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Global Maintenance, Repair, and Operations (MRO) Market Share, Size, Growth, Analysis, Forecast: By Provider: OEM, Aftermarket; By End Use: Manufacturing, Construction, Electrical, Facility, Mining, Aerospace and Defence, Automotive, Others; Regional Analysis; Competitive Landscape; Key Trends and Developments in the Market; 2023-2028
Global Maintenance, Repair, and Operations (MRO) Market Outlook
The global maintenance, repair, and operations (MRO) market attained a value of USD 549.8 billion in 2022. The market is expected to further grow at a CAGR of 3% in the forecast period of 2023-2028 to reach USD 656.49 billion by 2028.
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The Asia Pacific to Witness a Significant Growth Owing to the Rising Adoption of Professional Services
The Asia Pacific maintenance, repair, and operations (MRO) market is expected to witness a robust growth in the forecast period due to the growing adoption of professional services. The region is considered a manufacturing hub for spare parts that are then supplied to other countries, owing to its cost-effectiveness, thus, providing a great boost to the growth of the maintenance, repair, and operations (MRO) industry. In addition, the market is expected to witness a significant demand due to standardisation of equipment and services within critical manufacturing operations. The introduction of advanced manufacturing techniques in the Asia Pacific, as a result of rising investments in R&D activities, is predicted to enhance the 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.
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Maintenance, Repair, and Operations (MRO): Market Segmentation
Maintenance, repair, and operations (MRO) refer to the miscellaneous expenditure by firms to ensure the smooth functioning of its operations and production process. While the products of MRO are not a part of the end product, they include products that are likely to be utilised during the production process, such as consumables (such as laboratory equipment, cleaning, or office supplies), machinery (like pumps, compressors, or valves), repair and maintenance tools (such as lubricants, repair tools, gaskets), and other miscellaneous products like fixtures, furniture, and computers. MRO may include anything used in the manufacturing of, but not used in a final product.
On the basis of provider, the market is divided into:
- OEM
- Aftermarket
Based on end use, the industry can be segmented into:
- Manufacturing
- Construction
- Electrical
- Facility
- Mining
- Aerospace and Defence
- Automotive
- Food and Beverages
- Pharmaceuticals
- Chemicals
- Oil and Gas
- Others
The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
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Rising Demand for Increased Efficiency to Aid the Global Maintenance, Repair, and Operations (MRO) Market Growth
The maintenance, repair, and operations (MRO) industry is being driven by the thriving digitalisation and the rising demand for increased efficiency in businesses. In addition, the market is expected to be led by the development of smart factories. Due to the growth of predictive maintenance, like sensors and IoT, which allows prompt replacement of manufacturing components before any defects arise, the market is expected to grow rapidly in the forecast period.
However, the market may slow down due to the spread of COVID- 19, which has severely impacted the market growth. The global supply chain has been adversely impacted due to the temporary closures of factory units due to the pandemic, resulting in difficulty by vendors in procuring parts, thus, constraining the growth of the MRO industry.
Key Industry Players in the Global Maintenance, Repair, and Operations (MRO) Market
The report gives a detailed analysis of the following key players in the global maintenance, repair, and operations (MRO) market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
- Airgas, Inc.
- Applied Industrial Technologies
- Electrocomponents plc
- W.W. Grainger, Inc.
- Lawson Products, Inc
- WESCO International, Inc.
- Wolseley Limited
- ERIKS N.V
- Johnson Controls
- Wurth Group
- Caterpillar Inc.
