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Maintenance Repair and Operations (MRO) Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027

Market Overview:

The global maintenance repair and operations (MRO) market reached a value of US$ 626.2 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 747.7 Billion by 2027 exhibiting a CAGR of 2.70% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor.

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, along with forecasts at the global, regional and country level from 2022-2027. 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 Würth 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.

Report Coverage:

Report Features Details
Base Year of the Analysis 2021
    Historical Period 2016-2021
Forecast Period 2022-2027
Units US$ Billion
Segment Coverage Provider, MRO Type, Region
Region Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered Adolf Würth 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.
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 2499
Five User License: US$ 3499
Corporate License: US$ 4499
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

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 Würth 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 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$), 2016-2021
Figure 3: Global: Maintenance Repair and Operations Market Forecast: Sales Value (in Billion US$), 2022-2027
Figure 4: Global: Maintenance Repair and Operations Market: Breakup by Provider (in %), 2021
Figure 5: Global: Maintenance Repair and Operations Market: Breakup by MRO Type (in %), 2021
Figure 6: Global: Maintenance Repair and Operations Market: Breakup by Region (in %), 2021
Figure 7: Global: Maintenance Repair and Operations (OEM) Market: Sales Value (in Million US$), 2016 & 2021
Figure 8: Global: Maintenance Repair and Operations (OEM) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 9: Global: Maintenance Repair and Operations (Aftermarket) Market: Sales Value (in Million US$), 2016 & 2021
Figure 10: Global: Maintenance Repair and Operations (Aftermarket) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 11: Global: Maintenance Repair and Operations (Industrial MRO) Market: Sales Value (in Million US$), 2016 & 2021
Figure 12: Global: Maintenance Repair and Operations (Industrial MRO) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 13: Global: Maintenance Repair and Operations (Electrical MRO) Market: Sales Value (in Million US$), 2016 & 2021
Figure 14: Global: Maintenance Repair and Operations (Electrical MRO) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 15: Global: Maintenance Repair and Operations (Facility MRO) Market: Sales Value (in Million US$), 2016 & 2021
Figure 16: Global: Maintenance Repair and Operations (Facility MRO) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 17: Global: Maintenance Repair and Operations (Other MRO Types) Market: Sales Value (in Million US$), 2016 & 2021
Figure 18: Global: Maintenance Repair and Operations (Other MRO Types) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 19: North America: Maintenance Repair and Operations Market: Sales Value (in Million US$), 2016 & 2021
Figure 20: North America: Maintenance Repair and Operations Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 21: United States: Maintenance Repair and Operations Market: Sales Value (in Million US$), 2016 & 2021
Figure 22: United States: Maintenance Repair and Operations Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 23: Canada: Maintenance Repair and Operations Market: Sales Value (in Million US$), 2016 & 2021
Figure 24: Canada: Maintenance Repair and Operations Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 25: Asia-Pacific: Maintenance Repair and Operations Market: Sales Value (in Million US$), 2016 & 2021
Figure 26: Asia-Pacific: Maintenance Repair and Operations Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 27: China: Maintenance Repair and Operations Market: Sales Value (in Million US$), 2016 & 2021
Figure 28: China: Maintenance Repair and Operations Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 29: Japan: Maintenance Repair and Operations Market: Sales Value (in Million US$), 2016 & 2021
Figure 30: Japan: Maintenance Repair and Operations Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 31: India: Maintenance Repair and Operations Market: Sales Value (in Million US$), 2016 & 2021
Figure 32: India: Maintenance Repair and Operations Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 33: South Korea: Maintenance Repair and Operations Market: Sales Value (in Million US$), 2016 & 2021
Figure 34: South Korea: Maintenance Repair and Operations Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 35: Australia: Maintenance Repair and Operations Market: Sales Value (in Million US$), 2016 & 2021
Figure 36: Australia: Maintenance Repair and Operations Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 37: Indonesia: Maintenance Repair and Operations Market: Sales Value (in Million US$), 2016 & 2021
Figure 38: Indonesia: Maintenance Repair and Operations Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 39: Others: Maintenance Repair and Operations Market: Sales Value (in Million US$), 2016 & 2021
Figure 40: Others: Maintenance Repair and Operations Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 41: Europe: Maintenance Repair and Operations Market: Sales Value (in Million US$), 2016 & 2021
Figure 42: Europe: Maintenance Repair and Operations Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 43: Germany: Maintenance Repair and Operations Market: Sales Value (in Million US$), 2016 & 2021
Figure 44: Germany: Maintenance Repair and Operations Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 45: France: Maintenance Repair and Operations Market: Sales Value (in Million US$), 2016 & 2021
Figure 46: France: Maintenance Repair and Operations Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 47: United Kingdom: Maintenance Repair and Operations Market: Sales Value (in Million US$), 2016 & 2021
Figure 48: United Kingdom: Maintenance Repair and Operations Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 49: Italy: Maintenance Repair and Operations Market: Sales Value (in Million US$), 2016 & 2021
Figure 50: Italy: Maintenance Repair and Operations Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 51: Spain: Maintenance Repair and Operations Market: Sales Value (in Million US$), 2016 & 2021
Figure 52: Spain: Maintenance Repair and Operations Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 53: Russia: Maintenance Repair and Operations Market: Sales Value (in Million US$), 2016 & 2021
Figure 54: Russia: Maintenance Repair and Operations Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 55: Others: Maintenance Repair and Operations Market: Sales Value (in Million US$), 2016 & 2021
Figure 56: Others: Maintenance Repair and Operations Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 57: Latin America: Maintenance Repair and Operations Market: Sales Value (in Million US$), 2016 & 2021
Figure 58: Latin America: Maintenance Repair and Operations Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 59: Brazil: Maintenance Repair and Operations Market: Sales Value (in Million US$), 2016 & 2021
Figure 60: Brazil: Maintenance Repair and Operations Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 61: Mexico: Maintenance Repair and Operations Market: Sales Value (in Million US$), 2016 & 2021
Figure 62: Mexico: Maintenance Repair and Operations Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 63: Others: Maintenance Repair and Operations Market: Sales Value (in Million US$), 2016 & 2021
Figure 64: Others: Maintenance Repair and Operations Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 65: Middle East and Africa: Maintenance Repair and Operations Market: Sales Value (in Million US$), 2016 & 2021
Figure 66: Middle East and Africa: Maintenance Repair and Operations Market: Breakup by Country (in %), 2021
Figure 67: Middle East and Africa: Maintenance Repair and Operations Market Forecast: Sales Value (in Million US$), 2022-2027
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

