DUBLIN, Feb. 17, 2023 /PRNewswire/ — The “Maintenance Repair and Operations Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028” report has been added to ResearchAndMarkets.com’s offering.
The global maintenance repair and operations (MRO) market size reached US$ 648.4 Billion in 2022. Looking forward, the publisher expects the market to reach US$ 769.8 Billion by 2028, exhibiting a CAGR of 2.9% during 2022-2028.
Companies Mentioned
- Adolf Wurth GmbH & Co. KG
- Airgas Inc. (Air Liquide S.A)
- Applied Industrial Technologies Inc.
- Cromwell Group Holdings Ltd. (W. W. Grainger Inc.)
- Electrocomponents PLC
- Eriks NV (SHV Holdings)
- Genuine Parts Company
- Graybar Electric Company Inc.
- Hayley Group Limited (Descours et Cabaud SA)
- Lawson Products Inc.
- Rexel
- Wesco International Inc.
Maintenance, repair and operations (MRO) refer to the processes undertaken by organizations to ensure smooth functioning of the tools and equipment. It involves conducting periodic functional checks, servicing and replacing of necessary machinery and building infrastructure for optimal operational efficiency. MRO processes ensure that the facilities, equipment, systems and tools are stocked, maintained and safe to use.
They aid in improving workflow management, employee safety and minimizing downtime and repair frequencies. MRO also provides prompt alerts for the replacement of organizational components before defects arise. As a result, MRO finds extensive application across various industries, such as construction, chemical, pharmaceutical, manufacturing, mining, automotive, aerospace, defense and food and beverage.
The increasing demand for enhanced organizational efficiency across industries is one of the key factors driving the growth of the market. This can also be attributed to the rising adoption of professional services as MRO aids in significantly optimizing supply chain management and process efficiencies.
Additionally, the widespread product utilization in the manufacturing industry is favoring the market growth. MRO is utilized to prevent cyclical fluctuations in equipment and monitor the upkeep of industrial equipment, consumables, furniture and plant supplies.
Moreover, various technological advancements, such as the integration of connected devices with the Internet of Things (IoT) and predictive maintenance solutions, are providing a thrust to the market growth. In line with this, the increasing product demand for the maintenance of aircraft components and identification of structural damages, defects and dents is positively impacting the market growth.
Other factors, including significant growth in the e-commerce industry, along with the implementation of various government initiatives to reduce overall energy consumption and practice lean manufacturing, are anticipated to drive the market toward growth.
Key Questions Answered in This Report
1. What was the size of the global maintenance repair and operations (MRO) market in 2022?
2. What is the expected growth rate of the global maintenance repair and operations (MRO) market during 2023-2028?
3. What are the key factors driving the global maintenance repair and operations (MRO) market?
4. What has been the impact of COVID-19 on the global maintenance repair and operations (MRO) market?
5. What is the breakup of the global maintenance repair and operations (MRO) market based on the provider?
6. What is the breakup of the global maintenance repair and operations (MRO) market based on the MRO Type?
7. What are the key regions in the global maintenance repair and operations (MRO) market?
8. Who are the key players/companies in the global maintenance repair and operations (MRO) market?
Key Topics Covered:
1 Preface
2 Scope and Methodology
3 Executive Summary
4 Introduction
4.1 Overview
4.2 Key Industry Trends
5 Global Maintenance Repair and Operations (MRO) Market
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Forecast
6 Market Breakup by Provider
6.1 OEM
6.1.1 Market Trends
6.1.2 Market Forecast
6.2 Aftermarket
6.2.1 Market Trends
6.2.2 Market Forecast
7 Market Breakup by MRO Type
7.1 Industrial MRO
7.1.1 Market Trends
7.1.2 Market Forecast
7.2 Electrical MRO
7.2.1 Market Trends
7.2.2 Market Forecast
7.3 Facility MRO
7.3.1 Market Trends
7.3.2 Market Forecast
7.4 Others
7.4.1 Market Trends
7.4.2 Market Forecast
8 Market Breakup by Region
9 SWOT Analysis
10 Value Chain Analysis
11 Porters Five Forces Analysis
12 Price Analysis
13 Competitive Landscape
13.1 Market Structure
13.2 Key Players
13.3 Profiles of Key Players
For more information about this report visit https://www.researchandmarkets.com/r/b0tn0c
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