Global Retrofitting Services Market: Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020 – 2026

The Global Retrofitting Services Market size is expected to reach US$ XX Mn. by 2026 from US$ XX Mn. in 2019, at a CAGR of XX% during the forecast period.

Global Retrofitting Services Market Dynamics

Industrial automation and IoT sensors to drive the market

In recent times, most organizations are moving towards the adoption of industrial automation to increase productivity at a low cost and optimize the performance of the machinery. Due to the emerging industrial automation and IoT-enabled manufacturing system, many businesses are modernizing their machinery to remain competitive in the market. According to the report, with the adoption of IoT, approximately 30% of productivity growth was reported by the organizations. The IoT sensors collect and store data such as cost, maintenance prediction, time taken for the production process, etc. from the machinery. Many of the organizations are unable to replace current machines with smart machines due to the high purchasing cost or a machine that has healthier operational life. For those organizations, retrofitting services are the best option to upgrade the machine by replacing old tools with the smart components of the current machine. The retrofitting enables the machine to work as a smart machine and sends important information about the machine, which helps to improve productivity, reliability, and also increases the lifespan of the machine. However, the energy retrofitting system is being adopted by commercial buildings to reduce the energy demand is expected to create many lucrative opportunities for the market across the globe.

Global Retrofitting Services Market Segment Analysis

Global Retrofitting Services Market To know about the Research Methodology :- Request Free Sample Report The industrial end-user segment is expected to hold the largest market share of XX% of the global market due to increasing demand for retrofitting in manufacturing to increase productivity and reduce the maintenance cost of the machinery. The emerging trend of industrial automation led industries to modernize their manufacturing system to survive in the competitive market. But for many industries to replace machinery is not possible, especially if the available machinery has long life or the purchasing cost of the machinery is high. Retrofitting of machinery enables users to replace the old parts with advanced components of the machinery and upgrade, so it can work as a smart machine. The retrofitting facilitates increased productivity, safety at the workplace, reliability, and life span of the machinery. As result, the retrofitting services in the industrial segment are expected to receive massive growth. Global Retrofitting Services Market 1 Large enterprises held the largest market share in 2019 and are expected to witness the highest growth at a CAGR of XX% during the forecast period. The retrofitting services are highly adopted by large organizations, as the organizations operate with a large amount of machinery. Due to this to replace the current machinery with cutting-edge machinery has become difficult for large organisations. To tackle this problem the organisations are adopting retrofitting of the machinery to upgrade current machinery and enhance the process quality, reliability, and cut the cost.

Global Retrofitting Services Regional Insights

North America is expected to witness the highest growth during the forecast period

North America is expected to witness the highest growth at a CAGR of XX% during the forecast period. In countries like the US and Canada retrofitting commercial buildings to reduce energy consumption is expected to boost the market. However, in Canada, the government announced to invest US$600000 for the Pembina Institute to support two energy efficiency retrofit projects. From which US$200000 for the pilot project and the remaining amount will be given to the five to eight additional municipalities across Canada for retrofitting multi-unit residential building stock. The Asia Pacific is expected to witness rapid growth throughout the forecast period due to the increasing awareness about retrofitting in developing countries. The Asia Pacific countries such as Japan and China have the presence of the large number of manufacturers, which is expected to boost the retrofitting of industrial machinery. However, the adoption of energy retrofitting for commercial and residential buildings to reduce the energy demand is expected to create many lucrative opportunities for the market in the Asia Pacific. The objective of the report is to present a comprehensive analysis of the global Retrofitting Services market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers, and new entrants. PORTER, SWOT, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding the global Retrofitting Services market dynamic, structure by analyzing the market segments and project the global Retrofitting Services market clear representation of competitive analysis of key players by price, financial position, by detection and equipment portfolio, growth strategies, and regional presence in the global Retrofitting Services market make the report investor’s guide.

