Rotating Equipment Repair Market

Global Market Study on Rotating Equipment Repair: Demand to Remain High from Oil & Gas and Power Generation Sectors

About the Report

Nowadays, many technologies such as IoT and wireless sensors are used to monitor machine issues, which collect vibration, temperature, and pressure data from rotating equipment such as centrifugal pumps and other assets; this helps monitor the equipment from anywhere. This can be configured to provide alert notification emails and PDF reports. With the help of this, monitoring centers can provide remote asset monitoring support, technical insights, and recommendations to help plant managers make more informed decisions to improve their plant’s efficiency and productivity.

In its revised study, market research and consulting firm Persistence Market Research offers insights about key factors driving demand for rotating equipment repair. The report tracks the market in 20+ high-growth countries, where regions that show promise are Asia Pacific, North America, and Europe. The report also analyzes the impact COVID-19 has had on the automotive industry in general, and demand for rotating equipment repair in particular. This edition (2021-2031) brings readers up-to-date with key market developments, providing analysis on how stakeholders are reacting to change. Key industry metrics have been captured, and their impact on the global market has been analyzed. The study also expands on the previous competitive landscape section, and readers will get to know the key strategies of established players as well as new entrants in the rotating equipment repair market.

Find Out More about the Report Coverage

Companies

  • The Weir Group PLC
  • Flowserve Corporation
  • General Electric Company
  • Siemens AG
  • KSB SE & Co. KGaA
  • Ebara Corporation
  • Sulzer AG
  • John Wood Group PLC
  • Torishima Pump Mfg. Co., Ltd.
  • MAN SE
  • Stork
  • Hydro Inc.
  • Triple EEE
  • Amaru Giovanni S.R.L.
  • Rainbow Mechanical Solutions LLC
  • De Pretto Industrie
  • Maintenance Partners NV
  • CFATEC
  • TS&S
  • Basis Plant Services S.r.l.
  • MEOS CO. LLC
  • S.T. Cotter Turbine Services, Inc.
  • Al-Rushaid Group

Historical Trends Vs Future Market Outlook

Earlier, from the 1960s to the 1980s, repair and maintenance service was only seen as a circumstantial activity, and was considered to be of minor importance useful only when some breakdown occurred in the production line of manufacturing industries. This department’s scope was restricted to selected sectors such as electricity, mechanics, or greasing, due, to which, the notions of prevention related to machinery maintenance didn’t exist, and so, development of this service sector lagged behind.

Many manufacturing processes, on an industrial scale, rely on a large variety of rotating equipment to deliver end products such as from steam turbines and electric motors to compressors, expanders, and pumps. Proper repair and maintenance is required to keep the manufacturing process running smoothly.

Nowadays, companies into mining, oil & gas, chemical, and general manufacturing are progressively become aware about the safety aspects of machinery to increase their productivity and reduce the incidence of breakdowns. Equipment possess many advanced technologies, due to which, repair and maintenance is gaining more importance day by day, which is paving the futuristic path for the growth of the global rotating equipment repair market.

Manufactures as well as service providers, including OEM companies and independent service providers, are racing to offer equipment with smart controls and remote operation & monitoring capabilities. They are also offering the stationing of dedicated services at client locations, which is creating more opportunities for market growth.

According to Persistence Market Research’s analysis, demand for rotating equipment repair is set to expand at around 5% CAGR from 2021 to 2031.

Customize this Report

Explore Intelligence Tailored to Your Business Goals.

Why is demand for rotating equipment repair rising?

As far as power generation is concerned, in order to maintain the plant’s power receiving and distribution, consulting services such as periodical inspections, parts replacement, diagnoses, and renovation need to be performed, which is the primary driving factor for market growth. Favorable government initiatives to promote green energy in order to decrease the emission of dangerous gases in the environment will propel demand for repair and maintenance in terms of onsite & off-site inspections, installation and commissioning, up-gradation and modification of components & operating software.

Market Research Methodology - Perfected through Years of Diligence

A key factor for our unrivaled market research accuracy is our expert- and data-driven research methodologies. We combine an eclectic mix of experience, analytics, machine learning, and data science to develop research methodologies that result in a multi-dimensional, yet realistic analysis of a market.

Get actionable insights on Ship Repair And Maintenance Services Market

What are the opportunities for rotating equipment repair providers?

According to Persistence Market Research, with growing demand for smart technologies and integrated systems OEM manufacturers as well as independent service providers are racing to offer equipment with smart controls and remote operation & monitoring capabilities, accelerating decision-making and opening up new service opportunities for service providers.

