors need to increasingly adopt online and offline training and consultation methods to ensure that end-users are familiar with their technologies. These factors increase the revenue of industrial service providers, especially small and medium-sized enterprises (SMEs) and thereby driving the industrial services market growth.

Key Industrial Services Market Trend

  • Increasing focus on predictive maintenance is one of the key industrial services market trends contributing to the market growth.
  • The demand for IoT-enabled devices has increased, primarily due to the need for data collection and analysis to solve complex maintenance-related tasks.
  • IoT-enabled devices are particularly useful in industries that use a substantial number of automation control solutions and instruments in their operations. Therefore, the monitoring of these automation systems and instruments becomes a prime task for industrial operators.
  • Automation solution providers are focusing on aftersales services and software for plant and asset lifecycle management, as the suites that they offer help in carrying out predictive maintenance activities without affecting the manufacturing and other processes.
  • Therefore, owing to these factors, demand for predictive maintenance is going to increase, which, in turn, is expected to have a positive impact on the growth of the global industrial services market during the forecast period.

Key Industrial Services Market Challenge

  • Lack of end-to-end quality and process control is one of the challenges hampering the industrial services market growth.
  • Industrial services, such as engineering services, may comprise the management, implementation, and maintenance of important business functions, applications, and data.
  • Low-quality products may eventually lead to the infringement of the rights of concerned stakeholders, including customers of the buyers or end-users in the market.
  • Due to the increasing complexity and size of modern projects, manufacturers and OEMs are increasingly relinquishing many of their tasks and responsibilities to providers of engineering services. However, a lack of end-to-end quality and process control will hinder the industrial services market growth during the forecast period.

This industrial services market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Parent Market Analysis

Technavio categorizes the global industrial services market as a part of the global diversified support services market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the industrial services market during the forecast period.

Who are the Major Industrial Services Market Vendors?

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

 

  • ABB Ltd.
  • AB SKF
  • Bilfinger SE
  • Eaton Corp. Plc
  • EMCOR Group Inc.
  • Emerson Electric Co.
  • General Electric Co.
  • Honeywell International Inc.
  • INTECH Process Automation Inc.
  • John Wood Group PLC
  • Leadec Holding BV and Co. KG
  • Metso Outotec Corp.
  • Mitsubishi Electric Corp.
  • Rockwell Automation Inc.
  • SAMSON Controls Inc.
  • Schneider Electric SE
  • Siemens AG
  • United States Environmental Services LLC
  • Worley Ltd.
  • Yokogawa Electric Corp.

 

This statistical study of the industrial services market encompasses successful business strategies deployed by the key vendors. The industrial services market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.

Product Insights and News

  • Global.abb - The company offers a wide range of industrial services such as process automation services for cement, chemical, food and beverage, life science, and marine industries.
  • Emerson.com - The company offers a wide range of industrial services such as automation services, consulting, and training.
  • Ge.com - The company offers industrial services such as Proficy operation hub, Proficy smart factory, Proficy Csense.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The industrial services market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Industrial Services Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the industrial services market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

Which are the Key Regions for Industrial Services Market?

Industrial Services Market Market segmentation by region

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38% of the market's growth will originate from APAC during the forecast period. China, Japan, and India are the key markets for the industrial services market in APAC. Market growth in this region will be slower than the growth of the market in Middle East and Africa.

A growing preference for industrial services to simplify complex production processes and improve operational efficiency will facilitate the industrial services market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

In 2020, the industrial services market in APAC faced certain challenges due to the outbreak of COVID-19.  However, the market was expected to regain momentum by the end of 2020 once industrial units returned to full normalcy. Many countries in the region announced economic stimulus packages to bail out their economies from the negative impact of the pandemic. Such relief packages will boost the industrial services market growth during the forecast period.

What are the Revenue-generating End-user Segments in the Industrial Services Market?

Industrial Services Market Segmentation

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The industrial services market share growth by the oil and gas segment will be significant during the forecast period. The demand for industrial services is expected to increase as companies operating in the oil and gas segment are facing challenges of frequent fluctuations in global oil prices. In the oil and gas industry, there is an immense need for optimizing operational efficiency. This, in turn, is expected to increase the demand for industrial services in the oil and gas segment during the forecast period and thereby driving the industrial services market growth.

This report provides an accurate prediction of the contribution of all the segments to the growth of the industrial services market size and actionable market insights on post COVID-19 impact on each segment.

