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Maintenance Repair and Operations (MRO) Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

January 2023 | 142 pages | ID: M101ED9AAB7DEN
IMARC Group

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The global maintenance repair and operations (MRO) market size reached US$ 648.4 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 769.8 Billion by 2028, exhibiting a growth rate (CAGR) of 2.81% during 2023-2028.

Maintenance, repair and operations (MRO) refer to the processes undertaken by organizations to ensure smooth functioning of the tools and equipment. It involves conducting periodic functional checks, servicing and replacing of necessary machinery and building infrastructure for optimal operational efficiency. MRO processes ensure that the facilities, equipment, systems and tools are stocked, maintained and safe to use. They aid in improving workflow management, employee safety and minimizing downtime and repair frequencies. MRO also provides prompt alerts for the replacement of organizational components before defects arise. As a result, MRO finds extensive application across various industries, such as construction, chemical, pharmaceutical, manufacturing, mining, automotive, aerospace, defense and food and beverage.

Maintenance Repair and Operations (MRO) Market Trends:
The increasing demand for enhanced organizational efficiency across industries is one of the key factors driving the growth of the market. This can also be attributed to the rising adoption of professional services as MRO aids in significantly optimizing supply chain management and process efficiencies. Additionally, the widespread product utilization in the manufacturing industry is favoring the market growth. MRO is utilized to prevent cyclical fluctuations in equipment and monitor the upkeep of industrial equipment, consumables, furniture and plant supplies. Moreover, various technological advancements, such as the integration of connected devices with the Internet of Things (IoT) and predictive maintenance solutions, are providing a thrust to the market growth. In line with this, the increasing product demand for the maintenance of aircraft components and identification of structural damages, defects and dents is positively impacting the market growth. Other factors, including significant growth in the e-commerce industry, along with the implementation of various government initiatives to reduce overall energy consumption and practice lean manufacturing, are anticipated to drive the market toward growth.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global maintenance repair and operations (MRO) market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on provider and MRO type.

Breakup by Provider:

OEM
Aftermarket

Breakup by MRO Type:

Industrial MRO
Electrical MRO
Facility MRO

Breakup by Region:

North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa

Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Adolf Wьrth GmbH & Co. KG, Airgas Inc. (Air Liquide S.A), Applied Industrial Technologies Inc., Cromwell Group Holdings Ltd. (W. W. Grainger Inc.), Electrocomponents PLC, Eriks NV (SHV Holdings), Genuine Parts Company, Graybar Electric Company Inc., Hayley Group Limited (Descours et Cabaud SA), Lawson Products Inc., Rexel and Wesco International Inc.

Key Questions Answered in This Report
1. What was the size of the global maintenance repair and operations (MRO) market in 2022?
2. What is the expected growth rate of the global maintenance repair and operations (MRO) market during 2023-2028?
3. What are the key factors driving the global maintenance repair and operations (MRO) market?
4. What has been the impact of COVID-19 on the global maintenance repair and operations (MRO) market?
5. What is the breakup of the global maintenance repair and operations (MRO) market based on the provider?
6. What is the breakup of the global maintenance repair and operations (MRO) market based on the MRO Type?
7. What are the key regions in the global maintenance repair and operations (MRO) market?
8. Who are the key players/companies in the global maintenance repair and operations (MRO) market?
1 PREFACE

2 SCOPE AND METHODOLOGY

2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
  2.3.1 Primary Sources
  2.3.2 Secondary Sources
2.4 Market Estimation
  2.4.1 Bottom-Up Approach
  2.4.2 Top-Down Approach
2.5 Forecasting Methodology

3 EXECUTIVE SUMMARY

4 INTRODUCTION

4.1 Overview
4.2 Key Industry Trends

5 GLOBAL MAINTENANCE REPAIR AND OPERATIONS (MRO) MARKET

5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Forecast

6 MARKET BREAKUP BY PROVIDER

6.1 OEM
  6.1.1 Market Trends
  6.1.2 Market Forecast
6.2 Aftermarket
  6.2.1 Market Trends
  6.2.2 Market Forecast

7 MARKET BREAKUP BY MRO TYPE

7.1 Industrial MRO
  7.1.1 Market Trends
  7.1.2 Market Forecast
7.2 Electrical MRO
  7.2.1 Market Trends
  7.2.2 Market Forecast
7.3 Facility MRO
  7.3.1 Market Trends
  7.3.2 Market Forecast
7.4 Others
  7.4.1 Market Trends
  7.4.2 Market Forecast

