North American Industrial Services Market, Forecast to 2023

North American Industrial Services Market, Forecast to 2023

Increasing Awareness on Advanced Services is Expected to Drive the Growth of Industrial Services Market

RELEASE DATE
25-Sep-2017
REGION
North America
Deliverable Type
Market Research
Research Code: K101-01-00-00-00
SKU: IA01436-NA-MR_20812
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Description

The aim of this study is to evaluate the opportunities for the industrial services market across several industry sectors in North America assessing the trends across the region during the study period.

This study covers the growth opportunities for the a whole array of Industrial Services across Pumps, Valves, and Compressors, across the region and covers topics on how changing landscape and needs and requirements are driving the need for adoption of effective aftermarket services and MRO that are smarter and crisply address every challenge and issue that customers face in the current scenario. The scope of the study includes pump services used in oil and gas, chemicals and petrochemicals, power generation, water and wastewater treatment, food and beverage, and other industries such as pharmaceuticals, pulp and paper, and metals and mining. Services include maintenance, repair, and overhaul (MRO), installation and commissioning (I&C), value-added services (VAS), and decommissioning (Decom).

North America has plenty of development and exploration activities happening, which is set to spur the demand for pump and valves and compressors services throughout the forecast period. As oil and gas, water treatment, and power generation industries will continue to invest in advanced pumping solutions, a greater demand for pump services is expected. The study concludes with an analysis of forecasted growth trends of the process equipment market during the forecast period.

Key takeaways from Frost & Sullivan’s research on this market concludes that end-user focus on reliability and safety is expected to drive growth of the services market in the oil & gas and power generation industries. All end-user industries are expected to exhibit a high demand for spare parts and consumables. In addition, MRO services continue to top the revenues for the industrial services market, with stable demand for regular services and maintenance. However, VAS has risen significantly in the market, with increasing demand for condition monitoring and advanced automation solutions. Due to fewer upcoming projects, end users are shifting their approach from capital expenditure (CAPEX) to operational expenditure (OPEX), which will drive demand for the services market. Ongoing projects with assets spur assets maintenance costs. Digital transformation is ushering a set of disruptive technologies that is transforming the manufacturing and process industries and upending the existing vendor ecosystem.

Some of the key influencers of the NA Industrial Services market include improving levels of safety and reliability that puts greater focus on pump services and maintenance. Other factors include increasing awareness on advanced services that is expected to drive the growth of pump services market, surge in new projects leads to an increase in services such as Installation, testing and commissioning activities and end user’s increased preferences for longer operational lifetime of existing compressors that is likely to result in the growth of the services market. In addition, increasing complexity of compressors, especially in the oil & gas and power generation industries, increases end-user focus on reliability and safety are some of the key drivers of the market.

Major dampeners of growth included pricing pressures due to commodity applications that are dampening demand for services market and slower than expected investment pace that is inherently affecting demand for valves, both in terms of replacements and services. For the compressors market, increased demand for oil-free compressors was observed as one of the biggest factors for the reduction in maintenance requirements. In addition, reducing Greenfield investments due to sovereign debt crisis is also expected to restrict addressable client base.

Key Conclusions:
Shift from preventive/predictive maintenance to proactive maintenance of heavy-duty centrifugal pumps is a growing opportunity in oil and gas and chemicals and petrochemicals industries.