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Global Retrofitting Services Market 3

Global Retrofitting Services Market, by Region

• North America • Europe • Asia-Pacific • South America • Middle East & Africa

Global Retrofitting Services Market Key Players

• Siemens AG • L&T Technology Services Limited • Ammann Group • Freudenberg Performance Materials • Nishat Mills • Banswara Syntex • Daikin Industries • Eaton Corp. • Ameresco, Inc. • Heller • Radiator Labs • NW Seismic Retrofitting • ABB Ltd. • Schneider Electric • 3M • Hurco Companies • Stuga Machinery • Hacohen Machinery • Hubbell • Alstom • GE • Festo
1. Preface 1.1. Market Definition and Key Research Objectives 1.2. Research Highlights 2. Assumptions and Research Methodology 2.1. Report Assumptions 2.2. Abbreviations 2.3. Research Methodology 2.3.1. Secondary Research 2.3.1.1. Secondary data 2.3.1.2. Secondary Sources 2.3.2. Primary Research 2.3.2.1. Data from Primary Sources 2.3.2.2. Breakdown of Primary Sources 3. Executive Summary: Global Retrofitting Services Market Size, by Market Value (US$ Mn) 3.1. Global Market Segmentation 3.2. Global Market Segmentation Share Analysis, 2019 3.2.1. Global 3.2.2. By Region (North America, Europe, Asia Pacific, South America, Middle East Africa) 3.3. Geographical Snapshot of the Retrofitting Services Market 3.4. Geographical Snapshot of the Retrofitting Services Market, By Manufacturer share 4. Global Retrofitting Services Market Overview, 2019-2026 4.1. Market Dynamics 4.1.1. Drivers 4.1.1.1. Global 4.1.1.2. By Region (North America, Europe, Asia Pacific, South America, Middle East Africa) 4.1.2. Restraints 4.1.2.1. Global 4.1.2.2. By Region (North America, Europe, Asia Pacific, South America, Middle East Africa) 4.1.3. Opportunities 4.1.3.1. Global 4.1.3.2. By Region (North America, Europe, Asia Pacific, South America, Middle East Africa) 4.1.4. Challenges 4.1.4.1. Global 4.1.4.2. By Region (North America, Europe, Asia Pacific, South America, Middle East Africa) 4.1.5. Industry Trends and Emerging Technologies 4.1.6. Porters Five Forces Analysis 4.1.6.1. Threat of New Entrants 4.1.6.2. Bargaining Power of Buyers/Consumers 4.1.6.3. Bargaining Power of Suppliers 4.1.6.4. Threat of Substitute Products 4.1.6.5. Intensity of Competitive Rivalry 4.1.7. Value Chain Analysis 4.1.8. Technological Roadmap 4.1.9. Regulatory landscape 4.1.10. Impact of the Covid-19 Pandemic on the Global Retrofitting Services Market 5. Supply Side and Demand Side Indicators 6. Global Retrofitting Services Market Analysis and Forecast, 2019-2026 6.1. Global Retrofitting Services Market Size & Y-o-Y Growth Analysis. 7. Global Retrofitting Services Market Analysis and Forecasts, 2019-2026 7.1. Market Size (Value) Estimates & Forecast By Service, 2019-2026 7.1.1. Outsourced 7.1.2. In-house 7.2. Market Size (Value) Estimates & Forecast By Organization Size, 2019-2026 7.2.1. SMEs 7.2.2. Large enterprises 7.3. Market Size (Value) Estimates & Forecast By End-user, 2019-2026 7.3.1. Industrial 7.3.2. Commercial 7.3.3. Residential 8. Global Retrofitting Services Market Analysis and Forecasts, By Region 8.1. Market Size (Value) Estimates & Forecast By Region, 2019-2026 8.1.1. North America 8.1.2. Europe 8.1.3. Asia-Pacific 8.1.4. Middle East & Africa 8.1.5. South America 9. North America Retrofitting Services Market Analysis and Forecasts, 2019-2026 9.1. Market Size (Value) Estimates & Forecast By Service, 2019-2026 9.1.1. Outsourced 9.1.2. In-house 9.2. Market Size (Value) Estimates & Forecast By Organization Size, 2019-2026 9.2.1. SMEs 9.2.2. Large enterprises 9.3. Market Size (Value) Estimates & Forecast By End-user, 2019-2026 9.3.1. Industrial 9.3.2. Commercial 9.3.3. Residential 10. North America Retrofitting Services Market