Machinery Maintenance & Heavy Equipment Repair Services in the US
The Machinery Maintenance and Heavy Equipment Repair Services industry, which services equipment across a broad spectrum of downstream industries, has grown strongly during the past five years. Heightened business activity in line with economic recovery over the period has increased depreciation of industrial equipment, boosting the need for repair services. However, although higher profit margins among downstream customers lifted demand early in the five-year period, businesses with healthier balance sheets have increasingly opted in recent years to replace rather than repair equipment, constraining growth in demand for industry services. Nevertheless, an increased focus on predictive and preventive maintenance has sustained demand, and the industry is expected to continue growing through 2021, albeit at a slower pace than in the previous five years.
This industry provides maintenance and repair (M&R) for commercial, industrial, agricultural and other types of machinery and equipment (M&E). Services include motor repair, blade sharpening and commercial refrigeration repair. While this industry performs automobile welding services, it does not conduct general automotive and electronic repairs, which are performed by the Auto Mechanics (IBISWorld report 81111) and Electronic and Computer Repair Services (81121) industries.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.