Canada markets close in 41 minutes
  • S&P/TSX

    21,216.93
    +28.74 (+0.14%)
     
  • S&P 500

    4,543.54
    +7.35 (+0.16%)
     
  • DOW

    35,553.80
    -55.54 (-0.16%)
     
  • CAD/USD

    0.8081
    -0.0039 (-0.48%)
     
  • CRUDE OIL

    82.61
    -0.81 (-0.97%)
     
  • BTC-CAD

    78,247.15
    -4,710.26 (-5.68%)
     
  • CMC Crypto 200

    1,497.75
    -36.90 (-2.40%)
     
  • GOLD FUTURES

    1,782.40
    -2.50 (-0.14%)
     
  • RUSSELL 2000

    2,292.96
    +3.19 (+0.14%)
     
  • 10-Yr Bond

    1.6760
    +0.0400 (+2.44%)
     
  • NASDAQ

    15,204.57
    +82.89 (+0.55%)
     
  • VOLATILITY

    15.16
    -0.33 (-2.13%)
     
  • FTSE

    7,190.30
    -32.80 (-0.45%)
     
  • NIKKEI 225

    28,708.58
    -546.97 (-1.87%)
     
  • CAD/EUR

    0.6949
    -0.0016 (-0.23%)
     

Global Maintenance, Repair, and Operations (MRO) Market 2021-2026: Rapid Digitalization and Emergence of IoT Drives Growth, with Market Value of $787 Billion Forecast by 2026 - ResearchAndMarkets.com

·4 min read

DUBLIN, September 20, 2021--(BUSINESS WIRE)--The "Maintenance, Repair, and Operations (MRO) Market 2021-2026 | Size, Share, Growth, Forecast" report has been added to ResearchAndMarkets.com's offering.

The global maintenance, repair, and operations (MRO) market attained a value of USD 685.5 billion in 2020. Aided by rapid digitalisation and the emergence of internet of things (IoT), the market is projected to further grow at a CAGR of 2.3% between 2021 and 2026 to reach a value of USD 787.2 billion by 2026.

MRO, which is abbreviated as maintenance, repair, and operation, is defined as the miscellaneous investment by firms in order to bolster the functioning of its operations and production process. MRO can also be defined as the set of operations and activities that are associated with the upkeep of plant or facility which can include the physical maintenance of the structure of a building, the systems which operate within the facility and the equipment used to carry out various functions in the facility.

Significant amounts of operations take place in a facility or a plant, which require MRO for sustenance. MRO, include the products that are utilised during the production process such as the consumable which are laboratory equipment, cleaning, or office supplies, among others, machinery such as pumps, compressors, or valves, and maintenance tools such as lubricants, repair tools, gaskets, etc, among others. MRO is an integral part in various end-use industries including manufacturing, construction, aerospace, and automotive, among others.

The MRO market is being driven by the technological advancements and increasing production processes in the various end-use industries such as aerospace and defense, manufacturing, construction, and food and beverage, among others. Maintenance and repair are integral aspects of any industry, as it prevents the chances of production of faulty components. The rising investments in the MRO by the major aerospace and defense companies, owing to the reduced operational expenditure through the process of efficiency and optimised supply chain management, is likely to augment the MRO market in the forecast period.

The market will further be aided by the rising demand for incrementing the internal efficiency, growing digitalisation, and increasing investment in the maintenance operations are some of the major factors aiding the market growth in the forecast period. In terms of region, the Asia Pacific accounts for a significant share in the market and is likely to witness a considerable growth in the forecast period, owing to the resurgence of the building and construction industry, post the COVID-19 pandemic. The market in the region will further be aided by the need to bolster the supply chain management in the food and beverage industry, owing to the rising population and thriving travel and tourism industry.

The market report analyses the market based on segmentations such as providers, end-uses, and major regions. The report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the key players in the industry.

Some of the major players in the market explored in the report are:

  • Electrocomponents plc

  • WESCO International, Inc.

  • W.W. Grainger, Inc.

  • Lawson Products, Inc

  • Wolseley Limited

  • ERIKS N.V

Key Topics Covered:

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 Snapshot

6.1 Global

6.2 Regional

7 Industry Opportunities and Challenges

8 Global Maintenance, Repair, and Operations (MRO) Market Analysis

8.1 Key Industry Highlights

8.2 Global Maintenance, Repair, and Operations (MRO) Historical Market (2016-2020)

8.3 Global Maintenance, Repair, and Operations (MRO) Market Forecast (2021-2026)

8.4 Global Maintenance, Repair, and Operations (MRO) Market by Provider

8.5 Global Maintenance, Repair, and Operations (MRO) Market by End Use

8.6 Global Maintenance, Repair, and Operations (MRO) Market by Region

9 Regional Analysis

9.1 North America

9.2 Europe

9.3 Asia Pacific

9.4 Latin America

9.5 Middle East and Africa

10 Market Dynamics

10.1 SWOT Analysis

10.2 Porter's Five Forces Analysis

10.3 EMR's Key Indicators for Demand

10.4 EMR's Key Indicators for Price

11 Value Chain Analysis

12 Competitive Landscape

12.1 Market Structure

12.2 Key Players

12.3 Company Profiles

  • Electrocomponents plc

  • WESCO International, Inc.

  • W.W. Grainger, Inc.

  • Lawson Products, Inc

  • Wolseley Limited

  • ERIKS N.V

13 Industry Events and Developments

For more information about this report visit https://www.researchandmarkets.com/r/2j6gq5

About ResearchAndMarkets.com

ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210920005498/en/

Contacts

ResearchAndMarkets.com
Laura Wood, Senior Press Manager
press@researchandmarkets.com
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900

Our goal is to create a safe and engaging place for users to connect over interests and passions. In order to improve our community experience, we are temporarily suspending article commenting