PUBLISHER: Global Market Insights Inc. | PRODUCT CODE: 1797770
PUBLISHER: Global Market Insights Inc. | PRODUCT CODE: 1797770
Electronic Equipment Repair Services Market Opportunity, Growth Drivers, Industry Trend Analysis, and Forecast 2025 - 2034
The Global Electronic Equipment Repair Services Market was valued at USD 137.1 billion in 2024 and is estimated to grow at a CAGR of 6.3% to reach USD 253.5 billion by 2034. This market growth is driven by concerns surrounding sustainability and e-waste, rising costs of new electronics, and the growing use of industrial and medical devices. With electronic waste becoming an increasing environmental concern due to the harmful substances it contains and the inefficiency of recycling systems, repair services have become a critical solution. Additionally, as the cost of replacing devices continues to rise, consumers and businesses alike are seeking repair services as a cost-effective alternative to purchasing new products. High-end devices like smartphones, laptops, and industrial electronics often come with a hefty price tag, making repairs a more viable and economical option for extending the life of these products.
The demand for repair services is growing in line with the increasing penetration of consumer electronics and the expanding use of industrial and medical devices. Consumers are also becoming more focused on environmental sustainability, contributing to the preference for repairs instead of replacements. In this changing landscape, businesses are adapting to customer needs by offering reliable, affordable, and efficient repair services to maintain their customer base and meet sustainability goals.
| Market Scope | |
|---|---|
| Start Year | 2024 |
| Forecast Year | 2025-2034 |
| Start Value | $137.1 Billion |
| Forecast Value | $253.5 Billion |
| CAGR | 6.3% |
In terms of service types, the market is divided into in-warranty and out-of-warranty services. The in-warranty segment, which was valued at USD 57.3 billion in 2024, benefits from manufacturer-backed repairs that offer predictable demand and lower out-of-pocket costs for consumers. Manufacturers typically offer warranties of 12 to 24 months to cover defects in materials and workmanship, which supports the dominance of original equipment manufacturers (OEMs) in this segment. To tap into the growing demand for in-warranty services, repair providers must focus on obtaining approved service agreements and leveraging technology-driven diagnostics to minimize repair times and improve service delivery.
The consumer electronics segment accounted for a 28.7% share in 2024. The rapid growth in the use of smartphones, laptops, and other personal devices is driving the demand for repair services. As consumers become more focused on cost-effective options, repair services are becoming an increasingly popular alternative to device replacement, especially given the rapidly evolving nature of the electronics market.
U.S. Electronic Equipment Repair Services Market generated USD 36.9 billion in 2024, benefiting from a strong industrial infrastructure and high consumer electronics penetration. Consumer behavior in the U.S. is shifting, with more than 45% of U.S. consumers opting for repairs rather than replacements, according to the Consumer Technology Association. This trend is expected to continue as consumers face rising device prices and become more environmentally conscious. Service providers aiming to capture market share in the U.S. need to focus on expanding their authorized service center networks, improving diagnostic capabilities, and supporting environmentally friendly practices.
The top players in the Global Electronic Equipment Repair Services Market include companies like Rockwell Automation Inc., Koninklijke Philips N.V., Curtiss-Wright Corporation, Encompass Supply Chain Solutions, and Forth Corporation Public Company Limited. To strengthen their position in the electronic equipment repair services market, leading companies are focusing on expanding their service networks and enhancing their service offerings. A key strategy involves deepening partnerships with OEMs to ensure authorized repair services and certifications, which are essential for warranty-backed repairs. Additionally, businesses are investing in advanced diagnostic tools and technologies to streamline repair processes and minimize downtime, ensuring a faster turnaround for customers. Companies are also focusing on sustainability by incorporating environmentally friendly practices such as using eco-friendly materials and reducing e-waste. Another important strategy is the development of digital platforms that enable easy customer access to repair services, further enhancing convenience and customer satisfaction. Lastly, service providers are looking to differentiate themselves by offering customized services, based on the specific needs of the customers, especially as the demand for personalized repair solutions increases.