Analysis and Forecasts, By Country 10.1. Market Size (Value) Estimates & Forecast By Country, 2019-2026 10.1.1. US 10.1.2. Canada 10.1.3. Mexico 11. U.S. Retrofitting Services Market Analysis and Forecasts, 2019-2026 11.1. Market Size (Value) Estimates & Forecast By Service, 2019-2026 11.2. Market Size (Value) Estimates & Forecast By Organization Size, 2019-2026 11.3. Market Size (Value) Estimates & Forecast By End-user, 2019-2026 12. Canada Retrofitting Services Market Analysis and Forecasts, 2019-2026 12.1. Market Size (Value) Estimates & Forecast By Service, 2019-2026 12.2. Market Size (Value) Estimates & Forecast By Organization Size, 2019-2026 12.3. Market Size (Value) Estimates & Forecast By End-user, 2019-2026 13. Mexico Retrofitting Services Market Analysis and Forecasts, 2019-2026 13.1. Market Size (Value) Estimates & Forecast By Service, 2019-2026 13.2. Market Size (Value) Estimates & Forecast By Organization Size, 2019-2026 13.3. Market Size (Value) Estimates & Forecast By End-user, 2019-2026 14. Europe Retrofitting Services Market Analysis and Forecasts, 2019-2026 14.1. Market Size (Value) Estimates & Forecast By Service, 2019-2026 14.2. Market Size (Value) Estimates & Forecast By Organization Size, 2019-2026 14.3. Market Size (Value) Estimates & Forecast By End-user, 2019-2026 15. Europe Retrofitting Services Market Analysis and Forecasts, By Country 15.1. Market Size (Value) Estimates & Forecast By Country, 2019-2026 15.1.1. U.K 15.1.2. France 15.1.3. Germany 15.1.4. Italy 15.1.5. Spain 15.1.6. Sweden 15.1.7. CIS Countries 15.1.8. Rest of Europe 16. U.K. Retrofitting Services Market Analysis and Forecasts, 2019-2026 16.1. Market Size (Value) Estimates & Forecast By Service, 2019-2026 16.2. Market Size (Value) Estimates & Forecast By Organization Size, 2019-2026 16.3. Market Size (Value) Estimates & Forecast By End-user, 2019-2026 17. France Retrofitting Services Market Analysis and Forecasts, 2019-2026 17.1. Market Size (Value) Estimates & Forecast By Service, 2019-2026 17.2. Market Size (Value) Estimates & Forecast By Organization Size, 2019-2026 17.3. Market Size (Value) Estimates & Forecast By End-user, 2019-2026 18. Germany Retrofitting Services Market Analysis and Forecasts, 2019-2026 18.1. Market Size (Value) Estimates & Forecast By Service, 2019-2026 18.2. Market Size (Value) Estimates & Forecast By Organization Size, 2019-2026 18.3. Market Size (Value) Estimates & Forecast By End-user, 2019-2026 19. Italy Retrofitting Services Market Analysis and Forecasts, 2019-2026 19.1. Market Size (Value) Estimates & Forecast By Service, 2019-2026 19.2. Market Size (Value) Estimates & Forecast By Organization Size, 2019-2026 19.3. Market Size (Value) Estimates & Forecast By End-user, 2019-2026 20. Spain Retrofitting Services Market Analysis and Forecasts, 2019-2026 20.1. Market Size (Value) Estimates & Forecast By Service, 2019-2026 20.2. Market Size (Value) Estimates & Forecast By Organization Size, 2019-2026 20.3. Market Size (Value) Estimates & Forecast By End-user, 2019-2026 21. Sweden Retrofitting Services Market Analysis and Forecasts, 2019-2026 21.1. Market Size (Value) Estimates & Forecast By Service, 2019-2026 21.2. Market Size (Value) Estimates & Forecast By Organization Size, 2019-2026 21.3. Market Size (Value) Estimates & Forecast By End-user, 2019-2026 22. CIS Countries Retrofitting Services Market Analysis and Forecasts, 2019-2026 22.1. Market Size (Value) Estimates & Forecast By Service, 2019-2026 22.2. Market Size (Value) Estimates & Forecast By Organization Size, 2019-2026 22.3. Market Size (Value) Estimates & Forecast By End-user, 2019-2026 23. Rest of Europe Retrofitting Services Market Analysis and Forecasts, 2019-2026 23.1. Market Size (Value) Estimates & Forecast By Service, 