RESEARCH: INFOGRAPHIC

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Table of Contents

Executive Summary—Key Findings

Market Engineering Measurements

Executive Summary—CEO’s Perspective

Scope of the Study

Market Overview

Key Questions this Study will Answer

Market Overview—Segmentation by Product type

Market Overview—Segmentation by Region

Market Overview—Segmentation by End-user Industry

Market Engineering Measurements

Revenue Forecast

Industrial Services Market in NA—Business Case

Mapping of Service Providers

Comparing In-House vs. External Industrial Servicing

Growing Trend of Industrial Outsourcing Services

Major Growth Opportunities

Growth Opportunity 1—Globalization

Growth Opportunity 2—Industry Convergence

Strategic Imperatives for Success and Growth

Market Overview—Impact of Mega Trends on the Pumps Industry

Market Engineering Measurements

Market Drivers

Market Restraints

Revenue Forecast

Pump Services Market—Types of Maintenance

Pump Service Type and End-user Requirements

Service Types and Supply Channel

Pump Services—Core Competences and Key Success Factors

Pump Services for the End-user Industry

Voice of Key Stakeholders

Pumps Competitive Overview

Market Engineering Measurements

Market Drivers

Market Restraints

Revenue Forecast

Compressor Services Market and End-user Requirements

Compressor Service Type and End-user Requirements

Key End-user Requirements—Compressors

Service Types and Supply Channel

Compressor Services—Core Competencies and Key Success Factors

Compressor Services for the End-user Industry

Voice of Key Stakeholders

Competitive Overview

Market Engineering Measurements

Market Drivers

Market Restraints

Revenue Forecast

Valves and Actuators Services Market

Valves Service Type and End-user Requirements

Valves and Actuators Services—Core Competences

Valves and Actuators Services for the End-user Industry

Voice of Key Stakeholders

Competitive Overview

The Last Word—3 Big Predictions

Legal Disclaimer

List of Figures
  • 1. Total Industrial Services Market: Market Engineering Measurements, NA, 2016
  • 2. Total Industrial Services Market: Mega Trends Impact on Industrial Services Industry, NA, 2016
  • 3. Pump Services Market: Market Engineering Measurements, NA, 2016
  • 4. Pumps Services Market: Key Market Drivers, NA, 2017–2023
  • 5. Pumps Services Market: Key Market Restraints, NA, 2017–2023
  • 6. Pump Services Market: Growth Potential by Service Type and Supply Channel, NA, 2014–2023
  • 7. Pump Services Market: Core Competencies and Key Success Factors, NA, 2016
  • 8. Pumps Services Market: Top 5 Competitors’ Market Share, NA, 2016
  • 9. Compressor Services Market: Market Engineering Measurements, NA, 2016
  • 10. Compressors Services Market: Key Market Drivers, NA, 2017–2023
  • 11. Compressors Services Market: Key Market Restraints, NA, 2017–2023
  • 12. Compressor Services Market: Key End-user Requirements, NA, 2016
  • 13. Compressor Services Market: Growth Potential by Service Type and Channel, NA, 2014–2023
  • 14. Compressor Services Market: Core Competencies and Key Success Factors, NA, 2016
  • 15. Compressor Services Market: Market Share of Top 4 Competitors, NA, 2016
  • 16. Valves Services Market: Market Engineering Measurements, NA, 2016
  • 17. Valves Services Market: Key Market Drivers, NA, 2017–2023
  • 18. Valves Services Market: Key Market Restraints, NA, 2017–2023
  • 19. Valves Services Market: Core Competencies and Key Success Factors, NA, 2016
  • 20. Valves Services Market: Market Share of Top 5 Competitors, NA, 2016
List of Charts
  • 1. Total Industrial Services Market: Market Engineering Measurements, NA, 2016
  • 2. Total Industrial Services Market: Market Segmentation, NA, 2016
  • 3. Total Industrial Services Market: Percent Sales Breakdown by Product Type, NA, 2016
  • 4. Total Industrial Services Market: Percent Sales Breakdown by Region, NA, 2016
  • 5. Total Industrial Services Market: Percent Sales Breakdown by End-user Industry, NA, 2016
  • 6. Total Industrial Services Market: Revenue Forecast, NA, 2014–2023
  • 7. Total Industrial Services Market: Strong Business Case, NA, 2016
  • 8. Total Industrial Services Market: Perpetual Mapping of Service Providers, NA, 2016
  • 9. Total Industrial Services Market: In-House vs. External, NA, 2016
  • 10. Total Industrial Services Market: End-users’ Preference of External Services, NA, 2016
  • 11. Total Industrial Services Market: Key Trends, NA, 2016
  • 12. Total Industrial Services: Penetration Rate, NA, 2016
  • 13. Pumps Services Market: Revenue Forecast, NA, 2014–2023
  • 14. Pump Services Market: Types of Maintenance, NA, 2016
