Report Overview

The global MRO market was valued at USD 747.61 Billion in 2024. It is expected to grow at a CAGR of 2.40% from 2025 to 2034, reaching approximately USD 947.71 Billion by 2034.

2023

Base Year

2018-2023

Historical Year

2024-2032

Forecast Year

  • There’s a shift towards repairing parts rather than replacing them, driven by sustainability concerns. This generates demand for MRO products.
  • The growth of predictive maintenance, including the use of sensors and IoT, is expected to advance the MRO sector. Predictive maintenance reduces downtime and saves costs by replacing components before visible defects appear.
  • Industries with diverse and complex equipment like aviation, manufacturing, and energy require MRO products and services.

Maintenance, Repair, and Operations (MRO) Market Analysis by Region

The Asia Pacific to witness a significant growth owing to the rising adoption of professional services

Asia Pacific dominates the market as the region is a manufacturing hub for spare parts, which are often supplied to other countries, owing to their cost-effectiveness. The introduction of advanced manufacturing techniques in the Asia Pacific, because of rising investments in R&D activities, is predicted to enhance the maintenance, repair, and operations (MRO) market growth further. Moreover, due to the COVID-19 pandemic, many companies that had investments in China are now shifting to other Asian countries, such as India and Taiwan, for their operations. This is expected to influence the market growth positively in the coming years.

 

Meanwhile, North American region with its presence of many manufacturing facilities and the increasing focus on industry development is expected to capture a growing maintenance, repair, and operations (MRO) market share. The region is also home to many major players in the market, including companies like W.W. Grainger, GE, and Rolls-Royce. The regions’ growth is further driven by the need for efficient maintenance practices and the adoption of advanced technologies like predictive maintenance and IoT.

 

Maintenance, Repair, and Operations (MRO) Market Report Snapshots

Maintenance, Repair, and Operations (MRO) Market Size

Maintenance, Repair, and Operations (MRO) Market Share

Maintenance, Repair, and Operations (MRO) Market Growth

Maintenance, Repair, and Operations (MRO) Market Trends

Maintenance, Repair, and Operations (MRO) Market Regional Analysis

Maintenance, Repair, and Operations (MRO) Companies

 

*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*

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Key Questions Answered in the Report

In 2024, the market attained a value of nearly USD 747.61 Billion.

The market is assessed to grow at a CAGR of 2.40% between 2025 and 2034.

The market is estimated to witness a healthy growth in the forecast period of 2025-2034 to reach about USD 947.71 Billion by 2034.

Key drivers of the MRO market include the need to reduce disruptions, anticipate and rectify issues, improve inventory management, enhance safety, and increase productivity. MRO is crucial for cost management, productivity, safety, and overall business.

Key trends aiding market expansion include the adoption of professional services, rising standardisation of equipment and services within critical manufacturing operations and launch of smart industries, which use predictive maintenance, like sensors and IoT.

Regions considered in the market are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

The leading providers in the market are OEM and aftermarket.

The major end-use segments in the market are manufacturing, construction, electrical, facility, mining, aerospace and defence, automotive, food and beverages, pharmaceuticals, chemicals, and oil and gas, among others.

Key players in the market are Air Liquide S.A. (Airgas, Inc.), Ferguson Enterprises, LLC., Rubix Group International Limited, Hayley Group Limited, Genuine Parts Company, Applied Industrial Technologies Inc., W.W. Grainger, Inc., ERIKS N.V, RS Group plc, and Adolf Würth GmbH & Co. KG, among others.

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