Latest news with #Maintenance
Yahoo
4 days ago
- Business
- Yahoo
$97.66 Bn Industrial Maintenance Services Trends, Opportunities and Strategies to 2034: Onshore Segment Dominates, While Offshore Emerges as Fastest-Growing in Industrial Maintenance Markets
Global industrial maintenance services market to reach $97.66 billion by 2034, driven by industrialization, renewable energy expansion, and digital solutions. Asia-Pacific leads growth. Key opportunities in repair services, on-shore projects, and industry sectors. Dominated by major players like Bilfinger SE. Industrial Maintenance Services Market Dublin, June 17, 2025 (GLOBE NEWSWIRE) -- The "Industrial Maintenance Services Market Opportunities and Strategies to 2034" report has been added to report describes and explains the industrial maintenance services market and covers 2019-2024, termed the historic period, and 2024-2029, 2034F termed the forecast period. The report evaluates the market across each region and for the major economies within each region. The global industrial maintenance services market reached a value of nearly $54.47 billion in 2024, having grown at a compound annual growth rate (CAGR) of 4.10% since 2019. The market is expected to grow from $54.47 billion in 2024 to $73.72 billion in 2029 at a rate of 6.24%. The market is then expected to grow at a CAGR of 5.79% from 2029 and reach $97.66 billion in in the historic period resulted from the increasing aerospace sector, expansion of oil and gas industry, increasing infrastructure development and increasing aging infrastructure. Factors that negatively affected growth in the historic period were lack of standardization and dependency on third-party vendors. Going forward, the rapid industrialization, favorable government initiatives, expansion of renewable energy and increasing manufacturing output across industries will drive the growth. Factor that could hinder the growth of the industrial maintenance services market in the future include regulatory compliance and labor was the largest region in the industrial maintenance services market, accounting for 36.40% or $19.82 billion of the total in 2024. It was followed by Western Europe, North America and then the other regions. Going forward, the fastest-growing regions in the industrial maintenance services market will be Asia-Pacific and Western Europe where growth will be at CAGRs of 7.76% and 6.18% respectively. These will be followed by Eastern Europe and Middle East where the markets are expected to grow at CAGRs of 5.35% and 5.01% global industrial maintenance services markets is fairly fragmented, with large players operating in the market. The top 10 competitors in the market made up 14.81% of the total market in 2023. Bilfinger SE was the largest competitor with a 1.93% share of the market, followed by Honeywell International Inc. with 1.89%, W.W. Grainger Inc. with 1.81%, Emerson Electric Co. with 1.71%, ABB Ltd. with 1.47%, Rockwell Automation Inc. with 1.33%, Petrofac Limited with 1.27%, General Vernova (General Electric) with 1.17%, Fluor Corporation with 1.13% and KBR Inc. with 1.09%.The industrial maintenance services market is segmented by service into repair, inspection and maintenance. The repair market was the largest segment of the industrial maintenance services market segmented by service, accounting for 51.73% or $28.18 billion of the total in 2024. Going forward, the maintenance segment is expected to be the fastest growing segment in the industrial maintenance services market segmented by service, at a CAGR of 6.72% during industrial maintenance services market is segmented by location into on shore and off shore. The on-shore market was the largest segment of the industrial maintenance services market segmented by location, accounting for 81.26% or $44.26 billion of the total in 2024. Going forward, the off shore segment is expected to be the fastest growing segment in the industrial maintenance services market segmented by location, at a CAGR of 6.86% during industrial maintenance services market is segmented by end-user into oil and gas, industry, power generation and other end-users. The industry market was the largest segment of the industrial maintenance services market segmented by end-user, accounting for 50.63% or $27.57 billion of the total in 2024. Going forward, the industry segment is expected to be the fastest growing segment in the industrial maintenance services market segmented by end-user, at a CAGR of 7.40% during top opportunities in the industrial maintenance services market segmented by service will arise in the repair segment, which will gain $9.17 billion of global annual sales by 2029. The top opportunities in the industrial maintenance services market segmented by location will arise in the on-shore segment, which will gain $15.23 billion of global annual sales by 2029. The top opportunities in the industrial maintenance