  • 15. Pump Services Market: Revenue Breakdown by Service Type, NA, 2016 and 2023
  • 16. Pump Services Market: Pump Service Type and End-user Requirements, NA, 2016
  • 17. Pump Services Market: Breakdown by Service Type and Supply Channel, NA, 2016
  • 18. Pump Services Market: Market Share by Type of Company, NA, 2016
  • 19. Pump Services Market: Market Share by Size of Company, NA, 2016
  • 20. Compressors Services Market: Revenue Forecast, NA, 2014–2023
  • 21. Compressor Services Market: Percent Revenue Forecast by Service Type, NA, 2016 and 2023
  • 22. Compressor Services Market: Breakdown by Service Type and Channel, NA, 2016
  • 23. Compressor Services Market: Market Shares by Type of Company, NA, 2016
  • 24. Compressor Services Market: Market Shares by Size of Company, NA, 2016
  • 25. Valves Services Market: Revenue Forecast, NA, 2014–2023
  • 26. Valves Services Market: Percent Revenue Forecast by Service Type, NA, 2016 and 2023
  • 27. Valves Services Market: Market Shares by Type of Company, NA, 2016
  • 28. Valves Services Market : Market Shares by Size of Company, NA, 2016
The aim of this study is to evaluate the opportunities for the industrial services market across several industry sectors in North America assessing the trends across the region during the study period. This study covers the growth opportunities for the a whole array of Industrial Services across Pumps, Valves, and Compressors, across the region and covers topics on how changing landscape and needs and requirements are driving the need for adoption of effective aftermarket services and MRO that are smarter and crisply address every challenge and issue that customers face in the current scenario. The scope of the study includes pump services used in oil and gas, chemicals and petrochemicals, power generation, water and wastewater treatment, food and beverage, and other industries such as pharmaceuticals, pulp and paper, and metals and mining. Services include maintenance, repair, and overhaul (MRO), installation and commissioning (I&C), value-added services (VAS), and decommissioning (Decom). North America has plenty of development and exploration activities happening, which is set to spur the demand for pump and valves and compressors services throughout the forecast period. As oil and gas, water treatment, and power generation industries will continue to invest in advanced pumping solutions, a greater demand for pump services is expected. The study concludes with an analysis of forecasted growth trends of the process equipment market during the forecast period. Key takeaways from Frost & Sullivan’s research on this market concludes that end-user focus on reliability and safety is expected to drive growth of the services market in the oil & gas and power generation industries. All end-user industries are expected to exhibit a high demand for spare parts and consumables. In addition, MRO services continue to top the revenues for the industrial services market, with stable demand for regular services and maintenance. However, VAS has risen significantly in the mark
More Information
Deliverable Type Market Research
No Index No
Podcast No
Table of Contents | Executive Summary~ || Executive Summary—Key Findings~ || Market Engineering Measurements~ || Executive Summary—CEO’s Perspective~ | Market Overview~ || Scope of the Study~ || Market Overview~ || Key Questions this Study will Answer~ || Market Overview—Segmentation by Product type~ || Market Overview—Segmentation by Region~ || Market Overview—Segmentation by End-user Industry~ | North America Industrial Services Market~ || Market Engineering Measurements~ || Revenue Forecast~ || Industrial Services Market in NA—Business Case~ || Mapping of Service Providers~ || Comparing In-House vs. External Industrial Servicing~ || Growing Trend of Industrial Outsourcing Services~ | Growth Opportunities and Companies to Action~ || Major Growth Opportunities ~ || Growth Opportunity 1—Globalization~ || Growth Opportunity 2—Industry Convergence~ || Strategic Imperatives for Success and Growth ~ | Mega Trends and Industry Convergence Implications~ || Market Overview—Impact of Mega Trends on the Pumps Industry~ | North American Pump Services Market~ || Market Engineering Measurements~ || Market Drivers~ || Market Restraints~ || Revenue Forecast~ || Pump Services Market—Types of Maintenance~ || Pump Service Type and End-user Requirements~ || Service Types and Supply Channel~ || Pump Services—Core Competences and Key Success Factors~ || Pump Services for the End-user Industry~ || Voice of Key Stakeholders~ || Pumps Competitive Overview~ | North American Compressor Services Market~ || Market Engineering Measurements~ || Market Drivers~ || Market Restraints~ || Revenue Forecast~ || Compressor Services Market and End-user Requirements~ || Compressor Service Type and End-user Requirements~ || Key End-user Requirements—Compressors~ || Service Types and Supply Channel~ || Compressor Services—Core Competencies and Key Success Factors~ || Compressor Services for the End-user Industry~ || Voice of Key Stakeholders~ || Competitive Overview~ | North American Valves Services Market~ || Market Engineering Measurements~ || Market Drivers~ || Market Restraints~ || Revenue Forecast~ || Valves and Actuators Services Market~ || Valves Service Type and End-user Requirements~ || Valves and Actuators Services—Core Competences~ || Valves and Actuators Services for the End-user Industry~ || Voice of Key Stakeholders~ || Competitive Overview~ | The Last Word~ || The Last Word—3 Big Predictions~ || Legal Disclaimer~ | The Frost & Sullivan Story~
List of Charts and Figures 1. Total Industrial Services Market: Market Engineering Measurements, NA, 2016~ 2. Total Industrial Services Market: Mega Trends Impact on Industrial Services Industry, NA, 2016~ 3. Pump Services Market: Market Engineering Measurements, NA, 2016~ 4. Pumps Services Market: Key Market Drivers, NA, 2017–2023~ 5. Pumps Services Market: Key Market Restraints, NA, 2017–2023~ 6. Pump Services Market: Growth Potential by Service Type and Supply Channel, NA, 2014–2023~ 7. Pump Services Market: Core Competencies and Key Success Factors, NA, 2016~ 8. Pumps Services Market: Top 5 Competitors’ Market Share, NA, 2016~ 9. Compressor Services Market: Market Engineering Measurements, NA, 2016~ 10. Compressors Services Market: Key Market Drivers, NA, 2017–2023~ 11. Compressors Services Market: Key Market Restraints, NA, 2017–2023~ 12. Compressor Services Market: Key End-user Requirements, NA, 2016~ 13. Compressor Services Market: Growth Potential by Service Type and Channel, NA, 2014–2023~ 14. Compressor Services Market: Core Competencies and Key Success Factors, NA, 2016~ 15. Compressor Services Market: Market Share of Top 4 Competitors, NA, 2016~ 16. Valves Services Market: Market Engineering Measurements, NA, 2016~ 17. Valves Services Market: Key Market Drivers, NA, 2017–2023~ 18. Valves Services Market: Key Market Restraints, NA, 2017–2023~ 19. Valves Services Market: Core Competencies and Key Success Factors, NA, 2016~ 20. Valves Services Market: Market Share of Top 5 Competitors, NA, 2016~| 1. Total Industrial Services Market: Market Engineering Measurements, NA, 2016~ 2. Total Industrial Services Market: Market Segmentation, NA, 2016~ 3. Total Industrial Services Market: Percent Sales Breakdown by Product Type, NA, 2016~ 4. Total Industrial Services Market: Percent Sales Breakdown by Region, NA, 2016~ 5. Total Industrial Services Market: Percent Sales Breakdown by End-user Industry, NA, 2016~ 6. Total Industrial Services Market: Revenue Forecast, NA, 2014–2023~ 7. Total Industrial Services Market: Strong Business Case, NA, 2016~ 8. Total Industrial Services Market: Perpetual Mapping of Service Providers, NA, 2016~ 9. Total Industrial Services Market: In-House vs. External, NA, 2016~ 10. Total Industrial Services Market: End-users’ Preference of External Services, NA, 2016~ 11. Total Industrial Services Market: Key Trends, NA, 2016~ 12. Total Industrial Services: Penetration Rate, NA, 2016~ 13. Pumps Services Market: Revenue Forecast, NA, 2014–2023~ 14. Pump Services Market: Types of Maintenance, NA, 2016~ 15. Pump Services Market: Revenue Breakdown by Service Type, NA, 2016 and 2023~ 16. Pump Services Market: Pump Service Type and End-user Requirements, NA, 2016~ 17. Pump Services Market: Breakdown by Service Type and Supply Channel, NA, 2016~ 18. Pump Services Market: Market Share by Type of Company, NA, 2016~ 19. Pump Services Market: Market Share by Size of Company, NA, 2016~ 20. Compressors Services Market: Revenue Forecast, NA, 2014–2023~ 21. Compressor Services Market: Percent Revenue Forecast by Service Type, NA, 2016 and 2023~ 22. Compressor Services Market: Breakdown by Service Type and Channel, NA, 2016~ 23. Compressor Services Market: Market Shares by Type of Company, NA, 2016~ 24. Compressor Services Market: Market Shares by Size of Company, NA, 2016~ 25. Valves Services Market: Revenue Forecast, NA, 2014–2023~ 26. Valves Services Market: Percent Revenue Forecast by Service Type, NA, 2016 and 2023~ 27. Valves Services Market: Market Shares by Type of Company, NA, 2016~ 28. Valves Services Market : Market Shares by Size of Company, NA, 2016~
Author Arun Prasath
Industries Industrial Automation
WIP Number K101-01-00-00-00
Is Prebook No