Motor Repair and Maintenance Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027

Motor Repair and Maintenance Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027

Report Format: PDF+Excel | Report ID: SR112023A971
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Market Overview:

The global motor repair and maintenance market size reached US$ 31.31 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 35.53 Billion by 2027, exhibiting at a CAGR of 2.18% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.

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.

 

 
 

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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.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global motor repair and maintenance market report, along with forecasts for growth at the global and regional level from 2022-2027. Our report has categorized the market based on type, service and end use industry.

Breakup by Type:

 

 
 

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  • General Repair
    • Bearing
    • Stator
    • Rotor
    • Others
  • Overhaul
     

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.

Breakup by Service:

  • On-site Service
  • Off-site Service
     

On the basis of service, on-site service represents the largest segment, followed by off-site service.

Breakup by End Use Industry:

  • Utilities (water, electricity and gas)
  • HVAC
  • Food and Beverage
  • Mining
  • Others
     

The market has also been segregated on the basis of end-use industry. At present, the utilities sector accounts for majority of the total global market, followed by the HVAC, food and beverages, and mining segments.

Regional Insights:

  • North America
  • Europe
  • Asia Pacific
  • Rest of the World
     

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 majority of the total global market.

Competitive Landscape:

The competitive landscape of the market has also been examined with some of the key players being ABB, Siemens, WEG SA, 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.

Report Coverage:

Report Features Details
Base Year of the Analysis 2021
Historical Period 2016-2021
Forecast Period 2022-2027
Units US$ Billion
Segment Coverage Type, Service, End Use Industry, Region
Region Covered North America, Europe, Asia Pacific, Rest of the World
Companies Covered ABB, Siemens, WEG SA, Regal Beloit and TECO E&M/TECO-Westinghouse
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License $ 2499
Five User License $ 3499
Corporate License $ 4499
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

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Motor Repair and Maintenance Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027
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