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2024 U.S. Industry Statistics & Market Forecast - Repair and Maintenance
Market Size & Industry Statistics
The total U.S. industry market size for Repair and Maintenance:
Industry statistics cover all companies in the United States, both public and private, ranging in size from small businesses to market leaders.
In addition to revenue, the industry market analysis shows information on employees, companies, and average firm size.
Investors, banks, and business executives use growth rates and industry trends to understand the market outlook and opportunity.
| Statistics | 2019 2020 2021 2022 2023 | |
|---|---|---|
| Market Size (Total Sales/Revenue) |
Order at top of page | |
| Total Firms | ||
| Total Employees | ||
| Average Revenue Per Firm | ||
| Average Employees Per Firm | ||
| Average Revenue Per Employee | ||
Market Forecast
Market forecasts show the long term industry outlook and future growth trends. The following extended five-year forecast projects both short-term and long-term trends.
| Forecast / Industry Outlook | 2024 | 2025 | 2026 | 2027 | 2028 |
|---|---|---|---|---|---|
| Market Forecast ($ millions) | |||||
| Projected Industry Growth Rate (%) | |||||
Industry Insights
Major trends affect the Repair and Maintenance industry include:- Increased adoption of technology and automation
- Growing significance of sustainable practices
- Rising demand for predictive and preventive maintenance
- Integration of IoT for equipment monitoring
- Shortage of skilled labor
- Shift towards more complex, multifunctional machinery
- Expansion of mobile and remote services
- Rising costs of labor and parts
- Stringent environmental regulations
- Enhanced focus on customer experience and service quality
- Impact of economic fluctuations on service demand
- Increasing use of data analytics for operational improvement
Product & Services Breakdown
Research products and services in the Repair and Maintenance industry generating sales. Note that products are broken into categories with different levels of classification.| Product Description | Number of Companies | Sales ($ millions) | Percent of Total Sales |
|---|---|---|---|
Industry Total |
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Washing And Cleaning Services For Cars And Light Trucks |
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Body Repair Services For Cars And Light Trucks |
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Wheel And Alignment Services For Cars And Light Trucks |
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Scheduled, Factory-Recommended, And Preventative Maintenance Services For Cars And Light Trucks |
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Powertrain, Engine, And Transmission Repair Services For Cars And Light Trucks |
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Brake Repair Services For Cars And Light Trucks |
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Electrical/Electronic System Repair Services For Cars And Light Trucks |
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Other Repair Services For Cars And Light Trucks |
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Maintenance And Repair Services For Motor Homes, Travel Trailers, And Campers |
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Washing And Cleaning Services For Heavy Trucks And Buses |
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Body Repair Services For Heavy Trucks And Buses |
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Wheel And Alignment Services For Heavy Trucks And Buses |
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Scheduled, Factory-Recommended, And Preventative Maintenance Services For Heavy Trucks And Buses |
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Powertrain, Engine, And Transmission Repair Services For Heavy Trucks And Buses |
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Brake Repair Services For Heavy Trucks And Buses |
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Electrical/Electronic System Repair Services For Heavy Trucks And Buses |
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Other Repair Services For Heavy Trucks And Buses |
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Maintenance And Repair - Computer Hardware And Peripheral Equipment |
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Maintenance And Repair - Consumer Electronics |
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Maintenance And Repair - Office Equipment, Excluding Computer Hardware And Peripheral Equipment |
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Maintenance And Repair - Precision Electronic Medical Equipment |
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Maintenance And Repair - Other Electronic And Precision Equipment |
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Maintenance And Repair - Agricultural, Construction, Mining, And Forestry Machinery And Equipment |
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Maintenance And Repair - Commercial And Service Industry Machinery And Equipment |
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Maintenance And Repair - Industrial Machinery And Equipment |
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Maintenance And Repair - General Purpose Machinery And Equipment |
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Maintenance And Repair - Other Business Machinery And Equipment |
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Maintenance And Repair - Appliances And Powered Household Equipment |
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Maintenance And Repair - Household Furniture |
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Maintenance And Repair - Footwear |
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Maintenance And Repair - Watches And Jewelry |
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Maintenance And Repair - Garments |
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Maintenance And Repair - Sports And Recreation Equipment |
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Maintenance And Repair - Recreational Transportation Equipment |
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Maintenance And Repair - Musical Instruments |
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All Other Maintenance And Repair Services |
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Maintenance And Repair - Communications And Navigation Equipment |
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Maintenance And Repair - Manufacturing And Metalworking Machinery And Equipment |
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Information Technology (It) Technical Support Services |
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Rental Or Lease Of Goods And/Or Equipment |
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Resale Of Merchandise |
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All Other Receipts |
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U.S. Geographic Distribution: Revenue Statistics by State
Market Size by State ($ millions) indicates how the industry's competition is distributed throughout the country. State-level information can identify areas with higher and lower industry market share than average.