- Others
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
|---|---|
| Base Year | 2022 |
| Historical Period | 2018-2022 |
| Forecast Period | 2023-2028 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|
| Breakup by Provider |
|
| Breakup by End Use |
|
| Breakup by Region |
|
| Market Dynamics |
|
| Competitive Landscape |
|
| Companies Covered |
|
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Maintenance, Repair, and Operations (MRO) Market Analysis
8.1 Key Industry Highlights
8.2 Global Maintenance, Repair, and Operations (MRO) Historical Market (2018-2022)
8.3 Global Maintenance, Repair, and Operations (MRO) Market Forecast (2023-2028)
8.4 Global Maintenance, Repair, and Operations (MRO) Market by Provider
8.4.1 OEM
8.4.1.1 Market Share
8.4.1.2 Historical Trend (2018-2022)
8.4.1.3 Forecast Trend (2023-2028)
8.4.2 Aftermarket
8.4.2.1 Market Share
8.4.2.2 Historical Trend (2018-2022)
8.4.2.3 Forecast Trend (2023-2028)
8.5 Global Maintenance, Repair, and Operations (MRO) Market by End Use
8.5.1 Manufacturing
8.5.1.1 Market Share
8.5.1.2 Historical Trend (2018-2022)
8.5.1.3 Forecast Trend (2023-2028)
8.5.2 Construction
8.5.2.1 Market Share
8.5.2.2 Historical Trend (2018-2022)
8.5.2.3 Forecast Trend (2023-2028)
8.5.3 Electrical
8.5.3.1 Market Share
8.5.3.2 Historical Trend (2018-2022)
8.5.3.3 Forecast Trend (2023-2028)
8.5.4 Facility
8.5.4.1 Market Share
8.5.4.2 Historical Trend (2018-2022)
8.5.4.3 Forecast Trend (2023-2028)
8.5.5 Mining
8.5.5.1 Market Share
8.5.5.2 Historical Trend (2018-2022)
8.5.5.3 Forecast Trend (2023-2028)
8.5.6 Aerospace and Defence
8.5.6.1 Market Share
8.5.6.2 Historical Trend (2018-2022)
8.5.6.3 Forecast Trend (2023-2028)
8.5.7 Automotive
8.5.7.1 Market Share
8.5.7.2 Historical Trend (2018-2022)
8.5.7.3 Forecast Trend (2023-2028)
8.5.8 Food and Beverages
8.5.8.1 Market Share
8.5.8.2 Historical Trend (2018-2022)
8.5.8.3 Forecast Trend (2023-2028)
8.5.9 Pharmaceuticals
8.5.9.1 Market Share
8.5.9.2 Historical Trend (2018-2022)
8.5.9.3 Forecast Trend (2023-2028)
8.5.10 Chemicals
8.5.10.1 Market Share
8.5.10.2 Historical Trend (2018-2022)
8.5.10.3 Forecast Trend (2023-2028)
8.5.11 Oil and Gas
8.5.11.1 Market Share
8.5.11.2 Historical Trend (2018-2022)
8.5.11.3 Forecast Trend (2023-2028)
8.5.12 Others
8.6 Global Maintenance, Repair, and Operations (MRO) Market by Region
8.6.1 North America
8.6.1.1 Market Share
8.6.1.2 Historical Trend (2018-2022)
8.6.1.3 Forecast Trend (2023-2028)
8.6.2 Europe
8.6.2.1 Market Share
8.6.2.2 Historical Trend (2018-2022)
8.6.2.3 Forecast Trend (2023-2028)
8.6.3 Asia Pacific
8.6.3.1 Market Share
8.6.3.2 Historical Trend (2018-2022)
8.6.3.3 Forecast Trend (2023-2028)
8.6.4 Latin America
8.6.4.1 Market Share
8.6.4.2 Historical Trend (2018-2022)
8.6.4.3 Forecast Trend (2023-2028)
8.6.5 Middle East and Africa
8.6.5.1 Market Share
8.6.5.2 Historical Trend (2018-2022)
8.6.5.3 Forecast Trend (2023-2028)
9 North America Maintenance, Repair, and Operations (MRO) Market Analysis
9.1 Market by Provider
9.2 Market by End Use
9.3 Market by Country
9.3.1 United States of America
9.3.1.1 Market Share
9.3.1.2 Historical Trend (2018-2022)
9.3.1.3 Forecast Trend (2023-2028)
9.3.2 Canada
9.3.2.1 Market Share
9.3.2.2 Historical Trend (2018-2022)
9.3.2.3 Forecast Trend (2023-2028)
10 Europe Maintenance, Repair, and Operations (MRO) Market Analysis
10.1 Market by Provider
10.2 Market by End Use
10.3 Market by Country
10.3.1 United Kingdom
10.3.1.1 Market Share
10.3.1.2 Historical Trend (2018-2022)
10.3.1.3 Forecast Trend (2023-2028)
10.3.2 Germany
10.3.2.1 Market Share
10.3.2.2 Historical Trend (2018-2022)
10.3.2.3 Forecast Trend (2023-2028)
10.3.3 France
10.3.3.1 Market Share
10.3.3.2 Historical Trend (2018-2022)
10.3.3.3 Forecast Trend (2023-2028)
10.3.4 Italy
10.3.4.1 Market Share
10.3.4.2 Historical Trend (2018-2022)
10.3.4.3 Forecast Trend (2023-2028)
10.3.5 Others
11 Asia Pacific Maintenance, Repair, and Operations (MRO) Market Analysis
11.1 Market by Provider
11.2 Market by End Use
11.3 Market by Country
11.3.1 China
