September 2024 – Meticulous Research®, a leading global market research company, has published a comprehensive 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.” The report forecasts the global MRO (Maintenance, Repair, and Overhaul) market for the manufacturing industry to grow to $49.65 billion by 2030, registering a CAGR of 7.8% from 2023 to 2030.
Market Drivers
The report identifies several factors driving the growth of the MRO market for the manufacturing industry, including:
- Digital Transformation: The proliferation of digital technologies in MRO services is revolutionizing the industry, enhancing efficiency, and reducing downtime.
- Minimizing Unplanned Downtime: Increasing emphasis on predictive maintenance to reduce unexpected disruptions is spurring the demand for MRO services.
- Improving Organizational Efficiency: The rising need to streamline maintenance processes across industries is further contributing to market growth.
- Smart Factory Development: Investments in smart manufacturing facilities are creating new opportunities for MRO service providers.
Key Challenges and Opportunities
Despite the promising growth outlook, the market faces challenges, including a shortage of skilled workforce for specialized maintenance tasks. However, emerging trends such as remote maintenance and the introduction of 5G technology are expected to create significant growth opportunities in the coming years.
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https://www.meticulousresearch.com/download-sample-report/cp_id=5437
Market Segmentation
Meticulous Research® has segmented the MRO market for the manufacturing industry into several key categories:
- By Product: Plant facilities, automation equipment, robots, and CNC equipment.
- By Sector: Pharmaceuticals, medical devices, food & beverages, consumer products, electronics & semiconductors, automotive, shipbuilding, aerospace & defense, energy & power, oil & gas, chemicals, metals & mining, and others.
- By Geography: North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.
Regional Insights
In 2022, Asia-Pacific held the largest market share, driven by the increasing adoption of industrial robots and automation systems in countries such as China, Japan, and South Korea. Additionally, significant investments in the semiconductor industry and the growing trend of refurbished gadgets in developing nations contribute to the region’s dominant position. The Middle East & Africa region is projected to experience the fastest growth over the forecast period.
Gain Deeper Insights into the Market: https://www.meticulousresearch.com/product/mro-market-for-the-manufacturing-industry-5437
Competitive Landscape
Key players operating in the global MRO market for the manufacturing industry include 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.), OMRON Corporation (Japan), Yokogawa Electric Corporation (Japan), AMETEK, INC. (U.S.), and others.
Key Questions Answered in the Report:
- Which are the high-growth market segments by product, sector, and geography?
- What are the market forecasts for 2023–2030?
- Who are the major players in the global MRO market for the manufacturing industry?
- What strategies are these players adopting to strengthen their market position?
You can buy the full report here:
https://www.meticulousresearch.com/Checkout/71758247
About Meticulous Research®
Founded in 2010, Meticulous Research® is a leading market research and consulting company delivering high-quality, data-driven insights to organizations across multiple industries. Our research focuses on identifying trends and opportunities that enable businesses to grow and succeed in a dynamic global market.
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