Maintenance, Repair, and Operations (MRO) Market by MRO Type (Industrial MRO, Electrical MRO, and Facility MRO), Provider (OEM and Aftermarket), End User and Region - Global Industry Analysis, Opportunities and Forecast up to 2029

The global Maintenance, Repair, and Operations (MRO) market size was valued at $762.33 billion in 2023 and is projected to reach $931.68 billion by 2029, growing at a CAGR of 3.4% during the forecast period.
 
• Increasing focus on industry 4.0, leading to more manufacturing facilities, and rising demand for efficiency in the supply chain are the major factors driving the maintenance, repair, and operations (MRO) market growth.
 
• Additionally, flourishing digitalization and the rising demand for increased efficiency in businesses and standardization of equipment and services within critical manufacturing operations will boost the market growth.
 
• However, the rising spread of the COVID-19 pandemic affecting the supply chain due to the shutdown of factories caused by fear of infection which is expected to hamper the growth of the market.
 
• Moreover, increasing disposable incomes, growing adoption of professional services, and growing technological advancements are expected to augment the market growth to greater demand.

MRO stands for maintenance, repair, and operations refer to the miscellaneous expenditure by firms to ensure the smooth functioning of its operations and production process. These products are mostly used to keep business operations running. MRO includes spare parts, equipment, such as pumps and valves, consumables, like cleaning supplies, plant upkeep supplies, such as lubricants, and activities completed to restore or maintain the functioning of the required equipment.
                                                             
By MRO Type, the Industrial MRO Segment to Occupy Significant Market Share

In the manufacturing industry, the adoption of industrial MRO equipment has been positively impacted owing to various driving factors such as rising demand to reduce cost, growing market maturity, cyclical fluctuations in new equipment sales, and the increasing need to enhance product quality. Furthermore, enterprises in the manufacturing industry have been come across to invest in MROs to help them attain consistency in manufacturing and decrease the length of downtime in the manufacturing process.

By Geography, Asia Pacific Region to Grow at a Highest CAGR

Asia-Pacific is estimated to witness a significant growth rate in the foreseeable future. This is mainly contributed to the increasing adoption of professional services along with increasing trends of growth in various sectors such as manufacturing, automation, industrialization, and digitization and it is known to be a key manufacturing hub for spare parts that are supplied to different countries.

List of the Key Players Profiled in the Market Include:
• WESCO International, inc
• Rexel
• Wurth Group GmbH
• Airgas, Inc. (Air Liquide S.A.)
• Applied Industrial Technologies, Inc.
• Kaman Industrial Technologies Corporation
• Rubix Limited (IPH-Brammer Group)
• Consolidated Electrical Distributors, Inc.
• ERIKS Group
• Wolseley Limited (Ferguson Plc)
• MSC Industrial Direct Co., Inc.
• Electrocomponents plc
• Motion Industries, Inc. (Genuine Parts Company)
• Graybar Electric Co.
• Ferguson plc

What Can be Explored with this Research Report:
• Understand the key trends that will drive the market, challenges it faces in the current market scenario.
• Identify growth opportunities.
• Porter’s five force analysis.
• In-depth analysis of market segments and regions/countries predicted to observed promising growth.
• Historical and forecast size of the market in terms of revenue (USD Million).
• Company profiling with key products and solution offerings, key financial information, SWOT analysis, and business strategies adopted.

Market Segmentation:

The research report includes in-depth coverage of the industry analysis with size, share, and forecast for the below segments:

Global Maintenance, Repair, and Operations (MRO) Market by, MRO Type
• Industrial MRO
• Electrical MRO
• Facility MRO

Global Maintenance, Repair, and Operations (MRO) Market by, Provider
• OEM
• Aftermarket

Global Maintenance, Repair, and Operations (MRO) Market by, End User
• Manufacturing
• Construction
• Aerospace and Defence
• Automotive
• Chemicals
• Electrical
• Facility
• Food And Beverages
• Mining
• Oil and Gas
• Pharmaceuticals
• Other End Users

Global Maintenance, Repair, and Operations (MRO) Market by, Geography
• North America
• Europe
• Asia Pacific
• South America
• Middle East & Africa

Table Of Content

1 Market Overview           
    1.1 Introduction       
    1.2 Research Objectives      
    1.3 Market Segmentation      
    1.4 Stakeholders       
    1.5 List of Acronyms       
             
2 Executive Summary           
             
3 Research Methodology          
    3.1 Identification of Data       
    3.2 Evaluation of Market Dynamics     
    3.3 Collaboration of Data      
    3.4 Verification and Analysis      
    3.5 Data Sources       
    3.6 Assumptions       
             
4 Market Dynamics           
    4.1 Market Drivers        
            4.1.1 Increasing demand for supply chain performance
            4.1.2 Thriving digitalisation and the rising demand for increased efficiency in businesses
    4.2 Market Restraints       
            4.2.1 The spread of COVID-19 is impacting the supply chain
    4.3 Impact of COVID-19 on Maintenance, Repair, and Operations (MRO) Market 
             
5 Porter's Five Force Analysis          
    5.1 Bargaining Power of Suppliers      
    5.2 Bargaining Power of Buyers      
    5.3 Threat of New Entrants      
    5.4 Threat of Substitutes      
    5.5 Competitive Rivalry in the Market     
             
6 Global Maintenance, Repair, and Operations (MRO) Market by, MRO Type     
    6.1 Overview       
    6.2 Industrial MRO        
    6.3 Electrical MRO       
    6.4 Facility MRO       
             
7 Global Maintenance, Repair, and Operations (MRO) Market by, Provider     
    7.1 Overview       
    7.2 OEM        
    7.3 Aftermarket       
             
8 Global Maintenance, Repair, and Operations (MRO) Market by, End User     
    8.1 Overview       
    8.2 Manufacturing       
    8.3 Construction       
    8.4 Aerospace and Defence      
    8.5 Automotive       
    8.6 Chemicals       
    8.7 Electrical        
    8.8 Facility        
    8.9 Food and Beverages      
    8.10 Mining        
    8.11 Oil and Gas       
    8.12 Pharmaceuticals       
    8.13 Other End Users       
             
9 Global Maintenance, Repair, and Operations (MRO) Market by, Geography     
    9.1 Overview       
    9.2 North America       
    9.3 Europe        
    9.4 Asia Pacific       
    9.5 South America       
    9.6 Middle East & Africa      
             
10 Key Developments           
              
11 Company Profiling           
    11.1 WESCO International, inc      
            11.1.1 Business Overview
            11.1.2 Product/Service Offering
            11.1.3 Financial Overview
            11.1.4 SWOT Analysis
            11.1.5 Key Activities
    11.2 Rexel        
    11.3 Wurth Group GmbH       
    11.4 Airgas, Inc. (Air Liquide S.A.)      
    11.5 Applied Industrial Technologies, Inc.     
    11.6 Kaman Industrial Technologies Corporation    
    11.7 Rubix Limited (IPH-Brammer Group)     
    11.8 Consolidated Electrical Distributors, Inc.     
    11.9 ERIKS Group       
    11.10 Wolseley Limited (Ferguson Plc)     
    11.11 MSC Industrial Direct Co., Inc.      
    11.12 Electrocomponents plc      
    11.13 Motion Industries, Inc. (Genuine Parts Company)    
    11.14 Graybar Electric Co.       
    11.15 Ferguson plc