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Global Maintenance, Repair, and Operations (MRO) Market Report and Forecast 2023-2028
Market Report I 2023-03-15 I 121 Pages I EMR Inc.
Global Maintenance, Repair, and Operations (MRO) Market Report and Forecast 2023-2028
Market Outlook
According to the report by Expert Market Research (EMR), the global maintenance, repair, and operations (MRO) market attained a value of USD 718.1 billion in 2022. Aided by the increasing demand for cost-effective and efficient maintenance solutions across various industries, the market is projected to further grow at a CAGR of 2.3% between 2023 and 2028 to reach a value of USD 824.11 billion by 2028.
Maintenance, repair, and operations (MRO) encompass a broad range of services, including equipment maintenance, repair, and replacement, aimed at ensuring the optimal performance and longevity of machinery, equipment, and infrastructure. MRO services are vital for industries such as manufacturing, oil and gas, aerospace, transportation, and utilities, among others, where the efficiency and reliability of equipment and infrastructure are of paramount importance.
The global maintenance, repair, and operations (MRO) market growth is primarily driven by the increasing emphasis on operational efficiency and cost reduction across various industries. Companies are increasingly focusing on minimising equipment downtime and reducing maintenance costs to maintain a competitive edge in the market. This has led to a growing demand for professional MRO services that offer efficient and cost-effective solutions for equipment maintenance, repair, and replacement.
Additionally, the increasing complexity of machinery and equipment has resulted in a greater need for specialised MRO services. Advanced machinery often requires specialised knowledge and expertise to maintain, repair, and operate, leading to a growing demand for MRO providers with the necessary technical skills and experience. Service providers for MRO are increasingly offering custom service plans that are adapted to suit the needs of the particular machinery, equipment, or infrastructure of clients.
The growing trend of outsourcing MRO services is another key factor propelling the growth of the global maintenance, repair, and operations (MRO) market. By outsourcing MRO services, companies can focus on their core business activities, while ensuring that their equipment and infrastructure are maintained efficiently by specialised service providers. This not only reduces operational costs but also improves the overall efficiency and performance of the company. Moreover, advancements in technologies, such as predictive maintenance and the Internet of Things (IoT), are expected to contribute to the growth of the global MRO market.
Market Segmentation
The market can be divided based on provider, end use, and region.
Market Breakup by Provider
- OEM
- Aftermarket
Market Breakup by End Use
- Manufacturing
- Construction
- Electrical
- Facility
- Mining
- Aerospace and Defence
- Automotive
- Food and Beverages
- Pharmaceuticals
- Chemicals
- Oil and Gas
- Others
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the global maintenance, repair, and operations (MRO) companies. Some of the major key players explored in the report by Expert Market Research are as follows:
- 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
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*We at Expert Market Research always strive to provide you with 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 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 Porters Five Forces Analysis
14.2.1 Suppliers Power
14.2.2 Buyers 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
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