NEWARK, Del, Aug. 22, 2022 (GLOBE NEWSWIRE) — The global motor winding repair services market is expected to reach a value of US$12,780 million by 2032 while growing at a moderate CAGR of 5% for the forecast period from 2022 to 2032. The Motor Winding Repair Services Market is likely to reach around US$ 7,832.5 million in 2022. The growth of this market is fueled by the competitiveness, profitability and efficient performance of the automotive services.
Damaged coils should be replaced with new coils to improve engine efficiency. This boosts sales of motor winding repair services. The increase in the provision for maintenance control processes such as visual examination, motor winding check, and electric motor bearing inspections further expands the market for motor winding repair services. In addition to this, the profitability and application in several industry verticals such as food & beverage, mining, etc., are also supporting the growth of the motor winding repair services market .
Rising standard of living and increasing disposable income are contributing to the growth of the motor winding repair services market. Increased demand for motor winding repair services by industrial and other end users in replacement and repair segments owing to their effective performance in preventing critical failures and severe motor damage is driving the market growth . Additionally, high demand for luxury vehicles, rapid industrialization, and overload protection, among other factors, are driving the sales of motor winding repair services during the forecast period.
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“High quality materials and rigid manufacturing tolerance are expected to increase the motor winding repair service market size over the forecast period,” says an IMF analyst.
Key points to remember:
- Electrical redesigns, insulation upgrades and mechanical upgrades to increase market possibilities.
- Lack of awareness and knowledge is hampering the market prospects for motor winding repair services.
- Asia-Pacific is expected to dominate the global market over the forecast period.
- Europe is set to become the second largest market, with a 28% revenue share in 2022.
- The start-up ecosystem has a positive outlook in the motor winding repair services market over the assessment period.
Integrated Power Services LLC., Delba Electrical, Continental Group, Excel Apparatus Services Inc., Whelco Industrial, EMW PRODUCTIONS LLC, Smith Services, Electric Motor Rewinding Company Albury, Lloyd Electric Co. Inc., Rogers Electric Motor Services, ROGERS ELECTRIC & MACHINE , A-Plus Winding Services Inc., ABB, Siemens, WEG SA, Regal Beloit Corporation, TECO E&M/TECO-Westinghouse, NIIR PROJECT CONSULTANCY SERVICES (NPCS), Renown Electric Motors & Repair Inc., NSL Machinery Reliability Services, Precision Servo LLC, A2Z Pump Repair & Service Solutions Inc., DC Braun Co. and others are some of the major Motor Winding Repair Services market players profiled in the comprehensive version of the report.
The major players in the market are focusing on setting up effective joint ventures, acquisitions and collaborations in order to increase their respective consumer bases.
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More information about the Motor Winding Repair Service Market report
In its latest report, FMI offers an unbiased analysis of the global Motor Winding Repair Services Market, providing historical data from 2016 to 2021 and forecast statistics from 2022 to 2032. To understand the potential, growth, and scope of the Global market, the market is segmented on the basis of Type (AC Motor, DC Motor), End User (Full HP Power, Fractional HP Power), Application (Oil & Gas, Automotive Industry, Mining Industry, Paper and cement, power generation industry, nuclear energy, fossil energy, hydroelectricity, household appliances) and the region.
According to the latest IMF reports, based on the region, Asia-Pacific is expected to dominate the global market space. This growth is attributed to strong demand and sales of electric vehicles. Additionally, increasing motorized systems business in domestic, industrial and automotive applications in countries like Singapore, India, China and South Korea is also fueling the growth of the market in this region.
The motor winding repair services market in Europe is the second largest market, which is expected to account for around 28% of revenue share by the end of 2022. The increase in infrastructure projects in the automotive sector is responsible for this notable growth in the region.
Apart from Europe and Asia-Pacific, North America is also expected to witness considerable growth during the forecast period. It closely follows Europe with an astonishing CAGR of 26%. Increase in infrastructural activity due to transportation of natural gas propels the adoption of motor winding repair services in this region during the forecast period.
Per end user:
- Built-in loudspeaker output
- Fractional HP output
- Oil and gas industry
- Automobile industry
- Mining industry
- Paper & Cement
- Power generation industry
- nuclear power
- Fossil fuels
- Household appliances
- North America
- Latin America
- Asia Pacific
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1.1. Global Market Outlook
1.2. Demand Side Trends
1.3. Supply-side trends
1.4. Analysis of the technology roadmap
1.5. Analysis and recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limits
3. Market context
3.1. Market dynamics
3.2. Scenario forecast
3.2.1. Demand in the optimistic scenario
3.2.2. Demand in Likely Scenario
3.2.3. Demand in the conservative scenario
3.3. Opportunity Map Analysis
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