 

Industrial Services Market Scope

Report Coverage

Details

Page number

120

Base year

2021

Forecast period

2022-2026

Growth momentum & CAGR

Decelerate at a CAGR of 5.29%

Market growth 2022-2026

$ 11.37 billion

Market structure

Fragmented

YoY growth (%)

5.88

Regional analysis

APAC, North America, Europe, South America, and Middle East and Africa

Performing market contribution

APAC at 38%

Key consumer countries

US, China, Japan, India, and Germany

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

ABB Ltd., AB SKF, Bilfinger SE, Eaton Corp. Plc, EMCOR Group Inc., Emerson Electric Co., General Electric Co., Honeywell International Inc., INTECH Process Automation Inc., John Wood Group PLC, Leadec Holding BV and Co. KG, Metso Outotec Corp., Mitsubishi Electric Corp., Rockwell Automation Inc., SAMSON Controls Inc., Schneider Electric SE, Siemens AG, United States Environmental Services LLC, Worley Ltd., and Yokogawa Electric Corp.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period

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What are the Key Data Covered in this Industrial Services Market Report?

  • CAGR of the market during the forecast period 2022-2026
  • Detailed information on factors that will drive industrial services market growth during the next five years
  • Precise estimation of the industrial services market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the industrial services industry across APAC, North America, Europe, South America, and Middle East and Africa
  • A thorough analysis of the market's competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of industrial services market vendors

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1 Executive Summary

  • 1.1 Market overview
    • Exhibit 01: Executive Summary – Chart on Market Overview
    • Exhibit 02: Executive Summary – Data Table on Market Overview
    • Exhibit 03: Executive Summary – Chart on Global Market Characteristics
    • Exhibit 04: Executive Summary – Chart on Market by Geography
    • Exhibit 05: Executive Summary – Chart on Market Segmentation by End-user
    • Exhibit 06: Executive Summary – Chart on Incremental Growth
    • Exhibit 07: Executive Summary – Data Table on Incremental Growth
    • Exhibit 08: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 09: Parent market
    • Exhibit 10: Market Characteristics

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 11: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 12: Market segments
  • 3.3 Market size 2021
    • 3.4 Market outlook: Forecast for 2021-2026
      • Exhibit 13: Chart on Global - Market size and forecast 2021-2026 ($ million)
      • Exhibit 14: Data Table on Global - Market size and forecast 2021-2026 ($ million)
      • Exhibit 15: Chart on Global Market: Year-over-year growth 2021-2026 (%)
      • Exhibit 16: Data Table on Global Market: Year-over-year growth 2021-2026 (%)

    4 Five Forces Analysis

    • 4.1 Five forces summary
      • Exhibit 17: Five forces analysis - Comparison between2021 and 2026
    • 4.2 Bargaining power of buyers
      • Exhibit 18: Chart on Bargaining power of buyers – Impact of key factors 2021 and 2026
    • 4.3 Bargaining power of suppliers
      • Exhibit 19: Bargaining power of suppliers – Impact of key factors in 2021 and 2026
    • 4.4 Threat of new entrants
      • Exhibit 20: Threat of new entrants – Impact of key factors in 2021 and 2026
    • 4.5 Threat of substitutes
      • Exhibit 21: Threat of substitutes – Impact of key factors in 2021 and 2026
    • 4.6 Threat of rivalry
      • Exhibit 22: Threat of rivalry – Impact of key factors in 2021 and 2026
    • 4.7 Market condition
      • Exhibit 23: Chart on Market condition - Five forces 2021 and 2026

