The global motor winding repair service market is projected to achieve a compound annual growth rate (CAGR) of 5% during the forecast period, driven by increasing demand. By 2032, it is expected to reach an estimated value of US$ 12,780 million, a substantial rise from US$ 7,832.5 million recorded in 2022.
Electric motors are subject to application in various industries – ranging from food & beverages, mining, to metal manufacturing. Repairing of the motor windings, industrial fans, compressors, and machine tools is inevitable. Plus, traditional manufacturing units are witnessing a transformation in the form of preventive maintenance.
It is a known fact that motor coils and bearings in the damaged form need to get replaced for maintaining motor efficiency. This factor is likely to take the motor winding repair service market by storm in the forecast period. The maintenance control processes are inclusive of motor winding check, visual review, and electric motor bearing inspections.
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There are government compliances pushing key participants to incorporate the preventive measures, inclusive of utmost safety of bearings, motors, machinery, and likewise. The vendor companies are into offering advanced repair services encompassing 100% cleaning, safety checks, oiling, and likewise. Also, end-users do understand that end-users emphasize on regular maintenance/repair service that proves to be more cost-efficient as compared to purchasing a new-fangled machine system.
Repairs and maintenance do make way for second life to machine, thereby increasing the shelf life. Reduction of downtime for preventive maintenance of the motors could be achieved through adopting motor winding repair service. Industries using bigger machines for production, packaging, and logistics have been focusing on adoption of motor winding repair services. This could be attributed to the fact that using these machines heavily during implementation of new technology asks for an utterly professional skillset with maintenance equipment. This is another factor driving the motor winding repair service market in the near future.
Besides, elevated demand pertaining to luxury vehicles, overload protection, and rapid industrialization is accelerating the motor winding repair service market. Future Market Insights has walked through these facts with insights in its latest market study entitled ‘Motor Winding Repair Service market’.
Key Takeaways from Motor Winding Repair Service Market
- The Asia-Pacific is expected to grow at the fastest pace in the motor winding repair service market due to steadiness in production of the motor-driven systems like industrial applications, household applications, and automotive vertical in the countries like Singapore, South Korea, India, and China.
- Europe stands second with 28% of the market share. This could be reasoned with growing awareness about environmental concerns, which has actually prompted the end-consumers to resort to electric vehicles as the daily modes of transport. As electric motors drive these vehicles, demand for motor winding repair services are bound to rise in the forecast period.
- North America stands third as far as market share is concerned. However, it needs to be noted that it is expected to witness a stellar CAGR of 26% between 2022 and 2032 due to robust infrastructure being incorporated on continuous basis.
- Start-up ecosystem to catalyze the motor winding repair service market in the forecast period.
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Competitive Landscape
- Layco Electric Innovations (LEI), in the year 2020, tabled the newly designed website offering easy and quick access to essential products, services, and information.
- Shell, in June 2022, selected Sulzer for supplying pumps for the novel biofuel facility that is under construction in Rotterdam (The Netherlands).
- Sulzer Ltd., in November 2021, put forth a new bio-power scheme in The Netherlands. It actually introduced a new-fangled process for producing biogas from sludge at the time of wastewater treatment.