8 MARKET BREAKUP BY REGION

8.1 North America
  8.1.1 United States
    8.1.1.1 Market Trends
    8.1.1.2 Market Forecast
  8.1.2 Canada
    8.1.2.1 Market Trends
    8.1.2.2 Market Forecast
8.2 Asia-Pacific
  8.2.1 China
    8.2.1.1 Market Trends
    8.2.1.2 Market Forecast
  8.2.2 Japan
    8.2.2.1 Market Trends
    8.2.2.2 Market Forecast
  8.2.3 India
    8.2.3.1 Market Trends
    8.2.3.2 Market Forecast
  8.2.4 South Korea
    8.2.4.1 Market Trends
    8.2.4.2 Market Forecast
  8.2.5 Australia
    8.2.5.1 Market Trends
    8.2.5.2 Market Forecast
  8.2.6 Indonesia
    8.2.6.1 Market Trends
    8.2.6.2 Market Forecast
  8.2.7 Others
    8.2.7.1 Market Trends
    8.2.7.2 Market Forecast
8.3 Europe
  8.3.1 Germany
    8.3.1.1 Market Trends
    8.3.1.2 Market Forecast
  8.3.2 France
    8.3.2.1 Market Trends
    8.3.2.2 Market Forecast
  8.3.3 United Kingdom
    8.3.3.1 Market Trends
    8.3.3.2 Market Forecast
  8.3.4 Italy
    8.3.4.1 Market Trends
    8.3.4.2 Market Forecast
  8.3.5 Spain
    8.3.5.1 Market Trends
    8.3.5.2 Market Forecast
  8.3.6 Russia
    8.3.6.1 Market Trends
    8.3.6.2 Market Forecast
  8.3.7 Others
    8.3.7.1 Market Trends
    8.3.7.2 Market Forecast
8.4 Latin America
  8.4.1 Brazil
    8.4.1.1 Market Trends
    8.4.1.2 Market Forecast
  8.4.2 Mexico
    8.4.2.1 Market Trends
    8.4.2.2 Market Forecast
  8.4.3 Others
    8.4.3.1 Market Trends
    8.4.3.2 Market Forecast
8.5 Middle East and Africa
  8.5.1 Market Trends
  8.5.2 Market Breakup by Country
  8.5.3 Market Forecast

9 SWOT ANALYSIS

9.1 Overview
9.2 Strengths
9.3 Weaknesses
9.4 Opportunities
9.5 Threats

10 VALUE CHAIN ANALYSIS

11 PORTERS FIVE FORCES ANALYSIS

11.1 Overview
11.2 Bargaining Power of Buyers
11.3 Bargaining Power of Suppliers
11.4 Degree of Competition
11.5 Threat of New Entrants
11.6 Threat of Substitutes

