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Maintenance, Repair, and Operations (MRO) Market

Global Maintenance, Repair, and Operations (MRO) Market Size: By MRO Type: Industrial MRO, Electrical MRO, Facility MRO, Others; By Provider: OEM, Aftermarket; Regional Analysis; Market Dynamics: SWOT Analysis, Porter’s Five Forces Analysis, Key Indicators for Demand, Key Indicators for Price; Competitive Landscape; 2024-2032

Global Maintenance, Repair, and Operations (MRO) Market Size

The global maintenance, repair, and operations (MRO) market reached a value of USD 747.61 billion in 2023 and expected to grow at a CAGR of 2.4% in the forecast period of 2024-2032 to reach USD 922.70 billion by 2032.

 

Maintenance, Repair, and Operations (MRO) Market Outlook

  • 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 Operations (MRO) Market

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Maintenance, Repair, and Operations (MRO) Market Growth

Maintenance, repair, and operations (MRO) refer to the miscellaneous expenditure by firms to ensure the smooth functioning of its operations and production process. MRO products are generally utilised during the production process, such as consumables (laboratory equipment, cleaning, or office supplies), machinery (pumps, compressors, or valves), repair and maintenance tools (lubricants, repair tools, gaskets), and other miscellaneous products like fixtures, furniture, and computers.

 

The rapid industrialisation and infrastructure growth in emerging markets are fuelling MRO products and services demand as economies expand and require maintaining and upgrading existing infrastructure. Additionally, companies are also prioritising asset lifecycle management, optimising asset performance and extending operational lifespan, which fosters efficiency and cost-effectiveness and drives maintenance, repair, and operations (MRO) market expansion. The shift towards predictive maintenance, enabled by sensors and IoT, is also opening avenues for MRO providers to offer advanced solutions that align with industry needs for enhanced operational efficiency and cost savings.

 

Key Trends and Developments

Shift towards predictive maintenance, focus on asset lifecycle management, and demand for advanced maintenance management systems are boosting the maintenance, repair, and operations (MRO) market development

 

March 2024

Daikin announced the acquisition of BKF Klima in Denmark to strengthen its position in the Danish market and expand its Heating, Ventilation, and Air Conditioning (HVAC) offerings. This strategic move includes the establishment of new facilities in Brøndby, Denmark, such as a Daikin Training Center for installers and a Daikin Experience Center for consumers.

 

January 2023

Applied Industrial Technologies launched the fifth edition of its Applied Maintenance Supply & Solutions Master Product Catalogue, which features over 47,000 maintenance products specifically chosen for maintenance, repair, operations, and production (MROP) users.

 

January 2023

MSC Industrial Supply Co. acquired Buckeye Industrial Supply Co. and True-Edge Grinding Inc to strengthen its position as a prominent multichannel supplier of MRO products and services. These companies specialise in custom tool manufacturing, the distribution of metalworking and MRO products.

 

Shift towards predictive maintenance

In the aviation industry, airlines like Lufthansa Technik utilise predictive maintenance solutions that analyse data from aircraft sensors to predict component failures before they occur, enabling proactive maintenance, minimising aircraft downtime, and enhancing safety by preventing unexpected failures.

 

Focus on asset lifecycle management

Another significant trend shaping the maintenance, repair, and operations (MRO) market outlook is the focus on asset lifecycle management. ExxonMobil implement such strategies to optimise the performance and maintenance of their critical infrastructure, from drilling equipment to refineries, which helps in extending the lifespan of assets and enhance overall operational efficiency.

 

Increasing demand for sustainable and environmentally friendly solutions

In the automotive industry, companies like Tesla prioritise eco-friendly MRO practices, such as using recycled materials in vehicle repairs and implementing energy-efficient maintenance processes in their manufacturing facilities, which is driving the development of green MRO solutions.

 

Rising demand for advanced maintenance management systems

There is a rising demand for advanced maintenance management systems and companies like Siemens utilise advanced software that integrates IoT sensors and predictive analytics to monitor equipment health in real-time and schedule maintenance proactively.

