The Global MRO Distribution Market Size accounted for USD 637.1 Billion in 2021 and is projected to achieve a market size of USD 796.2 Billion by 2030 rising at a CAGR of 2.5% from 2022 to 2030. The increasing demand for service operations in the manufacturing facilities is the primary factor driving the maintenance, repair, and overhaul distribution market value. Additionally, growing adoption of maintenance, repair, and overhaul in manufacturing sector is a popular MRO distribution market trend that is bolstering the industry growth.
MRO Distribution Market Report Statistics
Maintenance, repair, and operating supply (MRO) refers to the maintenance, upkeep, and upgrade supplies that are needed by companies that manufacture or distribute products. These are the supplies utilized in the production process and are not the direct part of the end product themselves.
Global MRO Distribution Market Dynamics
MRO Distribution Market Report Coverage
|Market||MRO Distribution Market|
|MRO Distribution Market Size 2021||USD 637.1 Billion|
|MRO Distribution Market Forecast 2030||USD 796.2 Billion|
|MRO Distribution Market CAGR During 2022 - 2030||2.5%|
|MRO Distribution Market Analysis Period||2018 - 2030|
|MRO Distribution Market Base Year||2021|
|MRO Distribution Market Forecast Data||2022 - 2030|
|Segments Covered||By Order Type, By Application, And By Geography
|Regional Scope||North America, Europe, Asia Pacific, Latin America, and Middle East & Africa|
|Key Companies Profiled||ABB Group, Ascendum, Cromwell Group, Graco, Inc., Lindberg & Lund AS, Mento AS, Rohde & Schwarz, Schneider Electric, Valeo Services UK Ltd, and WABCO.|
||Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis|
MRO Distribution Market Dynamics
The rising concern for increasing internal efficiency, ongoing digitalization, and simultaneously increasing investment in maintenance operations by end-use companies are some of the factors driving the market growth. The benefit associated with MRO includes a reduction in operational expenditure, through process efficiency and optimized supply chain management which is another factor increasing demand among end-user companies. In turn, many market players are expanding their presence and capacity to cater to expanding customer base across the globe. The accelerating adoption of smart technologies in manufacturing environmental companies supports the development of mobile apps to ensure overall management by enabling the real-time monitoring and full traceability of components and smart devices.
MRO Distribution Market Segmentation
The worldwide maintenance, repair, and overhaul (MRO) distribution market is split based on order type, application, and geography.
MRO Distribution Market By Order Type
According to our MRO distribution industry analysis, machine consumables accounted for a significant market share in 2021. The exceeding capacities of machines and over usage with respect to machines' abilities are the leading factors that are propelling the segmental growth. However, the electrical items sub-segment is anticipated to witness a substantial growth rate from 2022 to 2030. The rising digitalization and increasing implementation of automation in various end-use industries will fuel the segmental demand in the coming years.
MRO Distribution Market By Application
As per the MRO distribution market forecast, chemical industries occupied a considerable market share from 2022 to 2030. The high share in the industry is credited to the increasing chemical industries across the world. The complex functions of machines required to process chemicals and increasing safety concerns among chemical industries are the two big factors that will spur the demand of the chemical sector. On the other hand, the pharmaceutical sub-segment is likely to achieve a quick growth rate from 2022 to 2030. The advent of the COVID-19 pandemic and the rising prevalence of chronic disorders have encouraged pharma leaders to either establish new facilities or upgrade their existing fleet of machinery used in manufacturing pharmaceuticals.
MRO Distribution Market Regional Outlook
The Middle East & Africa (MEA)
MRO Distribution Market Regional Analysis
Europe accounted for the maximum revenue share in 2021
In 2021, Europe led the market with maximum revenue share owing to the commercial availability of the MRO products and skilled workforce for services across the major economies of the region. The growing demand for maintenance, repair, and service operations in manufacturing and industrial activities across the major countries including Norway, Sweden, Germany, and Finland is creating a wide scope for the development of industrial and manufacturing activities in Europe. Some of the industry verticals in Europe have adopted integrated service concepts, particularly to improvise the quality of service and equipment that have major contribution or usage in critical operations. This concept has also helped the respective industries to reduce their cost of maintenance and repair.
Furthermore, the region is followed by North America in the revenue share (%), where the US dominated the regional market value. The various initiatives led by manufacturers to attain optimum efficiency as well as to eliminate the downtime are supporting the regional market value. Maintenance, repair & overhaul (MRO) distribution is considered as one of the critical components of the industry to strengthen a company’s business, in terms of production volumes, and meet the desired demand.
Asia Pacific is anticipated to exhibit fastest growth over the forecast period from 2022 to 2030
Asia Pacific is estimated to experience the fastest growth over the forecast period from 2022 to 2030 with a major revenue share (%). The major economies of the region including China, India, Singapore, and Japan are the major revenue and growth contributors. Significant growth is expected from the developing economies of the region due to improving manufacturing, industrialization, automation, and digitization sectors. The increasing growth in the manufacturing sector bolsters the requirement for maintenance in order to keep equipment and process running smoothly is another factor boosting the regional market value.
MRO Distribution Market Players
Some of the key players in the market are ABB Group, Ascendum, Cromwell Group, Graco, Inc., Lindberg & Lund AS, Mento AS, Rohde & Schwarz, Schneider Electric, Valeo Services UK Ltd, and WABCO. The major players are continuously making efforts the development of advance solutions to treat the end user more effectively particularly for cutting down their maintenance costs associated with the supply chain and repair.
The market size of MRO distribution market in 2021 was accounted to be USD 637.1 Billion.
The projected CAGR of MRO distribution market during the analysis period of 2022 to 2030 is 2.5%.
The prominent players of the global MRO distribution market are ABB Group, Ascendum, Cromwell Group, Graco, Inc., Lindberg & Lund AS, Mento AS, Rohde & Schwarz, Schneider Electric, Valeo Services UK Ltd, and WABCO.
Europe held the dominating MRO Distribution during the analysis period of 2022 to 2030.
Asia-Pacific region exhibited fastest growing CAGR for MRO distribution during the analysis period of 2022 to 2030.
Growing number of manufacturing facilities, rising concern for increasing internal efficiency, and increasing demand for machine maintenance and service operations drives the growth of global MRO distribution market.
Based on application, chemicals segment is expected to hold the maximum share MRO distribution market.