services market segmented by end user will arise in the industry segment, which will gain $11.83 billion of global annual sales by 2029. The industrial maintenance services market size will gain the most in China at $3.84 strategies for the industrial maintenance services market include focus on prioritizing the development of advanced non-destructive testing (NDT) equipment to improve inspection accuracy, minimize downtime, and enhance the safety and efficiency of industrial operations, focus on developing digital transformation (dx) solutions for railway maintenance, focus on investing in the development of advanced inspection and maintenance (I&M) solutions to improve operational efficiency and minimize downtime, focus on developing next-generation devices to enhance grid stability and quality and focus on adopting a strategic partnership approach to create innovative solutions for industrial maintenance and energy strategies in the industrial maintenance services market include focus on strengthening operational capabilities through strategic partnerships, focus on strengthening business operations through the launch of new products and solutions and focus on expanding business capabilities through product take advantage of the opportunities, the analyst recommends the industrial maintenance services companies to focus on advancing non-destructive testing capabilities, focus on digital transformation in railway maintenance, focus on advanced inspection and maintenance solutions, focus on next-generation devices for grid stability, focus on the maintenance market for growth, expand in emerging markets, continue to focus on developed markets, focus on offshore market for growth, focus on strategic partnerships for innovation, provide competitively priced offerings, continue to use b2b promotions, focus on industry market Market Trends Advancements in Non-Destructive Testing Equipment for Industrial Maintenance Revolutionizing Railway Maintenance With Digital Transformation Solutions Next-Gen Industrial Inspections With Robotic Technology Innovative Solutions for Grid Stability and Industrial Performance Optimization Collaborative Approaches to Redefine the Future of Industrial Maintenance Key Mergers and Acquisitions Diversified Maintenance Acquired Facility Maintenance of America P3 Services Acquired Anchor Plumbing Services Caverion Corporation Acquired Clean Room Control Industrial Service Solutions Acquired Rotating Mechanical Solutions Corporation ISC Expands North American Reach and Service Offerings With Latest Acquisitions Recent Developments in the Industrial Maintenance Services Market Innovative Workshop Initiative to Strengthen Automotive Industry Partnerships Next-Gen Training Solutions for the Evolving Industrial Maintenance Sector Revolutionizing Wind Farm Operations With Advanced Monitoring Solutions Markets Covered: Services: Repair; Inspection; Maintenance Location: Onshore; Offshore End User: Oil and Gas; Industry; Power Generation; Other End Users Key Attributes: Report Attribute Details No. of Pages 327 Forecast Period 2024 - 2034 Estimated Market Value (USD) in 2024 $54.47 Billion Forecasted Market Value (USD) by 2034 $97.66 Billion Compound Annual Growth Rate 6.0% Regions Covered Global Companies Featured Bilfinger SE Honeywell International Inc W.W. Grainger Inc. Emerson Electric Co. ABB Ltd. Rockwell Automation Inc. Petrofac Limited General Vernova (General Electric) Fluor Corporation KBR Inc. MTU Maintenance Zhuhai Rolls-Royce Korean Air Bosch Limited NCH Asia Pacific Eneraque Industrial Construction & Maintenance Services Co., Ltd (ICS) Hiap Seng Engineering Ltd Yokogawa Electric Corporation SGK India Engineering Pvt. Ltd Siveco China Shanghai Electric Power Generation Service Co., Ltd. Guangzhou Aircraft Maintenance Engineering Company Limited FSE Engineering Group Ltd Mitsubishi Heavy Industries Ltd. Kubota Corporation Sumitomo Heavy Industries, Ltd. Hyundai Engineering & Construction Co., Ltd. SK Engineering & Construction Co., Ltd. KEPCO KPS LS Industrial Systems OCP Maintenance Solutions Seatronics Ashtead Technology Holdings PLC COIL Sulzer Megger Johnson Controls International plc TechnipFMC plc STRATEC SE Siemens AG Voith Group EMC Engineering Group Limited CBM Partners IMI plc Lockheed Martin LOT Aircraft Maintenance Services Schneider Electric Veolia Group SKF Group GE Power FLSmidth Ecolab Inc. Glasrock Products Bisco Refractories Oak Mountain Industries (OMI) CEDA Caverion Corporation Waygate Technologies Industry Services Co., Inc. Industrial Service Solutions Hillcore Group Unlimited Service Group (USG) Autonox Robotics Gmbh P3 Services Johnson Controls Jacobs EMCOR Group Veolia MMR Group Brock Group Turner Industries DNOW Inc. Airgas Inc. Ferguson PLC Motion Industries Inc. HD Supply Holdings Inc. KPIC Maintenance Services Inc. Blackstone Industrial Group Mader Canada Groupe PMI iCheck Inc. Havasu Industries