2019-2026 23.2. Market Size (Value) Estimates & Forecast By Organization Size, 2019-2026 23.3. Market Size (Value) Estimates & Forecast By End-user, 2019-2026 24. Asia Pacific Retrofitting Services Market Analysis and Forecasts, 2019-2026 24.1. Market Size (Value) Estimates & Forecast By Service, 2019-2026 24.2. Market Size (Value) Estimates & Forecast By Organization Size, 2019-2026 24.3. Market Size (Value) Estimates & Forecast By End-user, 2019-2026 25. Asia Pacific Retrofitting Services Market Analysis and Forecasts, by Country 25.1. Market Size (Value) Estimates & Forecast By Country, 2019-2026 25.1.1. China 25.1.2. India 25.1.3. Japan 25.1.4. South Korea 25.1.5. Australia 25.1.6. ASEAN 25.1.7. Rest of Asia Pacific 26. China Retrofitting Services Market Analysis and Forecasts, 2019-2026 26.1. Market Size (Value) Estimates & Forecast By Service, 2019-2026 26.2. Market Size (Value) Estimates & Forecast By Organization Size, 2019-2026 26.3. Market Size (Value) Estimates & Forecast By End-user, 2019-2026 27. India Retrofitting Services Market Analysis and Forecasts, 2019-2026 27.1. Market Size (Value) Estimates & Forecast By Service, 2019-2026 27.2. Market Size (Value) Estimates & Forecast By Organization Size, 2019-2026 27.3. Market Size (Value) Estimates & Forecast By End-user, 2019-2026 28. Japan Retrofitting Services Market Analysis and Forecasts, 2019-2026 28.1. Market Size (Value) Estimates & Forecast By Service, 2019-2026 28.2. Market Size (Value) Estimates & Forecast By Organization Size, 2019-2026 28.3. Market Size (Value) Estimates & Forecast By End-user, 2019-2026 29. South Korea Retrofitting Services Market Analysis and Forecasts, 2019-2026 29.1. Market Size (Value) Estimates & Forecast By Service, 2019-2026 29.2. Market Size (Value) Estimates & Forecast By Organization Size, 2019-2026 29.3. Market Size (Value) Estimates & Forecast By End-user, 2019-2026 30. Australia Retrofitting Services Market Analysis and Forecasts, 2019-2026 30.1. Market Size (Value) Estimates & Forecast By Service, 2019-2026 30.2. Market Size (Value) Estimates & Forecast By Organization Size, 2019-2026 30.3. Market Size (Value) Estimates & Forecast By End-user, 2019-2026 31. ASEAN Retrofitting Services Market Analysis and Forecasts, 2019-2026 31.1. Market Size (Value) Estimates & Forecast By Service, 2019-2026 31.2. Market Size (Value) Estimates & Forecast By Organization Size, 2019-2026 31.3. Market Size (Value) Estimates & Forecast By End-user, 2019-2026 32. Rest of Asia Pacific Retrofitting Services Market Analysis and Forecasts, 2019-2026 32.1. Market Size (Value) Estimates & Forecast By Service, 2019-2026 32.2. Market Size (Value) Estimates & Forecast By Organization Size, 2019-2026 32.3. Market Size (Value) Estimates & Forecast By End-user, 2019-2026 33. Middle East Africa Retrofitting Services Market Analysis and Forecasts, 2019-2026 33.1. Market Size (Value) Estimates & Forecast By Service, 2019-2026 33.2. Market Size (Value) Estimates & Forecast By Service Model, 2019-2026 33.3. Market Size (Value) Estimates & Forecast By End-user, 2019-2026 34. Middle East Africa Retrofitting Services Market Analysis and Forecasts, by Country 34.1. Market Size (Value) Estimates & Forecast by Country, 2019-2026 34.1.1. South Africa 34.1.2. GCC Countries 34.1.3. Egypt 34.1.4. Nigeria 34.1.5. Rest of ME&A 35. South Africa Retrofitting Services Market Analysis and Forecasts, 2019-2026 35.1. Market Size (Value) Estimates & Forecast By Service, 2019-2026 35.2. Market Size (Value) Estimates & Forecast By Organization Size, 2019-2026 35.3. Market Size (Value) Estimates & Forecast By End-user, 2019-2026 36. GCC Countries Retrofitting Services Market Analysis and Forecasts, 2019-2026 36.1. Market Size (Value) Estimates & Forecast By