Rotating equipment can range from simple configuration pumps to complex equipment that come with installation, commissioning, operation, repair, and maintenance that require intricate technical knowhow of the entire set-up and the management of a huge number of components. For the functioning of these components, end users almost always need OEMs or third-party providers to effectively keep the equipment in the best operating condition. They are thus required to hire expert services for the maintenance of critical processes and complex equipment, which is a key driver for the steady demand for rotating equipment repair.

rotating-equipment-repair-market

Explore Persistence Market Research’s expertise in promulgation of the business !

Country-wise Insights

How big is the opportunity in the U.S. for rotating equipment repair?

Persistence Market Research has projected that the U.S. is expected to remain one of the most lucrative markets for rotating equipment repair throughout the forecast period, as most of the leading manufacturers are based in the country, such as Flowserve Corporation, General Electric Company, Hydro Inc, etc. In the U.S., there are continuous developments in the oil & gas sector, which has created many historic opportunities for players, and this will improve the country’s competitiveness even further in global markets. Which, in turn, will provide lucrative opportunities the market growth of rotating equipment repair services.

Will Russia witness steady market expansion?

Russia is estimated to have a prominent market share in rotating equipment repair, and expected to witness substantial growth during the forecast period. Increasing investments in offshore oil and gas fields are paving the way for market growth. Moreover, prevalence of a large number of manufacturers also provides impetus to market growth. Some of the leading players operating here are Siemens AG John Wood Group PLC, KSB SE & Co., KGaA, etc.

Why are market players setting up base in China?

Rapid industrialization in China is a major driver for market growth. Substantial increase in industrial activities coupled with government subsidies in the country are creating growth prospects for industrial growth, further ascending demand for rotating equipment repair.

Moreover, leading global manufacturers are poised to establish their manufacturing bases in China, in order to gain benefits from low-cost raw materials and cheaper labor availability in the country. These factors are creating positive prospects for market growth in China.

Is industrialization key to rotating equipment repair demand growth in India?

In India, rapid urbanization brought on by industrialization typically leads to general deterioration of workers' lifestyle. There is rising need of good machinery and equipment in manufacturing industries to increase the productivity of plants, which is positively influencing demand for rotating equipment repair.

In addition, key global market participants are focusing on the expansion of their networks in order to be in close proximity with the increasing customer base in the country.

Category-wise Insights

How is the power generation sector driving demand for rotating equipment repair?

In the power generation sector, in order to maintain the plant’s power receiving and distribution facility, consulting services such as periodical inspections, parts replacements, diagnoses, and renovation need to be performed, which is the primary driving factor for market growth. Favorable government initiatives to promote green energy in order to decrease the emission of dangerous gases in the environment will propel demand for repair and maintenance in terms of onsite and offsite inspections, installation and commissioning, up-gradation, and modification of components & operating software.

Which equipment has the highest share in the market?

Rising adoption of industrial pumps across various industries such as power generation, water and wastewater, chemicals, and oil and gas is expected to have a positive impact on the growth of the rotating equipment repair market. Also, regarding offshore and onshore oil & gas exploration, there are increasing exploration activities taking place, which is anticipated to drive demand for industrial pumps. This is positively affecting the requirement for rotating equipment repair, with this segment holding close to half of the market share.

Which service majorly contributes to market growth?

Use of condition monitoring allows operators to schedule their maintenance activities to prevent failure and avoid downtime in production lines. Many advancements and adoption of new technologies such as IoT and wireless sensors in condition monitoring & reliability services are being implemented for industrial equipment, which will provide growth opportunities for companies dealing in rotating equipment repair. The segment is slated to hold around one-third market share through 2031.

Why is the direct-OEM-based sales channel popular for rotating equipment repair?

Increasing awareness regarding the maintenance of industrial equipment is primarily driving the direct OEM-based sales channel for rotating equipment repair, which is projected to hold two-third market value share. Also, with growing demand for smart technologies in industrial equipment and proper functioning of these components, manufacturers need reliable service providers, and many independent service vendors are stepping up and increasingly providing onsite and offsite aftersales services, which is fuelling market growth for rotating equipment repair.

Competitive Landscape

Advancements in technology and future implementation of maintenance systems will see greater integration of business and technical systems, which will definitely lead to growing opportunities for the market of rotating equipment repair. Manufacturers are increasingly offering more aftermarket services by understanding the current. The market is moderately consolidated in nature, which results in low bargaining power for customers due to less number of certified service providers in this space.

