Rotating Equipment Repair Market

Rotating Equipment Repair Market - Global Market Share, Trends, Analysis and Forecast, 2023-2032
Frequently asked questions about this report

The rotating equipment repair market size was estimated to be US$ 24.4 Billion in 2022.

The rotating equipment repair market is expected grow at a CAGR of 5.8% between 2023 to 2032.

The global rotating equipment repair market is being driven by several factors, including the growing demand for energy, expansion of industrial activities, and the need for regular maintenance and repair of rotating equipment.

The power generation segment is also a significant contributor to the rotating equipment repair market. The aging power infrastructure and the growing demand for electricity have increased the need for maintenance and repair services, driving the growth of the rotating equipment repair market in the power generation sector.

North America is expected to dominate the market due to the presence of key market players and the high demand for rotating equipment repair services in the oil and gas and power generation industries.

Companies operating in the global rotating equipment repair market have adopted various growth strategies to strengthen their market position and expand their business. The major growth strategies adopted by these Companies focus on digital transformation by adopting new technologies such as artificial intelligence, machine learning, and the Internet of Things to enhance their service offerings and improve their operational efficiency.

ABB, Atlas Copco, Baker Hughes, Ebara Corporation, Flowserve Corporation, General Electric, Grundfos, Hitachi, Ltd., Ingersoll Rand, KSB SE & Co. KGaA, Mitsubishi Heavy Industries, Ltd., Siemens AG, SKF AB, Sulzer Ltd., and Weir Group PLC among others, are the major players in this market.