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Global Maintenance Repair Operations (MRO) Market Expected to Reach USD 156 billion by 2025, Driven by Rising Adoption of Professional Services

According to a new report by EMR titled, 'Global Maintenance Repair Operations (MRO) Market Report and Forecast 2020-2025', the global market for maintenance repair operations (MRO) reached a value of USD 143 billion in 2019. The market is further expected to grow at a CAGR of 1.5% in the forecast period of 2020-2025 to reach a value of USD 156 billion by 2025.

The maintenance repair operations (MRO) industry is being driven by the rising demand from the manufacturing sector to reduce cost and product quality. Several manufacturers are adopting MRO to smartly gain large profit margins through the help of MRO. Further, the manufacturers are rapidly adopting MROs in order to achieve consistency in production and minimise the length of downtime in the production process. For instance, Volkswagen has subscribed to MRO services for its manufacturing units in China.

Moreover, due to government regulations across the globe, the manufacturers are optimising on their facilities and production processes to lessen their energy consumption by deploying MRO services to practice lean manufacturing. Further, the thriving manufacturing activities across the world, especially in the Asia Pacific region is due to the introduction of several programmes and policies that promote manufacturing activities.

WESCO International Inc. (NYSE: WCC), a major key player and a provider of industrial, electrical, and communications MRO and OEM products, in January 2020, acquired Anixter International in order to develop an electrical and data communications distribution and supply chain services company. These developments are expected to further the market growth of maintenance repair operations (MRO) in the forecast period.

Market Analysis by Provider, End Use, and Region:

  • The maintenance repair operations (MRO) industry, on the basis of provider, is bifurcated into OEM and aftermarket.
  • Based on end use, the industry is segmented into manufacturing, construction, electrical, facility, mining, aerospace and defence, automotive, food and beverages, pharmaceuticals, chemicals, and oil and gas, among others.
  • Regionally, the market is divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • The global maintenance repair operations (MRO) industry is driven by the rapid rise of digitalisation, along with growing demand for increased efficiency in businesses.
  • The development of smart factories has provided an impetus to the market growth of MRO.
  • Further, the rise in the demand for predictive maintenance, such as sensors and IoT, which is used for the prompt replacement of defective manufacturing components, is propelling the market forward.

Key Offerings of the Report:

  • The EMR report gives an overview of the global market for maintenance repair operations (MRO) for the periods (2015-2019) and (2020-2025).
  • The report also offers the historical (2015-2019) and forecast (2020-2025) markets for the providers, end-uses, and regional markets of maintenance repair 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.

Electrocomponents plc, WESCO International, Inc., W.W. Grainger, Inc., Lawson Products, Inc, Wolseley Limited, and ERIKS N.V, among others, are the key players in the global maintenance repair operations (MRO) market. The EMR report looks into the capacity, market share, and latest developments of these major players like plant turnarounds, mergers and acquisitions, and capacity expansions.

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