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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Global Motor Repair and Maintenance Market Outlook
The global motor repair and maintenance market size reached a value of about USD 33.57 billion in 2023. The market is further expected to grow at a CAGR of nearly 3.7% in the forecast period of 2024-2032 to reach a value of approximately USD 46.51 billion by 2032.
| Global Motor Repair and Maintenance Market Report Summary | Description | Value |
| Base Year | USD Billion | 2023 |
| Historical Period | USD Billion | 2018-2023 |
| Forecast Period | USD Billion | 2024-2032 |
| Market Size 2023 | USD Billion | 33.57 |
| Market Size 2032 | USD Billion | 46.51 |
| CAGR 2018-2023 | Percentage | XX% |
| CAGR 2024-2032 | Percentage | 3.7% |
| CAGR 2024-2032 - Market by Region | Asia Pacific | 4.5% |
| CAGR 2024-2032 - Market by Country | India | 5.2% |
| CAGR 2024-2032 - Market by Country | China | 4.3% |
| CAGR 2024-2032 - Market by Service | On-Site Service | 4.1% |
| CAGR 2024-2032 - Market by End Use | Utilities (Water, Electricity, and Gas) | 4.3% |
| Market Share by Country 2023 | France | 3.5% |
The Asia Pacific is expected to be the global leader in the motor repair and maintenance industry because of the existence of multiple car hubs in the region. In addition, high passengers' vehicles consumption throughout Asia and increased passenger vehicle output throughout the region are expected to push the motor repair and maintenance service industry over the forecast period. Today, North America also has a large market share of motor repair and maintenance services. Over the forecast era, it would probably retain its share of the global economy.
Electric motors can be used in compressors, machine tools, and industrial fans in different industry sectors, ranging from food and drink to mining. As they have an immense effect on competitiveness and efficiency, ensuring that such motors are powerful, therefore, routine preventive maintenance (PM) checks are essential for electric motors. The general process involves visual inspection, controls for the switch and brush, check for the engine winding, and inspection for the bearing. In fact, the maintenance of electric motors is cost-effective, instead of replacing the entire system.
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Properties and Applications
Motor repair and maintenance is the maintenance control process, which also involves visual review, motor winding check, and electric motor bearing inspection. Electric motors are widely applicable in various industries, such as compressors, industrial fans, and others. It is an integral component of a business because its competitiveness and profitability depend on its effective performance. Different end-users have started in recent years to seek successful repair and maintenance solutions aimed at preventing critical breakdowns, reducing downtimes, as well as preventing serious motor damage.
Based on type, the industry can be further segmented as follows:
- General Repair
- Bearing
- Stator
- Rotor
- Others
- Overhaul
| CAGR 2024-2032 - Market by | Service |
| On-Site Service | 4.1% |
| Off-Site Service | XX% |
Based on service, the market can be divided into the following:
- On-Site Service
- Off-Site Service
| CAGR 2024-2032 - Market by | End Use |
| Utilities (Water, Electricity, and Gas) | 4.3% |
| HVAC | 3.9% |
| Food and Beverages | XX% |
| Mining | XX% |
It finds wide end-uses in the following industries:
- Utilities (Water, Electricity, and Gas)
- HVAC
- Food and Beverage
- Mining
- Others
| CAGR 2024-2032 - Market by | Region |
| Asia Pacific | 4.5% |
| Latin America | 3.9% |
| North America | XX% |
| Europe | XX% |
| Middle East and Africa | XX% |
| CAGR 2024-2032 - Market by | Country |
| India | 5.2% |
| China | 4.3% |
| Mexico | 3.8% |
| UK | 3.2% |
| USA | 3.1% |
| Canada | XX% |
| Germany | XX% |
| France | XX% |
| Italy | 2.7% |
| Japan | XX% |
| Australia | XX% |
| Saudi Arabia | XX% |
| Brazil | XX% |
| 2023 Market Share by | Country |
| France | 3.5% |
| USA | XX% |
| Canada | XX% |
| UK | XX% |
The regional markets for motor repair and maintenance include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
Market Analysis
Preventative maintenance (PM) controls are a significant boost to cost efficiency, which drives the growth of the global motor repair and maintenance industry. The repair of an engine and preventive steps are also a more convenient choice to minimise further damage than the overall replacement of the entire unit. Regular maintenance also decreases the risk factor as well as increases equipment lifespan. In addition, thanks to technological developments, the use of electric motors for automating different applications in industries including HVAC, mining, food, and beverages have increased significantly. In addition, the use of complex machinery will increase the market for special motor repair and maintenance services considerably. These factors together are propelling the growth of the motor repair and maintenance industry forward.
Competitive Landscape
The report gives a detailed analysis of the following key players in the global motor repair and maintenance market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
- ABB Ltd
- Siemens
- Regal Beloit Corporation
- TECO-Westinghouse
- Others
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|
| Breakup by Type |
|
| Breakup by Service |
|
| Breakup by End Use |
|
| Breakup by Region |
|
| Market Dynamics |
|
| Competitive Landscape |
|
| Companies Covered |
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| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
The global motor repair and maintenance market reached a value of USD 33.57 billion in 2023.
The market is projected to grow at a CAGR of nearly 3.7% in the forecast period of 2024-2032.
The market is estimated to reach a value of about USD 46.51 billion by 2032.
The major drivers of the market include rising disposable incomes, increasing industrualisation, and the rising technological developments.
The growing use of complex machinery, technological advancements and innovations, and the rising use of electric motors for automating various applications in end-use sectors like food and beverages, mining, and HVAC, among others, are the key trends fuelling the market.
North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa are the leading regions in the market.
General repair and overhaul are the major types of motor repair and maintenance considered in the market report.
The significant segments on the basis of service in the market include on-site service and off-site service.
Utilities (water, electricity, and gas), HVAC, food and beverages, and mining, among others, are the different end uses of motor repair and maintenance.
The leading players in the market are ABB Ltd, Siemens, Regal Beloit Corporation, and TECO-Westinghouse, among others.
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