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Press Release:
Motor Repair and Maintenance Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024
Electric motors find applications in diverse industries ranging from food and beverage to mining where they are installed in compressors, machine tools, industrial fans, etc. Since they have a huge impact on a business profitability and productivity, it is vital to ensure that these motors perform well. Consequently, it is important to perform regular preventive maintenance (PM) checks on electric motors. The general procedure includes visual inspection, maintenance check on the commutator and brush, motor winding test and bearing inspection. Moreover, repairing electric motors is cost-effective than replacing the entire machine, thereby being an optimum alternative. According to the latest report by IMARC Group, titled “Motor Repair and Maintenance Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, the global motor repair and maintenance market reached a value of US$ 29.37 Billion in 2018.
Preventive maintenance of motors lessens the risk factor, saves energy, improves equipment life and reduces downtime. Regular use of electric motors in various end-use industries, such as HVAC, mining, food and beverage, etc., is impelling the growth of the motor repair and maintenance market worldwide. Apart from this, the utilisation of electric motors has grown significantly in various sectors due to increasing automation. Advancements in the automation industry are changing the nature of repair and maintenance of motors, including the type of specialist equipment and skills required. Due to the employment of intricate machinery, the demand for motor repair and maintenance services is anticipated to rise in the coming years. Looking forward, the market is projected to reach a value of US$ 36.38 Billion by 2024, expanding at a CAGR of 3.64% during 2019-2024.
Market Summary:
- Based on type, the market has been bifurcated into general repair and overhaul. Currently, general repair dominates the market, thereby holding the largest share. The general repair segment has been further categorised into bearing, stator and rotor.
- On the basis of service, off-site service represents the largest segment, followed by on-site service.
- The market has also been segregated on the basis of end-use industry. At present, the utilities sector accounts for the majority of the total market, followed by the HVAC, food and beverages, and mining segments.
- Region-wise, the market has been divided into Asia Pacific, North America, Europe and Rest of the World (RoW). Amongst these, Asia Pacific is the leading market, holding the majority of the total global market.
- The competitive landscape of the market has also been examined with some of the key players being ABB, Siemens, WEG, Regal Beloit and TECO E&M/TECO-Westinghouse.
This report provides a deep insight into the global motor repair and maintenance market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the motor repair and maintenance market in any manner.
Key Questions Answered in This Report:
- How has the global motor repair and maintenance market performed so far and how will it perform in the coming years?
- What are the key regions in the global motor repair and maintenance market?
- Which are the major types in the global motor repair and maintenance market?
- What are the key service segments in the global motor repair and maintenance market?
- What are the major end-use sectors in the global motor repair and maintenance market?
- What are the various stages in the value chain of the global motor repair and maintenance market?
- What are the key driving factors and challenges in the global motor repair and maintenance market?
- What is the structure of the global motor repair and maintenance market and who are the key players?
- What is the degree of competition in the global motor repair and maintenance market?
1 Preface
2 Scope and Methodology
2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
2.3.1 Primary Sources
2.3.2 Secondary Sources
2.4 Market Estimation
2.4.1 Bottom-Up Approach
2.4.2 Top-Down Approach
2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
4.1 Overview