Income Statement (Average Financial Metrics)
Financial metrics provide a snapshot view of a benchmark "average" company. Key business metrics show revenue and operating costs. The data collected covers both public and private companies.| Industry Average | Percent of Sales (Industry Benchmark) |
|
|---|---|---|
| Total Revenue | Order at top of page |
|
| Operating Revenue | ||
| Cost of Goods Sold | ||
| Gross Profit | ||
Operating Expenses | ||
| Pension, profit sharing plans, stock, annuity | ||
| Repairs | ||
| Rent paid on business property | ||
| Charitable Contributions | ||
| Depletion | ||
| Domestic production activities deduction | ||
| Advertising | ||
| Compensation of officers | ||
| Salaries and wages | ||
| Employee benefit programs | ||
| Taxes and Licenses | ||
| Bad Debts | ||
| Depreciation | ||
| Amortization | ||
| Other Operating Expenses | ||
| Total Operating Expenses | ||
| Operating Income | ||
| Non-Operating Income | ||
| EBIT (Earnings Before Interest and Taxes) | ||
| Interest Expense | ||
| Earnings Before Taxes | ||
| Income Tax | ||
| Net Profit Net Income | ||
Financial Ratio Analysis
Financial ratio information can be used to benchmark how a Repair and Maintenance company compares to its peers. Accounting statistics are calculated from the industry-average for income statements and balance sheets.| Profitability & Valuation Ratios | Industry Average |
|---|---|
| Company valuation can be measured based on the firm's own performance, as well as in comparison against its industry competitors. These metrics show how the average company in the Repair and Maintenance industry is performing. | |
| Profit Margin Gross Profit Margin, Operating Profit Margin, and Net Profit Margin. Show company earnings relative to revenues. |
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| Return on Equity (ROE) Return on Equity (ROE) is net income as a percentage of shareholders' equity. Shareholders' Equity is defined as the company's total assets minus total liabilities. ROE shows how much profits a company generates with the money shareholders invested (or with retained earnings). |
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| Return on Assets (ROA) Return on Assets (ROA) is net income relative to total assets. The market research on Repair and Maintenance measures how efficiently the company leverages its assets to generate profit. ROA is calculated as Net Income divided by Total Assets. |
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| Liquidity Ratios | Industry Average |
|---|---|
| Bankers and suppliers use liquidity to determine creditworthiness and identify potential threats to a company's financial viability. | |
| Current Ratio Measures a firm's ability to pay its debts over the next 12 months. |
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| Quick Ratio (Acid Test) Calculates liquid assets relative to liabilities, excluding inventories. |
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| Efficiency Ratios - Key Performance Indicators | Industry Average |
|---|---|
| Measure how quickly products and services sell, and effectively collections policies are implemented. | |
| Receivables Turnover Ratio If this number is low in your business when compared to the industry average in the research report, it may mean your payment terms are too lenient or that you are not doing a good enough job on collections. |
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| Average Collection Period Based on the Receivables Turnover, this estimates the collection period in days. Calculated as 365 divided by the Receivables Turnover |
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| Inventory Turnover A low turnover rate may point to overstocking, obsolescence, or deficiencies in the product line or marketing effort. |
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| Fixed-Asset Turnover Generally, higher is better, since it indicates the business has less money tied up in fixed assets for each dollar of sales revenue. |
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Compensation & Salary Surveys for Employees
Compensation statistics provides an accurate assessment of industry-specific jobs and national salary averages. This information can be used to identify which positions are most common, and high, low, and average annual wages.| Title | Percent of Workforce | Bottom Quartile | Average (Median) Salary | Upper Quartile |
|---|---|---|---|---|
| Management Occupations | 6% | Order at top of page |
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| Top Executives | 5% | |||
| Chief Executives | 0% | |||
| General and Operations Managers | 5% | |||
| General and Operations Managers | 5% | |||
| Business and Financial Operations Occupations | 7% | |||
| Business Operations Specialists | 6% | |||
| Cost Estimators | 5% | |||
| Cost Estimators | 5% | |||
| Computer and Mathematical Occupations | 9% | |||
| Computer Occupations | 9% | |||
| Computer Support Specialists | 5% | |||
| Architecture and Engineering Occupations | 6% | |||
| Sales and Related Occupations | 5% | |||
| Retail Sales Workers | 5% | |||
| Office and Administrative Support Occupations | 11% | |||
| Other Office and Administrative Support Workers | 6% | |||
