Global Motor Repair and Maintenance Market Overview
According to SPER Market Research, the Global Motor Repair and Maintenance Market is estimated to reach USD 41.40 billion by 2033 with a CAGR of 2.34%.
Electric motors can be found in compressors, machine tools, and industrial fans in a variety of industries ranging from food and beverage to mining. Routine preventative maintenance (PM) inspections for electric motors are vital because they have a significant impact on competitiveness and efficiency, ensuring that such motors are powerful. The overall procedure includes visual inspection, controls for the switch and brush, a check for the engine winding, and a bearing inspection. In fact, maintaining electric motors is less expensive than replacing the complete system. The maintenance control procedure includes motor repair and maintenance, as well as a visual assessment, motor winding check, and electric motor bearing inspection. Electric motors are widely used in a variety of industries, including compressors, industrial fans, and others. It is an essential component of any business because its effectiveness determines its competitiveness and profitability. In recent years, several end-users have begun to seek viable repair and maintenance solutions targeted at preventing catastrophic breakdowns, decreasing downtimes, and preventing serious motor damage.
Exploring the Growth Drivers of the Global Motor Repair and Maintenance Industry.
Preventive maintenance of motors reduces risk, saves energy, extends equipment life, and decreases downtime. The widespread use of electric motors in numerous end-use sectors such as HVAC, mining, food and beverage, and so on is propelling the global motor repair and maintenance market forward. Aside from that, as automation has increased, the use of electric motors has increased dramatically in a variety of industries. Automation advancements are changing the nature of motor repair and maintenance, including the type of specialist equipment and expertise required. The use of complex machinery is expected to increase demand for motor repair and maintenance services in the coming years.
What challenges does the Global Motor Repair and Maintenance Market face?
The Global Motor Repair and Maintenance Market faces a number of obstacles. One of them could be technological developments; as technology advances, motors become more complex, necessitating specific skills and expertise for maintenance and repair. The market's scarcity of skilled technicians and mechanics presents a challenge for the sector. Furthermore, the motor repair and maintenance sector is very competitive, with many established players and new entrants striving for market dominance. This makes it challenging for businesses to maintain profitability and growth.
In what ways has the COVID-19 pandemic affected Global Motor Repair and Maintenance Market?
The Global Motor Repair and Maintenance Market has been significantly impacted by the COVID-19 pandemic. The pandemic has produced supply chain interruptions, reducing the availability of spare parts and components required for motor repair and maintenance. Demand for motor repair and maintenance services has decreased as a result of the pandemic, particularly in industries such as automotive, aerospace, and manufacturing, which have been particularly badly hit. The epidemic has produced a global economic slowdown, affecting the financial viability of enterprises in the motor repair and maintenance industry, particularly small and medium-sized businesses. Due to travel restrictions, quarantines, and other considerations, the pandemic has resulted in labour shortages, particularly for skilled technicians and mechanics.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2019-2033 |
| Base year considered | 2022 |
| Forecast period | 2023-2033 |
| Segments covered | By Type, By Service, By End Use
|
| Regions covered | North America, Europe, Asia Specific, Middle East and Africa, South America, Others.
|
| Companies Covered | ABB Limited, Regal Rexnord Corporation, Siemens Aktiengesellschaft, TECO E&M/TECO-Westinghouse, WEG Equipamentos Eletricos SA, Others
|
Key Target Audience:
- Government Agencies
- Investors and Stakeholders
- Motor Manufacturers
- Motor Repair and Maintenance Service Providers
Global Motor Repair and Maintenance Market Segmentation:
1. By Type:
- Global Motor Repair and Maintenance Market Value Share and Forecast, By Type, 2023-2033
- General Repair
- Overhaul
2. By Service:
- Global Motor Repair and Maintenance Market Value Share and Forecast, By Service, 2023-2033
- Off-Site Service
- On-Site Service
3. By End User:
- Global Motor Repair and Maintenance Market Value Share and Forecast, By End User, 2023-2033
- Food and Beverage
- HVAC
- Mining
- Utilities
- Others
4. By Region:
- Asia-Pacific
- Europe
- Middle East & Africa
- North America
- Latin America
Key Topics Covered in the Report:
- Global Motor Repair and Maintenance Market Size (FY’2023-FY’2033)
- Overview of Global Motor Repair and Maintenance Market
- Segmentation of Global Motor Repair and Maintenance Market By Type (General Repair, Overhaul)
- Segmentation of Global Motor Repair and Maintenance Market By Service (Off-Site Service, On-Site Service)
- Segmentation of Global Motor Repair and Maintenance Market By End-User (Food and Beverage, HVAC, Mining, Utilities, Others)
