Industrial machinery repair/aftermarket services market reached $246.2bn, growing at 8.5% annually due to higher maintenance standards and digitalization trends.

Industrial machinery repair/aftermarket services market reached $246.2bn, growing at 8.5% annually as a result of higher machinery maintenance standards in developing countries. Digitalization is emerging as a key trend, offering customer acquisition & communication opportunities. Profit margins in aftermarket services are 4x higher than equipment sales, offering a lucrative focus for companies.