List of Tables

Table 1: Global: Maintenance Repair and Operations Market: Key Industry Highlights, 2021 and 2027
Table 2: Global: Maintenance Repair and Operations Market Forecast: Breakup by Provider (in Million US$), 2022-2027
Table 3: Global: Maintenance Repair and Operations Market Forecast: Breakup by MRO Type (in Million US$), 2022-2027
Table 4: Global: Maintenance Repair and Operations Market Forecast: Breakup by Region (in Million US$), 2022-2027
Table 5: Global: Maintenance Repair and Operations Market: Competitive Structure
Table 6: Global: Maintenance Repair and Operations Market: Key Players

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Key Questions Answered in This Report

The global maintenance repair and operations (MRO) market was valued at US$ 626.2 Billion in 2021.

We expect the global maintenance repair and operations (MRO) market to exhibit a CAGR of 2.70%
during 2022-2027.

The extensive utilization of maintenance repair and operations process, in improving workflow
management, enhancing employee safety, and minimizing repair frequencies, is currently driving the
global maintenance repair and operations (MRO) market.

The sudden outbreak of the COVID-19 pandemic has led to the growing adoption of maintenance repair
and operations software across several end-use industries, to remotely provide prompt alerts for the
replacement of the organizational components before defects arise.

Based on the provider, the global maintenance repair and operations (MRO) market has been
segmented into OEM and aftermarket. Currently, OEM holds the majority of the total market share.

Based on the MRO Type, the global maintenance repair and operations (MRO) market can be divided
into industrial MRO, electrical MRO, and facility MRO. Among these, industrial MRO represents the
largest market share.

On a regional level, the market has been classified into North America, Asia-Pacific, Europe, Latin
America, and Middle East and Africa, where Europe currently dominates the global market.

Some of the major players in the global maintenance repair and operations (MRO) market include Adolf
Würth 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.

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