12 PRICE ANALYSIS

13 COMPETITIVE LANDSCAPE

13.1 Market Structure
13.2 Key Players
13.3 Profiles of Key Players
  13.3.1 Adolf Wьrth GmbH & Co. KG
    13.3.1.1 Company Overview
    13.3.1.2 Product Portfolio
  13.3.2 Airgas Inc. (Air Liquide S.A.)
    13.3.2.1 Company Overview
    13.3.2.2 Product Portfolio
  13.3.3 Applied Industrial Technologies Inc.
    13.3.3.1 Company Overview
    13.3.3.2 Product Portfolio
    13.3.3.3 Financials
    13.3.3.4 SWOT Analysis
  13.3.4 Cromwell Group Holdings Ltd. (W. W. Grainger Inc.)
    13.3.4.1 Company Overview
    13.3.4.2 Product Portfolio
  13.3.5 Electrocomponents PLC
    13.3.5.1 Company Overview
    13.3.5.2 Product Portfolio
    13.3.5.3 Financials
    13.3.5.4 SWOT Analysis
  13.3.6 Eriks NV (SHV Holdings)
    13.3.6.1 Company Overview
    13.3.6.2 Product Portfolio
  13.3.7 Genuine Parts Company
    13.3.7.1 Company Overview
    13.3.7.2 Product Portfolio
    13.3.7.3 Financials
    13.3.7.4 SWOT Analysis
  13.3.8 Graybar Electric Company Inc.
    13.3.8.1 Company Overview
    13.3.8.2 Product Portfolio
    13.3.8.3 SWOT Analysis
  13.3.9 Hayley Group Limited (Descours et Cabaud SA)
    13.3.9.1 Company Overview
    13.3.9.2 Product Portfolio
  13.3.10 Lawson Products Inc.
    13.3.10.1 Company Overview
    13.3.10.2 Product Portfolio
    13.3.10.3 Financials
  13.3.11 Rexel
    13.3.11.1 Company Overview
    13.3.11.2 Product Portfolio
    13.3.11.3 Financials
    13.3.11.4 SWOT Analysis
  13.3.12 Wesco International Inc.
    13.3.12.1 Company Overview
    13.3.12.2 Product Portfolio
    13.3.12.3 Financials
    13.3.12.4 SWOT Analysis

LIST OF TABLES

Table 1: Global: Maintenance Repair and Operations Market: Key Industry Highlights, 2022 and 2028
Table 2: Global: Maintenance Repair and Operations Market Forecast: Breakup by Provider (in Million US$), 2023-2028
Table 3: Global: Maintenance Repair and Operations Market Forecast: Breakup by MRO Type (in Million US$), 2023-2028
Table 4: Global: Maintenance Repair and Operations Market Forecast: Breakup by Region (in Million US$), 2023-2028
Table 5: Global: Maintenance Repair and Operations Market: Competitive Structure
Table 6: Global: Maintenance Repair and Operations Market: Key Players