- Statistical Snap of Global Motor Repair and Maintenance Market
- Growth Analysis of Global Motor Repair and Maintenance Market
- Problems and Challenges in Global Motor Repair and Maintenance Market
- Competitive Landscape in the Global Motor Repair and Maintenance Market
- Impact of COVID-19 and Demonetization on Global Motor Repair and Maintenance Market
- Details on Recent Investment in Global Motor Repair and Maintenance Market
- Competitive Analysis of Global Motor Repair and Maintenance Market
- Key Players in the Global Motor Repair and Maintenance Market
- SWOT Analysis of Global Motor Repair and Maintenance Market
- Global Motor Repair and Maintenance Market Future Outlook and Projections (FY’2023-FY’2033)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report
1.2. Market segment analysis
2. Research Methodology
2.1. Research data source
2.1.1. Secondary Data
2.1.2. Primary Data
2.1.3. SPER’s internal database
2.1.4. Premium insight from KOL’s
2.2. Market size estimation
2.2.1. Top-down and Bottom-up approach
2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis
4.1.1. Drivers
4.1.2. Restraints
4.1.3. Opportunities
4.1.4. Challenges
4.2. COVID-19 Impacts of the Global Motor Repair and Maintenance Market
5. Market variable and outlook
5.1. SWOT Analysis
5.1.1. Strengths
5.1.2. Weaknesses
5.1.3. Opportunities
5.1.4. Threats
5.2. PESTEL Analysis
5.2.1. Political Landscape
5.2.2. Economic Landscape
5.2.3. Social Landscape
5.2.4. Technological Landscape
5.2.5. Environmental Landscape
5.2.6. Legal Landscape
5.3. PORTER’s Five Forces
5.3.1. Bargaining power of suppliers
5.3.2. Bargaining power of buyers
5.3.3. Threat of Substitute
5.3.4. Threat of new entrant
5.3.5. Competitive rivalry
5.4. Heat Map Analysis
6. Competitive Landscape
6.1. Global Motor Repair and Maintenance Market Manufacturing Base Distribution, Sales Area, Product Type
6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Global Motor Repair and Maintenance Market
7. Global Motor Repair and Maintenance Market, By Type (USD Million)
7.1. Global Motor Repair and Maintenance Market Value Share and Forecast, By Type, 2023-2033
7.2. General Repair
7.2.1. Bearing
7.2.2. Rotor
7.2.3. Stator
7.2.4. Others
7.3. Overhaul
8. Global Motor Repair and Maintenance Market, By Service (USD Million)
8.1. Global Motor Repair and Maintenance Market Value Share and Forecast, By Service, 2023-2033
8.2. Off-Site Service
8.3. On-Site Service
9. Global Motor Repair and Maintenance Market, By End User (USD Million)
9.1. Global Motor Repair and Maintenance Market Value Share and Forecast, By End User, 2023-2033
9.2. Food and Beverage
9.3. HVAC
9.4. Mining
9.5. Utilities
9.5.1. Electricity
9.5.2. Gas
9.5.3. Water
9.6. Others
10. Global Motor Repair and Maintenance Market Forecast, 2019-2033 (USD Million)
10.1. Global Motor Repair and Maintenance Market Size and Market Share
11. Global Motor Repair and Maintenance Market, By Type, 2019-2033 (USD Million)
11.1. Global Motor Repair and Maintenance Market Size and Market Share By Type (2019-2026)
11.2. Global Motor Repair and Maintenance Market Size and Market Share By Type (2027-2033)
12. Global Motor Repair and Maintenance Market, By Service, 2019-2033 (USD Million)
12.1. Global Motor Repair and Maintenance Market Size and Market Share By Service (2019-2026)
12.2. Global Motor Repair and Maintenance Market Size and Market Share By Service (2027-2033)
13. Global Motor Repair and Maintenance Market, By End User, 2019-2033 (USD Million)
13.1. Global Motor Repair and Maintenance Market Size and Market Share By End User (2019-2026)
13.2. Global Motor Repair and Maintenance Market Size and Market Share By End User (2027-2033)
14. Global Motor Repair and Maintenance Market, By Region, 2019-2033 (USD Million)
14.1. Global Motor Repair and Maintenance Market Size and Market Share By Region (2019-2026)
14.2. Global Motor Repair and Maintenance Market Size and Market Share By Region (2027-2033)
14.3. Asia-Pacific
14.3.1. Australia
14.3.2. China
14.3.3. India
14.3.4. Japan
14.3.5. South Korea
14.3.6. Rest of Asia-Pacific
14.4. Europe
14.4.1. France
14.4.2. Germany
14.4.3. Italy
14.4.4. Spain
14.4.5. United Kingdom
14.4.6. Rest of Europe
14.5. Middle East and Africa
14.5.1. Kingdom of Saudi Arabia
14.5.2. United Arab Emirates
14.5.3. Rest of Middle East & Africa
14.6. North America
14.6.1. Canada
14.6.2. Mexico
14.6.3. United States
14.7. Latin America
14.7.1. Argentina
14.7.2. Brazil
14.7.3. Rest of Latin America
15. Company Profile
15.1. ABB Limited
15.1.1. Company details
15.1.2. Financial outlook
15.1.3. Product summary
15.1.4. Recent developments
15.2. Regal Rexnord Corporation
15.2.1. Company details
15.2.2. Financial outlook
15.2.3. Product summary
15.2.4. Recent developments
15.3. Siemens Aktiengesellschaft
15.3.1. Company details
15.3.2. Financial outlook
15.3.3. Product summary
15.3.4. Recent developments
15.4. TECO E&M/TECO-Westinghouse
15.4.1. Company details
15.4.2. Financial outlook
15.4.3. Product summary
15.4.4. Recent developments
15.5. WEG Equipamentos Eletricos SA
15.5.1. Company details
15.5.2. Financial outlook
15.5.3. Product summary
15.5.4. Recent developments
15.6. Others
16. List of Abbreviations
17. Reference Links
18. Conclusion
19. Research Scope
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
