The production of repair and installation of industrial machinery and equipment in the US stood at $52 billion in 2023. The forecasted growth through 2028 indicates a positive trend, with year-on-year increases from 2024 to 2028. The industry is projected to rise to $58.08 billion by 2028, marking a compound annual growth rate (CAGR) over this period.
Future trends to watch for:
- Advancements in technology and automation driving efficiency and demand
- Increased emphasis on sustainability and energy-efficient machinery
- Potential supply chain challenges affecting equipment availability and cost
- Growing demand for specialized skills in installation and maintenance