LIST OF FIGURES

Figure 1: Global: Maintenance Repair and Operations Market: Major Drivers and Challenges
Figure 2: Global: Maintenance Repair and Operations Market: Sales Value (in Billion US$), 2017-2022
Figure 3: Global: Maintenance Repair and Operations Market Forecast: Sales Value (in Billion US$), 2023-2028
Figure 4: Global: Maintenance Repair and Operations Market: Breakup by Provider (in %), 2022
Figure 5: Global: Maintenance Repair and Operations Market: Breakup by MRO Type (in %), 2022
Figure 6: Global: Maintenance Repair and Operations Market: Breakup by Region (in %), 2022
Figure 7: Global: Maintenance Repair and Operations (OEM) Market: Sales Value (in Million US$), 2017 & 2022
Figure 8: Global: Maintenance Repair and Operations (OEM) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 9: Global: Maintenance Repair and Operations (Aftermarket) Market: Sales Value (in Million US$), 2017 & 2022
Figure 10: Global: Maintenance Repair and Operations (Aftermarket) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 11: Global: Maintenance Repair and Operations (Industrial MRO) Market: Sales Value (in Million US$), 2017 & 2022
Figure 12: Global: Maintenance Repair and Operations (Industrial MRO) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 13: Global: Maintenance Repair and Operations (Electrical MRO) Market: Sales Value (in Million US$), 2017 & 2022
Figure 14: Global: Maintenance Repair and Operations (Electrical MRO) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 15: Global: Maintenance Repair and Operations (Facility MRO) Market: Sales Value (in Million US$), 2017 & 2022
Figure 16: Global: Maintenance Repair and Operations (Facility MRO) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 17: Global: Maintenance Repair and Operations (Other MRO Types) Market: Sales Value (in Million US$), 2017 & 2022
Figure 18: Global: Maintenance Repair and Operations (Other MRO Types) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 19: North America: Maintenance Repair and Operations Market: Sales Value (in Million US$), 2017 & 2022
Figure 20: North America: Maintenance Repair and Operations Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 21: United States: Maintenance Repair and Operations Market: Sales Value (in Million US$), 2017 & 2022
Figure 22: United States: Maintenance Repair and Operations Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 23: Canada: Maintenance Repair and Operations Market: Sales Value (in Million US$), 2017 & 2022
Figure 24: Canada: Maintenance Repair and Operations Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 25: Asia-Pacific: Maintenance Repair and Operations Market: Sales Value (in Million US$), 2017 & 2022
Figure 26: Asia-Pacific: Maintenance Repair and Operations Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 27: China: Maintenance Repair and Operations Market: Sales Value (in Million US$), 2017 & 2022
Figure 28: China: Maintenance Repair and Operations Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 29: Japan: Maintenance Repair and Operations Market: Sales Value (in Million US$), 2017 & 2022
Figure 30: Japan: Maintenance Repair and Operations Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 31: India: Maintenance Repair and Operations Market: Sales Value (in Million US$), 2017 & 2022
Figure 32: India: Maintenance Repair and Operations Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 33: South Korea: Maintenance Repair and Operations Market: Sales Value (in Million US$), 2017 & 2022
Figure 34: South Korea: Maintenance Repair and Operations Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 35: Australia: Maintenance Repair and Operations Market: Sales Value (in Million US$), 2017 & 2022
Figure 36: Australia: Maintenance Repair and Operations Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 37: Indonesia: Maintenance Repair and Operations Market: Sales Value (in Million US$), 2017 & 2022
Figure 38: Indonesia: Maintenance Repair and Operations Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 39: Others: Maintenance Repair and Operations Market: Sales Value (in Million US$), 2017 & 2022
Figure 40: Others: Maintenance Repair and Operations Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 41: Europe: Maintenance Repair and Operations Market: Sales Value (in Million US$), 2017 & 2022
Figure 42: Europe: Maintenance Repair and Operations Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 43: Germany: Maintenance Repair and Operations Market: Sales Value (in Million US$), 2017 & 2022
Figure 44: Germany: Maintenance Repair and Operations Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 45: France: Maintenance Repair and Operations Market: Sales Value (in Million US$), 2017 & 2022
Figure 46: France: Maintenance Repair and Operations Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 47: United Kingdom: Maintenance Repair and Operations Market: Sales Value (in Million US$), 2017 & 2022
Figure 48: United Kingdom: Maintenance Repair and Operations Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 49: Italy: Maintenance Repair and Operations Market: Sales Value (in Million US$), 2017 & 2022
Figure 50: Italy: Maintenance Repair and Operations Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 51: Spain: Maintenance Repair and Operations Market: Sales Value (in Million US$), 2017 & 2022
Figure 52: Spain: Maintenance Repair and Operations Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 53: Russia: Maintenance Repair and Operations Market: Sales Value (in Million US$), 2017 & 2022
Figure 54: Russia: Maintenance Repair and Operations Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 55: Others: Maintenance Repair and Operations Market: Sales Value (in Million US$), 2017 & 2022
Figure 56: Others: Maintenance Repair and Operations Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 57: Latin America: Maintenance Repair and Operations Market: Sales Value (in Million US$), 2017 & 2022
Figure 58: Latin America: Maintenance Repair and Operations Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 59: Brazil: Maintenance Repair and Operations Market: Sales Value (in Million US$), 2017 & 2022
Figure 60: Brazil: Maintenance Repair and Operations Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 61: Mexico: Maintenance Repair and Operations Market: Sales Value (in Million US$), 2017 & 2022
Figure 62: Mexico: Maintenance Repair and Operations Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 63: Others: Maintenance Repair and Operations Market: Sales Value (in Million US$), 2017 & 2022
Figure 64: Others: Maintenance Repair and Operations Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 65: Middle East and Africa: Maintenance Repair and Operations Market: Sales Value (in Million US$), 2017 & 2022
Figure 66: Middle East and Africa: Maintenance Repair and Operations Market: Breakup by Country (in %), 2022
Figure 67: Middle East and Africa: Maintenance Repair and Operations Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 68: Global: Maintenance Repair and Operations Industry: SWOT Analysis
Figure 69: Global: Maintenance Repair and Operations Industry: Value Chain Analysis
Figure 70: Global: Maintenance Repair and Operations Industry: Porter's Five Forces Analysis


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