Industrial Services Market Share

Regionally, the global industrial services market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. North America industry is poised to dominate majority revenue share of 33% by 2036. The growth of the market can be attributed to the increasing evolution of different types of service models, along with the digital transformation witnessed across the region. Moreover, presence of several flourished industries such as the food and beverage industry, in countries such as the United States and Canada, along with the growing focus towards functional safety in industries such as mining, chemicals, pharmaceutical, and others, are some of the additional factors anticipated to drive the market growth. According to the statistics by the United States Census Bureau, the sales of retail trade and food services in the nation grew from USD 3282961 Million in 2000 to USD 6205714 Million in 2020. The market in the region is further segmented by country into the United States and Canada, out of which, the market in the U.S. is projected to grow with the highest CAGR of 4.30% during the forecast period. On the other hand, the market in the Asia Pacific is expected to hold the largest revenue share of 11.99% by the end of 2036.