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North America Motor Repair and Maintenance Market Size: By Type: General Repair, Overhaul; By Service: On-site Service, Off-site Service; By End Use: Utilities, HVAC, Food and Beverage, Mining, Others; Regional Analysis; Market Dynamics: SWOT Analysis, Porter’s Five Forces Analysis; Competitive Landscape; 2024-2032
North America Motor Repair and Maintenance Market Outlook
North America motor repair and maintenance market stood at a value of around USD 4373.92 million in 2023. The market is further expected to grow in the forecast period of 2024-2032 at a CAGR of 3.50% to reach USD 5932.73 million by 2032.
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Overhaul Segment Holds a Significant Share in the North America Motor Repair and Maintenance Industry
Overhauling is highly preferred for complex motors which require regular checks. Overhaul is cost-effective and reduces labour costs. Overhauling also extends the life span of motors and can prevent critical breakdown. Additionally, overhauling restores the performance of motors, thereby increasing their productivity. These factors are aiding the growth of the segment. Furthermore, overhauling is less time consuming than other repair and maintenance techniques, which is likely to be a major driving factor in the market growth.
In North America, the advancements in the automation industry are leading to a shift in the way repair and maintenance services are carried out. The employment of intricate machinery in various end use industries of the region is expected to enhance the demand for these services. Further, the rising expenditure on preventive maintenance (PM) checks of electric motors owing to their ability to lessen the risk factor, save energy, reduce downtime, and increase equipment life is expected to aid the market growth in the region.
Motor Repair and Maintenance: Market Segmentation
Motor repair and maintenance is defined as the process of maintaining and repairing a motor to improve its functioning and enhance its internal combustion. Motor repair and maintenance includes testing, monitoring, fixing, and replacing elements in a system. In addition to this, motor repair and maintenance also includes dynamic balancing of axles, rotors, pumps, and fans, among others.
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Based on type, the market can be bifurcated into:
- General Repair
- Overhaul
The general repair segment can be further divided based on type into bearing, stator, and rotor, among others.
On the basis of service, the market is segmented into:
- On-site Service
- Off-site Service
The different end uses considered in the market report are as follows:
- Utilities
- HVAC
- Food and Beverage
- Mining
- Others
The regional markets for motor repair and maintenance in North America include the United States and Canada.
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Rising Demand in Various End Use Sectors to Boost the Growth of the North America Motor Repair and Maintenance Industry
The rising application of motor repair and maintenance in various end use industries including utilities, HVAC, food and beverage, oil and gas, and mining to boost the operational efficiency of machinery is driving the market. In addition to this, in manufacturing and industrial facilities, the increasing focus on maintaining equipment and motor systems to enhance the business profitability and productivity is anticipated to augment the market in the forecast period. Furthermore, the increasing demand for repairing a motor instead of replacing it with a new one in order to reduce its associated costs is likely to be a key driving factor in the market growth in North America.
Key Industry Players in the North America Motor Repair and Maintenance Market
The report gives a detailed analysis of the following key players in the North America 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 AG
- Renown Electric
- K+S Services, Inc.
- 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:
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| Breakup by Type |
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| Breakup by Service |
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| Breakup by End Use |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| 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. |
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
7 Opportunities and Challenges in the Market
8 North America Motor Repair and Maintenance Market Analysis
8.1 Key Industry Highlights
8.2 North America Motor Repair and Maintenance Historical Market (2018-2023)
8.3 North America Motor Repair and Maintenance Market Forecast (2024-2032)
8.4 North America Motor Repair and Maintenance Market by Type
8.4.1 General Repair
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.1.3 Breakup by Type
8.4.1.3.1 Bearing
8.4.1.3.2 Stator
8.4.1.3.3 Rotor
8.4.1.3.4 Others
8.4.2 Overhaul
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.5 North America Motor Repair and Maintenance Market by Service
8.5.1 On-site Service
8.5.1.1 Historical Trend (2018-2023)
8.5.1.2 Forecast Trend (2024-2032)
8.5.2 Off-site Service
8.5.2.1 Historical Trend (2018-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.6 North America Motor Repair and Maintenance Market by End Use
