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MRO for the Manufacturing Industry Market Report 2023: Sector to Reach $49.65 Billion by 2030 at a 7.8% CAGR

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Dublin, Jan. 19, 2023 (GLOBE NEWSWIRE) -- The "MRO Market for the Manufacturing Industry by Product, Sector - Global Forecast to 2030" report has been added to ResearchAndMarkets.com's offering.

The research report provides an in-depth analysis of the MRO market for the manufacturing industry in five major geographies and emphasizes on the current market trends, market size, market share, recent developments, and forecasts till 2030. The global MRO market for the manufacturing industry is projected to reach $49.65 billion by 2030, at a CAGR of 7.8% during the forecast period of 2023-2030.

The growth of this market is attributed to the growing need to reduce maintenance costs & unplanned downtimes and the proliferation of digital transformation in MRO processes. In addition, the increasing demand for remote maintenance & repair and the emergence of 5G technology is expected to create market growth opportunities.

This market is segmented based on Product (Plant Facilities, Automation Equipment, Robots, CNC Equipment), Sector (Consumer Products, Food & Beverage, Automotive, Electronics & Semiconductors), and geography (North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa). The study also evaluates industry competitors and analyzes the regional and country-level markets.

Based on product, in 2022, the plant facilities segment accounted for the largest share of the MRO market for the manufacturing industry. The large market share of this segment is attributed to the increasing focus on industry 4.0, leading to more manufacturing facilities and the growing need for efficiency in the supply chain.

Based on sector, in 2022, the consumer products segment accounted for the largest share of the MRO market for the manufacturing industry. The large market share of this segment is attributed to the increasing demand for cost-effective consumer goods manufacturing maintenance services and the growing adoption of predictive maintenance services.

Based on geography, the MRO market for the manufacturing industry is segmented into five major geographies: North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In 2022, Asia-Pacific accounted for the largest share of the MRO market for the manufacturing industry..

Market Dynamics

Drivers

  • Proliferation of Digital Transformation in MRO Processes

  • Growing Need to Reduce Maintenance Costs & Unplanned Downtime

Opportunities

  • Increasing Demand for Remote Maintenance & Repair Systems

  • Emergence of 5G Technology

Challenges

  • Shortage of Skilled Workforce

Trends

  • Digital MRO

Key questions answered in the report:

  • Which are the high-growth market segments in terms of product, end-use industry, and region?

  • What is the historical market size of the MRO market for the manufacturing industry across the globe?

  • What are the market forecasts and estimates for the period 2023-2030?

  • What are the major drivers, restraints, and opportunities in the global MRO market for the manufacturing industry?

  • Who are the major players in the global MRO market for the manufacturing industry, and what are their market shares?

  • Who are the major players in various countries, and what are their market shares?

  • How is the competitive landscape?

  • What are the recent developments in the global MRO market for the manufacturing industry?

  • What are the different strategies adopted by major players in the global MRO market for the manufacturing industry?

  • What are the geographical trends in high-growth countries?

  • Who are the local emerging players in the global MRO market for the manufacturing industry, and how do they compete with the other players?

Key Topics Covered:

1. Introduction

2. Research Methodology

3. Executive Summary

4. Market Insights

5. Impact of COVID-19 on the MRO Market for the Manufacturing Industry

6. MRO Market for the Manufacturing Industry, by Product

7. MRO Market for the Manufacturing Industry, by Sector

8. MRO Market for the Manufacturing Industry, by Geography

9. MRO Market for the Manufacturing Industry-Competitive Landscape

10. Company Profiles (Business Overview, Financial Overview, Product Portfolio, and Strategic Developments)

11. Appendix

Companies Mentioned

  • Siemens AG (Germany)

  • WESCO International Inc. (U.S.)

  • ERIKS N.V. (Netherlands)

  • SDI Inc. (U.S.)

  • ICR Services (U.S.)

  • RS Group PLC (U.K.)

  • Global Electronic Services Inc. (U.S.)

  • Advanced Technology Services Inc. (U.S.)

  • NRTC Alabama Inc. (U.S.)

  • PSI Repair Services Inc. (U.S.)

  • K+S Services (U.S.)

  • OMRON Corporation (Japan)

  • Yokogawa Electric Corporation (Japan)

  • Hayley Group Limited (U.K.)

  • Electronix Services (Ireland)

  • Sika Interplant Systems Limited (India)

  • AMETEK Inc (U.S.)

  • ATLAS COPCO AB (Sweden)

  • SWIFTSHIPS LLC (U.S.).

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

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