Service, 2019-2026 36.2. Market Size (Value) Estimates & Forecast By Organization Size, 2019-2026 36.3. Market Size (Value) Estimates & Forecast By End-user, 2019-2026 37. Egypt Retrofitting Services Market Analysis and Forecasts, 2019-2026 37.1. Market Size (Value) Estimates & Forecast By Service, 2019-2026 37.2. Market Size (Value) Estimates & Forecast By Organization Size, 2019-2026 37.3. Market Size (Value) Estimates & Forecast By End-user, 2019-2026 38. Nigeria Retrofitting Services Market Analysis and Forecasts, 2019-2026 38.1. Market Size (Value) Estimates & Forecast By Service, 2019-2026 38.2. Market Size (Value) Estimates & Forecast By Organization Size, 2019-2026 38.3. Market Size (Value) Estimates & Forecast By End-user, 2019-2026 39. Rest of ME&A Retrofitting Services Market Analysis and Forecasts, 2019-2026 39.1. Market Size (Value) Estimates & Forecast By Service, 2019-2026 39.2. Market Size (Value) Estimates & Forecast By Organization Size, 2019-2026 39.3. Market Size (Value) Estimates & Forecast By End-user, 2019-2026 40. South America Retrofitting Services Market Analysis and Forecasts, 2019-2026 40.1. Market Size (Value) Estimates & Forecast By Service, 2019-2026 40.2. Market Size (Value) Estimates & Forecast By Organization Size, 2019-2026 40.3. Market Size (Value) Estimates & Forecast By End-user, 2019-2026 41. South America Retrofitting Services Market Analysis and Forecasts, by Country 41.1. Market Size (Value) Estimates & Forecast by Country, 2019-2026 41.1.1. Brazil 41.1.2. Argentina 41.1.3. Rest of South America 42. Brazil Retrofitting Services Market Analysis and Forecasts, 2019-2026 42.1. Market Size (Value) Estimates & Forecast By Service, 2019-2026 42.2. Market Size (Value) Estimates & Forecast By Organization Size, 2019-2026 42.3. Market Size (Value) Estimates & Forecast By End-user, 2019-2026 43. Argentina Retrofitting Services Market Analysis and Forecasts, 2019-2026 43.1. Market Size (Value) Estimates & Forecast By Service, 2019-2026 43.2. Market Size (Value) Estimates & Forecast By Organization Size, 2019-2026 43.3. Market Size (Value) Estimates & Forecast By End-user, 2019-2026 44. Rest of South America Retrofitting Services Market Analysis and Forecasts, 2019-2026 44.1. Market Size (Value) Estimates & Forecast By Service, 2019-2026 44.2. Market Size (Value) Estimates & Forecast By Organization Size, 2019-2026 44.3. Market Size (Value) Estimates & Forecast By End-user, 2019-2026 45. Competitive Landscape 45.1. Geographic Footprint of Major Players in the Global Retrofitting Services Market 45.2. Competition Matrix 45.2.1. Competitive Benchmarking of Key Players By Price, Presence, Market Share, Applications and R&D Investment 45.2.2. New Product Launches and Product Enhancements 45.2.3. Market Consolidation 45.2.3.1. M&A by Regions, Investment and Verticals 45.2.3.2. M&A, Forward Integration and Backward Integration 45.2.3.3. Partnership, Joint Ventures and Strategic Alliances/ Sales Agreements 45.3. Company Profile: Key Players 45.3.1. Siemens AG 45.3.1.1. Company Overview 45.3.1.2. Financial Overview 45.3.1.3. Geographic Footprint 45.3.1.4. Product Portfolio 45.3.1.5. Business Strategy 45.3.1.6. Recent Developments 45.3.2. L&T Technology Services Limited 45.3.3. Ammann Group 45.3.4. Freudenberg Performance Materials 45.3.5. Nishat Mills 45.3.6. Banswara Syntex 45.3.7. Daikin Industries 45.3.8. Eaton Corp. 45.3.9. Ameresco, Inc. 45.3.10. Heller 45.3.11. Radiator Labs 45.3.12. NW Seismic Retrofitting 45.3.13. ABB Ltd. 45.3.14. Schneider Electric 45.3.15. 3M 45.3.16. Hurco Companies 45.3.17. Stuga Machinery 45.3.18. Hacohen Machinery 45.3.19. Hubbell 45.3.20. Alstom 45.3.21. GE 45.3.22. Festo 46. Primary Key Insights
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