PUBLISHER: The Business Research Company | PRODUCT CODE: 1895265
PUBLISHER: The Business Research Company | PRODUCT CODE: 1895265
Repair and maintenance refer to the processes and activities undertaken to keep equipment, machinery, or systems in optimal working condition, restore functionality after faults, and prevent unexpected breakdowns. Maintenance can be preventive, predictive, or corrective, while repair focuses on fixing specific issues to ensure operational continuity. The primary purpose of repair and maintenance is to extend the lifespan of assets, ensure safety, improve reliability, and minimize downtime.
The repair and maintenance market consists of sales by entities (organizations, sole traders and partnerships) of repair and maintenance services that are essential for minimizing downtime, optimizing performance, ensuring compliance with regulations and extending asset life cycles. The main users of the market include manufacturing firms, logistics providers, real estate managers, utilities, government agencies and individual consumers.
The global repair and maintenance market reached a value of nearly $1,596.54 billion in 2024, having grown at a compound annual growth rate (CAGR) of 6.56% since 2019. The market is expected to grow from $1,596.54 billion in 2024 to $2,322.59 billion in 2029 at a rate of 7.79%. The market is then expected to grow at a CAGR of 7.70% from 2029 and reach $3,365.99 billion in 2034.
Increasing Industrial Automation
The increasing industrial automation supported the growth of the repair and maintenance market in the historic period. As industries integrated automated machinery and intelligent systems into their operations, the demand for specialized maintenance and repair services rose. Automated equipment requires regular servicing, timely diagnostics and technical expertise to ensure optimal performance, minimize downtime and extend operational lifespan. Additionally, the complexity of automated systems created opportunities for service providers to offer advanced solutions tailored to specific industrial needs. Consequently, the expansion of industrial automation played a pivotal role in driving the repair and maintenance market, laying a strong foundation for its continued development in subsequent periods. For instance, in September 2024, according to the International Federation of Robotics (IFR), a German-based non-profit organization, reported that industrial robot installations in the UK rose by 51%, reaching 3,830 units, while in the Americas, over 50,000 units were installed for the third consecutive year, totaling 55,389 units in 2023. Therefore, the increasing industrial automation drove the growth of the repair and maintenance market.
Strengthening Aftermarket Services Through Multi-Brand Expansion And Customer Solutions
Major companies operating in the repair and maintenance market are focusing on expanding multi-brand service networks, enhancing accessibility through affordable and standardized car care solutions and leveraging global expertise to deliver high-quality, customer-centric maintenance and repair services. For instance, in March 2025, Stellantis, a Netherlands-based automotive manufacturing company, has launched Eurorepar Car Service (ERCS) in India, marking its entry into the country's expanding automotive aftermarket. The first multi-brand workshop, Moto-R, is now operational, offering affordable, high-quality servicing that meets global standards. ERCS aims to provide reliable maintenance, diagnostics and genuine spare parts for multiple vehicle brands, an accessible alternative to traditional original equipment manufacturer (OEM) workshops. Backed by a global network of 6,000+ service centres across 30 countries, Stellantis plans to expand ERCS to over 100 outlets in India within two years. This initiative underscores Stellantis' commitment to enhancing vehicle ownership experience through professional, cost-effective and customer-centric car care solutions.
The global repair and maintenance market is highly fragmented, with a large number of small players operating in the market. The top ten competitors in the market made up to 1.13% of the total market in 2024.
Repair And Maintenance Global Market Opportunities And Strategies To 2034 from The Business Research Company provides the strategists; marketers and senior management with the critical information they need to assess the global repair and maintenance market as it emerges from the COVID-19 shut down.
Where is the largest and fastest-growing market for repair and maintenance? How does the market relate to the overall economy; demography and other similar markets? What forces will shape the market going forward? The repair and maintenance market global report from The Business Research Company answers all these questions and many more.
The report covers market characteristics; size and growth; segmentation; regional and country breakdowns; competitive landscape; market shares; trends and strategies for this market. It traces the market's history and forecasts market growth by geography. It places the market within the context of the wider repair and maintenance market; and compares it with other markets.