Some of the leading companies operating in the market are:

  • The Weir Group PLC
  • Flowserve Corporation
  • General Electric Company
  • Siemens AG
  • KSB SE & Co. KGaA
  • Ebara Corporation
  • Sulzer AG
  • John Wood Group PLC
  • Torishima Pump Mfg. Co., Ltd
  • MAN ES
  • Stork
  • Hydro Inc.
  • Triple EEE
  • Amaru Giovanni S.R.L.
  • Rainbow Mechanical Solutions LLC
  • De Pretto Industrie S.r.l.
  • Maintenance Partners NV
  • CFATEC
  • TS&S
  • Basis Plant Services S.r.l.
  • MEOS CO. LLC
  • S.T. Cotter Turbine Services, Inc.
  • Al-Rushaid Group

*The list is not exhaustive, and only for representational purposes. Full competitive intelligence with SWOT analysis available in the report.

Scope of the Report

Attribute

Details

Forecast Period

2021-2031

Historical Data Available for

2016-2020

Market Analysis

USD Million for Value and Units for Volume

Key Regions Covered

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia & Pacific
  • Middle East & Africa

Key Segments Covered

  • Nature of Service
  • Equipment
  • End-use Industry
  • Sales Channel
  • Region

Key Companies Profiled

  • The Weir Group PLC
  • Flowserve Corporation
  • General Electric Company
  • Siemens AG
  • KSB SE & Co. KGaA
  • Ebara Corporation
  • Sulzer AG
  • John Wood Group PLC
  • Torishima Pump Mfg. Co., Ltd
  • MAN ES
  • Stork
  • Hydro Inc.
  • Triple EEE
  • Amaru Giovanni S.R.L.
  • Rainbow Mechanical Solutions LLC
  • De Pretto Industrie S.r.l.
  • Maintenance Partners NV
  • CFATEC
  • TS&S
  • Basis Plant Services S.r.l.
  • MEOS CO. LLC
  • S.T. Cotter Turbine Services, Inc.
  • Al-Rushaid Group

Report Coverage

  • Market Forecasts
  • Brand Share Analysis
  • Competition Intelligence
  • DROT Analysis
  • Market Dynamics and Challenges
  • Strategic Growth Initiatives

Customization & Pricing

Available upon Request

Market by Category

Nature of Service

  • Condition Monitoring & Reliability Services
  • Reverse Engineering & Upgrade
  • Repair, Refurbish & Retrofit
  • Installation and Commissioning
  • Components & Operating Software Upgrade

Equipment

  • Pumps
  • Centrifugal Compressors
  • Agitator & Mixers
  • Turbines
  • Gas Turbines
  • Steam Turbines

End-use Industry

  • Oil & Gas
    • Upstream
    • Midstream
    • Downstream
  • Power Generation
  • Mining
  • HVAC
  • Water & Waste Water Treatment
  • General Manufacturing
  • Other Industrial

Sales Channel

  • Direct OEM-based
  • Independent Service Vendor-based
    • Onsite (Field Service)
    • Offsite

Key Questions Answered in Report

Q1. Which sales channel leads the rotating equipment repair space?

The onsite sales channel of independent service providers is creating lucrative opportunities for market growth of rotating equipment repair.

Q2. Which are some of the leading companies providing rotating equipment repair?

Some of the leading companies offering rotating equipment repair are General Electric Company, Siemens AG, Sulzer AG, The Weir Group, and Flowserve Corporation.

Q3. Which equipment leads in rotating equipment repair?

Pumps have a leading share as far as rotating equipment repair is concerned.

Enquiry before Buying

Is this research conducted by Persistence Market Research?

Yes, the research has been conducted by expert analysts of Persistence Market Research, through a combination of primary research and secondary research. To know more about how the research was conducted, you can speak to a research analyst.

What research methodology is followed by Persistence Market Research?

Persistence Market Research follows a methodology that encompasses the demand-side assessment of the market, and triangulates the same through a supply-side analysis. This methodology is based on the use of standard market structure, methods, and definitions. Request a detailed methodology.

Who are the respondents for primary research?

Persistence Market Research speaks to stakeholders across the spectrum, including C-level executives, distributors, product manufacturers, and industry experts. For a full list of primary respondents, please reach out to us.

What are the sources of secondary research?

Persistence Market Research conducts extensive secondary research through proprietary databases, paid databases, and information available in the public domain. We refer to industry associations, company press releases, annual reports, investor presentations, and research papers. More information about desk research is available upon request

Is a sample of this report available for evaluation?

Yes, you can request a sample, and it will be sent to you through an email.

How can I buy this report?

Persistence Market Research provides a secure online payment system to buy reports seamlessly. You can buy the report securely and safely.

Media Release

Our Clients

Our Clients