Maintenance Repair Operations (MRO) Industry Size Projected ...| MENAFN.COM

Wednesday, 08 February 2023 07:53 GMT

Maintenance Repair Operations (MRO) Industry Size Projected To Deliver Greater Revenues During The Forecast Period 2023-2033


(MENAFN- America News Hour)

The maintenance repair operations industry is expected to grow at a CAGR of 2.13% during the forecast period
– The growing digitization and need for business to be highly efficient are some of the major factors driving the maintenance, repair, and operation (MRO) market.
– Most of the major market players are mainly focusing on their supply chain infrastructure, broad in-stock product offerings, and deep customer relationships to hold a strong position in the market.
– Most of the MRO markets, especially in the developed regions, are highly fragmented. The evolution of e-commerce has increased the availably of spare and reduced the lead times for the spare parts significantly. One such e-Commerce company, Zoro, has had a significant impact on the North American market. The company reported USD 625 million in revenue in 2019.
– Furthermore, the development of smart factories may bring advancement in the MRO sector. For instance, the growth of predictive maintenance, such as the use of sensors and IoT, which allows manufacturing components to be replaced before visible defects appear, is also expected to transform the global MRO industry.
– The spread of COVID – 19 has severely impacted the market growth. Due to the shutdown of factories caused by fear of infection, the supply chain was negatively affected, which resulted in the difficulty of parts procurement by vendors.
Click Here to Download Sample Report


Key Market Trends
Manufacturing Sector Under Industrial MRO to Occupy Significant Market Share

– The pressure to reduce cost and product quality have been the major driving factor for the adoption of industrial MRO services in the manufacturing industry in this region. With manufacturers continuously seeking large profit margins, they aim to maximize return on net assets (RONA).
– The downtime involved in the production process is quite expensive. Investment in MROs is helping manufacturing industries achieve consistency in production and reduce the length of downtime in the production process. For instance, Volkswagen is actively using MRO services for its manufacturing units in China.​
– Manufacturers are optimizing their facilities and production processes to reduce their overall energy consumption due to government regulations. This is being done by manufacturers conducting lifecycle assessments of their products and deploying the required MRO service, to practice lean manufacturing.​
– Manufacturing activities have witnessed exponential growth over the globe, especially in the APAC region. This is because the governments are introducing several programs and policies that encourage manufacturing activity.
Asia-Pacific Expected to Register the Highest Growth
– Asia – Pacific region is slowly seeing an increase in the adoption of professional services and is considered to be a major manufacturing hub for spare parts which are supplied to different countries.
– Moreover, rising standardization of equipment and services in critical manufacturing operations is likely to boost the market growth. The development of advanced manufacturing techniques in the region due to high investment in R&D activities is estimated to fuel market growth.
– Moreover, due to the recent COVID 19 pandemic, the major companies are planning to move their operations outside China to neighboring countries like India and Taiwan. This is expected to drive the growth of the market in the region.
Competitive Landscape
The global maintenance repair and operations market is moderately fragmented owing to the presence of several MRO solution providers globally. The vendors are viewing collaboration and innovation as a path towards gaining maximum market share. They are investing in R&D to utilize it towards product improvisation and the introduction of new products and expanding their reach globally.
– January 2020 – Emerson Bearing Boston, a bearing company catering to the OEM and MRO markets globally, established a pump industry division dedicated to a fast-growing customer base, particularly in the oil and gas market.
– January 2020 – WESCO International Inc., a provider of electrical, industrial, and communications MRO and OEM products, acquired Anixter International to create an electrical and data communications distribution and supply chain services company.
– December 2019 – France-based Sonepar opened a new distribution center with an investment of about EUR 1.1 million, which is expected to support the operations of two group companies in Brazil, namely, Dimensional Centelha and Nortel. ​
Request For Full Report


1 INTRODUCTION
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Growing Demand for Efficiency in Supply Chain
4.2.2 Increasing Focus on Industry 4.0, Leading to More Manufacturing Facilities
4.3 Market Challenges
4.3.1 Spread of COVID-19 to Affect the Supply Chain
4.4 Industry Attractiveness – Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
5.1 By MRO Type
5.1.1 Industrial MRO
5.1.1.1 Market Scope of Industrial MRO
5.1.1.2 Industrial MRO by End-user Industry
5.1.1.2.1 Manufacturing
5.1.1.2.2 Construction
5.1.1.2.3 Other End-user Industries (healthcare, mining, transportation, utilities) (Same end-user industry segmentation is applicable for other two kinds of MROs)
5.1.1.3 Vendor Profiles of Key Distributors
5.1.1.3.1 Wurth Group GmbH
5.1.1.3.2 Airgas, Inc. (Air Liquide S.A.)
5.1.1.3.3 Applied Industrial Technologies, Inc.
5.1.1.3.4 Kaman Industrial Technologies Corporation
5.1.1.3.5 Rubix Limited (IPH-Brammer Group)
5.1.1.3.6 Motion Industries, Inc.(Genuine Parts Company)
5.1.1.4 List of Distributors in Industrial MRO
5.1.2 Electrical MRO
5.1.2.1 Market Scope of Electrical MRO
5.1.2.2 Electrical MRO by End-user Industry
5.1.2.3 Electrical MRO by Region
5.1.2.4 Vendor Profiles of Key Distributors
5.1.2.4.1 WESCO International, Inc.
5.1.2.4.2 Sonepar SA
5.1.2.4.3 Rexel Holdings USA (Rexel SA)
5.1.2.4.4 Graybar Electric Co.
5.1.2.4.5 Consolidated Electrical Distributors, Inc.
5.1.2.4.6 Anixter, Inc.
5.1.2.5 List of Distributors in Electrical MRO
5.1.3 Facility MRO
5.1.3.1 Market Scope of Facility MRO
5.1.3.2 Facility MRO by End-user Industry
5.1.3.3 Facility MRO by Region
5.1.3.4 Vendor Profiles of Key Distributors
5.1.3.4.1 Wolseley Limited (Ferguson Plc)
5.1.3.4.2 W.W. Grainger, Inc.
5.1.3.4.3 The Fastenal Company
5.1.3.4.4 MSC Industrial Direct Co., Inc.
5.1.3.4.5 Lawson Products, Inc.
5.1.3.4.6 Interline Brands, Inc.
5.1.3.5 List of Distributors in Electrical MRO
5.1.4 Other Types
5.2 Geography
5.2.1 North America
5.2.2 Europe
5.2.3 Asia-Pacific
5.2.4 Latin America
5.2.5 Middle East & Africa
6 INVESTMENT ANALYSIS
7 MARKET OPPORTUNITIES AND FUTURE TRENDS

Request For Full Report maintenance repair operations (mro) industry

About SDKI:

The dynamic nature of business environment in the current global economy is raising the need amongst business professionals to update themselves with current situations in the market. To cater such needs, Shibuya Data Count ( SDKI ) provides market research reports to various business professionals across different industry verticals, such as healthcare & pharmaceutical, IT & telecom, chemicals and advanced materials, consumer goods & food, energy & power, manufacturing & construction, industrial automation & equipment and agriculture & allied activities amongst others.

MENAFN18012023004545010068ID1105444539


Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.