 

Maintenance, Repair, and Operations (MRO) Market Trends

The market is also being driven by the thriving digitalisation and the rising demand for increased efficiency in businesses. The digital revolution in MRO is being driven by the adoption of technologies such as the Internet of Things (IoT), blockchain, artificial intelligence (AI), robotics, AR/VR, digital twins, and 3D printing. These technologies are increasing the efficiency of MRO operations and reducing downtime, which is thereby influencing the maintenance, repair, and operations (MRO) market growth.

 

Moreover, digitalisation is creating a continuous stream of data flowing through the MRO supply chain, enabling better visibility, and predictive maintenance. Digital MRO solutions like Lufthansa Technik's AVIATAR platform are providing global access, faster troubleshooting, improved time management, and reduced costs. Mobile apps are also transforming the MRO sector by improving cycle time and revenue.

 

Maintenance Repair Operations (MRO) Market by Segments

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Maintenance, Repair, and Operations (MRO) Industry Segmentation

The EMR’s report titled “Maintenance, Repair, and Operations (MRO) Market Report and Forecast 2024-2032” offers a detailed analysis of the market based on the following segments:

 

Market Breakup by MRO Type

  • Industrial MRO
  • Electrical MRO
  • Facility MRO
  • Others

 

Market Breakup by Provider

  • OEM
  • Aftermarket

 

Market Breakup by Region

  • North America
  • Europe 
  • Asia Pacific 
  • Latin America 
  • Middle East and Africa 

 

Maintenance, Repair, and Operations (MRO) Market Share

OEMs leads the market as they have better expertise and offer high-quality and genuine parts

OEMs in the MRO market are known for their specialised knowledge and expertise in their products, offering high-quality maintenance services using genuine parts for optimal performance. They lead in technological advancements and innovation, ensuring reliable maintenance solutions.

 

On the other hand, the aftermarket segment provides alternative maintenance services outside of OEM offerings, catering to a wide range of industries with cost-effective solutions. While OEMs focus on quality assurance, aftermarket providers offer flexibility and price competitive options for maintenance and repair services.

 

Leading Companies in the Maintenance, Repair, and Operations (MRO) Market

Market players are focused on improving service quality, leveraging technological advancements like IoT to optimise asset performance, outsourcing maintenance services, and asset lifecycle management

 

Air Liquide S.A. (Airgas, Inc.) was founded in 1982 and is headquartered in Pennsylvania, United States. It is a leading supplier of industrial, medical, and speciality gases, welding equipment and supplies, safety products, atmospheric gases, carbon dioxide, dry ice, nitrous oxide, ammonia, and process chemicals.

 

Ferguson Enterprises, LLC was founded in 1953 and is headquartered in Virginia, United States. It is a prominent distributor of plumbing supplies, PVF, waterworks, fire and fabrication products, HVAC equipment, and industrial products and services.

 

Rubix Group International Limited was founded in 1920. The company is headquartered in London, United Kingdom. The company supplies industrial maintenance and repairing products, including bearings, power transmission components, tools, overhaul, and other equipment.

 

Hayley Group Limited was founded in 1976 and is headquartered in Nevada, United States. The company supplies industrial maintenance and repairing products, including engineering components, consumables, and related support services.

 

Other key players in the global maintenance, repair, and operations (MRO) market include 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.

 

Maintenance Repair Operations (MRO) Market by Region

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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.

 

Key Highlights of the Report

REPORT FEATURES DETAILS
Base Year 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:

  • MRO Type
  • Provider
  • Region
Breakup by MRO Type
  • Industrial MRO
  • Electrical MRO
  • Facility MRO
  • Others
Breakup by Provider
  • OEM
  • Aftermarket
Breakup by Region
  • North America
    • United States of America 
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • South Korea
    • Australia
    • Others
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • United Arab Emirates
    • Nigeria
    • South Africa
    • Others
Market Dynamics
  • SWOT Analysis
  • Porter's Five Forces Analysis
  • Key Indicators for Demand
  • Key Indicators for Price
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • Air Liquide S.A.  (Airgas, Inc.)
  • Applied Industrial Technologies Inc.
  • W.W. Grainger, Inc.
  • Adolf Würth GmbH & Co. KG
  • Rubix Group International Limited
  • ERIKS N.V.
  • Hayley Group Limited
  • Genuine Parts Company
  • RS Group plc
  • Ferguson Enterprises, LLC
  • Others

 

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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.