    5 Market Segmentation by End-user

    • 5.1 Market segments
      • Exhibit 24: Chart on End-user - Market share 2021-2026 (%)
      • Exhibit 25: Data Table on End-user - Market share 2021-2026 (%)
    • 5.2 Comparison by End-user
      • Exhibit 26: Chart on Comparison by End-user
      • Exhibit 27: Data Table on Comparison by End-user
    • 5.3 Oil and gas - Market size and forecast 2021-2026
      • Exhibit 28: Chart on Oil and gas - Market size and forecast 2021-2026 ($ million)
      • Exhibit 29: Data Table on Oil and gas - Market size and forecast 2021-2026 ($ million)
      • Exhibit 30: Chart on Oil and gas - Year-over-year growth 2021-2026 (%)
      • Exhibit 31: Data Table on Oil and gas - Year-over-year growth 2021-2026 (%)
    • 5.4 Chemicals - Market size and forecast 2021-2026
      • Exhibit 32: Chart on Chemicals - Market size and forecast 2021-2026 ($ million)
      • Exhibit 33: Data Table on Chemicals - Market size and forecast 2021-2026 ($ million)
      • Exhibit 34: Chart on Chemicals - Year-over-year growth 2021-2026 (%)
      • Exhibit 35: Data Table on Chemicals - Year-over-year growth 2021-2026 (%)
    • 5.5 Aerospace - Market size and forecast 2021-2026
      • Exhibit 36: Chart on Aerospace - Market size and forecast 2021-2026 ($ million)
      • Exhibit 37: Data Table on Aerospace - Market size and forecast 2021-2026 ($ million)
      • Exhibit 38: Chart on Aerospace - Year-over-year growth 2021-2026 (%)
      • Exhibit 39: Data Table on Aerospace - Year-over-year growth 2021-2026 (%)
    • 5.6 Automotive - Market size and forecast 2021-2026
      • Exhibit 40: Chart on Automotive - Market size and forecast 2021-2026 ($ million)
      • Exhibit 41: Data Table on Automotive - Market size and forecast 2021-2026 ($ million)
      • Exhibit 42: Chart on Automotive - Year-over-year growth 2021-2026 (%)
      • Exhibit 43: Data Table on Automotive - Year-over-year growth 2021-2026 (%)
    • 5.7 Others - Market size and forecast 2021-2026
      • Exhibit 44: Chart on Others - Market size and forecast 2021-2026 ($ million)
      • Exhibit 45: Data Table on Others - Market size and forecast 2021-2026 ($ million)
      • Exhibit 46: Chart on Others - Year-over-year growth 2021-2026 (%)
      • Exhibit 47: Data Table on Others - Year-over-year growth 2021-2026 (%)
    • 5.8 Market opportunity by End-user
      • Exhibit 48: Market opportunity by End-user ($ million)

    6 Customer Landscape

    • 6.1 Customer landscape overview
      • Exhibit 49: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

    7 Geographic Landscape

    • 7.1 Geographic segmentation
      • Exhibit 50: Chart on Market share by geography 2021-2026 (%)
      • Exhibit 51: Data Table on Market share by geography 2021-2026 (%)
    • 7.2 Geographic comparison
      • Exhibit 52: Chart on Geographic comparison
      • Exhibit 53: Data Table on Geographic comparison
    • 7.3 APAC - Market size and forecast 2021-2026
      • Exhibit 54: Chart on APAC - Market size and forecast 2021-2026 ($ million)
      • Exhibit 55: Data Table on APAC - Market size and forecast 2021-2026 ($ million)
      • Exhibit 56: Chart on APAC - Year-over-year growth 2021-2026 (%)
      • Exhibit 57: Data Table on APAC - Year-over-year growth 2021-2026 (%)
    • 7.4 North America - Market size and forecast 2021-2026
      • Exhibit 58: Chart on North America - Market size and forecast 2021-2026 ($ million)
      • Exhibit 59: Data Table on North America - Market size and forecast 2021-2026 ($ million)
      • Exhibit 60: Chart on North America - Year-over-year growth 2021-2026 (%)
      • Exhibit 61: Data Table on North America - Year-over-year growth 2021-2026 (%)
    • 7.5 Europe - Market size and forecast 2021-2026
      • Exhibit 62: Chart on Europe - Market size and forecast 2021-2026 ($ million)
      • Exhibit 63: Data Table on Europe - Market size and forecast 2021-2026 ($ million)
      • Exhibit 64: Chart on Europe - Year-over-year growth 2021-2026 (%)
      • Exhibit 65: Data Table on Europe - Year-over-year growth 2021-2026 (%)
    • 7.6 South America - Market size and forecast 2021-2026
      • Exhibit 66: Chart on South America - Market size and forecast 2021-2026 ($ million)
      • Exhibit 67: Data Table on South America - Market size and forecast 2021-2026 ($ million)
      • Exhibit 68: Chart on South America - Year-over-year growth 2021-2026 (%)
      • Exhibit 69: Data Table on South America - Year-over-year growth 2021-2026 (%)
    • 7.7 Middle East and Africa - Market size and forecast 2021-2026
      • Exhibit 70: Chart on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
      • Exhibit 71: Data Table on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
      • Exhibit 72: Chart on Middle East and Africa - Year-over-year growth 2021-2026 (%)
      • Exhibit 73: Data Table on Middle East and Africa - Year-over-year growth 2021-2026 (%)
    • 7.8 US - Market size and forecast 2021-2026
      • Exhibit 74: Chart on US - Market size and forecast 2021-2026 ($ million)
      • Exhibit 75: Data Table on US - Market size and forecast 2021-2026 ($ million)
      • Exhibit 76: Chart on US - Year-over-year growth 2021-2026 (%)
      • Exhibit 77: Data Table on US - Year-over-year growth 2021-2026 (%)
    • 7.9 China - Market size and forecast 2021-2026
      • Exhibit 78: Chart on China - Market size and forecast 2021-2026 ($ million)
      • Exhibit 79: Data Table on China - Market size and forecast 2021-2026 ($ million)
      • Exhibit 80: Chart on China - Year-over-year growth 2021-2026 (%)
      • Exhibit 81: Data Table on China - Year-over-year growth 2021-2026 (%)
    • 7.10 Germany - Market size and forecast 2021-2026
      • Exhibit 82: Chart on Germany - Market size and forecast 2021-2026 ($ million)
      • Exhibit 83: Data Table on Germany - Market size and forecast 2021-2026 ($ million)
      • Exhibit 84: Chart on Germany - Year-over-year growth 2021-2026 (%)
      • Exhibit 85: Data Table on Germany - Year-over-year growth 2021-2026 (%)
    • 7.11 Japan - Market size and forecast 2021-2026
      • Exhibit 86: Chart on Japan - Market size and forecast 2021-2026 ($ million)
      • Exhibit 87: Data Table on Japan - Market size and forecast 2021-2026 ($ million)
      • Exhibit 88: Chart on Japan - Year-over-year growth 2021-2026 (%)
      • Exhibit 89: Data Table on Japan - Year-over-year growth 2021-2026 (%)
    • 7.12 India - Market size and forecast 2021-2026
      • Exhibit 90: Chart on India - Market size and forecast 2021-2026 ($ million)
      • Exhibit 91: Data Table on India - Market size and forecast 2021-2026 ($ million)
      • Exhibit 92: Chart on India - Year-over-year growth 2021-2026 (%)
      • Exhibit 93: Data Table on India - Year-over-year growth 2021-2026 (%)
    • 7.13 Market opportunity by geography
      • Exhibit 94: Market opportunity by geography ($ million)

