South East Asia Industrial Services Market Size By Service Type (Shutdown & Turnaround Service, Chemical Cleaning, Mechanical Cleaning), By Industry (Oil And Gas, Chemicals, Refinery), By Geographic Scope And Forecast
South East Asia Industrial Services Market Size By Service Type (Shutdown & Turnaround Service, Chemical Cleaning, Mechanical Cleaning), By Industry (Oil And Gas, Chemicals, Refinery), By Geographic Scope And Forecast
Published Date: August - 2024 | Publisher: MIR | No of Pages: 320 | Industry: latest updates trending Report | Format: Report available in PDF / Excel Format
South East Asia Industrial Services Market Size And Forecast
South East Asia Industrial Services Market size is projected to reach USD 2,820.25 Million by the end of 2030,growing at a CAGR of 5.11% from 2023 to 2030.
With the growing energy sector, the number of industrial energy plants is also increasing leading to providing significant growth to the industrial services market such as downtime and turnaround, decommission, and many others. The South East Asia report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.
South East Asia Industrial Services Market Definition
Industrial services can be explained as the process of maintaining the facility and associated machineries, to minimize breakdowns, enhance uptime, and promote overall reliability. Concisely, Industrial services forms a group of maintenance and cleaning processes for ensuring that assets are kept in good working condition. This is largely essential because when a piece of equipment keeps running at its expected capacity, production operations are likewise sustained, thus having a maintenance plan minimizes maintenance costs, maximizes uptime potential, and ultimately increases profitability.
South East Asia Industrial Services Market Overview
Delivering on these interconnected aims will be difficult due to the variety of countries and situations in Southeast Asia, each of which has its own unique route. To encourage innovation and assist the development of relevant infrastructure, intraregional collaboration and international funding will be essential. Therefore, with the growing energy sector, the number of industrial energy plants is also increasing leading to providing significant growth in the industrial services market such as downtime and turnaround, decommission, and many others.
To boost manufacturing, the Indonesian government is rolling out the Ministry of Industry's Making Indonesia 4.0 roadmap to embrace Industry 4.0. A key piece of this is building a smart hub, the Indonesia Digital Industry Center 4.0. Think of it as an ecosystem for supporting Industry 4.0, a showcase for Indonesia 4.0, and a center for engineering, research, and AI development. All this should open up exciting opportunities for industrial services regionally. But let's be real, the business world is constantly shifting, pushing companies to join forces across Southeast Asia. Factors like tech advancements, changing regulations, and demanding customers are all impacting businesses. It's now harder and more crucial than ever to launch new products and services quickly, making solution development a real challenge.
South East Asia Industrial Services MarketSegmentation Analysis
The South East Asia Industrial Services Market is segmented by Service Type, Industry, and Geography.
South East Asia Industrial Services Market By Service Type
• Shutdown & Turnaround Service• Chemical Cleaning• Mechanical Cleaning• Decontamination• Decommissioning• Tank Cleaning/ Robotic Tank Cleaning• Catalyst Handling• Pipeline & Process Services• Skilled Manpower Supply• Fabrication, Welding & Cutting Services• Oil Flushing• Others
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In 2021, Chemical Cleaning took the top spot, grabbing a whopping 19.73% of the market! And get this – experts predict it'll keep growing at a rate of 5.79% each year. Why? Well, companies rely on these super-specific chemical concoctions to really scrub those heat exchangers clean. Take Asia Waterjet Equipment PTE Ltd, for example. They're all about providing chemical cleaning services, and they're famous for their awesome, custom-built chemical cleaning pumps. Need a pump? They've got 'em in all sorts of materials, depending on the chemical you're using. Plus, they'll give you all the support you need to find the perfect solution for your requirements.
