Global MRO Market Report, And Forecasts 2030Posted by Karthik Pilla on January 18th, 2023 Bharat Book Bureau Provides the Trending Market Research Report on “MRO Market for the Manufacturing Industry by Product (Plant Facilities, Automation Equipment, Robots, CNC Equipment), Sector (Consumer Products, Food & Beverage, Automotive, Electronics & Semiconductors) - Global Forecast to 2030” under the Consumer goods Market Research Report Category. The report offers a collection of superior Market research, Market analysis, competitive intelligence, and Market reports. The research report titled, ‘MRO Market for the Manufacturing Industry by Product (Plant Facilities, Automation Equipment, Robots, CNC Equipment), Sector (Consumer Products, Food & Beverage, Automotive, Electronics & Semiconductors)—Global Forecast to 2030’, 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 .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. 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. However, the Middle East & Africa is expected to witness rapid growth during the forecast period due to the growing number of government initiatives, the advent of Industry 4.0, increasing industrial production, rising adoption of industrial automation, and rising investments in cutting-edge technologies. The global MRO market for the manufacturing industry is consolidated and dominated by a few major players, namely, 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), and SWIFTSHIPS LLC (U.S.). Key questions answered in the report: Scope of the Report:
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