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Global Maintenance, Repair, and Operations (MRO) Market: By Provider: OEM, Aftermarket; By End Use: Manufacturing, Construction, Electrical, Facility, Mining, Aerospace and Defence, Automotive, Others; Regional Analysis; Historical Market and Forecast (2017-2027); Competitive Landscape; Industry Events and Developments
Global Maintenance, Repair, and Operations (MRO) Market Outlook
The global maintenance, repair, and operations (MRO) market attained a value of USD 685.5 billion in 2020. The market is expected to further grow at a CAGR of 2.3% in the forecast period of 2022-2027 to reach USD 787.2 billion by 2026.
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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:
- Electrocomponents plc
- WESCO International, Inc.
- W.W. Grainger, Inc.
- Lawson Products, Inc
- Wolseley Limited
- ERIKS N.V
- 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.
| REPORT FEATURES | DETAILS |
|---|---|
| Base Year | 2020 |
| Historical Period | 2017-2021 |
| Forecast Period | 2022-2027 |
| Scope of the Report | Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- Provider, End Use, Region |
| Breakup by Provider | OEM, Aftermarket |
| Breakup by End Use | Manufacturing, Construction, Electrical, Facility, Mining, Aerospace and Defence, Automotive, Food and Beverages, Pharmaceuticals, Chemicals, Oil and Gas, Others |
| Breakup by Region | North America, Latin America, Europe, Middle East and Africa, Asia Pacific |
| Market Dynamics | SWOT, Porter's Five Forces, Key Indicators for Price and Demand |
| Competitive Landscape | Market Structure, Company Profiles- Company Overview, Product Portfolio, Demographic Reach and Achievements, Certifications |
| Companies Covered | Electrocomponents plc, WESCO International, Inc., W.W. Grainger, Inc., Lawson Products, Inc, Wolseley Limited, ERIKS N.V, Others |
| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*We at Expert Market Research always strive to give you the latest information. The numbers in the article are only indicative and may be different from the actual 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 Snapshot
6.1 Global
6.2 Regional
7 Industry Opportunities and Challenges
8 Global Maintenance, Repair, and Operations (MRO) Market Analysis
8.1 Key Industry Highlights
8.2 Global Maintenance, Repair, and Operations (MRO) Historical Market (2017-2021)
8.3 Global Maintenance, Repair, and Operations (MRO) Market Forecast (2022-2027)
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 (2017-2021)
8.4.1.3 Forecast Trend (2022-2027)
8.4.2 Aftermarket
8.4.2.1 Market Share
8.4.2.2 Historical Trend (2017-2021)
8.4.2.3 Forecast Trend (2022-2027)
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 (2017-2021)
