Motor Repair and Maintenance Market Size to Expand at a CAGR of 3.64% during 2019-2024

1. Global Motor Repair and Maintenance Market Research Report and Forecast Report Edition: 2019 Copyright © IMARC Service Pvt Ltd. All Rights Reserved © 2019 IMARC All Rights Reserved

2. About IMARC Group Report Description The International Market Analysis Research and Consulting Group is a leading adviser on management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses. IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, chemicals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise. IMARC’s tailored approach combines unfathomable insight into the dynamics of companies and markets with close cooperation at all levels of the client organization. This ensures that our clients achieve unmatchable competitive advantage, build more proficient organizations, and secure lasting results.

3. Report Description and Highlights Report Description Global Motor Repair and Maintenance Market Overview: According to the recent 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 US$ 29.37 Billion in 2018. Motor repair and maintenance refers to the procedure of maintenance check which often include visual inspection, motor winding test and bearing inspection of an electric motor. Electric motors find extensive applicability across divers industries where they are installed in compressors, industrial fans, etc. They from an essential component of a business depend upon their efficient performance. Over the past few years, various end users have started opting for effective repair and maintenance service packages which aim at averting critical breakdowns, thereby reducing downtime and preventing severe damage to the motor. Motor Repair and Maintenance Market Trends: Cost-effectiveness is a key benefit that is offered by preventive maintenance (PM) checks, which is driving the market growth. It is always a more convenient option to repair a regular maintenance motor and undertaken preventive measures to avoid further damage than replacing the entire machine.

4. Report Description and Highlights Report Description Along with this, the utilization of intricate machinery is expected to significantly raise the demand for specialty motor repair and maintenance services. Owing to the aforementioned factors, the global motor repair and maintenance market size, is expected to reach US$ 36.38 Billion by 2024, expanding at a CAGR of 3.64% during 2019-2024.

5. Report Description and Highlights Report Description • Regular maintenance also reduces the risk factor and improves the lifespan of machinery. Additionally, owing to technological advancements, there has been a significant rise in the employment of electric motors for automating various applications across industries such as HVAC, mining, and food and beverages. • Key Market Segmentation: • Market Segmentation by Type • General Repair • Bearing • Stator • Rotor • Others • Overhaul • Based on the type, the market has been divided as general repair and overhaul. Amongst these, the general repair segment accounts for the majority of the total market share. It is further categorized into bearing, stator, rotor and others.

6. Report Description and Highlights Report Description • Market Segmentation by Service • On-site Service • Off-site Service • On the basis of the service, off-site service represents the biggest segment, followed by on-site service. • Market Segmentation by Region • North America • Europe • Asia Pacific • Rest of the World • On the basis of geography, the market has been segregated into North America, Europe, Asia Pacific and Rest of the World. Asia Pacific currently holds the leading position in the market. • Market Segmentation by End Use Industry

7. Report Description and Highlights Report Description • Utilities (Water, electricity and gas) • HVAC • Food and Beverage • Mining • Others • Based on the end use, the market has been classified into utilities (water, electricity and gas), HAVC, food and beverages, mining and others. Currently, utilities represent the dominant market segment. • 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

8. Report Description and Highlights Report Description • For more information, click here: https://www.imarcgroup.com/motor-repair-maintenance-market

9. Partial List of Clients • We are the trusted business partners to the world's leading corporates, governments, and institutions A partial List of our Clients

10. Partial List of Clients • We are the trusted business partners to the world's leading corporates, governments, and institutions A partial List of our Clients

11. Report Description and Highlights Report Description © 2019 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.

12. Contact Us FOR MORE DETAILS Visit us at : https://www.imarcgroup.com Stay With Us: • TELEPHONE: +1-631-791-1145 E-MAIL: sales@imarcgroup.com