Construction, transportation, mining and heavy industrial machinery represent more than 50% of the demand for mechanical services.
/EIN News/ — Rockville, Nov. 10, 2022 (GLOBE NEWSWIRE) — The global mechanical services market is expected to be valued at US$9.4 billion in 2022 and is expected to grow at a CAGR of 4.7% during the period. forecast for 2022-2032, according to the latest study by Fact.MR, a provider of market research and competitive intelligence. Market growth is driven by a substantial increase in infrastructure development, growing demand for mechanical services in end-use industry verticals and integrating innovative technologies with mechanical services.
Every industry, big or small, needs efficiently designed machinery and instruments for its infrastructure. In addition, installation, repair, maintenance and inspection of these machines are necessary to avoid sudden breakdowns and faster deterioration. Thus, the demand for mechanical services should increase at a steady pace over the next few years.
The market is highly fragmented across the world. The integration of advanced technologies such as 3D modeling and visualization of virtual projects to eliminate errors and obtain an accurate overview of the installation of machines is in progress.
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Key insights from market research
- Construction, transportation, mining and heavy industrial machinery represent more than 50% of the demand for mechanical services.
- During the forecast period (2022-2032), the market is expected to grow at a CAGR of 4.7%
- North America is expected to hold a dominant 31% share of the global market.
- Demand for mechanical services is expected to grow at a CAGR of 4.9% and 5.5%, respectively, in Europe and East Asia.
“Technological innovation in mechanical services will lead to significant growth opportunities for market players,” says a Fact.MR analyst.
Mechanical Services Industry Research Segmentation
- Advice & Advice
- Setup & Integration
- repair & maintenance
By end-use industry:
- Aeronautics & Defense
- Energy and Utilities
- Food industry
- Forestry and soil maintenance
- Industrial heavy machinery
- Material handling
- Others (not covered elsewhere)
- North America
- Latin America
- East Asia
- South Asia and Oceania
- Middle East and Africa
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The market is highly fragmented with the presence of large and small market players. It is observed that aggressive moves are being adopted by market players with the acquisition of small businesses.
- In August 2022, PremiStar, a leading provider of commercial and industrial HVAC, building automation and plumbing services, acquired Mechanical Service, Inc., a commercial HVAC contractor in Lowa City, USA .
- In June 2022, mobile vehicle technology and service organization, Wrench (Seattle, WA) acquired mobile vehicle repair network YourMechanic. The acquisition led to the enhancement of the company’s service offerings to over 20,000 private and fleet vehicles per month.
- In April 2022, Marsden Holding LLC acquired Signature Mechanical, Inc. through its wholly owned subsidiary Palen Kimball, LLC, which is a commercial mechanical services contractor providing HVAC and other maintenance services.
Profiled Key Companies
- Sterling and Wilson Pvt Ltd
- PSI Repair Services
- McGill Associates
- L&H Industrial
- Heavy equipment mechanics
- Exline, Inc.
- company key
- Choice of maintenance
- Caterpillar inc.
- Atom MEP Engineers PVT LTD
- The astro machine works
- AEMS Engineers
- MEP engineering
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To the power of attorney for The First share of demand for mechanical services in the United States.
The United States is a well-developed economy with many manufacturing and production sites equipped with sophisticated machinery. Industries such as energy, construction, and automotive are well developed in the country, so there is a high demand for mechanical services.
By making the most of the machines, their breakdowns and faults tend to occur, and the need for mechanical services due to the timely inspection and regular maintenance of the machines becomes higher.
In addition, the US government has invested considerable sums in strengthening infrastructure, which has had an effect on the demand for large equipment and machinery. As such, the country’s mechanical service providers are expected to make significant profits in the years to come.
More valuable information about the offer
Fact.MR, in its new offering, presents an unbiased analysis of the global Mechanical Services Market, showcasing historical market data (2017-2021) and forecast statistics for the period 2022-2032.
The study reveals critical insights based on service (consulting and consulting, installation and integration, repair and maintenance, inspection) and end-use industry (aerospace and defense, construction, energy and utilities, agriculture, food industry, forestry and ground care, industrial heavy machinery, material handling, mining, transport, others (not covered elsewhere)), in the main regions of the world (North America, Latin America, Europe, East Asia, South Asia and Oceania, and Middle East and Africa).
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