Market Size of United States Maintenance, Repair, And Operations (MRO) Industry
Study Period | 2019 - 2029 |
Base Year For Estimation | 2023 |
Market Size (2024) | USD 91.55 Billion |
Market Size (2029) | USD 99.95 Billion |
CAGR (2024 - 2029) | 1.77 % |
Market Concentration | Low |
Major Players*Disclaimer: Major Players sorted in no particular order |
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USA Maintenance Repair & Operations (MRO) Market Analysis
The United States Maintenance, Repair, And Operations Market size is estimated at USD 91.55 billion in 2024, and is expected to reach USD 99.95 billion by 2029, growing at a CAGR of 1.77% during the forecast period (2024-2029).
MRO, short for maintenance, repair, and operations, encompasses all the activities essential for maintaining a facility and ensuring the smooth operation of the production process without directly engaging in production. This umbrella term covers everything from managing MRO inventory to implementing predictive, preventive, and corrective maintenance strategies. Given their significance, MRO processes play a pivotal role in sustaining factory operations.
- The US MRO market is witnessing a surge in interest due to a heightened focus on internal efficiency, the rise of digitization, and amplified investments in maintenance operations. As companies increasingly recognize the cost-saving potential of MRO, particularly in streamlining processes and enhancing supply chain efficiency, their investments in this market have been on the rise.
- Moreover, the United States is experiencing economic and manufacturing growth, especially owing to the renewed focus of the government on restoring some of the critical industries, thereby further fueling the demand for maintenance and repair services. The advent of Industry 4.0 is also catalyzing advancements in the MRO sector.
- Aging equipment in manufacturing, utility, and other industrial facilities leads to reduced productivity, efficiency, and heightened costs due to increased downtime. While all equipment faces unplanned downtime, older equipment is prone to more frequent planned and unplanned downtimes, with risks escalating as they age.
- Industry 4.0, a product of the ongoing industrial revolution, marks a significant departure from the traditional linear supply chain model. It ushers in an era of interconnected, agile supply operations within manufacturing. This evolution in manufacturing, from the First Industrial Revolution to the current Industry 4.0, is reshaping the sector. Industry 4.0 is not just about upgrading from legacy systems to smart machines; it's about creating digital factories and fostering a network of interconnected enterprises.
- While the industrial MRO market in the United States continues to present lucrative opportunities, distributors grapple with persistent pricing pressures. Many vendors lean heavily on scale and SKU variety, a strategy that doesn't shield them from the threat of commoditization. Vendors in the MRO market also usually focus on ramping up their SKU offerings to attract a broader customer base. However, merely expanding SKU numbers doesn't equate to higher profits. It necessitates forging partnerships with multiple suppliers, often requiring vendors to share profit margins and cost benefits with both suppliers and customers.
USA Maintenance Repair & Operations (MRO) Industry Segmentation
Maintenance, repair, and operations (MRO) items are products and materials purchased by companies that are not directly employed in their manufacturing process. These products are mainly used to keep business operations running. The maintenance, repair, and operations (MRO) include spare parts, equipment, and consumables used by a company to manufacture end products. MRO includes spare parts, equipment, such as pumps and valves, consumables, cleaning supplies, plant upkeep supplies, lubricants, and activities completed to restore or maintain the functioning of the required equipment.
The scope of the study includes the revenues accrued from the said components by service vendors for electrical, industrial, and facility establishments. Further, the study tracks the significant developments, end-user trends, and market forecasts in the United States, which currently occupies around 85% of the total market demand in North America. The study tracks the impact of the COVID-19 outbreak on demand patterns and end-user spending.
The United States maintenance, repair & operations (MRO) market is segmented by industrial MRO (end-user industry [manufacturing, construction, chemicals & petrochemicals, food, beverage & paper processing, others]), electrical MRO (end-user industry [manufacturing (process and non-process), construction, chemicals and petrochemicals, food, beverage and paper processing, other end-user industries]), facility MRO (end-user industry [healthcare and social assistance, manufacturing, construction, other end-user industries]). The report offers market forecasts and size in value (USD) for all the above segments.