Canada Inc. Bison Industrial Bartlett Operations Support Services (BOSS) ServcoCanada CSS Industrial Group of Companies Inc LD Celulose S.A Duratex ANDRITZ AG Asea Brown Boveri Ltd. (ABB) Mechatronix Etisalat STC Solutions Ooredoo Group Emrill Services LLC Farnek Services LLC Limak Construction Al-Mohannadi For Roads XCMG Machinery Staubli Brothers & Co. Combined Group Contracting Company (CGC) Waco Africa Orapi Xylem Inc. Alfa Designs Nigeria Ltd. Midea Group GZ Industrial Supplies ELB Equipment Hitachi Volvo Construction Equipment Liebherr For more information about this report visit About is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends. Attachment Industrial Maintenance Services Market CONTACT: CONTACT: Laura Wood,Senior Press Manager press@ For E.S.T Office Hours Call 1-917-300-0470 For U.S./ CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900
Yahoo
13-06-2025
- Business
- Yahoo
Cloud Platforms and AI Propel RMMS Industry Growth at 9.6% CAGR
The global Rail Maintenance Management System market, valued at USD 12.4 billion in 2025, is projected to grow at a 9.6% CAGR, reaching USD 28.5 billion by 2034. This market expansion is fueled by advancements in IoT and AI for predictive maintenance, increasing adoption of cloud-based platforms, and robust investment in global rail infrastructure modernization. Key challenges include high implementation costs and integration complexities. Rail Maintenance Management System Market Dublin, June 13, 2025 (GLOBE NEWSWIRE) -- The "Rail Maintenance Management System Market 2025-2034" has been added to offering. The Rail Maintenance Management System (RMMS) market, valued at USD 12.4 billion in 2025, is projected to grow at a CAGR of 9.6%, reaching USD 28.5 billion by 2034 This market segment is crucial for enhancing railway efficiency, safety, and cost-effectiveness. RMMS facilitates asset monitoring and optimizes maintenance for tracks, rolling stock, and signaling systems, allowing for predictive maintenance and scheduling of repairs. The surge in rail transportation demand, driven by urbanization and an emphasis on sustainable transit, underscores the necessity for RMMS. Technological advancements in the Internet of Things (IoT), Big Data analytics, and artificial intelligence (AI) have significantly improved RMMS capabilities, allowing real-time asset health tracking. However, the sector faces challenges such as high implementation costs and integration complexities with existing infrastructure. In 2024, the RMMS market expanded as rail operators prioritized reducing downtime and optimizing maintenance. Technological progress in digital technologies facilitated predictive maintenance, enabling early defect detection and efficient resource management. The shift towards digital transformation and cloud-based RMMS platforms enhanced collaboration, data sharing, and system scalability. Governments and private sectors worldwide continue investing in rail infrastructure modernization, integrating advanced maintenance systems to meet growing transit demands. Despite these investments, challenges such as high initial costs and a skilled workforce shortage remain key obstacles in some regions. Looking ahead, the RMMS market is poised for further growth as rail networks become more complex. Integration of AI, machine learning, and autonomous systems will refine asset health prediction, enhancing operational efficiency. The trend towards cloud-based RMMS platforms is expected to continue, offering flexible and scalable solutions. Additionally, RMMS integration with other rail systems will provide comprehensive operational maintenance solutions. The market benefits from rail infrastructure modernization in both developed and emerging markets, with governments promoting sustainable transportation. Nonetheless, the need for standardization and overcoming high implementation costs persist as hurdles for broad RMMS adoption. Key Insights Rail Maintenance Management System Market IoT and AI adoption in RMMS for predictive maintenance and real-time asset health tracking. Cloud-based RMMS platforms offering scalability and improved collaboration. Integration with signaling and control systems for streamlined operations. Global investment in infrastructure modernization projects. Focus on sustainable transportation solutions driving rail network optimization. Urbanization and population growth fueling demand for efficient rail logistics. Challenges such as high implementation costs and skilled workforce shortages. Key Attributes: Report Attribute Details No. of Pages 150 Forecast Period 2025 - 2034 Estimated Market Value (USD) in 2025 $12.4 Billion Forecasted Market Value (USD) by 2034 $28.5 Billion Compound Annual Growth Rate 9.6% Regions Covered Global Rail Maintenance Management System Market Segmentation By Component: Services By Type: Rolling Stock Maintenance, Track Maintenance, Signaling System