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Monday, May 23, 2022

North America Motor Repair And Maintenance Market To Be Driven By The Expanding Use Of Motors In End Use Sectors In The Forecast Period Of 2022-2027

The new report by Expert Market Research titled, ‘North America Motor Repair and Maintenance Market Size, Share, Price, Trends, Growth, Report and Forecast 2022-2027’, gives an in-depth analysis of the North America motor repair and maintenance market, assessing the market based on its segments like types, services, end uses, and major countries. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.

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The key highlights of the report include:

Market Overview (2017-2027)

• Historical Market Size (2021): USD 4083.1 Million
• Forecast CAGR (2022-2027): 3.50%
• Forecast Market Size (2027): USD 4995.2 Million

The rapid industrialisation and the application of motors in diverse industries in the North American region are driving the market for motor repair and maintenance. The wide adoption of electric motors owing to their higher efficiency and no use of fuels is contributing to the steady growth of the motor repair and maintenance industry. The numerous benefits of repair and maintenance of motors, such as reduced risk factors, lesser energy costs, improved operational efficiency, and reduced downtime, are leading to the development of the market. The growing preventive maintenance checks on motors by several end-users to increase productivity and profitability is bolstering the growth of motor repair and maintenance industry. All these factors are providing impetus to market growth.

Industry Definition and Major Segments

The motor repair and maintenance services are rendered to increase the lifespan of motors and improve their efficiency. There are different maintenance programs, such as preventive maintenance, predictive maintenance, and reactive maintenance. The repair and maintenance of motors play a critical role in boosting machinery production.

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The motor repair and maintenance industry, by type can be segmented 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 bifurcated into:

• On-site Service
• Off-site Service

Based on end use, the market is segmented into:

• Utilities
• Food and Beverage
• Mining
• Others

The regional markets for motor repair and maintenance include the United States of America and Canada.

Market Trends

The increasing utilisation of motors in the Heating, Ventilation, and Air Conditioning (HVAC) industry, owing to the rising purchasing power, is leading to the expansion of the motor repair and maintenance industry. The availability of a comprehensive range of reliable and high-efficiency motors for all applications is invigorating the motor repair and maintenance industry in the North American region. In addition, the excellent customer service offered by companies is also propelling the industry. For instance: Siemens AG guarantees the repair of motors using factory drawings, factory testing procedures, and genuine Siemen parts. The company also provides express motor delivery options in emergency situations. Moreover, advancements in the automation industry, installation of intricate machinery, and the investments made by the industry players are expected to propel the motor repair and maintenance industry in the forecast period.

Key Market Players

The major players in the market are ABB Ltd., Siemens AG, Renown Electric, K+S Services, Inc., and TECO-Westinghouse, among others.

The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.

About Us:

Expert Market Research is a leading business intelligence firm, providing custom and syndicated market reports along with consultancy services for our clients. We serve a wide client base ranging from Fortune 1000 companies to small and medium enterprises. Our reports cover over 100 industries across established and emerging markets researched by our skilled analysts who track the latest economic, demographic, trade and market data globally.

At Expert Market Research, we tailor our approach according to our clients’ needs and preferences, providing them with valuable, actionable and up-to-date insights into the market, thus, helping them realize their optimum growth potential. We offer market intelligence across a range of industry verticals which include Pharmaceuticals, Food and Beverage, Technology, Retail, Chemical and Materials, Energy and Mining, Packaging and Agriculture.

Media Contact

Company Name: EMR Inc.
Contact Person: Mathew Williams, Business Consultant
Toll Free Number: US +1-415-325-5166 | UK +44-702-402-5790
Address: 30 North Gould Street, Sheridan, WY 82801, USA
City: Sheridan
State: Wyoming
Country: United States

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*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.


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