| Office Clerks, General | 6% | |||
| Office Clerks, General | 6% | |||
| Installation, Maintenance, and Repair Occupations | 46% | |||
| Supervisors of Installation, Maintenance, and Repair Workers | 7% | |||
| First-Line Supervisors of Mechanics, Installers, and Repairers | 7% | |||
| First-Line Supervisors of Mechanics, Installers, and Repairers | 7% | |||
| Electrical and Electronic Equipment Mechanics, Installers, and Repairers | 25% | |||
| Computer, Automated Teller, and Office Machine Repairers | 13% | |||
| Computer, Automated Teller, and Office Machine Repairers | 13% | |||
| Radio and Telecommunications Equipment Installers and Repairers | 6% | |||
| Miscellaneous Electrical and Electronic Equipment Mechanics, Installers, and Repairers | 6% | |||
| Vehicle and Mobile Equipment Mechanics, Installers, and Repairers | 30% | |||
| Automotive Technicians and Repairers | 26% | |||
| Automotive Body and Related Repairers | 7% | |||
| Automotive Glass Installers and Repairers | 5% | |||
| Automotive Service Technicians and Mechanics | 17% | |||
| Bus and Truck Mechanics and Diesel Engine Specialists | 6% | |||
| Bus and Truck Mechanics and Diesel Engine Specialists | 6% | |||
| Heavy Vehicle and Mobile Equipment Service Technicians and Mechanics | 5% | |||
| Small Engine Mechanics | 11% | |||
| Motorboat Mechanics and Service Technicians | 7% | |||
| Other Installation, Maintenance, and Repair Occupations | 9% | |||
| Home Appliance Repairers | 14% | |||
| Home Appliance Repairers | 14% | |||
| Industrial Machinery Installation, Repair, and Maintenance Workers | 21% | |||
| Industrial Machinery Mechanics | 20% | |||
| Precision Instrument and Equipment Repairers | 13% | |||
| Medical Equipment Repairers | 10% | |||
| Production Occupations | 7% | |||
| Metal Workers and Plastic Workers | 11% | |||
| Welding, Soldering, and Brazing Workers | 7% | |||
| Welders, Cutters, Solderers, and Brazers | 7% | |||
| Textile, Apparel, and Furnishings Workers | 12% | |||
| Miscellaneous Textile, Apparel, and Furnishings Workers | 6% | |||
| Upholsterers | 6% | |||
| Other Production Occupations | 10% | |||
| Painting Workers | 8% | |||
| Coating, Painting, and Spraying Machine Setters, Operators, and Tenders | 8% | |||
| Transportation and Material Moving Occupations | 18% | |||
| Supervisors of Transportation and Material Moving Workers | 7% | |||
| First-Line Supervisors of Transportation and Material Moving Workers | 7% | |||
| First-Line Supervisors of Transportation and Material Moving Workers, Except Aircraft Cargo Handling Supervisors | 7% | |||
| Other Transportation Workers | 11% | |||
| Transportation Service Attendants | 11% | |||
| Automotive and Watercraft Service Attendants | 11% | |||
| Material Moving Workers | 12% | |||
| Laborers and Material Movers | 12% | |||
| Cleaners of Vehicles and Equipment | 11% | |||
Repair and Maintenance Competitor Landscape & Key Companies [PREMIUM]
The most influential companies in the Repair and Maintenance industry and adjacent industries either have large market share or are developing new business models and methods that could disrupt the status quo. We look at leading and emerging companies in the Repair and Maintenance industry and adjacent sectors:| Market Leaders: Direct Competitors Companies with the largest market share, focused in this industry |
Market leaders: Diversified Competitors Largest companies that have diversified operations in this and other industries |
| Innovators: Direct Competitors Innovative, Emerging, and Disruptive Companies that may influence the future direction of the industry. |
Innovators: Diversified Competitors Innovators and Disruptors in adjacent industries that may also affect the Repair and Maintenance industry. |
Innovation News
- Jun 06, 2024: Atlas Machine & Supply patents System For Securing Objects Having Different Coefficients Of Thermal Expansion
- Jun 06, 2024: Moser Engine Service patents Controller For A Portable Microgrid System And Methods Of Use
- May 23, 2024: Beet patents Process Digitization System And Method
- Jan 26, 2024: Same Day Service trademarks "SAME DAY APPLIANCE REPAIR" - Installation, maintenance and repair of kitchen equipment; Installation, maintenance and repair of appliances; Repair of household and kitchen appliances
- Jan 19, 2024: Grease Monkey International trademarks "KWIK KAR OIL CHANGE & AUTO CARE" - Vehicle repair and maintenance
- Jan 19, 2024: Grease Monkey International trademarks "KWIK CAR OIL CHANGE & AUTO CARE" - Vehicle repair and maintenance
- Oct 19, 2023: Don't Quit raises $6 million in funding.
- Aug 07, 2023: Prefix Maintenance raises $4 million in funding.
- Jun 22, 2023: Tommy's Express Holdings raises $38 million in funding.
Recent Federal Contracts for Repair and Maintenance
- Apr 02, 2024: FLIR SYSTEMS, INC. (North Billerica, MA) awarded $299,167
- Apr 02, 2024: RICHARD-ALLAN SCIENTIFIC LLC (Kalamazoo, MI) awarded $31,762
- Apr 02, 2024: FRANKLIN YOUNG INTERNATIONAL, INCORPORATED (Upland, CA) awarded $49,722
- Apr 02, 2024: FUJIFILM HEALTHCARE AMERICAS CORP (Lexington, MA) awarded $51,255
- Apr 02, 2024: DESIGN BUILD CONSORTIUM, LLC (San Antonio, TX) awarded $26,275
- Apr 02, 2024: DIESEL TECHNOLOGY, INC. (Cortez, CO) awarded $14,959
