North America Heavy Machinery Maintenance and Repair Market Size and Forecast (2020 - 2030), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Component (Gearbox and Engine, Electric Motors, Electric Systems, Hydraulic Unit, Propeller Shaft, and Others) and Application (Aluminum & Steel Industry, Hydropower Plants, Construction, Mining, Marine, Agriculture & Forest, Pulp & Paper, and Others)
Suppliers for the maintenance and repair service providers are the component and tools supplier that provides required equipment for the maintenance and repair operations. Apart from the component and tool providers, manufacturers of aftermarket parts also come into the picture. When maintenance and repair service providers replace any parts during the repair services, aftermarket parts provide the needed parts. Maintenance and repair service providers are third-party providers as well as in-house teams of OEM manufacturers. Many service providers have adopted IoT technologies to provide effective and efficient services. The applications in the heavy machinery maintenance and repair service include industries such as construction, energy industry, mining industry, and paper and pulp industry, among others. These applications provide long-term contracts to either OEM service providers or third-party service providers. Many third-party service providers offer value-for-money services as compared to OEM service providers.
The US manufacturers are investing in implementing innovative digital technologies such as IoT, cloud computing, predictive analytics, and artificial intelligence. The annual investment in artificial intelligence reached US$ 150 billion, and the investment in IoT technologies across the US reached US$ 250 billion per year. According to the Insight Partners Estimate in 2022, approximately 76% of manufacturers in the US are adopting various digital tools to improve productivity. A few manufacturers such as Artesis, Bulk Equipment Corporation and others are utilizing predictive maintenance technology to gain information of the machines oil presence, wear and tear issues, tools change requirements on heavy machinery. According to the US Department of Energy, the use of predictive maintenance significantly improves productivity and saves additional costs of operations. Furthermore, the US government is implementing a predictive maintenance program for industrial facilities, resulting in cost-cutting and increased machinery reliability. Depending on the machinery capabilities and maintenance requirements, 30-40% of the additional cost can be reduced with the help of predictive maintenance. The manufacturers can save approximately US$ 50 billion per year due to unplanned downtime of the machinery using predictive maintenance technologies. Heavy machinery failure accounts for approximately 42% of unplanned downtime costs. The cost includes repair, replacement, and maintenance of machinery. The major market players are integrating advanced technologies such as AI, IoT, and predictive maintenance with their services in order to avoid machinery failure. For instance, Hitachi America Ltd. developed a predictive maintenance solution suite to address the heavy machinery repair used in several industries. The company developed data-driven technologies that help their workers provide the most appropriate repair and maintenance services at the right time. The maintenance and repair solutions use several advanced technologies to monitor equipment health. It also helps in predicting future failures. Thus, the rise in digital innovation with the emergence of predictive maintenance is expected to fuel the heavy machinery maintenance and repair market growth in the coming years.
The North America heavy machinery maintenance and repair market is segmented on the basis of component, application, and geography. On the basis component, the market is segmented into gearboxes and engines, electric motors, electronic systems, hydraulic units, propeller shafts, and others. Based on application, the market is segmented into aluminum and steel, hydropower plants, construction, mining, marine, agriculture and forest, pulp and paper, and others. Based on geography, the North America heavy machinery maintenance and repair market is segmented into the US, Canada, and Mexico.
The North America heavy machinery maintenance and repair market analysis is carried out by identifying and evaluating key players in the market. United Rentals Inc., Hydrauliques Continental Inc., Wajax Corp., PSI Repair Service Inc., Halton Hydraulic Ltd., Select Fluid Power Ltd., RHK Hydraulic Cylinder Services Inc., Gir Del Hydraulic Services, Centre Hydraulique GMB Inc., and Simplex Location d'outils Inc. are among the key players analyzed in the North America heavy machinery maintenance and repair market report. The North America heavy machinery maintenance and repair market report also includes growth prospects in light of current North America heavy machinery maintenance and repair market trends and driving factors influencing the market growth.