8.5.1.3 Forecast Trend (2022-2027)
8.5.2 Construction
8.5.2.1 Market Share
8.5.2.2 Historical Trend (2017-2021)
8.5.2.3 Forecast Trend (2022-2027)
8.5.3 Electrical
8.5.3.1 Market Share
8.5.3.2 Historical Trend (2017-2021)
8.5.3.3 Forecast Trend (2022-2027)
8.5.4 Facility
8.5.4.1 Market Share
8.5.4.2 Historical Trend (2017-2021)
8.5.4.3 Forecast Trend (2022-2027)
8.5.5 Mining
8.5.5.1 Market Share
8.5.5.2 Historical Trend (2017-2021)
8.5.5.3 Forecast Trend (2022-2027)
8.5.6 Aerospace and Defence
8.5.6.1 Market Share
8.5.6.2 Historical Trend (2017-2021)
8.5.6.3 Forecast Trend (2022-2027)
8.5.7 Automotive
8.5.7.1 Market Share
8.5.7.2 Historical Trend (2017-2021)
8.5.7.3 Forecast Trend (2022-2027)
8.5.8 Food and Beverages
8.5.8.1 Market Share
8.5.8.2 Historical Trend (2017-2021)
8.5.8.3 Forecast Trend (2022-2027)
8.5.9 Pharmaceuticals
8.5.9.1 Market Share
8.5.9.2 Historical Trend (2017-2021)
8.5.9.3 Forecast Trend (2022-2027)
8.5.10 Chemicals
8.5.10.1 Market Share
8.5.10.2 Historical Trend (2017-2021)
8.5.10.3 Forecast Trend (2022-2027)
8.5.11 Oil and Gas
8.5.11.1 Market Share
8.5.11.2 Historical Trend (2017-2021)
8.5.11.3 Forecast Trend (2022-2027)
8.5.12 Others
8.6 Global Maintenance, Repair, and Operations (MRO) Market by Region
8.6.1 Market Share
8.6.1.1 North America
8.6.1.2 Europe
8.6.1.3 Asia Pacific
8.6.1.4 Latin America
8.6.1.5 Middle East and Africa
9 Regional Analysis
9.1 North America
9.1.1 Historical Trend (2017-2021)
9.1.2 Forecast Trend (2022-2027)
9.1.3 Breakup by Country
9.1.3.1 United States of America
9.1.3.2 Canada
9.2 Europe
9.2.1 Historical Trend (2017-2021)
9.2.2 Forecast Trend (2022-2027)
9.2.3 Breakup by Country
9.2.3.1 United Kingdom
9.2.3.2 Germany
9.2.3.3 France
9.2.3.4 Italy
9.2.3.5 Others
9.3 Asia Pacific
9.3.1 Historical Trend (2017-2021)
9.3.2 Forecast Trend (2022-2027)
9.3.3 Breakup by Country
9.3.3.1 China
9.3.3.2 Japan
9.3.3.3 India
9.3.3.4 ASEAN
9.3.3.5 Australia
9.3.3.6 Others
9.4 Latin America
9.4.1 Historical Trend (2017-2021)
9.4.2 Forecast Trend (2022-2027)
9.4.3 Breakup by Country
9.4.3.1 Brazil
9.4.3.2 Argentina
9.4.3.3 Mexico
9.4.3.4 Others
9.5 Middle East and Africa
9.5.1 Historical Trend (2017-2021)
9.5.2 Forecast Trend (2022-2027)
9.5.3 Breakup by Country
9.5.3.1 Saudi Arabia
9.5.3.2 United Arab Emirates
9.5.3.3 Nigeria
9.5.3.4 South Africa
9.5.3.5 Others
10 Market Dynamics
10.1 SWOT Analysis
10.1.1 Strengths
10.1.2 Weaknesses
10.1.3 Opportunities
10.1.4 Threats
10.2 Porter’s Five Forces Analysis
10.2.1 Supplier’s Power
10.2.2 Buyer’s Power
10.2.3 Threat of New Entrants
10.2.4 Degree of Rivalry
10.2.5 Threat of Substitutes
10.3 Key Indicators for Demand
10.4 Key Indicators for Price
11 Value Chain Analysis
12 Competitive Landscape
12.1 Market Structure
12.2 Key Players
12.3 Company Profiles
12.3.1 Electrocomponents plc
12.3.1.1 Company Overview
12.3.1.2 Product Portfolio
12.3.1.3 Demographic Reach and Achievements
12.3.1.4 Certifications
12.3.2 WESCO International, Inc.
12.3.2.1 Company Overview
12.3.2.2 Product Portfolio
12.3.2.3 Demographic Reach and Achievements
12.3.2.4 Certifications
12.3.3 W.W. Grainger, Inc.
12.3.3.1 Company Overview
12.3.3.2 Product Portfolio
12.3.3.3 Demographic Reach and Achievements
12.3.3.4 Certifications
12.3.4 Lawson Products, Inc
12.3.4.1 Company Overview
12.3.4.2 Product Portfolio
12.3.4.3 Demographic Reach and Achievements
12.3.4.4 Certifications
12.3.5 Wolseley Limited
12.3.5.1 Company Overview
12.3.5.2 Product Portfolio
12.3.5.3 Demographic Reach and Achievements
12.3.5.4 Certifications
12.3.6 ERIKS N.V
12.3.6.1 Company Overview
12.3.6.2 Product Portfolio
12.3.6.3 Demographic Reach and Achievements
12.3.6.4 Certifications
12.3.7 Others
13 Industry Events and Developments
List of Key Figures and Tables
1. Global Maintenance, Repair, and Operations (MRO) Market: Key Industry Highlights, 2016 and 2026
2. Global Maintenance, Repair, and Operations (MRO) Historical Market: Breakup by Provider (USD Billion), 2017-2021
3. Global Maintenance, Repair, and Operations (MRO) Market Forecast: Breakup by Provider (USD Billion), 2022-2027
4. Global Maintenance, Repair, and Operations (MRO) Historical Market: Breakup by End Use (USD Billion), 2017-2021
5. Global Maintenance, Repair, and Operations (MRO) Market Forecast: Breakup by End Use (USD Billion), 2022-2027
6. Global Maintenance, Repair, and Operations (MRO) Historical Market: Breakup by Region (USD Billion), 2017-2021
7. Global Maintenance, Repair, and Operations (MRO) Market Forecast: Breakup by Region (USD Billion), 2022-2027
8. North America Maintenance, Repair, and Operations (MRO) Historical Market: Breakup by Country (USD Billion), 2017-2021
9. North America Maintenance, Repair, and Operations (MRO) Market Forecast: Breakup by Country (USD Billion), 2022-2027
10. Europe Maintenance, Repair, and Operations (MRO) Historical Market: Breakup by Country (USD Billion), 2017-2021
11. Europe Maintenance, Repair, and Operations (MRO) Market Forecast: Breakup by Country (USD Billion), 2022-2027
12. Asia Pacific Maintenance, Repair, and Operations (MRO) Historical Market: Breakup by Country (USD Billion), 2017-2021
13. Asia Pacific Maintenance, Repair, and Operations (MRO) Market Forecast: Breakup by Country (USD Billion), 2022-2027
14. Latin America Maintenance, Repair, and Operations (MRO) Historical Market: Breakup by Country (USD Billion), 2017-2021
15. Latin America Maintenance, Repair, and Operations (MRO) Market Forecast: Breakup by Country (USD Billion), 2022-2027
16. Middle East and Africa Maintenance, Repair, and Operations (MRO) Historical Market: Breakup by Country (USD Billion), 2017-2021
17. Middle East and Africa Maintenance, Repair, and Operations (MRO) Market Forecast: Breakup by Country (USD Billion), 2022-2027
18. Global Maintenance, Repair, and Operations (MRO) Market Structure
Key Questions Answered in the Report
In 2020, the market attained a value of nearly USD 685.5 billion.
The market is projected to grow at a CAGR of 2.3% between 2021 and 2026.
The market is estimated to witness a healthy growth in the forecast period of 2022-2027 to reach about USD 787.2 billion by 2026.
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 Electrocomponents plc, WESCO International, Inc., W.W. Grainger, Inc., Lawson Products, Inc, Wolseley Limited, and ERIKS N.V, among others.
Analyst Review
The global maintenance, repair, and operations (MRO) market attained a value of USD 685.5 billion in 2020, 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 2022-2027, growing at a CAGR of 2.3%. The market is projected to reach USD 787.2 billion by 2026.
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 Electrocomponents plc, WESCO International, Inc., W.W. Grainger, Inc., Lawson Products, Inc, Wolseley Limited, and ERIKS N.V, 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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