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 (2018-2023) 
    8.3    Global Maintenance, Repair, and Operations (MRO) Market Forecast (2024-2032)
    8.4    Global Maintenance, Repair, and Operations (MRO) Market by MRO Type
        8.4.1    Industrial MRO
            8.4.1.1    Historical Trend (2018-2023)
            8.4.1.2    Forecast Trend (2024-2032)
        8.4.2    Electrical MRO   
            8.4.2.1    Historical Trend (2018-2023)
            8.4.2.2    Forecast Trend (2024-2032)
        8.4.3    Facility MRO   
            8.4.3.1    Historical Trend (2018-2023)
            8.4.3.2    Forecast Trend (2024-2032)
        8.4.4    Others
    8.5    Global Maintenance, Repair, and Operations (MRO) Market by Provider
        8.5.1    OEM
            8.5.1.1    Historical Trend (2018-2023)
            8.5.1.2    Forecast Trend (2024-2032) 
        8.5.2    Aftermarket
            8.5.2.1    Historical Trend (2018-2023)
            8.5.2.2    Forecast Trend (2024-2032)
    8.6    Global Maintenance, Repair, and Operations (MRO) Market by Region
        8.6.1    North America
            8.6.1.1    Historical Trend (2018-2023)
            8.6.1.2    Forecast Trend (2024-2032) 
            8.6.1.3    Breakup by MRO Type 
            8.6.1.4    Breakup by Provider
        8.6.2    Europe
            8.6.2.1    Historical Trend (2018-2023)
            8.6.2.2    Forecast Trend (2024-2032) 
            8.6.2.3    Breakup by MRO Type 
            8.6.2.4    Breakup by Provider
        8.6.3    Asia Pacific
            8.6.3.1    Historical Trend (2018-2023)
            8.6.3.2    Forecast Trend (2024-2032) 
            8.6.3.3    Breakup by MRO Type 
            8.6.3.4    Breakup by Provider
        8.6.4    Latin America
            8.6.4.1    Historical Trend (2018-2023)
            8.6.4.2    Forecast Trend (2024-2032) 
            8.6.4.3    Breakup by MRO Type 
            8.6.4.4    Breakup by Provider
        8.6.5    Middle East and Africa
            8.6.5.1    Historical Trend (2018-2023)
            8.6.5.2    Forecast Trend (2024-2032) 
            8.6.5.3    Breakup by MRO Type 
            8.6.5.4    Breakup by Provider
9    North America Maintenance, Repair, and Operations (MRO) Market Analysis
    9.1    United States of America 
        9.1.1    Historical Trend (2018-2023)
        9.1.2    Forecast Trend (2024-2032)
    9.2    Canada
        9.2.1    Historical Trend (2018-2023)
        9.2.2    Forecast Trend (2024-2032)
10    Europe Maintenance, Repair, and Operations (MRO) Market Analysis
    10.1    United Kingdom
        10.1.1    Historical Trend (2018-2023)
        10.1.2    Forecast Trend (2024-2032)
    10.2    Germany
        10.2.1    Historical Trend (2018-2023)
        10.2.2    Forecast Trend (2024-2032)
    10.3    France
        10.3.1    Historical Trend (2018-2023)
        10.3.2    Forecast Trend (2024-2032)
    10.4    Italy
        10.4.1    Historical Trend (2018-2023)
        10.4.2    Forecast Trend (2024-2032)
    10.5    Others
11    Asia Pacific Maintenance, Repair, and Operations (MRO) Market Analysis
    11.1    China
        11.1.1    Historical Trend (2018-2023)
        11.1.2    Forecast Trend (2024-2032)
    11.2    Japan
        11.2.1    Historical Trend (2018-2023)
        11.2.2    Forecast Trend (2024-2032)
    11.3    India
        11.3.1    Historical Trend (2018-2023)
        11.3.2    Forecast Trend (2024-2032)
    11.4    ASEAN
        11.4.1    Historical Trend (2018-2023)
        11.4.2    Forecast Trend (2024-2032)
    11.5    Australia
        11.5.1    Historical Trend (2018-2023)
        11.5.2    Forecast Trend (2024-2032)
    11.6    Others
12    Latin America Maintenance, Repair, and Operations (MRO) Market Analysis
    12.1    Brazil
        12.1.1    Historical Trend (2018-2023)
        12.1.2    Forecast Trend (2024-2032)
    12.2    Argentina
        12.2.1    Historical Trend (2018-2023)
        12.2.2    Forecast Trend (2024-2032)
    12.3    Mexico
        12.3.1    Historical Trend (2018-2023)