Companies operating in the North America heavy machinery maintenance and repair market highly adopt inorganic strategies such as mergers and acquisitions. The market initiative is a strategy adopted by companies to expand their footprint across the world and to meet the growing customer demand. The players present in the market are mainly focusing on product and service enhancements by integrating advanced features and technologies into their offerings to increase their North America heavy machinery maintenance and repair market share.
1. Introduction 15
1.1 The Insight Partners Research Report Guidance. 15
1.2 Market Segmentation. 16
2. Executive Summary 18
2.1 Key Insights. 18
2.2 Market Attractiveness. 20
3. Research Methodology 21
3.1 Coverage. 24
3.2 Secondary Research. 24
3.3 Primary Research. 25
4. North America Heavy Machinery Maintenance and Repair Market Landscape 26
4.1 Overview. 26
4.2 PEST Analysis. 27
4.3 Ecosystem Analysis. 28
4.3.1 List of Vendors in the Value Chain. 29
5. North America Heavy Machinery Maintenance and Repair Market - Key Market Dynamics 30
5.1 North America Heavy Machinery Maintenance and Repair Market - Key Market Dynamics. 30
5.2 Market Drivers. 31
5.2.1 Rapid Industrialization and Increased Sales of Heavy Machineries across Manufacturing Sector 31
5.2.2 Surge in Investments in Construction Sector 31
5.2.3 Rise in Demand for Used Machinery and Vehicles across Various Sectors. 32
5.3 Market Restraints. 33
5.3.1 Lack of Skilled Workers and Labor Shortage. 33
5.4 Market Opportunities. 33
5.4.1 Growing Number of Smart City Initiatives Led by Government 33
5.5 Future Trends. 34
5.5.1 Rising Digital Innovation with Emergence of Predictive Maintenance. 34
5.6 Impact of Drivers and Restraints: 35
6. North America Heavy Machinery Maintenance and Repair Market Analysis 36
6.1 North America Heavy Machinery Maintenance and Repair Market Revenue (US$ Billion), 2022-2030. 36
6.2 North America Heavy Machinery Maintenance and Repair Market Forecast and Analysis. 37
7. North America Heavy Machinery Maintenance and Repair Market Analysis - by Component 38
7.1 Gearbox and Engine. 40
7.1.1 Overview. 40
7.1.2 Gearbox and Engine: North America Heavy Machinery Maintenance and Repair Market - Revenue and Forecast to 2030 (US$ Billion) 40
7.2 Electric Motors. 41
7.2.1 Overview. 41
7.2.2 Electric Motors: North America Heavy Machinery Maintenance and Repair Market - Revenue and Forecast to 2030 (US$ Billion) 42
7.3 Electric Systems. 43
7.3.1 Overview. 43
7.3.2 Electric Systems: North America Heavy Machinery Maintenance and Repair Market - Revenue and Forecast to 2030 (US$ Billion) 43
7.4 Hydraulic Unit 44
7.4.1 Overview. 44
7.4.2 Hydraulic Unit: North America Heavy Machinery Maintenance and Repair Market - Revenue and Forecast to 2030 (US$ Billion) 45
7.5 Propeller Shaft 46
7.5.1 Overview. 46
7.5.2 Propeller Shaft: North America Heavy Machinery Maintenance and Repair Market - Revenue and Forecast to 2030 (US$ Billion) 46
7.6 Others. 47
7.6.1 Overview. 47
7.6.2 Others: North America Heavy Machinery Maintenance and Repair Market - Revenue and Forecast to 2030 (US$ Billion) 48
8. North America Heavy Machinery Maintenance and Repair Market Analysis - by Application 49
8.1 Aluminium and Steel Industry. 51
8.1.1 Overview. 51