    8 Drivers, Challenges, and Trends

    • 8.1 Market drivers
      • 8.2 Market challenges
        • 8.3 Impact of drivers and challenges
          • Exhibit 95: Impact of drivers and challenges in 2021 and 2026
        • 8.4 Market trends

          9 Vendor Landscape

          • 9.1 Overview
            • 9.2 Vendor landscape
              • Exhibit 96: Overview on Criticality of inputs and Factors of differentiation
            • 9.3 Landscape disruption
              • Exhibit 97: Overview on factors of disruption
            • 9.4 Industry risks
              • Exhibit 98: Impact of key risks on business

            10 Vendor Analysis

            • 10.1 Vendors covered
              • Exhibit 99: Vendors covered
            • 10.2 Market positioning of vendors
              • Exhibit 100: Matrix on vendor position and classification
            • 10.3 ABB Ltd.
              • Exhibit 101: ABB Ltd. - Overview
              • Exhibit 102: ABB Ltd. - Business segments
              • Exhibit 103: ABB Ltd. - Key offerings
              • Exhibit 104: ABB Ltd. - Segment focus
            • 10.4 Emerson Electric Co.
              • Exhibit 105: Emerson Electric Co. - Overview
              • Exhibit 106: Emerson Electric Co. - Business segments
              • Exhibit 107: Emerson Electric Co. - Key news
              • Exhibit 108: Emerson Electric Co. - Key offerings
              • Exhibit 109: Emerson Electric Co. - Segment focus
            • 10.5 General Electric Co.
              • Exhibit 110: General Electric Co. - Overview
              • Exhibit 111: General Electric Co. - Business segments
              • Exhibit 112: General Electric Co. - Key news
              • Exhibit 113: General Electric Co. - Key offerings
              • Exhibit 114: General Electric Co. - Segment focus
            • 10.6 Honeywell International Inc.
              • Exhibit 115: Honeywell International Inc. - Overview
              • Exhibit 116: Honeywell International Inc. - Business segments
              • Exhibit 117: Honeywell International Inc. - Key news
              • Exhibit 118: Honeywell International Inc. - Key offerings
              • Exhibit 119: Honeywell International Inc. - Segment focus
            • 10.7 Metso Outotec Corp.
              • Exhibit 120: Metso Outotec Corp. - Overview
              • Exhibit 121: Metso Outotec Corp. - Business segments
              • Exhibit 122: Metso Outotec Corp. - Key news
              • Exhibit 123: Metso Outotec Corp. - Key offerings
              • Exhibit 124: Metso Outotec Corp. - Segment focus
            • 10.8 Mitsubishi Electric Corp.
              • Exhibit 125: Mitsubishi Electric Corp. - Overview
              • Exhibit 126: Mitsubishi Electric Corp. - Business segments
              • Exhibit 127: Mitsubishi Electric Corp. - Key news
              • Exhibit 128: Mitsubishi Electric Corp. - Key offerings
              • Exhibit 129: Mitsubishi Electric Corp. - Segment focus
            • 10.9 Rockwell Automation Inc.
              • Exhibit 130: Rockwell Automation Inc. - Overview
              • Exhibit 131: Rockwell Automation Inc. - Business segments
              • Exhibit 132: Rockwell Automation Inc. - Key news
              • Exhibit 133: Rockwell Automation Inc. - Key offerings
              • Exhibit 134: Rockwell Automation Inc. - Segment focus
            • 10.10 Schneider Electric SE
              • Exhibit 135: Schneider Electric SE - Overview
              • Exhibit 136: Schneider Electric SE - Business segments
              • Exhibit 137: Schneider Electric SE - Key news
              • Exhibit 138: Schneider Electric SE - Key offerings
              • Exhibit 139: Schneider Electric SE - Segment focus
            • 10.11 Siemens AG
              • Exhibit 140: Siemens AG - Overview
              • Exhibit 141: Siemens AG - Business segments
              • Exhibit 142: Siemens AG - Key news
              • Exhibit 143: Siemens AG - Key offerings
              • Exhibit 144: Siemens AG - Segment focus
            • 10.12 Yokogawa Electric Corp.
              • Exhibit 145: Yokogawa Electric Corp. - Overview
              • Exhibit 146: Yokogawa Electric Corp. - Business segments
              • Exhibit 147: Yokogawa Electric Corp. - Key offerings
              • Exhibit 148: Yokogawa Electric Corp. - Segment focus