4.2 Key Industry Trends
5 Global Motor Repair and Maintenance Market
5.1 Market Overview
5.2 Market Performance
5.3 Market Breakup by Type
5.4 Market Breakup by Service
5.5 Market Breakup by End Use Industry
5.6 Market Breakup by Region
5.7 Market Forecast
5.8 SWOT Analysis
5.8.1 Overview
5.8.2 Strengths
5.8.3 Weaknesses
5.8.4 Opportunities
5.8.5 Threats
5.9 Value Chain Analysis
5.9.1 Research and Development
5.9.2 Raw Parts/Equipment Procurement
5.9.3 Repair and Maintenance Companies
5.9.4 Distributors and Retailers
5.9.5 On Site Service
5.9.6 End-Users
5.10 Porters Five Forces Analysis
5.10.1 Overview
5.10.2 Bargaining Power of Buyers
5.10.3 Bargaining Power of Suppliers
5.10.4 Degree of Competition
5.10.5 Threat of New Entrants
5.10.6 Threat of Substitutes
5.11 Key Success and Risk Factors
6 Market Breakup by Type
6.1 General Repair
6.1.1 Bearing
6.1.1.1 Market Trends
6.1.1.2 Market Forecast
6.1.2 Stator
6.1.2.1 Market Trends
6.1.2.2 Market Forecast
6.1.3 Rotor
6.1.3.1 Market Trends
6.1.3.2 Market Forecast
6.1.4 Others
6.1.4.1 Market Trends
6.1.4.2 Market Forecast
6.2 Overhaul
6.2.1 Market Trends
6.2.2 Market Forecast
7 Market Breakup by Service
7.1 On-site Service
7.1.1 Market Trends
7.1.2 Market Forecast
7.2 Off-site Service
7.2.1 Market Trends
7.2.2 Market Forecast
8 Market Breakup by End Use Industry
8.1 Utilities (water, electricity and gas)
8.1.1 Market Trends
8.1.2 Market Forecast
8.2 HVAC
8.2.1 Market Trends
8.2.2 Market Forecast
8.3 Food and Beverage
8.3.1 Market Trends
8.3.2 Market Forecast
8.4 Mining
8.4.1 Market Trends
8.4.2 Market Forecast
8.5 Others
8.5.1 Market Trends
8.5.2 Market Forecast
9 Market Breakup by Region
9.1 North America
9.1.1 Market Trends
9.1.2 Market Forecast
9.2 Europe
9.2.1 Market Trends
9.2.2 Market Forecast
9.3 Asia Pacific
9.3.1 Market Trends
9.3.2 Market Forecast
9.4 Rest of the World
9.4.1 Market Trends
9.4.2 Market Forecast
10 Competitive Landscape
10.1 Market Structure
10.2 Key Players
10.3 Profiles of Key Players
10.3.1 ABB Group
10.3.1.1 Company Overview
10.3.1.2 Company Description
10.3.1.3 Product Portfolio
10.3.1.4 Financials
10.3.1.5 Key Contacts
10.3.2 Siemens Ag
10.3.2.1 Company Overview
10.3.2.2 Company Description
10.3.2.3 Product Portfolio
10.3.2.4 Financials
10.3.2.5 Key Contacts
10.3.3 WEG SA
10.3.3.1 Company Overview
10.3.3.2 Company Description
10.3.3.3 Product Portfolio
10.3.3.4 Financials
10.3.3.5 Key Contacts
10.3.4 Regal Beloit
10.3.4.1 Company Overview
10.3.4.2 Company Description
10.3.4.3 Product Portfolio
10.3.4.4 Financials
10.3.4.5 Key Contacts
10.3.5 TECO E&M/TECO-Westinghouse
10.3.5.1 Company Overview
10.3.5.2 Company Description
10.3.5.3 Product Portfolio
10.3.5.4 Financials
10.3.5.5 Key Contacts
List of Figures
Figure 1: Global: Motor Repair and Maintenance Market: Major Drivers and Challenges
Figure 2: Global: Motor Repair and Maintenance Market: Sales Value (in Billion US$), 2011-2018
Figure 3: Global: Motor Repair and Maintenance Market: Breakup by Type (in %), 2018
Figure 4: Global: Motor Repair and Maintenance Market: Breakup by Service (in %), 2018
Figure 5: Global: Motor Repair and Maintenance Market: Breakup by End Use Industry (in %), 2018
Figure 6: Global: Motor Repair and Maintenance Market: Breakup by Region (in %), 2018
Figure 7: Global: Motor Repair and Maintenance Market Forecast: Sales Value (in Billion US$), 2019-2024
Figure 8: Global: Motor Repair and Maintenance Industry: SWOT Analysis
Figure 9: Global: Motor Repair and Maintenance Industry: Value Chain Analysis
Figure 10: Global: Motor Repair and Maintenance Industry: Porter’s Five Forces Analysis
Figure 11: Global: Motor Repair and Maintenance Market (General Repair): Sales Value (in Billion US$), 2011 & 2018
Figure 12: Global: Motor Repair and Maintenance Market Forecast (General Repair): Sales Value (in Billion US$), 2019-2024
Figure 13: Global: Motor Repair and Maintenance Market (General Repair-Bearing): Sales Value (in Billion US$), 2011 & 2018
Figure 14: Global: Motor Repair and Maintenance Market Forecast (General Repair-Bearing): Sales Value (in Billion US$), 2019-2024
Figure 15: Global: Motor Repair and Maintenance Market (General Repair- Stator): Sales Value (in Billion US$), 2011 & 2018
