The global industrial services market size was estimated at USD 32.65 billion in 2023 and is projected to grow at a CAGR of 6.5% from 2024 to 2030. This growth can be attributed to the rapid progress in industrial automation, IoT, and AI significantly boosting demand for sophisticated industrial services. Companies are increasingly integrating these technologies to improve operational efficiency, reduce downtime, and enhance productivity. This technological integration not only optimizes processes but also enables the development of more advanced and reliable industrial services.

There is also a growing emphasis on predictive maintenance, which relies on data analytics and real-time monitoring to anticipate equipment failures and optimize maintenance schedules. The adoption of predictive maintenance solutions helps industries reduce operational costs and extend the lifespan of machinery, thus driving demand for these services. Increasing industrialization, especially in emerging economies, contributes to the expanding market. Regions such as Asia-Pacific are experiencing significant growth in manufacturing and production activities, leading to higher demand for industrial services. This industrial expansion in emerging markets is a key factor in overall market growth. 

Stringent regulatory requirements also play a crucial role. Compliance with safety and environmental regulations necessitates regular maintenance and servicing of industrial equipment, ensuring a steady demand for industrial services to maintain compliance and avoid penalties. These regulatory pressures drive the need for ongoing maintenance and upgrades. 

Industrial Services Market Report Highlights

• Based on type, the operational improvement & maintenance segment led the market with the largest revenue share of 47.65% in 2023, due to its critical role in enhancing efficiency, reducing downtime, and prolonging equipment lifespan. 
• Based on application, the distributed control system(DCS) segment led the market with the largest revenue share of 20.14% in 2023, due to its essential role in managing complex industrial processes with high reliability and precision. 
• Based on end use, the oil and gas segment led the market with the largest revenue share of 28.36% in 2023. It is expected to maintain its dominance from 2024 to 2030, due to the sector's substantial reliance on industrial services for operational efficiency, safety, and regulatory compliance. 
• North America dominated the industrial services market share of 34.66% in 2023, primarily due to its advanced industrial infrastructure and high level of technological adoption. The presence of key industries, including oil and gas, pharmaceuticals, and manufacturing, drives significant demand for industrial services.

Global Industrial Services Market Report Segmentation

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the global industrial services market report based on type, application, end-use, and region.

• Type Outlook (Revenue, USD Million, 2017 - 2030)
  • Engineering & Consulting
  • Installation & Commissioning
  • Operational Improvement & Maintenance
    
    
• Application Outlook (Revenue, USD Million, 2017 - 2030)
  • Distributed Control System (DCS)
  • Programmable Controller Logic (PLC)
  • Supervisory Control and Data Acquisition (SCADA)
  • Electric Motors & Drives
  • Valves & Actuators
  • Manufacturing Execution System
  • Others
    
    
• End Use Outlook (Revenue, USD Million, 2017 - 2030)
  • Oil and Gas
  • Chemicals
  • Automotive
  • Pharmaceuticals
  • Others
    
    
• Regional Outlook (Revenue, USD Million, 2017 - 2030)
  • North America
    • US
    • Canada
    • Mexico
  • Europe
    • UK
    • Germany
    • France
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
  • Latin America
    • Brazil
  • Middle East and Africa (MEA)
    • KSA
    • UAE
    • South Africa

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