            11 Appendix

            • 11.1 Scope of the report
              • 11.2 Inclusions and exclusions checklist
                • Exhibit 149: Inclusions checklist
                • Exhibit 150: Exclusions checklist
              • 11.3 Currency conversion rates for US$
                • Exhibit 151: Currency conversion rates for US$
              • 11.4 Research methodology
                • Exhibit 152: Research methodology
                • Exhibit 153: Validation techniques employed for market sizing
                • Exhibit 154: Information sources
              • 11.5 List of abbreviations
                • Exhibit 155: List of abbreviations

              Research Framework

              Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

              TechnavioINFORMATION SOURCES

              Primary sources

              • Manufacturers and suppliers
              • Channel partners
              • Industry experts
              • Strategic decision makers

              Secondary sources

              • Industry journals and periodicals
              • Government data
              • Financial reports of key industry players
              • Historical data
              • Press releases
              Technavio

              TechnavioDATA ANALYSIS

              Data Synthesis

              • Collation of data
              • Estimation of key figures
              • Analysis of derived insights

              Data Validation

              • Triangulation with data models
              • Reference against proprietary databases
              • Corroboration with industry experts
              Technavio

              TechnavioREPORT WRITING

              Qualitative

              • Market drivers
              • Market challenges
              • Market trends
              • Five forces analysis

              Quantitative

              • Market size and forecast
              • Market segmentation
              • Geographical insights
              • Competitive landscape
              Interested in this report?
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              Industrial Services market growth will increase by $11377.76 million during 2022-2026.
              The industrial services market is expected to grow at a CAGR of 5.29% during 2022-2026.
              Technavio has segmented the industrial services market by end-user (Oil and gas, chemicals, Aerospace, and Automotive) and geographic (APAC, North America, Europe, South America, and Middle East and Africa).
              ABB Ltd., AB SKF, Bilfinger SE, Eaton Corp. Plc, EMCOR Group Inc., Emerson Electric Co., General Electric Co., Honeywell International Inc., INTECH Process Automation Inc., John Wood Group PLC, Leadec Holding?áBV and Co. KG, Metso Outotec Corp., Mitsubishi Electric Corp., Rockwell Automation Inc., SAMSON Controls Inc., Schneider Electric SE, Siemens AG, United States Environmental Services LLC, Worley Ltd., Yokogawa Electric Corp. are a few of the key vendors in the industrial services market.
              APAC will register the highest growth rate of 38.3% among the other regions. Therefore, the industrial services market in APAC is expected to garner significant business opportunities for the vendors during the forecast period.
              The key factors driving the industrial services market growth are:
              • Lack of technical expertise
              • Increasing focus on predictive maintenance
              The industrial services market vendors should focus on grabbing business opportunities from the oil and gas segment as it accounted for the largest market share in the base year.
              • What are the key global market and the regional market share?
              • What are the revenue-generating key market segments?
              • What are the key factors driving and challenging this market’s growth?
              • Who are the key market vendors and their growth strategies?
              • What are the latest trends influencing the growth of this market?
              • What are the variables influencing the market growth in the primary regions?
              • What are the factors influencing the growth of the parent market?
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