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Tuesday, June 18, 2024

Industrial Machinery Repair/Aftermarket Services Market reaches $246.2 Billion with 8.5% Annual Growth

The industrial machinery repair and aftermarket services market is experiencing rapid growth, with all sectors – B2C, B2B, and B2G – showing increased demand for these services. Market Decipher’s new report highlights the importance of aftermarket services in industries, as profit margins in repair services tend to be higher than in product sales.

Digitalization is becoming a key trend in the industry, with companies leveraging digital tools and analytics to enhance sales and distribution networks. The EBIT margin for aftermarket services is notably higher than for new equipment sales, making it a lucrative area for companies to focus on.

Key areas explored in the research include understanding the new growth wave, the impact of service engineers and local service companies, and the importance of ground level interaction. The report also delves into key application areas of growth, demand from APAC countries, and the impact and necessity of digitalization.

The report provides a detailed analysis of the industrial machinery repair and aftermarket services market, including type analysis, service type analysis, application analysis, business space analysis, warranty type analysis, provider analysis, industry analysis, and type of parts analysis. Companies such as Deere & Company, ABB Ltd, Caterpillar Inc., and Linde AG are among the key players in the market.

Market Decipher is a market research and consultancy firm that provides market reports to organizations of all sizes. They focus on articulating relevant business policies for sustainable growth in specific market domains, offering services such as syndicated research and custom research.

For more information, visit Market Decipher’s website and follow them on LinkedIn and Facebook for updates on market trends. Contact Market Decipher for specific sector or country reports, and stay informed about growing industries in the related sector, including the automotive display market, automotive embedded telematics market, automotive sensors market, and automotive transmission market.

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