North America Engine Repair and Maintenance Market Size, Share, Price, Trends, Growth, Analysis, Key Players, Outlook, Report, Overview, Forecast 2022-2027 | EMR Inc.

“North America Engine Repair and Maintenance Market Report and Forecast 2022-2027”

North America Engine Repair and Maintenance Market to be Driven by Growing Use of Engines in End-Use Sectors During the Forecast Period 2022-2027

Expert Market Research’s new report titled “North America Engine Repair and Overhaul Market Size, Share, Price, Trends, Growth, Report and Forecast 2022-2027” provides an in-depth analysis of the North American engine repair and maintenance market, assessing the market based on its segments such as types, services, end uses and major countries. The report tracks the latest industry trends and studies their impact on the overall market. It also assesses market dynamics, covering key demand and price indicators, as well as market analysis based on SWOT and Porter’s Five Forces models.

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Key highlights of the report include:

Market Overview (2017-2027)

• Historical market size (2021): 4,083.1 million USD
• Forecast CAGR (2022-2027): 3.50%
• Forecast market size (2027): 4,995.2 million USD

The rapid industrialization and application of engines in various industries in the North American region is driving the engine repair and maintenance market. The widespread adoption of electric motors due to their higher efficiency and lack of fuel usage is contributing to the steady growth of the motor repair and maintenance industry. The numerous benefits of engine repair and maintenance such as reduced risk factors, reduced energy costs, improved operational efficiency and reduced downtime are driving the development of the market . Increasing preventative maintenance checks on engines by multiple end users to increase productivity and profitability is bolstering the growth of engine repair and maintenance industry. All these factors are driving the growth of the market.

Industry definition and major segments

Engine repair and maintenance services are rendered to increase the life of the engines and improve their efficiency. There are different maintenance programs, such as preventive maintenance, predictive maintenance and reactive maintenance. Engine repair and maintenance play a vital role in increasing machine production.

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The engine repair and overhaul industry, by type, can be segmented into:

• General repair
• Revision

The general repair segment can be divided based on type into bearing, stator, and rotor, among others.

On the basis of service, the market is split into:

• On-site service
• Offsite service

On the basis of end-use, the market is segmented into:

• Utilities
• HVAC
• Food and drink
• Mining
• Others

Regional engine repair and overhaul markets include the United States of America and Canada.

Market trends

The increasing use of motors in the heating, ventilation and air conditioning (HVAC) industry, due to increased purchasing power, is driving the expansion of the repair and maintenance industry. engine maintenance. The availability of a full line of reliable, high performance engines for all applications invigorates the engine repair and maintenance industry in the North American region. Moreover, the excellent customer service offered by the companies also propels the industry. For example: Siemens AG guarantees the repair of motors using factory drawings, factory test procedures and genuine Siemens parts. The company also offers express motor delivery options in emergency situations. Moreover, advancements in automation industry, installation of complex machinery and investments made by industry players are expected to propel the engine repair and maintenance industry during the forecast period.

Main market players

Major market players include ABB Ltd., Siemens AG, Renown Electric, K+S Services, Inc., and TECO-Westinghouse, among others.

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

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* At Expert Market Research, we always strive to give you the latest information. The figures in the article are only indicative and may differ from the actual report.

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