Motor Repair and Maintenance Market Research Report: Industry Trends, Growth, Share, Size and Regional Forecast Till 202

1. Global Motor Repair and Maintenance Market Report and Forecast Till 2024 Copyright © IMARC Service Pvt Ltd. All Rights Reserved

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3. Report Description and Highlights Report Description Motor Repair and Maintenance Market Report Service (On-site Service and Off-site Service), End Use Industry (Utilities, HVAC, Food and Beverage, Mining and Others), Type, Region The global motor repair and maintenance market is expected to witness a steady growth in the upcoming years. As regular maintenance of motors helps in reducing the risk factor and improving the lifespan of a machine, the demand for motor repair and maintenance services is increasing worldwide. Market Overview: As per the latest report by IMARC Group, titled “Motor Repair and Maintenance Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, the global motor repair and maintenance market reached a value of more than US$ 28 Billion in 2017. Electric motors create a huge impact on productivity as well as the profitability of a business. An unscheduled stoppage in the production process with long hours of shutdown for repairing can lead to a massive monetary loss. The factors which generally affect the functioning of a motor include misalignment of the shaft, insufficient lubrication in bearings and winding insulation resistance. A well-planned motor maintenance service aims at averting critical breakdowns caused by these factors, thereby reducing downtime and preventing serious damage to the motor. Some of the motor repair and maintenance services include winding tests, visual inspections, and brush and commutator maintenance.

4. Report Description and Highlights Report Description • Global Motor Repair and Maintenance Market Trends: • Electric motors are widely used in pumps, compressors, refrigerators, lathe machines, disk drives, power tools, vacuum cleaners, dishwashers, fax machines, sewage treatment plants, etc. Regular utilization of electrical motors in several end-use industries, such as HVAC, mining, and food and beverage, is one of the major factors which is catalyzing the growth of the motor repair and maintenance market across the globe. Moreover, the employment of electric motors has been growing in industrial automation due to technological advancements. For instance, various automaker companies like Volkswagen are engaging with repair and maintenance service providers to ensure a consistent supply of their products worldwide. Additionally, initiatives by the governments of emerging economies, such as India, Indonesia, Malaysia, etc., to promote industrialization and increase the number of manufacturing units are anticipated to foster the growth of the market in the coming years. Furthermore, the rising utilization of intricate machinery in diverse industries is expected to provide a thrust to the market growth. Looking forward, the market value is projected to reach nearly US$ 35 Billion by 2024, expanding at a CAGR of 3.4% during 2019-2024. • Motor Repair and Maintenance Market Segmentation: • Market Segmentation by Type • General Repair

5. Market Forecast Sample Figure: Global: Motor Repair and Maintenance Market Forecast: Sales Value (in Billion US$), 2019-2024

6. Market Segmentation Report Description • Bearing • Stator • Rotor • Others • Overhaul • On the basis of type, the market has been bifurcated as general repair and overhaul. Currently, the general repair segment dominates the market, holding the largest share. It is further divided into bearing, stator, rotor and others. • Market Segmentation by Service • On-site Service • Off-site Service • The market has also been segregated on the basis of service, wherein off-site service represents the largest segment, followed by on-site service. • For more information, click here: https://www.imarcgroup.com/motor-repair-maintenance-market

7. Market Segmentation Report Description • Request for a sample report: https://www.imarcgroup.com/request?type=report&id=971&flag=B • Market Segmentation by End Use Industry • Utilities (water, electricity and gas) • HVAC • Food and Beverage • Mining • Others • Based on end-use, the market has been segmented into utilities (water, electricity and gas), HVAC, food and beverage, mining and others. Presently, utilities account for the majority of the total share. • Market Segmentation by Region • North America • Europe • Asia Pacific • Latin America • Middle East and Africa

8. Regional Segmentation North America Europe Asia- Pacific Middle East and Africa Latin America

9. Market Segmentation Report Description • Region-wise, the market has been divided into North America, Europe, Asia Pacific and Rest of the World. Currently, Asia Pacific is the leading market, accounting for the majority of the global share. • Competitive Landscape: • The competitive landscape of the market has also been examined with some of the key players. • ABB Group • Siemens AG • WEG SA • Regal Beloit • TECO E&M/TECO-Westinghouse • In case you have a very specific customized or specific niche needs, we can work around the scope of work and assist you with the tailor made solution. The topics covered could be technology, markets, competition, pricing trends, P&L analysis, cost analysis, price bench marking or it could also be supplementing you with the weekly or fortnight reports.

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13. Report Description and Highlights Report Description © 2018 IMARC All Rights Reserved This Publication and all it’s contents unless otherwise mentioned are copyrighted in the name of International Market Analysis Research and Consulting (IMARC). No part of this publication may be reproduced, repackaged, redistributed or resold in whole or in any part. The publication may also not be used in any form or by and means graphic electronic or mechanical, including photocopying, recording, taping or by information storage or retrieval, or by any other form, without the express consent of International Market Analysis Research and Consulting (IMARC). Disclaimer: All contents and data of this publication, including forecasts, data analysis and opinion have been based on information and sources believed to be accurate and reliable at the time of publishing. International Market Analysis Research and Consulting makes no representation of warranty of any kind as to the accuracy or completeness of any Information provided. IMARC accepts no liability whatsoever for any loss or damage resulting from opinion, errors or inaccuracies if any found this publication. IMARC, IMARC Group and Global Therapy Insight Series are registered trademarks of International Market Analysis Research and Consulting. All other trademarks used in this publication are registered trademarks of their respective companies.

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