As per MRFR analysis, the India Industrial Services Market Size was estimated at 2.43 (USD Billion) in 2023.The India Industrial Services Market Industry is expected to grow from 2.75(USD Billion) in 2024 to 5 (USD Billion) by 2035. The India Industrial Services Market CAGR (growth rate) is expected to be around 5.585% during the forecast period (2025 - 2035).
The India Industrial Services Market is witnessing significant growth driven by several key market drivers. Rapid urbanization and industrialization in the country have led to increased demand for advanced industrial services, including maintenance, repair, and operational efficiencies.
The government’s push for Make in India and Digital India initiatives is also propelling investments in infrastructure and technology, which enhances service delivery across various sectors such as manufacturing, energy, and logistics. Additionally, the shift towards Industry 4.0, characterized by smart manufacturing and automation, is transforming how industrial services are provided, with firms adopting real-time monitoring and predictive maintenance solutions.
There are ample opportunities to be explored in the India Industrial Services Market. The focus on sustainability and green technology opens avenues for service providers to offer eco-friendly alternatives in operations, maintenance, and production processes. Moreover, the growing need for skilled personnel presents opportunities for industrial training services, thus helping to bridge the skill gap and meet the demands of a rapidly changing market environment.
Recent trends indicate a rise in the adoption of digital platforms and services, driven by the COVID-19 pandemic. Companies have learned the importance of digital transformation, leading to an increase in remote monitoring services and digital twins.Furthermore, there is a notable emphasis on supply chain resilience, where businesses are looking for effective industrial services to ensure continuity and efficiency in their operations. Collectively, these trends highlight a dynamic landscape in the India Industrial Services Market that is adapting to the challenges and opportunities brought forth by technological advancements and changing consumer expectations.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
The rise of the country's manufacturing sector has had a substantial impact on the growth of the India Industrial Services Market. The Indian government has been supporting projects like 'Make in India', which aspires to transform the country into a worldwide manufacturing hub. According to data from the Ministry of Commerce and Industry, the manufacturing sector is predicted to contribute 25% of GDP by 2025, up from its present proportion.
As more businesses build large-scale manufacturing processes, there is a greater demand for diverse industrial services such as maintenance, logistics, and technical support. Major firms, such as Tata Group and Mahindra & Mahindra, are growing their manufacturing capabilities, boosting the demand for industrial services to support this growth. Manufacturing facilities require robust support services to maintain efficiency and output capacity; hence the India Industrial Services Market Industry is expected to increase significantly.
The rise of advanced technologies and automation is reshaping the India Industrial Services Market Industry, driving demand for specialized services. The Indian government, in collaboration with various industry players, has been promoting the adoption of Industry 4.0 technologies, which include the Internet of Things (IoT) and Artificial Intelligence (AI). According to the Ministry of Electronics and Information Technology, the automation market in India is projected to grow at a CAGR of 10% from 2020 to 2025, indicating a strong uptick in technology adoption.
Companies such as Infosys and Wipro are leading in creating smart solutions that enhance operational efficiency. As businesses seek to automate processes, they increasingly rely on industrial services to implement and maintain these technologies, presenting substantial opportunities for growth in the India Industrial Services Market Industry.
Infrastructure development is a critical driver of the India Industrial Services Market Industry, with government initiatives such as the National Infrastructure Pipeline highlighting the commitment to boost investing in a variety of infrastructure projects. According to the Ministry of Finance, the government plans to invest over 111 trillion Indian Rupees in infrastructure projects over the next five years.
This surge in investment is expected to lead to significant demand for industrial services, including engineering, procurement, and construction management.Prominent players like Larsen & Toubro are already capitalizing on this trend, offering comprehensive industrial services to support infrastructure projects. As more funds are allocated to develop highways, railways, and urban infrastructure, the India Industrial Services Market Industry will expand to provide essential support services for these initiatives.
The increasing focus on sustainability and environmental regulations presents a robust growth opportunity for the India Industrial Services Market Industry. The regulatory framework in India has evolved to emphasize sustainable practices, as seen in the Green Skill Development Programme launched by the Ministry of Environment, Forest and Climate Change. This initiative aims to create a skilled workforce to promote green technologies, which is crucial as companies adapt to the new environmental norms.
Research indicates that the industrial sector in India has started to integrate energy-efficient technologies, leading to an increasing demand for services related to sustainability assessments and compliance. Corporations such as Tata Steel are already pioneering various eco-friendly initiatives, promoting their commitment to sustainable operations, thus driving the need for specialized industrial services that align with these values in the India Industrial Services Market Industry.
