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Key Trend Shaping the Maintenance Repair And Operations Market in 2025: A Groundbreaking Advancement Transforming Industrial Maintenance And Operations
maintenance, repair and operations report
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 $825.56 billion in 2029 at a rate of 3.41%. The market is then expected to grow at a CAGR of 3.40% from 2029 and reach $975.76 billion in 2034.
What strategies are key players adopting 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:
• Strategic partnerships to enhance technology, supply chain, and scalability.
• Acquisitions to expand market presence and strengthen regional reach.
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To take advantage of opportunities, The Business Research Company suggests that maintenance, repair, and operations companies enhance offerings:
• E-commerce platforms transforming customer experience and procurement.
• Strategic investments and innovations expanding advanced MRO services.
• Aviation software optimizing MRO operations.
• Cloud-based platforms revolutionizing MRO efficiency and service management.
• AI and IoT enabling predictive maintenance.
• Advanced maintenance technologies and new facilities boosting efficiency.
What Is Maintenance, Repair, And Operations: Market Definition?
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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