8.1.2 Aluminium and Steel Industry: North America Heavy Machinery Maintenance and Repair Market - Revenue and Forecast to 2030 (US$ Billion) 51
8.2 Hydropower Plants. 52
8.2.1 Overview. 52
8.2.2 Hydropower Plants: North America Heavy Machinery Maintenance and Repair Market - Revenue and Forecast to 2030 (US$ Billion) 54
8.3 Construction. 55
8.3.1 Overview. 55
8.3.2 Construction: North America Heavy Machinery Maintenance and Repair Market - Revenue and Forecast to 2030 (US$ Billion) 55
8.4 Mining. 56
8.4.1 Overview. 56
8.4.2 Mining: North America Heavy Machinery Maintenance and Repair Market - Revenue and Forecast to 2030 (US$ Billion) 57
8.5 Marine. 58
8.5.1 Overview. 58
8.5.2 Marine: North America Heavy Machinery Maintenance and Repair Market - Revenue and Forecast to 2030 (US$ Billion) 59
8.6 Agriculture and Forest 60
8.6.1 Overview. 60
8.6.2 Agriculture and Forest: North America Heavy Machinery Maintenance and Repair Market - Revenue and Forecast to 2030 (US$ Billion) 60
8.7 Pulp and Paper 61
8.7.1 Overview. 61
8.7.2 Pulp and Paper: North America Heavy Machinery Maintenance and Repair Market - Revenue and Forecast to 2030 (US$ Billion) 61
8.8 Others. 62
8.8.1 Overview. 62
8.8.2 Others: North America Heavy Machinery Maintenance and Repair Market - Revenue and Forecast to 2030 (US$ Billion) 63
9. North America Heavy Machinery Maintenance and Repair Market - Country Analysis 64
9.1 North America. 64
9.1.1 North America Heavy Machinery Maintenance and Repair Market Breakdown by Countries. 64
9.1.2 North America Heavy Machinery Maintenance and Repair Market Revenue and Forecast and Analysis - by Country. 65
9.1.2.1 North America Heavy Machinery Maintenance and Repair Market Revenue and Forecast and Analysis - by Country. 65
9.1.2.2 US: North America Heavy Machinery Maintenance and Repair Market - Revenue and Forecast to 2030 (US$ Billion) 66
9.1.2.2.1 US: North America Heavy Machinery Maintenance and Repair Market Breakdown by Type. 67
9.1.2.2.2 US: North America Heavy Machinery Maintenance and Repair Market Breakdown by Application. 68
9.1.2.3 Canada: North America Heavy Machinery Maintenance and Repair Market - Revenue and Forecast to 2030 (US$ Billion) 69
9.1.2.4 Quebec Overview: 70
9.1.2.4.1 Canada: North America Heavy Machinery Maintenance and Repair Market Breakdown by Type. 71
9.1.2.4.2 Canada: North America Heavy Machinery Maintenance and Repair Market Breakdown by Application. 72
9.1.2.5 Mexico: North America Heavy Machinery Maintenance and Repair Market - Revenue and Forecast to 2030 (US$ Billion) 73
9.1.2.5.1 Mexico: North America Heavy Machinery Maintenance and Repair Market Breakdown by Type. 74
9.1.2.5.2 Mexico: North America Heavy Machinery Maintenance and Repair Market Breakdown by Application. 75
10. North America Heavy Machinery Maintenance and Repair Market - Impact of COVID-19 Pandemic 76
10.1 Pre & Post COVID-19 Impact 76
11. Competitive Landscape 77
11.1 Company Positioning & Concentration. 77
11.2 Company Positioning and Concentration. 78
12. Industry Landscape 79
12.1 Overview. 79
12.2 Market Initiative. 79
12.3 Merger and Acquisition. 80
13. Company Profiles 81
13.1 United Rentals Inc. 81
13.1.1 Key Facts. 81
13.1.2 Business Description. 81
13.1.3 Products and Services. 82
13.1.4 Financial Overview. 85
13.1.5 SWOT Analysis. 87
13.1.6 Key Developments. 91