Figure 16: Global: Motor Repair and Maintenance Market Forecast (General Repair- Stator): Sales Value (in Billion US$), 2019-2024
Figure 17: Global: Motor Repair and Maintenance Market (General Repair- Rotor): Sales Value (in Billion US$), 2011 & 2018
Figure 18: Global: Motor Repair and Maintenance Market Forecast (General Repair- Rotor): Sales Value (in Billion US$), 2019-2024
Figure 19: Global: Motor Repair and Maintenance Market (Others General Repair): Sales Value (in Billion US$), 2011 & 2018
Figure 20: Global: Motor Repair and Maintenance Market Forecast (Others General Repair): Sales Value (in Billion US$), 2019-2024
Figure 21: Global: Motor Repair and Maintenance Market (Overhaul): Sales Value (in Billion US$), 2011 & 2018
Figure 22: Global Motor Repair and Maintenance Market Forecast (Overhaul): Sales Value (in Billion US$), 2019-2024
Figure 23: Global: Motor Repair and Maintenance Market (On-site Service): Sales Value (in Billion US$), 2011 & 2018
Figure 24: Global: Motor Repair and Maintenance Market Forecast (On-site Service): Sales Value (in Billion US$), 2019-2024
Figure 25: Global: Motor Repair and Maintenance Market (Off-site Service): Sales Value (in Billion US$), 2011 & 2018
Figure 26: Global: Motor Repair and Maintenance Market Forecast (Off-site Service): Sales Value (in Billion US$), 2019-2024
Figure 27: Global: Motor Repair and Maintenance Market (in Utilities Sector): Sales Value (in Billion US$), 2011 & 2018
Figure 28: Global: Motor Repair and Maintenance Market Forecast (in Utilities Sector): Sales Value (in Billion US$), 2019-2024
Figure 29: Global: Motor Repair and Maintenance Market (in HVAC Industry): Sales Value (in Billion US$), 2011 & 2018
Figure 30: Global: Motor Repair and Maintenance Market Forecast (in HVAC Industry): Sales Value (in Billion US$), 2019-2024
Figure 31: Global: Motor Repair and Maintenance Market (in Food and Beverage Industry): Sales Value (in Billion US$), 2011 & 2018
Figure 32: Global: Motor Repair and Maintenance Market Forecast (in Food and Beverage Industry): Sales Value (in Billion US$), 2019-2024
Figure 33: Global: Motor Repair and Maintenance Market (in Mining Industry): Sales Value (in Billion US$), 2011 & 2018
Figure 34: Global: Motor Repair and Maintenance Market Forecast (in Mining Industry): Sales Value (in Billion US$), 2019-2024
Figure 35: Global: Motor Repair and Maintenance Market (in Other Industries): Sales Value (in Billion US$), 2011 & 2018
Figure 36: Global: Motor Repair and Maintenance Market Forecast (in Other Industries): Sales Value (in Billion US$), 2019-2024
Figure 37: North America: Motor Repair and Maintenance Market: Sales Value (in Billion US$), 2011 & 2018
Figure 38: North America: Motor Repair and Maintenance Market Forecast: Sales Value (in Billion US$), 2019-2024
Figure 39: Europe: Motor Repair and Maintenance Market: Sales Value (in Billion US$), 2011 & 2018
Figure 40: Europe: Motor Repair and Maintenance Market Forecast: Sales Value (in Billion US$), 2019-2024
Figure 41: Asia Pacific: Motor Repair and Maintenance Market: Sales Value (in Billion US$), 2011 & 2018
Figure 42: Asia Pacific: Motor Repair and Maintenance Market Forecast: Sales Value (in Billion US$), 2019-2024
Figure 43: Rest of the World: Motor Repair and Maintenance Market: Sales Value (in Billion US$), 2011 & 2018
Figure 44: Rest of the World: Motor Repair and Maintenance Market Forecast: Sales Value (in Billion US$), 2019-2024
List of Tables
Table 1: Global: Motor Repair and Maintenance Market: Key Industry Highlights, 2018 and 2024
Table 2: Global: Motor Repair and Maintenance Forecast: Breakup by Type (in Billion US$), 2019-2024
Table 3: Global: Motor Repair and Maintenance Forecast: Breakup by General Repair Type (in Billion US$), 2019-2024
Table 4: Global: Motor Repair and Maintenance Forecast: Breakup by Service Type (in Billion US$), 2019-2024
Table 5: Global: Motor Repair and Maintenance Market Forecast: Breakup by End Use Industry (in Billion US$), 2019-2024
Table 6: Global: Motor Repair and Maintenance Market Forecast: Breakup by Region (in Billion US$), 2019-2024
Table 7: Global: Motor Repair and Maintenance Market Structure
Table 8: Global: Motor Repair and Maintenance Market: Key Players
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