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Top Growth Driver in the Maintenance, Repair, And Operations Market 2025: Rising Infrastructure Development For Accelerated Growth In The Market
Maintenance, Repair, And Operations Market
The global maintenance, repair and operations market reached a value of nearly $698.04 billion in 2024, having grown at a compound annual growth rate (CAGR) of 1.87% since 2019. The market is expected to grow from $698.04 billion in 2024 to $824.45 billion in 2029 at a rate of 3.38%. The market is then expected to grow at a CAGR of 3.35% from 2029 and reach $972.16 billion in 2034.
What strategies are being adopted by key players in the maintenance, repair and operations market?
The key players in the market are adopting extensive strategies in the maintenance, repair and operations market such as:
• Enhancing operational capabilities through strategic partnerships.
• Enhancing geographical footprint across the globe through strategic acquisitions.
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To take advantage of opportunities, The Business Research Company suggests that maintenance, repair and operations companies enhance offerings:
• Development of e-commerce platforms transforming customer experience and procurement processes.
• Strategic investments and innovations for expansion of advanced MRO services.
• Leveraging aviation software to transform MRO operations.
• Launch of cloud-based platforms revolutionizing MRO efficiency and service management.
• Leveraging artificial intelligence (AI) and internet of things (IoT) for predictive maintenance.
• Advancements in maintenance technologies and new facilities driving efficiency in aviation.
What Is Maintenance, Repair And Operations: Market Overview?
Maintenance, Repair and Operations (MRO) encompasses the processes, services and materials involved in ensuring the continued functionality, safety and efficiency of equipment, infrastructure and facilities. MRO is integral to operations across various industries, supporting the upkeep of machinery, electrical systems and physical environments.
MRO is utilized by businesses and organizations in diverse sectors, including manufacturing plants, construction sites, commercial buildings and specialized industries like aerospace and defense. Its uses range from routine maintenance to emergency repairs, ensuring equipment reliability and operational continuity. MRO products and services are often complementary to operational technologies and substitute certain capital expenditures by extending the lifespan of existing assets.
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Who Are The Major Companies Operating In The Global maintenance, repair and operations Market?
The top ten competitors in the market made up to 12.77% of the total market in 2023. W. W. Grainger Inc was the largest competitor with a 1.96% share of the market, followed by:
• Sonepar SA
• Daikin Industries Ltd
• Lawson Inc
• Genuine Parts Company
• Air Liquide SA
• WESCO International Inc
• Ferguson Enterprises Inc
• Adolf Würth GmbH & Co. KG (Wurth Group GmbH)
• Lufthansa Technik AG
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