13.2 Hydrauliques Continental Inc. 92
13.2.1 Key Facts. 92
13.2.2 Business Description. 92
13.2.3 Products and Services. 93
13.2.4 Financial Overview. 95
13.2.5 SWOT Analysis. 96
13.2.6 Key Developments. 97
13.3 Wajax Corp. 98
13.3.1 Key Facts. 98
13.3.2 Business Description. 98
13.3.3 Products and Services. 99
13.3.4 Financial Overview. 102
13.3.5 SWOT Analysis. 105
13.3.6 Key Developments. 107
13.4 PSI Repair Service Inc. 108
13.4.1 Key Facts. 108
13.4.2 Business Description. 108
13.4.3 Products and Services. 109
13.4.4 Financial Overview. 110
13.4.5 SWOT Analysis. 111
13.4.6 Key Developments. 113
13.5 Halton Hydraulic Ltd. 114
13.5.1 Key Facts. 114
13.5.2 Business Description. 114
13.5.3 Products and Services. 115
13.5.4 Financial Overview. 115
13.5.5 SWOT Analysis. 116
13.5.6 Key Developments. 117
13.6 Select Fluid Power Ltd. 118
13.6.1 Key Facts. 118
13.6.2 Business Description. 118
13.6.3 Products and Services. 119
13.6.4 Financial Overview. 120
13.6.5 SWOT Analysis. 120
13.6.6 Key Developments. 122
13.7 RHK Hydraulic Cylinder Services Inc. 123
13.7.1 Key Facts. 123
13.7.2 Business Description. 123
13.7.3 Products and Services. 124
13.7.4 Financial Overview. 124
13.7.5 SWOT Analysis. 125
13.7.6 Key Developments. 126
13.8 Gir Del Hydraulic Services. 127
13.8.1 Key Facts. 127
13.8.2 Business Description. 127
13.8.3 Products and Services. 128
13.8.4 Financial Overview. 128
13.8.5 SWOT Analysis. 129
13.8.6 Key Developments. 130
13.9 Centre Hydraulique GMB Inc. 131
13.9.1 Key Facts. 131
13.9.2 Business Description. 131
13.9.3 Products and Services. 132
13.9.4 Financial Overview. 133
13.9.5 SWOT Analysis. 134
13.9.6 Key Developments. 136
13.10 Simplex Location d'outils Inc. 137
13.10.1 Key Facts. 137
13.10.2 Business Description. 137
13.10.3 Products and Services. 138
13.10.4 Financial Overview. 152
13.10.5 SWOT Analysis. 152
13.10.6 Key Developments. 154
13.11 Advanced Technology Services Inc. 155
13.11.1 Key Facts. 155
13.11.2 Business Description. 155
13.11.3 Products and Services. 156
13.11.4 Financial Overview. 160
13.11.5 SWOT Analysis. 161
13.11.6 Key Developments. 163
14. Appendix 164
14.1 About The Insight Partners. 164
List of TablesTable 1. North America Heavy Machinery Maintenance and Repair Market Segmentation. 16
Table 2. List of Vendors. 29
Table 3. North America Heavy Machinery Maintenance and Repair Market - Revenue and Forecast to 2030 (US$ Billion) 37
Table 4. North America Heavy Machinery Maintenance and Repair Market - Revenue and Forecast to 2030 (US$ Billion) - by Component 39
Table 5. North America Heavy Machinery Maintenance and Repair Market - Revenue and Forecast to 2030 (US$ Billion) - by Application. 50
Table 6. North America Heavy Machinery Maintenance and Repair Market - Revenue and Forecast to 2030 (US$ Billion) - by Country. 65
Table 7. US: North America Heavy Machinery Maintenance and Repair Market - Revenue and Forecast to 2030 (US$ Billion) - by Type. 67
Table 8. US: North America Heavy Machinery Maintenance and Repair Market - Revenue and Forecast to 2030 (US$ Billion) - by Application. 68
Table 9. Canada: North America Heavy Machinery Maintenance and Repair Market - Revenue and Forecast to 2030 (US$ Billion) - by Type. 71
Table 10. Canada: North America Heavy Machinery Maintenance and Repair Market - Revenue and Forecast to 2030 (US$ Billion) - by Application. 72
