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 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.

The Indonesian government will employ the Making Indonesia 4.0 roadmap from the Ministry of Industry to adopt industry 4.0 and hasten the growth of the manufacturing sector. It comprises constructing an intelligent structure for Indonesia’s Digital Industry Center 4.0. The building will include an ecosystem for Industry 4.0 support, an Indonesia 4.0 exhibition, engineering, and research and development for artificial intelligence. All these factors are expected to provide lucrative opportunities for the demand for industrial services in the overall regional perspective. However, numerous economic and dynamic changes have an impact on the corporate environment, forcing corporations to consolidate across Southeast Asia. Businesses may simultaneously be influenced by technology and commercial developments, various types of deregulations, customer demands, and other things. Fast new product and service releases are now much more crucial and difficult due to all these elements and trends, which increase the complexity of solution development.

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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Chemical Cleaning accounted for the largest market share of 19.73% in 2021, and are projected to grow at a CAGR of 5.79% during the forecast period. Companies use specialized compound mixtures for chemical cleaning of heat exchangers for effective and comprehensive cleaning. For instance, Asia Waterjet Equipment PTE Ltd provides chemical cleaning services to their customers. They are known for a range of high-quality chemical cleaning pumps that are designed which fulfil specific needs. They offer pumps in a range of materials depending on the chemical intend to use and will offer all the support every need to ensure that find the ideal solution for customer 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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Petrochemical accounted for the largest market share of 17.14% in 2021, and is projected to grow at a CAGR of 6.45% during the forecast period. These hydrocarbons are derived from crude oil and natural gas. Among the various fractions produced by distillation of crude oil, petroleum gases, naphtha, kerosene, and gas oil are the main feedstocks for the petrochemical industry. Therefore services including cold cutting, chemical cleaning, pipeline cleaning/flooding/flushing , process pumps, tank cleaning and sludge removal are some the essential services required to run the petrochemical plants in a smooth manner and minimize the probability of any accidents associated with machinery malfunctioning or toxic wastes.

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.

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Reasons to Purchase this Report

• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors• Provision of market value (USD Billion) data for each segment and sub-segment• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled• Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players• The current as well as the future market outlook of the industry with respect to recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions• Includes in-depth analysis of the market from various perspectives through Porter’s five forces analysis• Provides insight into the market through Value Chain• Market dynamics scenario, along with growth opportunities of the market in the years to come• 6-month post-sales analyst support

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