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.

Motor Repair and Maintenance Market

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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:

  • Type
  • Service
  • End Use
  • Region
Breakup by Type
  • General Repair
  • Overhaul
Breakup by Service
  • On-Site Service
  • Off-Site Service
Breakup by End Use
  • Utilities (Water, Electricity, and Gas)
  • HVAC
  • Food and Beverages
  • Mining
  • Others
Breakup by Region
  • North America
    • United States of America 
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Australia
    • Others
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • United Arab Emirates
    • Nigeria
    • South Africa
    • Others
Market Dynamics
  • SWOT Analysis
  • Porter's Five Forces Analysis
  • Key Indicators for Demand
  • Key Indicators for Price
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • ABB Ltd
  • Siemens 
  • Regal Beloit Corporation
  • TECO-Westinghouse
  • Others
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*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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