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United States Maintenance, Repair, And Operations (MRO) Market Size Summary
The United States Maintenance, Repair, and Operations (MRO) industry is experiencing a notable expansion, driven by a focus on enhancing internal efficiencies and the integration of digital technologies. MRO encompasses a wide range of activities crucial for maintaining facility operations and ensuring production processes run smoothly without direct involvement in production. This sector is becoming increasingly vital as companies recognize the cost-saving benefits of streamlined processes and improved supply chain efficiency. The US market is further bolstered by economic and manufacturing growth, supported by government initiatives aimed at revitalizing critical industries. The transition to Industry 4.0 is also playing a significant role, transforming traditional supply chain models into interconnected, agile operations, which is reshaping the manufacturing landscape.
The MRO market in the United States is characterized by its competitive and fragmented nature, with numerous vendors striving to maintain their market positions through strategies like mergers, acquisitions, and geographic expansions. Key players such as DNOW Inc., Airgas Inc., Ferguson PLC, Motion Industries Inc., and HD Supply Holdings Inc. are actively enhancing their offerings to meet the evolving demands of the industry. The market is also witnessing increased investments in upgrading facilities and adopting advanced technologies, particularly in sectors like food processing, where maintaining robust electrical systems is crucial. These developments are expected to drive demand for MRO services, creating lucrative opportunities for industry participants.
United States Maintenance, Repair, And Operations (MRO) Market Size - Table of Contents
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1. MARKET INSIGHTS
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1.1 Market Overview
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1.2 Industry Attractiveness - Porter's Five Forces Analysis
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1.2.1 Bargaining Power of Suppliers
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1.2.2 Bargaining Power of Buyers
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1.2.3 Threat of New Entrants
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1.2.4 Threat of Substitute Products
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1.2.5 Intensity of Competitive Rivalry
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1.3 Industry Value Chain Analysis
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1.4 Pestle Analysis
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1.5 Major Technological Advancements - Convergence of IoT, 3D Printing, and Machine Vision Systems
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1.6 Assessment of the Impact of Macroeconomic Factors on the MRO Industry
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2. MARKET SEGMENTATION
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2.1 Industrial MRO
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2.1.1 Current Market Scenario
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2.1.2 By End-user Industry
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2.1.2.1 Manufacturing
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2.1.2.2 Construction
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2.1.2.3 Chemicals and Petrochemicals
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2.1.2.4 Food, Beverage and Paper Processing
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2.1.2.5 Others
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2.1.3 Market Outlook
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2.2 Electrical MRO
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2.2.1 Current Market Scenario
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2.2.2 By End-user Industry
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2.2.2.1 Manufacturing (Process and Non-Process)
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2.2.2.2 Construction
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2.2.2.3 Chemicals and Petrochemicals
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2.2.2.4 Food, Beverage and Paper Processing
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2.2.2.5 Other End-user Industries
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2.2.3 Market Outlook
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2.3 Facility MRO
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2.3.1 Current Market Scenario
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2.3.2 By End-user Industry
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2.3.2.1 Healthcare and Social Assistance
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2.3.2.2 Manufacturing
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2.3.2.3 Construction
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2.3.2.4 Other End-user Industries
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2.3.3 Market Outlook
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United States Maintenance, Repair, And Operations (MRO) Market Size FAQs
How big is the United States Maintenance, Repair, And Operations Market?
The United States Maintenance, Repair, And Operations Market size is expected to reach USD 91.55 billion in 2024 and grow at a CAGR of 1.77% to reach USD 99.95 billion by 2029.
What is the current United States Maintenance, Repair, And Operations Market size?
In 2024, the United States Maintenance, Repair, And Operations Market size is expected to reach USD 91.55 billion.