The new report by Expert Market Research titled, ‘Global Maintenance Repair Operations (MRO) Market Size, Share, Price, Trends, Growth, Report and Forecast 2020-2025’, gives an in-depth analysis of the global maintenance repair operations (MRO) market, assessing the market based on its segments like providers, end-uses, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analyzing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2015-2025)
• Historical Market Size (2019): USD 143 billion
• Forecast CAGR (2020-2025): 1.5%
• Forecast Market Size (2025): USD 156 billion
The growing brand penetration in the automotive sector is expected to fuel the demand growth due to the increasing standardisation of equipment and facilities in essential operations. The shale gas processing systems, by type of part, containing compressors and pumps, internal combustion engines, heat exchangers, electric machines, and measuring and regulating equipment, provide a broad scope for MRO’s business. Initiatives taken by manufacturers to reduce the risk of catastrophic accidents, boost workplace health, and achieve organisational efficiency are expected to support the demand growth. The Asia Pacific region is witnessing a steady growth in the acceptance of technical services and is expected to be a global centre for the production of replacement parts supplied to various countries. The MRO sector is driven by the industrial development. As long as there is a growth of the global manufacturing and production across industries, there will always be the demand for MROs.
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Industry Definition and Major Segments
Maintenance repair operations (MRO) are operations that an organisation undertakes to develop an end-product. MRO may include everything used in the manufacture of a final product but not used in the final product itself.
By provider, the industry is divided into:
On the basis of end-use, the industry is divided into:
The regional markets for maintenance repair operations (MRO) include:
1 North America
1.1 United States of America
2.2 United Kingdom
3 Asia Pacific
4 Latin America
5 Middle East & Africa
5.1 Saudi Arabia
5.2 United Arab Emirates
5.4 South Africa
The manufacturing industry plays a vital role in the demand for the maintenance repair operations (MRO) market. E-commerce has become a key differentiator for MRO goods and services all over the world. The introduction of e-commerce in the delivery of MRO goods has revolutionized the sourcing process, along with increasing the quality and precision of the production processes in specific end-use sectors. The downtime inherent in the production cycle is very expensive. Investment in MROs helps manufacturing companies maintain output efficiency and minimise downtime in the production cycle. Volkswagen, for example, is currently using MRO facilities for its development units in China. MRO procurement is not a crucial attribute of most consumers. MRO outsourcing and optimised production strategies are becoming a mature sector and gains in terms of cash and labour cost savings. The price of the products is largely influenced by fluctuations in the price of raw materials and manufacturing processes. Support from several policymakers and their efforts to implement many schemes and projects encouraging industrial production has significantly accelerated the sector and is projected to do so in the forecast period.
Key Market Players
The major players in the market are Electrocomponents plc (LON: ECM), WESCO International, Inc. (NYSE: WCC), W.W. Grainger, Inc. (NYSE: GWW), Lawson Products, Inc (NASDAQ: LAWS), Wolseley Limited (LON: FERG), Eriks N.V, and others. The report covers the market shares, capacities, plant turnarounds, expansions, investments, and mergers and acquisitions, among other latest developments of these market players.
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Note 2: As the novel coronavirus (COVID-19) continues to spread across the world, our analysts are constantly tracking the impact of this rapidly evolving situation on the markets and the consumer purchase behaviours. Thus, our latest estimates and analysis about the current market trends and forecast will exhaustively reflect the effects of this emerging pandemic.
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