The global heavy machinery maintenance & repair market is set to reach a valuation of US$ 182.9 billion in 2022 and further expand at a CAGR of 4.5% to climb to US$ 284 billion by the end of 2032.
Heavy machinery maintenance & repair currently accounts for 18% share of the global maintenance & repair market. The infrastructure industry, as a whole, is witnessing significantly high investments across the globe. In today’s industry 4.0 environment, heavy machinery and equipment have become an integral part of most industries. From construction to power, and aerospace to transport, every single sector is directly or indirectly dependent on the use of heavy machinery and equipment.
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Key Takeaways from Market Study
- The global heavy machinery maintenance & repair market is projected to expand at a CAGR of 4.5% and reach US$ 284 billion by 2032.
- The market exhibited 3.3% CAGR between 2017 and 2021.
- Under type, automotive repair and maintenance services dominate and are valued at US$ 84 billion in 2022.
- North America leads the market with 31% share in 2021.
- Demand for heavy machinery maintenance & repair services is expected to increase at CAGRs of 4.5% and 4.8%, respectively, in Europe and South Asia & Oceania.
Prominent heavy machinery maintenance & repair service providers are Advanced Technology Services, Astro Machine Works, Caterpillar Inc., CNH Industrial Company, Wrench Deere & Company, Exline, Inc., GoCodes, Heavy Equipment Mechanical, Hidramar Group, Indufit Machine, L&H Industrial, Linde plc, PSI Repair Services, and SuperService.
The global market is highly fragmented owing to the low entry barriers and top global players trying to gain market share through various organic and inorganic strategies.
- In June 2022, Wrench acquired mobile vehicle repair network YourMechanic.
Fact.MR has provided detailed information about the providers of heavy machinery maintenance & repair services positioned across regions, revenue growth, and service offering expansion, in the recently published report.
More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global heavy machinery maintenance & repair market, presenting historical market data (2017-2021) and forecast statistics for the period of 2022-2032.
The study reveals essential insights on the basis of type (automotive repair & maintenance, electronic & precision equipment repair & maintenance, commercial & industrial machinery repair & maintenance) and end-use industry (aerospace & defence, construction, energy & utility, farming, food industry, forestry & ground care, industrial heavy machinery, material handling, mining, transportation, others (not covered elsewhere), across major regions of the world (North America, Latin America, Europe, East Asia, South Asia & Oceania, and the Middle East & Africa).
Segmentation of Heavy Machinery Maintenance & Repair Market
· By Type :
- Automotive Repair and Maintenance
- Electronic & Precision Equipment Repair and Maintenance
- Commercial & Industrial Machinery Repair and Maintenance
· By End-use Industry :
- Aerospace & Defense
- Energy & Utility
- Food Industry
- Forestry & Ground Care
- Industrial Heavy Machinery
- Material Handling
- Others (Not Covered Elsewhere)
· By Region :
- North America
- Latin America
- East Asia
- South Asia & Oceania
- Middle East & Africa
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Questionnaire answered in the Market outlook Report of Heavy Machinery Maintenance & Repair include:
- What is the key strategy deployed by large players to maximize Heavy Machinery Maintenance & Repair Market growth?
- What are the main challenges faced by players in the Heavy Machinery Maintenance & Repair market Demand?
- With the advent of technological advancement, how will the Heavy Machinery Maintenance & Repair market landscape change over the forecast period?
- What does player bring to the table which is unique as a strategy, and is easy to emulate for new investors in the Heavy Machinery Maintenance & Repair market size?
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