PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1766030
PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1766030
According to Stratistics MRC, the Global Oil & Gas Refinery Maintenance Service Market is accounted for $4.04 billion in 2025 and is expected to reach $6.04 billion by 2032 growing at a CAGR of 5.93% during the forecast period. Oil & gas refinery maintenance services are critical to ensuring the safe, efficient, and continuous operation of refining facilities. Cleaning, emergency repairs, corrosion monitoring, equipment overhauls, and routine inspections are just a few of the many services that fall under this broad category. In order to meet production targets and adhere to strict safety and environmental regulations, refineries rely on maintenance services to minimize unplanned downtime and extend the operational life of critical assets like heat exchangers, pumps, compressors, and pipelines. As modern refineries become more complex, maintenance providers are using digital technologies like IoT sensors, predictive analytics, and remote monitoring systems more and more to optimize maintenance schedules and lower operational risks.
According to Reuters, China's crude throughput in May 2025 fell 1.8% year-on-year to its lowest level since August 2024, with the average operating rate of primary refining units dipping to 72.87%, after 11 refineries shut down either fully or partially for maintenance.
Deteriorating equipment and infrastructure
A large percentage of the equipment in many oil and gas refineries that are currently in operation is approaching or past its original design life because they were built decades ago. Because of this, these facilities are more susceptible to leaks, inefficiencies, and mechanical failures. It is necessary to regularly inspect, repair, or replace aging parts like pressure vessels, heat exchangers, and piping systems. Therefore, maintenance services are necessary to update antiquated systems to meet modern performance and safety standards in addition to restoring functionality.
Expensive turnarounds and maintenance services
The high expense of maintenance tasks, particularly during scheduled turnarounds, is one of the biggest obstacles. A facility must frequently be shut down entirely or in part for these maintenance events, which results in lost output and income. For large refineries, the costs of labor, specialized equipment, materials, and safety compliance during these times can total hundreds of millions of dollars. Additionally, the financial impact increases if deadlines are missed. Due to their narrow profit margins, smaller refineries may put off essential maintenance, which could raise long-term risks while reducing short-term service demand.
Growth in emerging economies' refining capability
Energy demand and fuel consumption are rising as a result of rapid industrialization and urbanization in nations like Brazil, Nigeria, China, Vietnam, and India. These countries are making significant investments in expanding their current refineries and constructing new ones in order to meet their domestic energy needs and lessen their reliance on imported fuels. Additionally, the long-term need for specialized maintenance services is growing along with refining infrastructure. Service providers can gain from multi-year contracts for inspection, repair, and optimization work if they develop early partnerships or presence in these markets.
High operational risk of mishaps and safety obligations
Working with flammable materials, high-pressure vessels, confined spaces, and toxic gases are just a few of the tasks that are intrinsically dangerous in refinery maintenance. Serious mishaps, such as fires, explosions, or chemical leaks, can arise from any violations of safety procedures during maintenance. In addition to stopping operations, these incidents may expose maintenance providers to legal action, regulatory scrutiny, and harm to their reputation. Furthermore, the market will get more competitive as refineries raise their safety requirements, limiting competition to suppliers with verified safety records and certifications.
The COVID-19 pandemic caused supply chain disruptions, lockdowns, and workforce restrictions that had a significant effect on the oil and gas refinery maintenance services market. The decline in oil demand and prices forced many refineries to postpone or cancel planned maintenance and turnaround activities in order to save money. Moreover, this resulted in a backlog of maintenance tasks, increased safety hazards from extended equipment use, and decreased service providers' revenue streams. Important maintenance projects were also delayed because of travel restrictions and health precautions that restricted the number of qualified workers on the job site.