11.3.1.1 Market Share
11.3.1.2 Historical Trend (2018-2022)
11.3.1.3 Forecast Trend (2023-2028)
11.3.2 Japan
11.3.2.1 Market Share
11.3.2.2 Historical Trend (2018-2022)
11.3.2.3 Forecast Trend (2023-2028)
11.3.3 India
11.3.3.1 Market Share
11.3.3.2 Historical Trend (2018-2022)
11.3.3.3 Forecast Trend (2023-2028)
11.3.4 ASEAN
11.3.4.1 Market Share
11.3.4.2 Historical Trend (2018-2022)
11.3.4.3 Forecast Trend (2023-2028)
11.3.5 South Korea
11.3.5.1 Market Share
11.3.5.2 Historical Trend (2018-2022)
11.3.5.3 Forecast Trend (2023-2028)
11.3.6 Australia
11.3.6.1 Market Share
11.3.6.2 Historical Trend (2018-2022)
11.3.6.3 Forecast Trend (2023-2028)
11.3.7 Others
12 Latin America Maintenance, Repair, and Operations (MRO) Market Analysis
12.1 Market by Provider
12.2 Market by End Use
12.3 Market by Country
12.3.1 Brazil
12.3.1.1 Market Share
12.3.1.2 Historical Trend (2018-2022)
12.3.1.3 Forecast Trend (2023-2028)
12.3.2 Argentina
12.3.2.1 Market Share
12.3.2.2 Historical Trend (2018-2022)
12.3.2.3 Forecast Trend (2023-2028)
12.3.3 Mexico
12.3.3.1 Market Share
12.3.3.2 Historical Trend (2018-2022)
12.3.3.3 Forecast Trend (2023-2028)
12.3.4 Others
13 Middle East and Africa Maintenance, Repair, and Operations (MRO) Market Analysis
13.1 Market by Provider
13.2 Market by End Use
13.3 Market by Country
13.3.1 Saudi Arabia
13.3.1.1 Market Share
13.3.1.2 Historical Trend (2018-2022)
13.3.1.3 Forecast Trend (2023-2028)
13.3.2 United Arab Emirates
13.3.2.1 Market Share
13.3.2.2 Historical Trend (2018-2022)
13.3.2.3 Forecast Trend (2023-2028)
13.3.3 Nigeria
13.3.3.1 Market Share
13.3.3.2 Historical Trend (2018-2022)
13.3.3.3 Forecast Trend (2023-2028)
13.3.4 South Africa
13.3.4.1 Market Share
13.3.4.2 Historical Trend (2018-2022)
13.3.4.3 Forecast Trend (2023-2028)
13.3.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Competitive Landscape
15.1 Market Structure
15.2 Company Profiles
15.2.1 Airgas, Inc.
15.2.1.1 Company Overview
15.2.1.2 Product Portfolio
15.2.1.3 Demographic Reach and Achievements
15.2.1.4 Certifications
15.2.2 Applied Industrial Technologies
15.2.2.1 Company Overview
15.2.2.2 Product Portfolio
15.2.2.3 Demographic Reach and Achievements
15.2.2.4 Certifications
15.2.3 Electrocomponents plc
15.2.3.1 Company Overview
15.2.3.2 Product Portfolio
15.2.3.3 Demographic Reach and Achievements
15.2.3.4 Certifications
15.2.4 W.W. Grainger, Inc.
15.2.4.1 Company Overview
15.2.4.2 Product Portfolio
15.2.4.3 Demographic Reach and Achievements
15.2.4.4 Certifications
15.2.5 Lawson Products, Inc
15.2.5.1 Company Overview
15.2.5.2 Product Portfolio
15.2.5.3 Demographic Reach and Achievements
15.2.5.4 Certifications
15.2.6 WESCO International, Inc.
15.2.6.1 Company Overview
15.2.6.2 Product Portfolio
15.2.6.3 Demographic Reach and Achievements
15.2.6.4 Certifications
15.2.7 Wolseley Limited
15.2.7.1 Company Overview
15.2.7.2 Product Portfolio
15.2.7.3 Demographic Reach and Achievements
15.2.7.4 Certifications
15.2.8 ERIKS N.V
15.2.8.1 Company Overview
15.2.8.2 Product Portfolio
15.2.8.3 Demographic Reach and Achievements
15.2.8.4 Certifications
15.2.9 Johnson Controls
15.2.9.1 Company Overview
15.2.9.2 Product Portfolio
15.2.9.3 Demographic Reach and Achievements
15.2.9.4 Certifications
15.2.10 Wurth Group
15.2.10.1 Company Overview
15.2.10.2 Product Portfolio
15.2.10.3 Demographic Reach and Achievements
15.2.10.4 Certifications
15.2.11 Caterpillar Inc.
15.2.11.1 Company Overview
15.2.11.2 Product Portfolio
15.2.11.3 Demographic Reach and Achievements
15.2.11.4 Certifications
15.2.12 Others
16 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Maintenance, Repair, and Operations (MRO) Market: Key Industry Highlights, 2018 and 2028
2. Global Maintenance, Repair, and Operations (MRO) Historical Market: Breakup by Provider (USD Million), 2018-2022
3. Global Maintenance, Repair, and Operations (MRO) Market Forecast: Breakup by Provider (USD Million), 2023-2028
4. Global Maintenance, Repair, and Operations (MRO) Historical Market: Breakup by End Use (USD Million), 2018-2022
