Industrial Services Market Report 2026

The industrial services market size has grown strongly in recent years. It will grow from $37.1 billion in 2025 to $39.4 billion in 2026 at a compound annual growth rate (CAGR) of 6.2%. The growth in the historic period can be attributed to expansion of industrial automation adoption, rising complexity of industrial operations, increased outsourcing of maintenance services, growth in process optimization initiatives, availability of advanced industrial technologies.

The industrial services market size is expected to see strong growth in the next few years. It will grow to $49.97 billion in 2030 at a compound annual growth rate (CAGR) of 6.1%. The growth in the forecast period can be attributed to increasing investments in smart manufacturing, rising focus on sustainability-driven operational improvements, growing demand for AI-enabled industrial services, expansion of digital twin and analytics usage, increasing adoption of remote monitoring solutions. Major trends in the forecast period include increasing adoption of predictive maintenance services, rising demand for digital transformation consulting, growing focus on operational efficiency optimization, expansion of industrial automation support services, enhanced integration of data-driven decision systems.

The increasing demand within the automation industry is anticipated to drive the growth of the industrial services market in the foreseeable future. The automation industry comprises the sector that employs various technologies and systems to carry out tasks with minimal human involvement. This rising demand is attributed to several factors, including the need for enhanced efficiency, cost reduction, improved safety, and better data analytics. Automation is implemented in industrial services to boost operational efficiency, lower labor costs, enhance accuracy, and maintain consistent quality across a range of manufacturing and processing tasks. For example, a December 2023 report from Formstack, a US-based software company, indicated that 76% of organizations utilize automation to streamline their daily workflows, with 58% automating data and reporting for planning, while 36% focus on regulatory compliance. As a result, the expanding automation industry is significantly contributing to the growth of the industrial services market.

Major players in the industrial services market are prioritizing the implementation of advanced solutions, particularly digital transformation, to offer dependable services to their clientele. Digital transformations entail integrating digital technology across all aspects of a business, fundamentally reshaping its operations and value delivery to customers. For example, in February 2023, Schneider Electric SE, a French firm specializing in digital automation and energy management, unveiled its Industrial Digital Transformation Consulting and Deployment Service. This service assists industrial enterprises in achieving successful digital transformations by providing specialized end-to-end support. The aim is to expedite strategic planning and seamless implementation of digital transformation initiatives, aiming for tangible outcomes in areas such as operational efficiency, sustainability, energy optimization, asset management, and cybersecurity.

In December 2025, ITT Inc., a US-based provider of engineered components, industrial process technologies, and industrial services, acquired SPX FLOW Inc. for an undisclosed amount. Through this acquisition, ITT aims to expand its industrial process and engineered-equipment capabilities, strengthen its presence in key sectors such as industrial, chemical, energy, and mining, and enhance its technical and aftermarket services globally. SPX FLOW Inc. is a US-based provider of highly engineered industrial equipment and process technologies, offering pumps, mixers, valves, flow-control solutions, and related industrial services for markets including industrial, health and nutrition, mining, and energy.

Major companies operating in the industrial services market include Mitsubishi Electric Corporation, Siemens AG, General Electric Company, Schneider Electric SE, Honeywell International Inc., ABB Ltd., Schlumberger Limited, Baker Hughes Company, Halliburton Company, Bechtel Corporation, Jacobs Engineering Group Inc., Fluor Corporation, Emerson Electric Co., SKF AB, McDermott International Inc., Rockwell Automation Inc., WorleyParsons Ltd., TechnipFMC plc, KBR Inc., SNC-Lavalin Group Inc., Metso Outotec Oyj, Weatherford International plc, Yaskawa Electric Corporation, Fuji Electric Co. Ltd., Yokogawa Electric Corporation, Petrofac Limited, Wood Group Mustang lnc., Samson AG, Wunderlich-Malec Engineering Inc., Dynamysk Automation Ltd., National Oilwell Varco Inc., Cameron International Corporation, Endress+Hauser AG, Eaton Corporation plc, Parker Hannifin Corporation, Danaher Corporation, Johnson Controls International plc, 3M Company, Illinois Tool Works Inc., Stanley Black & Decker Inc.

Asia-Pacific was the largest region in the industrial services market share in 2025. The regions covered in the industrial services market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the industrial services market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The industrial services market includes revenues earned by entities by improvement and maintenance, system integration, technical support, and other services. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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