Report Overview

2023

Base Year

2018-2023

Historical Year

2024-2032

Forecast Year

Maintenance, Repair, and Operations (MRO) Market Trends

The market is also being driven by the thriving digitalisation and the rising demand for increased efficiency in businesses. The digital revolution in MRO is being driven by the adoption of technologies such as the Internet of Things (IoT), blockchain, artificial intelligence (AI), robotics, AR/VR, digital twins, and 3D printing. These technologies are increasing the efficiency of MRO operations and reducing downtime, which is thereby influencing the maintenance, repair, and operations (MRO) market growth.

 

Moreover, digitalisation is creating a continuous stream of data flowing through the MRO supply chain, enabling better visibility, and predictive maintenance. Digital MRO solutions like Lufthansa Technik's AVIATAR platform are providing global access, faster troubleshooting, improved time management, and reduced costs. Mobile apps are also transforming the MRO sector by improving cycle time and revenue.

 

Maintenance, Repair, and Operations (MRO) Market Report Snapshots

Maintenance, Repair, and Operations (MRO) Market Size

Maintenance, Repair, and Operations (MRO) Market Share

Maintenance, Repair, and Operations (MRO) Market Growth

Maintenance, Repair, and Operations (MRO) Market Trends

Maintenance, Repair, and Operations (MRO) Market Regional Analysis

Maintenance, Repair, and Operations (MRO) Companies

 

*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*

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Key Questions Answered in the Report

In 2023, the maintenance, repair, and operations (MRO) market reached an approximate value of USD 747.61 billion.

The market is expected to grow at a CAGR of 2.4% between 2024 and 2032.

The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to USD 922.70 billion by 2032.

Key drivers of the MRO market include the need to reduce disruptions, anticipate and rectify issues, improve inventory management, enhance safety, and increase productivity. MRO is crucial for cost management, productivity, safety, and overall business.

Key trends aiding market expansion include the adoption of professional services, rising standardisation of equipment and services within critical manufacturing operations and launch of smart industries, which use predictive maintenance, like sensors and IoT.

Regions considered in the market are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

The leading providers in the market are OEM and aftermarket.

The major end-use segments in the market are manufacturing, construction, electrical, facility, mining, aerospace and defence, automotive, food and beverages, pharmaceuticals, chemicals, and oil and gas, among others.

Key players in the market are Air Liquide S.A. (Airgas, Inc.), Ferguson Enterprises, LLC., Rubix Group International Limited, Hayley Group Limited, Genuine Parts Company, Applied Industrial Technologies Inc., W.W. Grainger, Inc., ERIKS N.V, RS Group plc, and Adolf Würth GmbH & Co. KG, among others.

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