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Industrial Services Market to Reach USD 64.65 Billion by 2034, Driven by Maintenance Needs and Digital Transformation
Polaris Market Research has published a brand-new report titled Industrial Services Market Size, Share, Trends, Industry Analysis Report By Type (Engineering & Consulting, Installation & Commissioning, Operational Improvement & Maintenance), By Application, By End Use, By Region – Market Forecast, 2025–2034 that includes extensive information and analysis of the industry dynamics.
The opportunities and challenges in the report's dynamical trends might be useful for the worldwide Industrial Services industry. The study provides an outline of the market's foundation and organizational structure and forecasts an increase in market share. The study offers a comprehensive analysis of the Industrial Services Market size, present revenue, regular deliverables, share, and profit projections. The study report includes a sizable database on future market forecasting based on an examination of previous data.
The global industrial services market was valued at USD 34.57 billion in 2024 and is forecasted to reach USD 64.65 billion by 2034, growing at a CAGR of 6.48% from 2025 to 2034. Increasing demand for equipment maintenance, modernization, and digital industrial solutions is contributing to steady market expansion.
Brief About the Report
The industrial services market is expanding as industries focus on operational efficiency, predictive maintenance, and digital transformation. Growing demand for equipment modernization, automation, and smart industrial solutions is contributing to the market’s sustained development across manufacturing, energy, and process industries.
The market's supply-side and demand-side Industrial Services Market trends are evaluated in the study. The study provides important details on applications and statistics, which are compiled in the report to provide a market prediction. Additionally, it offers thorough explanations of SWOT and PESTLE analyses depending on changes in the region and industry. It sheds light on risks, obstacles, and uncertainties, as well as present and future possibilities and challenges in the market.
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Market Statistics
- 2024 Market Size: USD 34.57 Billion
- 2034 Projected Market Size: USD 64.65 Billion
- CAGR (2025–2034): 6.48%
- North America: Largest Market Share
Key Aspects Covered in The Report
- Market size and growth rate during the forecast period.
- Key vendors operating in the market with their company profiles
- Opportunities and threats faced by the existing vendors in the market.
- Trending factors influencing the market in the geographical regions.
- In-depth understanding of market drivers, constraints, and major micro markets.
- The critical data of each segment is highlighted at an extensive level.
Industrial Services Market Segmentation Analysis
The study offers a thorough analysis of the numerous market segments, including application type, product component, service types, and several geographic locations. The report's segment analysis section contains thoroughly researched expert-verified industry data. Strategic recommendations are given in terms of key business segments based on market estimations.
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Leading Players Analysis
The research report's chapter is entirely devoted to the competition environment. The Industrial Services Market key players are examined, analyzing information on their evaluation and development in addition to a quick review of the company. Understanding the techniques employed by businesses and the steps they have recently taken to combat intense rivalry allows one to examine the competitive landscape. It covers each player's company profiles comprising sales, revenue, share, recent developments, SWOT analysis, capacity, production, revenue, gross margin, growth rate, and strategies employed by the major market players.
Different potentials in the domestic and regional markets are revealed by regional analysis of the sector. Each regional industry associated with this market is carefully examined to determine its potential for growth in the present and the future. Moreover, information on recent mergers and acquisitions that have taken place in the market is the subject of the research. This section provides important financial information about mergers and acquisitions that have recently shaped the Industrial Services industry.
Regions Covered in This Report Are
- North America (United States, Canada, and Mexico)
- Europe (Germany, France, United Kingdom, Russia, Italy, and the Rest of Europe)
- Asia-Pacific (China, Japan, Korea, India, Southeast Asia, and Australia)
- South America (Brazil, Argentina, Colombia, and the rest of South America)
- The Middle East and Africa (Saudi Arabia, United Arab Emirates, Egypt, South Africa, and the Rest of the Middle East and Africa)
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Report Summary
The analysis focuses on the regional forecast by type and application and the Industrial Services Market sales and revenue prediction. The research report features data about the target market, such as pricing trends, customer requirements, and competitor analysis. The market growth has been examined using analytical approaches like PESTLE analysis, Porter's Five Forces analysis, feasibility studies, player-specific SWOT analyses, and ROI analyses.
The Report Provides You Answer to Below Mentioned Question
1. What are the industrial services market statistics?
Ans: The global industrial services market was valued at USD 34.57 billion in 2024 and is projected to reach USD 64.65 billion by 2034, driven by increasing demand for equipment maintenance, modernization, and industrial automation solutions.
2. What is the growth rate of the industrial services market value?
Ans: The industrial services market is expected to grow at a CAGR of 6.48% during the forecast period 2025–2034, supported by the adoption of digital industrial solutions and rising focus on operational efficiency.
3. Which region dominated the global market share in 2024?
Ans: North America dominated the industrial services market in 2024, owing to its advanced industrial infrastructure, high adoption of automated solutions, and strong presence of key service providers.
4. Who are the key players in the market?
Ans: Major players in the industrial services market include ABB, Emerson Electric Co., GE Vernova, Honeywell International Inc., Metso, Rockwell Automation, Samson, Schneider Electric, Siemens, SKF, and Wood Group Industrial Services Limited.
5. Which segment, by type, dominated the industrial services market revenue share in 2024?
Ans: The operational improvement & maintenance segment held the largest revenue share in 2024, driven by continuous demand for equipment optimization, preventive maintenance, and operational efficiency services across industries.
6. Which segment, by end use, is expected to witness the fastest growth during the forecast period?
Ans: The pharmaceuticals segment is projected to experience the fastest growth, fueled by expanding pharmaceutical manufacturing, increasing demand for precision services, and stringent regulatory compliance requirements.
Objectives of the Report
- To carefully analyze and forecast the size of the market by value and volume.
- To evaluate the market shares of major segments of the market
- To explain the development of the industry in different parts of the world.
- To analyze and study micro-markets in terms of their contributions to the market, their prospects, and individual growth trends.
- To offer precise and valuable details about factors affecting the Industrial Services Market forecasts
- To provide a meticulous assessment of crucial business strategies used by leading companies.
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