Table of Contents
Chapter 1 Methodology & Scope
- 1.1 Market scope and definition
- 1.2 Research design
- 1.2.1 Research approach
- 1.2.2 Data collection methods
- 1.3 Data mining sources
- 1.3.1 Global
- 1.3.2 Regional/Country
- 1.4 Base estimates and calculations
- 1.4.1 Base year calculation
- 1.4.2 Key trends for market estimation
- 1.5 Primary research and validation
- 1.5.1 Primary sources
- 1.6 Forecast model
- 1.7 Research assumptions and limitations
Chapter 2 Executive Summary
- 2.1 Industry 360° synopsis
- 2.2 Key market trends
- 2.2.1 Product type trends
- 2.2.2 Service type trends
- 2.2.3 Product type trends
- 2.2.4 Sales channel trends
- 2.2.5 End use trends
- 2.2.6 Regional trends
- 2.3 TAM Analysis, 2025-2034 (USD Billion)
- 2.4 CXO perspectives: Strategic imperatives
- 2.4.1 Executive decision points
- 2.4.2 Critical success factors
- 2.5 Future Outlook and strategic recommendations
Chapter 3 Industry Insights
- 3.1 Industry ecosystem analysis
- 3.1.1 Supplier landscape
- 3.1.2 Profit margin
- 3.1.3 Cost structure
- 3.1.4 Value addition at each stage
- 3.1.5 Factor affecting the value chain
- 3.1.6 Disruptions
- 3.2 Impact forces
- 3.2.1 Growth drivers
- 3.2.1.1 Rising cost of new electronics
- 3.2.1.2 Sustainability and e-waste concerns
- 3.2.1.3 Expansion of consumer electronics
- 3.2.1.4 Increasing industrial and medical device usage
- 3.2.1.5 Growth of third-party repair providers
- 3.2.2 Industry pitfalls & challenges
- 3.2.2.1 Rapid technological obsolescence
- 3.2.2.2 Limited access to OEM parts and tools
- 3.2.1 Growth drivers
- 3.3 Growth potential analysis
- 3.4 Regulatory landscape
- 3.4.1 North America
- 3.4.2 Europe
- 3.4.3 Asia Pacific
- 3.4.4 Latin America
- 3.4.5 Middle East & Africa
- 3.5 Porter's analysis
- 3.6 PESTEL analysis
- 3.7 Technology and innovation landscape
- 3.7.1 Current technological trends
- 3.7.2 Emerging technologies
- 3.8 Emerging business models
- 3.9 Compliance requirements
- 3.10 Consumer sentiment analysis
- 3.11 Patent and IP analysis
- 3.12 Geopolitical and trade dynamics
Chapter 4 Competitive Landscape, 2024
- 4.1 Introduction
- 4.2 Company market share analysis
- 4.2.1 By region
- 4.2.1.1 North America
- 4.2.1.2 Europe
- 4.2.1.3 Asia Pacific
- 4.2.1.4 Latin America
- 4.2.1.5 MEA
- 4.2.2 Market concentration analysis
- 4.2.1 By region
- 4.3 Competitive benchmarking of key players
- 4.3.1 Financial performance comparison
- 4.3.1.1 Revenue
- 4.3.1.2 Profit margin
- 4.3.1.3 R&D
- 4.3.2 Product portfolio comparison
- 4.3.2.1 Product range breadth
- 4.3.2.2 Technology
- 4.3.2.3 Innovation
- 4.3.3 Geographic presence comparison
- 4.3.3.1 Global footprint analysis
- 4.3.3.2 Service network coverage
- 4.3.3.3 Market penetration by region
- 4.3.4 Competitive positioning matrix
- 4.3.4.1 Leaders
- 4.3.4.2 Challengers
- 4.3.4.3 Followers
- 4.3.4.4 Niche players