The India Industrial Services Market is structured into several key types, with Installation and Commissioning and Engineering and Consulting being particularly notable. The Installation and Commissioning segment plays a crucial role in ensuring that industrial equipment is operational and functioning at its best, which is vital for sectors such as manufacturing, energy, and construction. This aspect of the market addresses the comprehensive process of setting up machinery and systems, which includes tasks such as assembly, testing, and start-up services, thus minimizing downtime and enhancing productivity.
As industries in India continue to modernize and adopt new technologies, the demand for effective Installation and Commissioning services is expected to grow significantly. Similarly, the Engineering and Consulting segment provides essential support by offering tailored solutions based on industry demands. This segment plays a pivotal role in optimizing operations, increasing efficiency, and ensuring compliance with safety standards. By providing valuable expertise and consultation, firms within this segment help organizations navigate complex technical challenges related to project planning, design, and management.
Additionally, with India's focus on infrastructure development and smart manufacturing initiatives, the importance of engineering services is amplified, enabling businesses to innovate and improve performance. The continuous advancement in technology and methodologies contributes greatly to the dynamic landscape of the India Industrial Services Market, particularly within these two segments, emphasizing their vital contribution to the broader industrial ecosystem. As the nation progresses towards achieving ambitious economic goals, the Installation and Commissioning and Engineering and Consulting services stand out as fundamental pillars driving growth and transformation in the industry.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
The Application segment of the India Industrial Services Market is witnessing substantial growth, reflecting the increased demand for automation and advanced control systems across various industries. The Human Machine Interface (HMI) plays a crucial role in enhancing the interaction between operators and machinery, facilitating better operational efficiency and enhanced productivity. In parallel, Distributed Control Systems (DCS) are pivotal in ensuring centralized control over complex processes, thereby promoting safety and reliability in operations.
Valves and Actuators stand as essential components within this ecosystem, enabling precise control of fluid flow and pressure across a multitude of applications. The integration of these technological advancements is driven by the rise of smart manufacturing and Industry 4.0 initiatives in India, which are further supported by government policies aimed at strengthening the manufacturing base.
Notably, the significance of these components extends to their contribution to energy efficiency and reduced operational costs, leading to broader adoption across industries such as chemicals, oil and gas, and power generation.As these applications become increasingly central to operational strategies, the India Industrial Services Market continues to evolve, presenting numerous opportunities for innovation and investment.
The End User segment of the India Industrial Services Market plays a crucial role in shaping the overall industry dynamics, with various sectors exhibiting strong growth. The automotive sector is a significant driver, contributing to the demand for industrial services due to the rise in vehicle production and technological advancements. The metal and mining sector remains vital, driven by infrastructure development and the growing need for raw materials in various industries.
In the food and beverages sector, the increasing focus on quality and safety standards propels the demand for specialized services, ensuring compliance and efficiency.The paper industry is also strikingly relevant, emphasizing sustainable practices and innovative processing techniques to meet market demand.
Additionally, the oil and gas sector is significant, driven by the need for efficient production and regulatory compliance as India aims for energy security. Overall, trends in sustainability, technological advancements, and increasing regulatory requirements are expected to steer the India Industrial Services Market segmentation, presenting numerous opportunities for growth and development across these end-user sectors.The integration of modern technologies and services will enhance efficiency and productivity, driving industry success in India.
The India Industrial Services Market is increasingly competitive, reflecting the country’s rapid industrialization and growing emphasis on technological evolution. Companies within this market are vying for leadership positions by innovating their service offerings, enhancing operational efficiencies, and focusing on sustainability practices. The market is characterized by a diverse range of services, including automation solutions, facility management, and maintenance services that cater to the needs of various sectors such as manufacturing, energy, automotive, and infrastructure.
This growing sector is also witnessing an influx of foreign direct investments, a surge in demand for smart technologies, and a shift towards digitization, creating both challenges and opportunities for established players and new entrants alike. Competitive strategies include mergers and acquisitions, partnerships, and leveraging advanced technologies to deliver improved services while meeting evolving customer expectations.
Schneider Electric India holds a significant competitive position within the India's Industrial Services Market, owing to its strong focus on energy management, automation solutions, and delivering sustainable industrial services. The company emphasizes innovation coupled with deep industry expertise, which allows it to provide tailored solutions that enhance efficiency and productivity across various sectors. Schneider Electric India benefits from a robust local presence and an established reputation for quality, reliability, and cutting-edge technology.
Their strengths lie not just in the product offerings but in their extensive service network and commitment to customer success, which is essential in an industry where customer relationships and support play a critical role. The company’s ongoing investment in research and development within India further strengthens its competitive edge, allowing it to adapt rapidly to changing market conditions.Essar Group also plays a significant role in the India Industrial Services Market, leveraging its diverse portfolio that spans across energy, power, and infrastructure sectors.