        12.3.2    Forecast Trend (2024-2032)
    12.4    Others
13    Middle East and Africa Maintenance, Repair, and Operations (MRO) Market Analysis
    13.1    Saudi Arabia
        13.1.1    Historical Trend (2018-2023)
        13.1.2    Forecast Trend (2024-2032)
    13.2    United Arab Emirates
        13.2.1    Historical Trend (2018-2023)
        13.2.2    Forecast Trend (2024-2032)
    13.3    Nigeria
        13.3.1    Historical Trend (2018-2023)
        13.3.2    Forecast Trend (2024-2032)
    13.4    South Africa
        13.4.1    Historical Trend (2018-2023)
        13.4.2    Forecast Trend (2024-2032)
    13.5    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    Air Liquide S.A.  (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 Inc. 
            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    W.W. Grainger, Inc. 
            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    Adolf Würth GmbH & Co. KG 
            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    Rubix Group International Limited 
            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    ERIKS N.V. 
            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    Hayley Group 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    Genuine Parts Company 
            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    RS Group plc 
            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    Ferguson Enterprises, LLC 
            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    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 2032
2.    Global Maintenance, Repair, and Operations (MRO) Historical Market: Breakup by MRO Type (USD Billion), 2018-2023
3.    Global Maintenance, Repair, and Operations (MRO) Market Forecast: Breakup by MRO Type (USD Billion), 2024-2032
4.    Global Maintenance, Repair, and Operations (MRO) Historical Market: Breakup by Provider (USD Billion), 2018-2023
5.    Global Maintenance, Repair, and Operations (MRO) Market Forecast: Breakup by Provider (USD Billion), 2024-2032
6.    Global Maintenance, Repair, and Operations (MRO) Historical Market: Breakup by Region (USD Billion), 2018-2023
7.    Global Maintenance, Repair, and Operations (MRO) Market Forecast: Breakup by Region (USD Billion), 2024-2032
8.    North America Maintenance, Repair, and Operations (MRO) Historical Market: Breakup by Country (USD Billion), 2018-2023
9.    North America Maintenance, Repair, and Operations (MRO) Market Forecast: Breakup by Country (USD Billion), 2024-2032
10.    Europe Maintenance, Repair, and Operations (MRO) Historical Market: Breakup by Country (USD Billion), 2018-2023
11.    Europe Maintenance, Repair, and Operations (MRO) Market Forecast: Breakup by Country (USD Billion), 2024-2032
12.    Asia Pacific Maintenance, Repair, and Operations (MRO) Historical Market: Breakup by Country (USD Billion), 2018-2023
13.    Asia Pacific Maintenance, Repair, and Operations (MRO) Market Forecast: Breakup by Country (USD Billion), 2024-2032
14.    Latin America Maintenance, Repair, and Operations (MRO) Historical Market: Breakup by Country (USD Billion), 2018-2023
15.    Latin America Maintenance, Repair, and Operations (MRO) Market Forecast: Breakup by Country (USD Billion), 2024-2032
16.    Middle East and Africa Maintenance, Repair, and Operations (MRO) Historical Market: Breakup by Country (USD Billion), 2018-2023
17.    Middle East and Africa Maintenance, Repair, and Operations (MRO) Market Forecast: Breakup by Country (USD Billion), 2024-2032
18.    Global Maintenance, Repair, and Operations (MRO) Market Structure

Key Questions Answered in the Report

In 2023, the maintenance, repair, and operations (MRO) market reached an approximate value of USD 747.61 billion.

The market is expected to grow at a CAGR of 2.4% between 2024 and 2032.

The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to USD 922.70 billion by 2032.

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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