North American Industrial Services Market, Forecast to 2023

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

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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.

Table of Contents

1. Executive Summary
Executive Summary—Key Findings
Market Engineering Measurements
Executive Summary—CEO’s Perspective
2. 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
3. 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
4. Growth Opportunities and Companies to Action
Major Growth Opportunities
Growth Opportunity 1—Globalization
Growth Opportunity 2—Industry Convergence
Strategic Imperatives for Success and Growth
5. Mega Trends and Industry Convergence Implications
Market Overview—Impact of Mega Trends on the Pumps Industry
6. 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
7. 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
8. 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
9. The Last Word
The Last Word—3 Big Predictions
Legal Disclaimer
10. The Frost & Sullivan Story

Infographic



List of Figures & Charts

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



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