The company is known for its contributions to industrial services, providing a range of offerings including steel manufacturing, oil and gas services, and project execution capabilities. Essar Group benefits from its extensive market presence, which allows it to secure strategic partnerships and collaborations that enhance its service delivery across various segments.
Their strengths lie in their adaptability and commitment to pursuing high-impact projects, which provides the company with a competitive advantage in an evolving market landscape. Additionally, Essar Group has engaged in several mergers and acquisitions that have enabled it to broaden its service range and fortify their position within the industrial services arena in India. The focus on innovation and operational excellence solidifies the company’s stature as a prominent player in the industrial services market.
The India Industrial Services Market is experiencing significant developments. In October 2023, Schneider Electric India announced advancements in its digital transformation solutions aimed at supporting sustainable industrial practices. Concurrently, ABB India has been collaborating with various sectors to enhance automation and energy efficiency, fostering growth in industrial applications. Meanwhile, Siemens India is focusing on smart manufacturing technologies, positioning itself as a leader in Industry 4.0 initiatives.
A notable merger occurred in September 2023 when Honeywell Automation India and TATA Group expanded their partnership to develop advanced automation and control solutions for diverse industries. Jindal Steel and Power has been investing heavily in renewable energy projects, aligning with the government’s push for green energy, while Larsen & Toubro has secured major contracts for infrastructure development, further propelling growth in the industrial services sector.
Additionally, the Indian government is promoting Make in India initiatives, providing a favorable regulatory environment for companies like Adani Group and General Electric India. These developments reflect a robust industrial landscape, with increasing market valuations indicating a healthy outlook for various industry players.
| Report Attribute/Metric Source: | Details |
| MARKET SIZE 2023 | 2.43(USD Billion) |
| MARKET SIZE 2024 | 2.75(USD Billion) |
| MARKET SIZE 2035 | 5.0(USD Billion) |
| COMPOUND ANNUAL GROWTH RATE (CAGR) | 5.585% (2025 - 2035) |
| REPORT COVERAGE | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| BASE YEAR | 2024 |
| MARKET FORECAST PERIOD | 2025 - 2035 |
| HISTORICAL DATA | 2019 - 2024 |
| MARKET FORECAST UNITS | USD Billion |
| KEY COMPANIES PROFILED | Schneider Electric India, Essar Group, ABB India, Siemens India, Honeywell Automation India, Jindal Steel and Power, Hitachi India, Rockwell Automation, Crompton Greaves Consumer Electricals, Adani Group, Bharat Heavy Electricals Limited, GE India, Larsen & Toubro, Emerson Electric, Tata Group |
| SEGMENTS COVERED | Type, Application, End User |
| KEY MARKET OPPORTUNITIES | Industry 4.0 adoption, Renewable energy services, Automation and robotics integration, Predictive maintenance solutions, Green manufacturing practices |
| KEY MARKET DYNAMICS | Digital transformation initiatives, Increasing outsourcing trends, Focus on sustainability practices, Demand for automation solutions, Workforce skill enhancement |
| COUNTRIES COVERED | India |
Frequently Asked Questions (FAQ) :
The India Industrial Services Market is expected to be valued at 2.75 USD Billion by 2024.
By 2035, the India Industrial Services Market is projected to reach a valuation of 5.0 USD Billion.
The expected Compound Annual Growth Rate for the India Industrial Services Market from 2025 to 2035 is 5.585 percent.
The India Industrial Services Market is segmented into Installation & Commissioning, and Engineering & Consulting.
The Installation & Commissioning segment is expected to be valued at 1.2 USD Billion in 2024 and 2.2 USD Billion in 2035.
The Engineering & Consulting segment is valued at 1.55 USD Billion in 2024 and is expected to reach 2.8 USD Billion in 2035.
Major players in the India Industrial Services Market include Schneider Electric India, ABB India, Siemens India, and Honeywell Automation India.
Opportunities for growth in the India Industrial Services Market arise from rising industrial activities and technological advancements.
Challenges include skilled labor shortages and increasing operational costs impacting the industry.
The global industrial landscape impacts the India Industrial Services Market by influencing supply chains and investment trends.
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Team Lead - Research she holds an experience of about 6+ years in market research and business consulting, working under the spectrum of information communication technology, telecommunications and semiconductor domains. aarti conceptualizes and implements a scalable business strategy and provides strategic leadership to the clients. her expertise lies in market estimation, competitive intelligence, pipeline analysis, customer assessment, etc.
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