Answer: Sugar maples are usually long-lived trees, so it sounds like something has caused its decline. The woodpeckers are searching for insects under the bark -- the insects may be culprits in the tree's decline. In other words, the tree was in decline before the woodpeckers got to it, although they do make wounds where pest organisms can enter.
Maples are very sensitive to soil compaction. Those growing near roads and those exposed to heavy construction equipment can suffer long term ill effects. Also, damage to the bark from lawnmowers, etc. can weaken the tree. There's not much you can do now but wait and see. You could hire an arborist to come out and evaluate the tree, and possibly removed damaged parts -- dead branches and weak, decaying wood can pose a hazard. But it's possible the tree may hang on for several more years.
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