The long-term service agreements (LTSA) segment is expected to be the largest during the forecast period
The long-term service agreements (LTSA) segment is expected to account for the largest market share during the forecast period. These contracts, which usually last for a number of years, give refineries improved operational and financial stability along with assurances of equipment availability and lifecycle performance. Refineries are able to integrate advanced technologies and on-site resident engineering support, minimize unplanned shutdowns, and secure predictable costs by partnering with OEMs or specialized service providers under LTSAs. Additionally, LTSAs are now the most common contracting model, surpassing short-term, performance-based, and time-and-material contracts as refineries move toward risk-sharing and performance guarantees.
The medium scale refineries segment is expected to have the highest CAGR during the forecast period
Over the forecast period, the medium scale refineries segment is predicted to witness the highest growth rate. These facilities, which process 100,000 to 200,000 barrels a day on average, require more frequent and varied maintenance because of their size and operational complexity, which accelerates the growth of service needs. By enabling modular upgrades, digital retrofits, and customized maintenance schedules, this segment offers maintenance providers the best possible balance between capacity and flexibility. In order to secure regional supplies, emerging markets are investing in medium-sized facilities, which present a significant opportunity for growth in the maintenance services market.
During the forecast period, the North America region is expected to hold the largest market share, driven by its extensive network of aging refineries, strict safety and environmental regulations, and high maintenance intensity. The largest refining capacity in the world is operated by the United States alone, and regular turnarounds, upgrades, and inspection cycles guarantee a consistent demand for maintenance services. Service requirements are further increased by the adoption of advanced technologies, such as digital twins, automation, and predictive maintenance. North America remains the market leader, providing long-term prospects for service providers across all contract types due to its skilled workforce availability, strict regulatory oversight, and steady investment in refining infrastructure.
Over the forecast period, the Asia Pacific region is anticipated to exhibit the highest CAGR, driven by substantial investments in expanding refining capacity in nations like China, India, and Southeast Asia, as well as by fast industrialization and rising energy demand. There is a significant need for specialized maintenance services because many refineries in the area are either brand-new or undergoing significant upgrades in order to meet cleaner fuel standards and higher throughput targets. Furthermore, Asia-Pacific is the region with the fastest rate of growth for digital maintenance solutions due to factors like increased environmental regulations, regional safety compliance, and a growing emphasis on operational efficiency.
Key players in the market
Some of the key players in Oil & Gas Refinery Maintenance Service Market include CIC Group Inc., Intertek Group Plc, MedEuropa Refining Group, Aegion Corporation, STI Group, Fluor Corporation, Petrofac Limited, Chiyoda Corporation, KBR Inc., Pioneer Industrial Corp., Shell, Turner Industries Group, Baker Hughes, Saipem S.p.A., Zachry Brands Inc. and Schlumberger Limited.
In June 2025, Petrofac has been selected by ADNOC Gas to undertake an Engineering, Procurement and Construction Management Services (EPCM) contract for a US$1.2 billion project to expand its gas production facilities on Das Island. As part of the overall Rich Gas Development (RGD) Programme, Petrofac will provide EPCM services and oversee procurement and construction contracts to build a new inlet facility, two new gas dehydration and compression trains, each with a capacity of 420 million standard cubic feet per day (MMSCFD), and associated infrastructure.
In March 2025, CIC Partners is pleased to announce an agreement to sell CraftMark Bakery, a supplier of bakery products for quick service restaurants and in-store retail bakeries, to One Equity Partners. CraftMark Bakery was launched as a ground-up project in 2013 to support the needs of a leading QSR brand. CIC partnered with CIC Operating Partner and serial entrepreneur, Bennie Bray along with bakery industry innovators, Ahmad Hamade and Jim Zakian, to build a new platform in the commercial bakery space.
In January 2025, Fluor Corporation announced that its Mining & Metals business was awarded a joint venture contract with Hatch to perform engineering, procurement and construction management (EPCM) for BHP's proposed Olympic Dam Smelter & Refinery Expansion Project in South Australia, which remains subject to Final Investment Decision by BHP. Fluor will recognize its undisclosed portion of the contract value in the fourth quarter of 2024.
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.