NAICS 8113 - Commercial and Industrial Machinery and Equipment (except Automotive and Electronic) Repair and Maintenance
This industry comprises establishments primarily engaged in the repair and maintenance of commercial and industrial machinery and equipment. Establishments in this industry either sharpen/install commercial and industrial machinery blades and saws or provide welding (e.g., automotive, general) repair services; or repair agricultural and other heavy and industrial machinery and equipment (e.g., forklifts and other materials handling equipment, machine tools, commercial refrigeration equipment, construction equipment, and mining machinery).
Industry trends:
The Commercial and Industrial Machinery and Equipment Repair and Maintenance industry, classified under NAICS 8113, is experiencing several notable qualitative trends. A prominent trend is the increasing adoption of predictive maintenance technologies, such as IoT sensors and AI-driven analytics, which help in forecasting equipment failures before they occur. This shift aims to minimize downtime and enhance operational efficiency. Additionally, there is a growing emphasis on sustainability, with companies seeking greener repair processes and materials to align with global environmental standards.
Another trend is the rising demand for skilled technicians capable of handling complex machinery and advanced diagnostic tools. This is leading to greater investment in workforce training and development programs. Remote maintenance and repair services are also gaining traction, leveraging digital tools and augmented reality to provide support without the need for on-site visits.
Looking ahead, the industry is expected to see continuous growth driven by the ongoing need for maintenance of an aging equipment base, increased automation, and the expansion of industrial activities. Companies that innovate and integrate digital technologies into their service offerings are likely to gain a competitive edge. Forecasts suggest an uptick in service contracts and partnerships as businesses aim to ensure uninterrupted operations through proactive maintenance strategies.
This industry is comprised of:
This report includes the ability to segment your Industry by:
- Region
- Employees
- Net Sales
- Company Age
- Total Assets
- Ownership Type
With iCFO You Get
What Is iCFO?
A review and comparison of financial performance of privately-help companies in specified SIC/NAICS industry segment, using industry standard benchmarks.
Sound Business Analysis
Answers come easily with iCFO. Review ROI, sales per employee, profit margins of the top 10%, top 25% and more, to identify areas of concern and opportunity. Examine what if scenarios and P&L impact of reducing costs or adding revenue.
Your Business’ Health In Minutes
It takes only five minutes to enter your data and produce a concise profile of your company’s fiscal state, including critical business ratios focusing on liquidity, profitability, asset efficiency, and growth.