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The motor repair and maintenance industry in North America is being driven by the rapid expansion of various end use industries including food and beverage, mining, oil and gas, construction, utilities, and HVAC, among others. The increasing focus to enhance operational efficiency in these industries have been contributing to the demand for motor repair and maintenance services. Further, the growing utilisation of HVAC equipment across the sectors is likely to propel the demand for motor repair and maintenance in the forecast period. Moreover, the growing focus on preventive maintenance (PM) to reduce the likelihood of equipment failure in manufacturing facilities is likely to support the market in the region. Preventive maintenance is necessary for most mechanical equipment to enhance their reliability and operational availability by taking preventive action before the functional failure happens.
The growing collaborations among the leading market players for the development of efficient motor solutions are projected to supplement the market growth in the forecast period. For instance, in September 2020, ABB Ltd. (OTCMKTS: ABLZF) announced a partnership with Integrated Power Services (IPS) to provide advanced motor solutions to customers in Western Ontario, Manitoba, and Saskatchewan. Both companies aim to provide customers with reliable and efficient solutions for all kinds of powertrain applications.
Market Breakup by Type, Service, End Use, and Region:
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The major players in the North America motor repair and maintenance market are ABB Ltd., Siemens AG, Renown Electric, K+S Services, Inc., and TECO-Westinghouse, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
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