8.6.1 Utilities
8.6.1.1 Historical Trend (2018-2023)
8.6.1.2 Forecast Trend (2024-2032)
8.6.2 HVAC
8.6.2.1 Historical Trend (2018-2023)
8.6.2.2 Forecast Trend (2024-2032)
8.6.3 Food and Beverage
8.6.3.1 Historical Trend (2018-2023)
8.6.3.2 Forecast Trend (2024-2032)
8.6.4 Mining
8.6.4.1 Historical Trend (2018-2023)
8.6.4.2 Forecast Trend (2024-2032)
8.6.5 Others
8.7 North America Motor Repair and Maintenance Market by Country
8.7.1 United States
8.7.2 Canada
9 Regional Analysis
9.1 United States
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.1.3 Breakup by Type
9.1.4 Breakup by Service
9.1.5 Breakup by End Use
9.1.6 Breakup by Region
9.1.6.1 Central Canada
9.1.6.2 The Prairie Provinces
9.1.6.3 West Coast
9.1.6.4 Others
9.2 Canada
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
9.2.3 Breakup by Type
9.2.4 Breakup by Service
9.2.5 Breakup by End Use
9.2.6 Breakup by Region
9.2.6.1 South
9.2.6.2 MidWest
9.2.6.3 West
9.2.6.4 North East
10 Market Dynamics
10.1 SWOT Analysis
10.1.1 Strengths
10.1.2 Weaknesses
10.1.3 Opportunities
10.1.4 Threats
10.2 Porter’s Five Forces Analysis
10.2.1 Supplier’s Power
10.2.2 Buyer’s Power
10.2.3 Threat of New Entrants
10.2.4 Degree of Rivalry
10.2.5 Threat of Substitutes
10.3 Key Indicators for Demand
10.4 Key Indicators for Price
11 Value Chain Analysis
12 Competitive Landscape
12.1 Market Structure
12.2 Company Profiles
12.2.1 ABB Ltd.
12.2.1.1 Company Overview
12.2.1.2 Product Portfolio
12.2.1.3 Demographic Reach and Achievements
12.2.1.4 Certifications
12.2.2 Siemens AG
12.2.2.1 Company Overview
12.2.2.2 Product Portfolio
12.2.2.3 Demographic Reach and Achievements
12.2.2.4 Certifications
12.2.3 Renown Electric
12.2.3.1 Company Overview
12.2.3.2 Product Portfolio
12.2.3.3 Demographic Reach and Achievements
12.2.3.4 Certifications
12.2.4 K+S Services, Inc.
12.2.4.1 Company Overview
12.2.4.2 Product Portfolio
12.2.4.3 Demographic Reach and Achievements
12.2.4.4 Certifications
12.2.5 TECO-Westinghouse
12.2.5.1 Company Overview
12.2.5.2 Product Portfolio
12.2.5.3 Demographic Reach and Achievements
12.2.5.4 Certifications
12.2.6 Others
13 Key Trends and Developments in the Market
List of Key Figures and Tables
1. North America Motor Repair and Maintenance Market: Key Industry Highlights, 2018 and 2032
2. North America Motor Repair and Maintenance Historical Market: Breakup by Type (USD Million), 2018-2023
3. North America Motor Repair and Maintenance Market Forecast: Breakup by Type (USD Million), 2024-2032
4. North America Motor Repair and Maintenance Historical Market: Breakup by Service (USD Million), 2018-2023
5. North America Motor Repair and Maintenance Market Forecast: Breakup by Service (USD Million), 2024-2032
6. North America Motor Repair and Maintenance Historical Market: Breakup by End Use (USD Million), 2018-2023
7. North America Motor Repair and Maintenance Market Forecast: Breakup by End Use (USD Million), 2024-2032
8. North America Motor Repair and Maintenance Historical Market: Breakup by Country (USD Million), 2018-2023
9. North America Motor Repair and Maintenance Market Forecast: Breakup by Country (USD Million), 2024-2032
10. North America Motor Repair and Maintenance Market Structure
Key Questions Answered in the Report
In 2023, the North America motor repair and maintenance market attained a value of nearly USD 4373.92 million.
The market is estimated to grow at a CAGR of 3.50% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach USD 5932.73 million by 2032.
The major regions in the industry are the United States and Canada.
The major drivers of the industry, such as the expansion of the major end use sectors, growing investments to enhance operational efficiency of machinery, and rapid automation, are expected to aid the market growth.
The key market trends guiding the growth of the industry include the growing adoption of complex and advanced equipment and machinery in various industries.
General repair and overhaul are the major types included in the market report.
On-site service and off-site service are the different services explored in the market report.
Utilities, HVAC, food and beverage, and mining, among others are the significant end uses of motor repair and maintenance.
The major players in the industry are ABB Ltd., Siemens AG, Renown Electric, K+S Services, Inc., and TECO-Westinghouse, among others.
Analyst Review
The North America motor repair and maintenance market attained a value of USD 4373.92 million in 2023, driven by the growing automation across various end use sectors and the rising expenditure on preventive maintenance of motors. Aided by the growing technological advancements, the market is expected to witness a further growth in the forecast period of 2024-2032, growing at a CAGR of 3.50%. The market is projected to reach USD 5932.73 million by 2032.
EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. Based on type, the market is divided into general repair and overhaul. On the basis of service, the market is divided into on-site service and off-site service. Based on end use, the market is categorised into utilities, HVAC, food and beverage, and mining, among others. T he major regional markets for motor repair and maintenance in North America are the United States and Canada. The key players in the above market include ABB Ltd., Siemens AG, Renown Electric, K+S Services, Inc., and TECO-Westinghouse, among others.
EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.
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