Table 11. Mexico: North America Heavy Machinery Maintenance and Repair Market - Revenue and Forecast to 2030 (US$ Billion) - by Type. 74
Table 12. Mexico: North America Heavy Machinery Maintenance and Repair Market - Revenue and Forecast to 2030 (US$ Billion) - by Application. 75
Table 13. Heat Map Analysis by Key Players. 78
List of Figures
Figure 1. North America Heavy Machinery Maintenance and Repair Market Segmentation, by Country. 17
Figure 2. PEST Analysis. 27
Figure 3. Impact Analysis of Drivers and Restraints. 35
Figure 4. North America Heavy Machinery Maintenance and Repair Market Revenue (US$ Billion), 2022-2030. 36
Figure 5. North America Heavy Machinery Maintenance and Repair Market Share (%) - by Component, 2022 and 2030. 38
Figure 6. Gearbox and Engine: North America Heavy Machinery Maintenance and Repair Market- Revenue and Forecast to 2030 (US$ Billion) 41
Figure 7. Electric Motors: North America Heavy Machinery Maintenance and Repair Market- Revenue and Forecast to 2030 (US$ Billion) 42
Figure 8. Electric Systems: North America Heavy Machinery Maintenance and Repair Market- Revenue and Forecast to 2030 (US$ Billion) 44
Figure 9. Hydraulic Unit: North America Heavy Machinery Maintenance and Repair Market- Revenue and Forecast to 2030 (US$ Billion) 45
Figure 10. Propeller Shaft: North America Heavy Machinery Maintenance and Repair Market- Revenue and Forecast to 2030 (US$ Billion) 47
Figure 11. Others: North America Heavy Machinery Maintenance and Repair Market- Revenue and Forecast to 2030 (US$ Billion) 48
Figure 12. North America Heavy Machinery Maintenance and Repair Market Share (%) - by Application, 2022 and 2030. 49
Figure 13. Aluminum and Steel Industry: North America Heavy Machinery Maintenance and Repair Market- Revenue and Forecast to 2030 (US$ Billion) 52
Figure 14. Hydropower Plants: North America Heavy Machinery Maintenance and Repair Market- Revenue and Forecast to 2030 (US$ Billion) 54
Figure 15. Construction: North America Heavy Machinery Maintenance and Repair Market- Revenue and Forecast to 2030 (US$ Billion) 56
Figure 16. Mining: North America Heavy Machinery Maintenance and Repair Market- Revenue and Forecast to 2030 (US$ Billion) 57
Figure 17. Marine: North America Heavy Machinery Maintenance and Repair Market- Revenue and Forecast to 2030 (US$ Billion) 59
Figure 18. Agriculture and Forest: North America Heavy Machinery Maintenance and Repair Market- Revenue and Forecast to 2030 (US$ Billion) 60
Figure 19. Pulp and Paper: North America Heavy Machinery Maintenance and Repair Market- Revenue and Forecast to 2030 (US$ Billion) 62
Figure 20. Others: North America Heavy Machinery Maintenance and Repair Market- Revenue and Forecast to 2030 (US$ Billion) 63
Figure 21. North America Heavy Machinery Maintenance and Repair Market Breakdown by Key Countries, 2022 and 2030 (%) 65
Figure 22. US: North America Heavy Machinery Maintenance and Repair Market - Revenue and Forecast to 2030 (US$ Billion) 66
Figure 23. Canada: North America Heavy Machinery Maintenance and Repair Market - Revenue and Forecast to 2030 (US$ Billion) 69
Figure 24. Mexico: North America Heavy Machinery Maintenance and Repair Market - Revenue and Forecast to 2030 (US$ Billion) 73
Figure 25. Company Positioning & Concentration. 77