5. Global Maintenance, Repair, and Operations (MRO) Market Forecast: Breakup by End Use (USD Million), 2023-2028
6. Global Maintenance, Repair, and Operations (MRO) Historical Market: Breakup by Region (USD Million), 2018-2022
7. Global Maintenance, Repair, and Operations (MRO) Market Forecast: Breakup by Region (USD Million), 2023-2028
8. North America Maintenance, Repair, and Operations (MRO) Historical Market: Breakup by Country (USD Million), 2018-2022
9. North America Maintenance, Repair, and Operations (MRO) Market Forecast: Breakup by Country (USD Million), 2023-2028
10. Europe Maintenance, Repair, and Operations (MRO) Historical Market: Breakup by Country (USD Million), 2018-2022
11. Europe Maintenance, Repair, and Operations (MRO) Market Forecast: Breakup by Country (USD Million), 2023-2028
12. Asia Pacific Maintenance, Repair, and Operations (MRO) Historical Market: Breakup by Country (USD Million), 2018-2022
13. Asia Pacific Maintenance, Repair, and Operations (MRO) Market Forecast: Breakup by Country (USD Million), 2023-2028
14. Latin America Maintenance, Repair, and Operations (MRO) Historical Market: Breakup by Country (USD Million), 2018-2022
15. Latin America Maintenance, Repair, and Operations (MRO) Market Forecast: Breakup by Country (USD Million), 2023-2028
16. Middle East and Africa Maintenance, Repair, and Operations (MRO) Historical Market: Breakup by Country (USD Million), 2018-2022
17. Middle East and Africa Maintenance, Repair, and Operations (MRO) Market Forecast: Breakup by Country (USD Million), 2023-2028
18. Global Maintenance, Repair, and Operations (MRO) Market Structure
Key Questions Answered in the Report
In 2022, the market attained a value of nearly USD 549.8 billion.
The market is projected to grow at a CAGR of 3% between 2023 and 2028.
The market is estimated to witness a healthy growth in the forecast period of 2023-2028 to reach about USD 656.49 billion by 2028.
The major drivers of the industry, such as rising disposable incomes, increasing adoption of professional services, rising standardisation of equipment and services within critical manufacturing operations, increasing digitalisation, and growing technological advancements, are expected to aid the market growth.
The key trend guiding the growth of the market includes the launch of smart industries, which use predictive maintenance, like sensors and IoT.
The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The leading providers in the industry 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.
The major players in the industry are Airgas, Inc., Applied Industrial Technologies, Electrocomponents plc, W.W. Grainger, Inc., Lawson Products, Inc, WESCO International, Inc., Wolseley Limited, ERIKS N.V, Johnson Controls, Wurth Group, and Caterpillar Inc., among others.
Analyst Review
The global maintenance, repair, and operations (MRO) market attained a value of USD 549.8 billion in 2022, driven by demand for efficiency across industries. Aided by the rise of smart industry practices, the market is expected to witness a further growth in the forecast period of 2023-2028, growing at a CAGR of 3%. The market is projected to reach USD 656.49 billion by 2028.
EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. Based on provider, the market can be segmented into OEM and aftermarket. By end-use, the industry is divided into manufacturing, construction, electrical, facility, mining, aerospace and defence, automotive, food and beverages, pharmaceuticals, chemicals, and oil and gas, among others. The major regional markets for maintenance, repair, and operations (MRO) are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The key players in the above market include Airgas, Inc., Applied Industrial Technologies, Electrocomponents plc, W.W. Grainger, Inc., Lawson Products, Inc, WESCO International, Inc., Wolseley Limited, ERIKS N.V, Johnson Controls, Wurth Group, and Caterpillar Inc., among others.
EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.
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