South East Asia Industrial Services Market By Industry
• Oil And Gas• Chemicals• Refinery• Petrochemical• Consumer Products• Automotive• Metal & Mining• Power Plant• Others
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In 2021, the petrochemical sector really stood out, grabbing the biggest chunk of the market at 17.14%! Looking ahead, it's expected to keep growing at a solid pace, around 6.45% each year. These essential hydrocarbons? They come from good ol' crude oil and natural gas. When we distill crude oil, we get all sorts of useful fractions like petroleum gases, naphtha, kerosene, and gas oil – which are basically the building blocks for the petrochemical industry. Because of all that, services like cold cutting, chemical cleaning, pipeline cleaning/flooding/flushing, process pumps, tank cleaning, and sludge removal are super important. They're what keeps these petrochemical plants running smoothly and help avoid accidents caused by broken machinery or nasty toxic waste.
South East Asia Industrial Services Market By Geography
• Thailand• Vietnam• Cambodia• Malaysia• Singapore• Indonesia• Brunei• Philippines• Bangladesh• Rest Of South East Asia
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In the global market split, Indonesia is dominating region-wise while automated is leading according to type. Indonesia is expected to provide proliferating growth to the SEA industrial services market owing to rising industrialization in the country. Indonesia recently termed as the 10th-largest manufacturing nation in the world and its large manufacturing sector has led to almost a quarter of the nation’s total GDP, crossing the manufacturing sectors of the United Kingdom, Russian and Mexico. Geographically, the significant number of businesses in the manufacturing sector are primarily located on the island of Java which accounts for about 58% of GDP.
Key Players
The major players in the market are CR Asia Group, Asia Waterjet Equipment PTE Ltd, Baker Hughes Company, BELFOR, Cahaya Dedikasi Sdn Bhd, CEMAX, Christof Systems GmbH, E&W Industrial Service Asia Co., Ltd., GRUPO SOLARCA, Hydrochem, Hydro-Dyne, Hydron Corporation, Industrial Construction & Maintenance Services Public Company Limited (ICS), INSEE Ecocycle, Jecs S’pore Pte Ltd, and others.
Key Developments
• March 2022, INSEE Ecocycle has made inauguration of a new state-of-the-art pyrolysis plant at its Puttalam Cement Plant. This is with the aim of converting industrial waste into valuable resources, and extending support for a circular economy. The plant is equipped with advanced technologies and this marks an important milestone in the journey of INSEE Eco cycle’s sustainable waste management.
Report Scope
REPORT ATTRIBUTES
DETAILS
STUDY PERIOD
2018-2030
BASE YEAR
2021
FORECAST PERIOD
2023-2030
HISTORICAL PERIOD
2018-2020
UNIT
Value (USD Million)
KEY COMPANIES PROFILED
CR Asia Group, Asia Waterjet Equipment PTE Ltd, Baker Hughes Company, BELFOR, Cahaya Dedikasi Sdn Bhd, CEMAX, Christof Systems GmbH, E&W Industrial Service Asia Co., Ltd., & Others
SEGMENTS COVERED
Service Type, Industry, and Geography.
CUSTOMIZATION SCOPE
Free report customization (equivalent to up to 4 analysts’ working days) with purchase. Addition or alteration to country, regional & segment scope.
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South East Asia Industrial Services Market Infographic
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Research Methodology of Market Research
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Reasons to Purchase this Report
We take a deep dive into the market using both qualitative and quantitative analysis, segmenting it based on economic and non-economic elements. You'll get market value (in USD Billion) for every segment and sub-segment. We pinpoint which region and segment should see the biggest growth and lead the pack. Expect a geographic breakdown analyzing product/service consumption and the factors shaping each regional market. Our competitive landscape section ranks the key players and highlights their new offerings, collaborations, expansions, and acquisitions over the last five years. We provide detailed company profiles – think company overviews, insights, product comparisons, and SWOT analyses – for all the major market players. You'll get a view of the industry's present and future, considering recent events, growth potential, driving forces, challenges, and limitations in both emerging and mature regions. We also perform an in-depth analysis using Porter's Five Forces. Plus, we give you insight into the market's value chain, the market's dynamics, and future growth opportunities. And, you get 6 months of analyst support after your purchase!
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