Press release
Europe Maintenance, Repair, And Overhaul (MRO) Market To Be Driven By Increasing Need For Development, Maintenance, And Repair Of Industrial Equipment And Services For Different Industries In The Forecast Period Of 2021-2026
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The key highlights of the report include:
Market Overview (2016-2026)
• Forecast CAGR (2021-2026): 1.7%
Almost every industrial sector in Europe was severely impacted by the global crisis of 2008-09. As a result, most industrial sectors have modified their operational operations in the post-recession period in order to increase their rate of investment. Increased spending on MRO services and equipment is one of these activities. Increased MRO investments for maintenance of old and ageing equipment are likely to be a more profitable choice than increased capital investment in new equipment and processes. During the projected years, this is expected to drive the MRO distribution market in the area.
Industry Definition and Major Segments
MRO stands for Maintenance, Repair and Operations or sometimes Maintenance, Repair and Overhaul and refers to the equipment, tools and activities associated with the daily operations of a business.
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The industry can be divided on the basis of product as:
• Bearings and Power Transmission
• Pipes, Valves and Fittings
• Electrical Items
• Packaging Supplies
• Machine Consumables
The industry can be divided based on sourcing/service as:
• Internal MRO
• External MRO
The industry can be divided based on maintenance type as:
• Preventive/Scheduled Maintenance
• Corrective Maintenance
The industry can be broadly categorised on the basis of its end-use segments into:
• Food, Beverage, and Tobacco
• Textile, Apparel, and Footwear
• Wood and Paper
• Mining, Oil, and Gas
• Basic Metals and Metal Products
• Rubber, Plastic, and Non-Metallic Products
• Chemicals
• Pharmaceuticals
• Electronics
• Machinery and Equipment
• Electrical Equipment
• Transport Equipment
• Manufacturing
• Others
The Regions for Europe Maintenance, Repair, and Overhaul market include:
• Germany
• United Kingdom
• Italy
• France
• Russia
• Others
Market Trends
Most European companies have implemented integrated maintenance, repair, and operation service models to improve or standardise the quality of equipment and/or services in a variety of important processes while also lowering costs in others. The trend has risen significantly in the post-recession phase of the regional market, and it is likely to continue to drive the MRO sector over the forecast period. Distributors in Europe still must overcome several common obstacles in order to boost their profitability. Excessive reliance on key suppliers, distributors' inability to meet OEM warranties and specifications, unwillingness to switching suppliers, and internal maintenance departments' fear of risk are all examples of these hurdles. As a result, these constraints are likely to hinder the maintenance, repair, and operations (MRO) industry's growth in Europe over the next five years.
Key Market Players
The major players in the market are Cromwell Group (Holdings) Limited, Wabco Austria GmbH, Elmbridge Supplies Company, Graco BVBA, Plastorgomma Srl, Lindberg & Lund AS, VALEO SERVICE U.K. LIMITED, and Others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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