Maintenance By Deployment: Cloud By Geography North America: USA, Canada, Mexico Europe: Germany, UK, France, Spain, Italy, Rest of Europe Asia-Pacific: China, India, Japan, Australia, Vietnam, Rest of APAC Middle East and Africa: Middle East, Africa South and Central America: Brazil, Argentina, Rest of SCA Companies Featured Huawei Technologies Co. Ltd. Siemens AG General Electric Company IBM Corporation Caterpillar Inc. Cisco Systems Inc. Honeywell International Inc. Toshiba Corporation Hitachi Rail Limited Thales Group Alstom SA Network Rail Westinghouse Air Brake Technologies Corporation ABB Ltd. Indra Sistemas SA Trimble Inc. ProRail Rhomberg Sersa Rail Group Loram Maintenance of Way Inc. TranSystems Corp Pandrol Ltd. Railnova SA Plasser & Theurer Export von Bahnbaumaschinen G.m.b.H Infranord AB RELAM Inc For more information about this report visit About is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends. Attachment Rail Maintenance Management System Market CONTACT: CONTACT: Laura Wood,Senior Press Manager press@ For E.S.T Office Hours Call 1-917-300-0470 For U.S./ CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900
India Today
04-06-2025
- Business
- India Today
DGCA conducts safety inspections of Turkish Airlines at major Indian airports
The Directorate General of Civil Aviation (DGCA) conducted a series of Safety Oversight and Ramp inspections of Turkish Airlines' passenger and cargo operations across four major Indian airports to evaluate the airline's adherence to both international and domestic aviation safety standards. The inspections were conducted in Delhi, Hyderabad, Chennai and Bengaluru from May 29 to June 2 in accordance with the rules mentioned in the Convention on International Civil Aviation (ICAO).advertisementDuring the inspection, multiple compliance issues were reported against the Kempegowda International Airport, Bengaluru, the DGCA officials found that the marshaller responsible for ground operations did not possess the required authorisation or a valid competency card for marshalling duties, indicating a lapse in personnel training and compliance. Aircraft MaintenanceEven at one point, it was found that no certified Aircraft Maintenance Engineer (AME) was present during the aircraft's arrival. Instead, a technician performed the arrival Goods HandlingDGCA officials also discovered that cargo onboard included Dangerous Goods requiring prior approval for the carriage of explosives over Indian airspace. The necessary documentation and declarations, including DGCA permission, were not found attached or cited in the Dangerous Goods Handling AgreementMoreover, at Hyderabad and Bengaluru airports, it was found that ground handling services were being provided by Globe Ground India without a formal Service Level Agreement (SLA) in place with Turkish Airlines. Additionally, ground service equipment such as ladders, trolleys, and Ground Power Units (GPUs) lacked proper tracking and handover documentation. This was particularly concerning as the services had transitioned from the previous handler, Celebi, without formal Action and Follow-upIn response to these findings, the DGCA has instructed Turkish Airlines to take immediate corrective action and ensure full compliance with ICAO Standards and Recommended Practices, as well as Indian civil aviation regulations."The DGCA remains firmly committed to safeguarding aviation safety and regulatory integrity for all foreign carriers operating in Indian airspace," a DGCA spokesperson stated. "Further follow-up inspections will be conducted as necessary to ensure continued compliance."The aviation regulator has reaffirmed that ensuring operational safety and oversight remains a top priority, especially in light of increasing international air traffic and growing reliance on third-party service Watch
Indian Express
03-06-2025
- Climate
- Indian Express
Konkan Railway launches full-fledged monsoon action plan for smooth travel of passengers
The Konkan Railway Corporation Limited (KRCL) has increased its monsoon preparedness to provide secure and uninterrupted travel for passengers, preparing for heavy rains along the Konkan coast. The 740-km Konkan railway track is known for its picturesque but difficult terrain, making it vulnerable to landslides, soil erosion, and waterlogging during monsoon. To confront all such challenges head-on, KRCL has initiated a full-fledged monsoon action plan with the safety of infrastructure, real-time surveillance, and emergency preparedness as the focus. 