- 4.3.5 Strategic outlook matrix
- 4.3.1 Financial performance comparison
- 4.4 Key developments, 2021-2024
- 4.4.1 Mergers and acquisitions
- 4.4.2 Partnerships and collaborations
- 4.4.3 Technological advancements
- 4.4.4 Expansion and investment strategies
- 4.4.5 Digital Transformation Initiatives
- 4.5 Emerging/ Startup Competitors Landscape
Chapter 5 Market Estimates & Forecast, By Service Type, 2021-2034 (USD Million)
- 5.1 Key trends
- 5.2 In-warranty
- 5.3 Out-of-warranty
Chapter 6 Market Estimates & Forecast, By Product Type, 2021-2034 (USD Million)
- 6.1 Key trends
- 6.2 Consumer electronics
- 6.2.1 Smartphones & mobile phones
- 6.2.2 Televisions
- 6.2.3 Notebooks & laptops
- 6.2.4 Tablets
- 6.2.5 Others
- 6.3 Home Appliances
- 6.3.1 Refrigerators
- 6.3.2 Air conditioners
- 6.3.3 Microwaves
- 6.3.4 Washing machines
- 6.3.5 Others
- 6.4 Medical equipment
- 6.4.1 Medical monitors
- 6.4.2 Lab equipment
- 6.4.3 Dental clinic equipment
- 6.4.4 Ventilators
- 6.4.5 CT scanners
- 6.4.6 Others
- 6.5 Industrial equipment
- 6.5.1 Motors & generators
- 6.5.2 Voltmeters
- 6.5.3 Programmable Logic Controllers (PLC)
- 6.5.4 Laser equipment
- 6.5.5 Others
- 6.6 Others
Chapter 7 Market Estimates & Forecast, By Sales Channel, 2021-2034 (USD Million)
- 7.1 Key trends
- 7.2 Authorized service centers
- 7.3 Third-party repair shops
- 7.4 Others
Chapter 8 Market Estimates & Forecast, By End Use, 2021-2034 (USD Million)
- 8.1 Key trends
- 8.2 Industrial/Commercial
- 8.3 Residential
Chapter 9 Market Estimates & Forecast, By Region, 2021-2034 (USD Million)
- 9.1 Key trends
- 9.2 North America
- 9.2.1 U.S.
- 9.2.2 Canada
- 9.3 Europe
- 9.3.1 UK
- 9.3.2 Germany
- 9.3.3 France
- 9.3.4 Italy
- 9.3.5 Spain
- 9.3.6 Netherlands
- 9.4 Asia Pacific
- 9.4.1 China
- 9.4.2 India
- 9.4.3 Japan
- 9.4.4 South Korea
- 9.4.5 Australia
- 9.5 Latin America
- 9.5.1 Brazil
- 9.5.2 Mexico
- 9.5.3 Argentina
- 9.6 MEA
- 9.6.1 South Africa
- 9.6.2 Saudi Arabia
- 9.6.3 UAE
Chapter 10 Company Profiles
- 10.1 Global Key Players
- 10.1.1 Koninklijke Philips N.V.
- 10.1.2 Rockwell Automation Inc.
- 10.1.3 Curtiss-Wright Corporation
- 10.1.4 Bose Corporation
- 10.1.5 Quest International, Inc.
- 10.2 Regional Key Players
- 10.2.1 North America
- 10.2.1.1 PSI Repair Services, Inc.
- 10.2.1.2 Altra Service Professionals
- 10.2.1.3 Encompass Supply Chain Solutions
- 10.2.1.4 ASAP electronic repairs
- 10.2.2 Europe
- 10.2.2.1 AML Instruments Limited
- 10.2.2.2 Greasley Electronics LTD
- 10.2.2.3 IER Industrial Electronic Repairs LTD
- 10.2.2.4 Multicare Electronics Ltd.
- 10.2.2.5 Real Electronics 2 Ltd.
- 10.2.2.6 Repair World Direct
- 10.2.2.7 Screamer Electronic Services
- 10.2.2.8 JTD Electronics Ltd
- 10.2.3 Asia Pacific
- 10.2.3.1 Urtronics India
- 10.2.3.2 INDufit MACHINEs
- 10.2.1 North America
- 10.3 Disruptors / Niche Players
- 10.3.1 iCracked, Inc.
- 10.3.2 Forth Electronics
