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Europe Maintenance, Repair, and Operations (MRO) Market to Grow at a CAGR of 1.7% in the Forecast Period, Aided by the Growing Demand in Manufacturing and Industrial Activities

According to a new report by EMR titled, ‘Europe Maintenance, Repair, and Operations (MRO) Market Report and Forecast 2022-2027’, the industry attained a value of about USD 122 billion in 2021. The industry is further expected to grow at a CAGR of 1.7% in the forecast period of 2022-2027.

The MRO industry is expected to witness significant growth in the coming years as the demand for repair, maintenance, and service operations in manufacturing and industrial activities grow, particularly in Germany and Finland. The commercial availability of MRO items and a competent workforce for services have given Europe's industrial and manufacturing industries a lot of room to grow. As a result, the sales of the major players in the European economy have improved. Rising industrial output in Germany, Italy, and France is expected to bolster the MRO operations. Several European companies have utilised integrated service concepts to improve the quality of service and equipment in critical operations. This approach also aids the industry in lowering repair and maintenance costs. Over the next few years, this trend is expected to propel the MRO distribution industry in Europe. The emergence of e-commerce platforms has considerably impacted the MRO distribution industry in Europe. Increasing demand for long-lasting and sophisticated bearings is expected to propel the market forward throughout the forecast period. Increased food item and packaged food production are likely to boost the MRO industry. In line with this, the increase in product demand for the maintenance of aircraft components and identification of structural damages, defects, and dents is positively impacting the market growth.

In the facility MRO market, technology enabler firms in the region are embracing novel solutions to utilise the seamless integration of multiple systems with inventory management. French company Monstock, a mobile solution for flow and inventory management, announced in May 2020 that it would raise EUR 1.6 million to accelerate its business activities. This was the company's initial round of funding led by Side Capital and backed by BPI France and other private investors. These incidents will also help to reinforce the country's facilities MRO landscape.

Market Analysis by Providers, End-Uses, and Countries:

  • By provider, the market is divided into OEM and aftermarket.
  • The major end-uses of the industry are manufacturing, construction, electrical, facility, mining, aerospace and defence, automotive, food and beverages, pharmaceuticals, chemicals, oil and gas, among others.
  • The major countries in the industry are Germany, United Kingdom, France, and Italy, among others.

Key Findings of the Report:

  • Growing international demand for speciality foods, including pasta and bread items, is expected to boost the market growth.
  • The MRO market has benefitted from the introduction of cutting-edge technologies across the country's prospective sectors.
  • Players in the country are concentrating on producing energy-efficient building envelopes, which opens more chances for market expansion.
  • A significant growth in the e-commerce industry, along with the implementation of various government initiatives to reduce overall energy consumption, is anticipated to drive the market toward growth.

Key Offerings of the Report:

  • The EMR report gives an overview of the Europe maintenance, repair, and operations (MRO) market for the periods (2017-2021) and (2022-2027).    
  • The report also offers the historical (2017-2021) and forecasted (2022-2027) markets for providers, end-uses, and major countries of maintenance, repair, and operations (MRO).
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

The major players in the Europe maintenance, repair, and operations (MRO) industry are Wurth Group GmbH, Airgas Inc., WESCO International Inc., Sonepar SA, and W.W. Grainger Inc., among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

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Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

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*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

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