'The largest relief to passengers is that services will be run without any disruption even in the midst of heavy rainfall — thanks to advanced planning, enhanced safety systems, and increased patrolling,' said Santosh Kumar Jha, chairman and managing director of Konkan Railway on Tuesday. This year, the monsoon schedule will remain in force from June 15 to October 20 with modified sectional speeds to factor in weather-related hazards. To increase security, 636 trained staff are deputed for continuous patrolling at the infamous and weak points. Rail Maintenance Vehicles (RMVs), accident relief trains, and medical teams have been placed at strategic points covering major stations such as Ratnagiri, Verna, Madgaon, and Udupi. According to officials, rescue equipment and staff can be mobilised in the event of any disruption within minutes. Konkan Railway Gears Up for Monsoon-2025. — Konkan Railway (@KonkanRailway) June 3, 2025 'One of the most important initiatives implemented this year was the successful installation of flood warning systems at large rivers and viaducts. These alert the railway personnel when water levels reach hazardous points, enabling timely stoppages and avoiding accidents,' Jha added. Anemometers have also been installed on bridges to measure wind speeds, which can be dangerous for train movement. Passengers are also guaranteed by the KRCL of uninterrupted communication assistance. Control rooms and walkie-talkies are all connected with high-powered VHF radio sets, mobile phones, and satellite phones. Emergency Communication (EMC) outlets are placed each kilometre for field personnel to report emergencies immediately. To prevent landslides and boulder falls, major drainage and slope stabilisation works have already been completed. According to officials, these measures have significantly reduced track disruptions during monsoon over the last decade. 'For real-time updates, passengers are advised to visit the KRCL website or call the 139 helpline. With 24×7 control rooms and daily coordination with the India Meteorological Department, KRCL remains committed to passenger safety and convenience. With these preparations on hand, Konkan Railway is ready to provide a safe and picturesque ride even during the dangerous rain,' said a KRCL spokesperson.
Time of India
03-06-2025
- Business
- Time of India
Nitish Kumar cabinet clears 47 major proposals: new jobs, sewerage projects, VAT cut on aviation fuel
Nitish Kumar NEW DELHI: The Bihar cabinet, led by chief minister Nitish Kumar, on Tuesday approved 47 major proposals, paving the way for new government jobs, key urban infrastructure upgrades, and a significant reduction in VAT on aviation fuel to improve air connectivity. In a major administrative move, the cabinet sanctioned 4,858 new posts across various departments to boost governance and public service delivery. Key urban development decisions included the approval of a Rs 1,320 crore sewerage project in Sasaram, Aurangabad, and Siwan, and a Rs 328 crore drinking water scheme for Ara, Siwan, and Sasaram. A new Bridge Maintenance Policy was also cleared to ensure timely inspections and repairs of bridges across the state. In a bid to attract more air traffic, the cabinet slashed Value-Added Tax (VAT) on Aviation Turbine Fuel (ATF) from 29% to 4%, a move expected to lower costs for airlines and improve connectivity. The cabinet also greenlit the construction of a dry dock facility in Dujra, Patna, which will be the first in the region and used for aircraft repairs. Highlighting women's empowerment, the government announced that "Jeevika Didis", members of women's self-help groups, will now prepare clothes for children enrolled at Anganwadi centres. The cabinet also approved the expansion of urban limits in the Patna region, incorporating more villages into Phulwari Sharif, Danapur, and Khagaul municipalities. The announcements came shortly after Prime Minister Narendra Modi's visit to Bihar, during which he inaugurated and laid the foundation stone for development projects worth Rs 48,520 crore. He was joined by CM Nitish Kumar and Deputy CM Samrat Chowdhary. Chief minister Kumar expressed gratitude to the Prime Minister and the Union government, stating, 'The development work that is being done by Prime Minister Narendra Modi for the development of Bihar. He also announced assistance for Bihar in the budget. Whatever Bihar has received is a matter of pride. I salute the Centre for announcing the caste-based census. People from other parties were trying to create confusion. ' He further asserted that the NDA government in Bihar had prioritised infrastructure, healthcare, and road connectivity, with housing and settlement projects expected to be completed by June 2025. A key project launched during PM Modi's visit was the foundation stone laying for Stage-II of the Nabinagar Super Thermal Power Project in Aurangabad, valued at over Rs 29,930 crore, aimed at boosting power generation, industry, and employment. The PM also laid the foundation for crucial highway projects including the four-laning of Patna-Arrah-Sasaram (NH-119A), six-laning of Varanasi-Ranchi-Kolkata (NH-319B), the Ramnagar-Kacchi Dargah stretch (NH-119D), and a new Ganga bridge between Buxar and Bharauli. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
