USA Maintenance Repair & Operations Industry Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

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 99.21 billion by 2029, growing at a CAGR of 1.62% during the forecast period (2024-2029).

The United States is one of the severely affected countries in the world by the outbreak of COVID-19. This continues to negatively impact various industries, as demand sare shrinking and several disruptions to supply chain and operational challenges. Due to the pandemic, different small and mid-scale manufacturers either shut down their facilities or reduced production. In terms of large enterprises, almost all facilities are running at reduced capacities due to lower demands. A study by Arc Advisory Group where 56% of the respondents were from North America found that over 40% of the participants increased visibility and intelligence in their facilities and reduced production at some of their plants. Almost 30% were closing manufacturing plants that were located in high-risk areas.

• The growing concern for increasing internal efficiency, growing digitization, and increasing investment in maintenance operations are some of the major factors driving the maintenance, repair, and operation (MRO) market.
• As MRO helps in reducing operational expenditure substantially through process efficiency and optimized supply chain management, an increasing number of end-user companies are investing in the market studied. Furthermore, the overall economic and manufacturing growth continues to drive maintenance and repair demand in developed and developing economies. The evolution of Industry 4.0 is also upgrading the MRO sector.
• Moreover, E-commerce has brought many advancements to the management of the MRO supply chain. The ability to procure spare parts, maintenance materials, and consumables from cost control and spend management to aggregation strategic insights and workflow transparency. Online platforms have streamlined and optimized many purchasing functions. This is expected to be a key focus strategy adopted by various MRO vendors in the country. For instance, Zoro is an online MRO distributor, primarily serving US customers through Zoro.com.
• Furthermore, the development of smart factories may bring advancement in the MRO sector. For instance, the growth of predictive maintenance, such as sensors and IoT, which allows manufacturing components to be replaced before visible defects appear, is also expected to transform the global MRO industry.
• With the growing business propensity toward business analytics, predictive maintenance and push to reduce overall cost and increase profitability have positively influenced the studied market's growth. As the market studied has been witnessing a significantly increasing demand, many of the market players have been expanding their presence and capacity to cater to a large customer base and encasing the opportunity.
• For instance, in January 2020, Emerson Bearing Boston, a bearing company catering to the OEM and MRO markets globally, established a pump industry division dedicated to a fast-growing customer base, particularly in the oil and gas market.

USA Maintenance Repair & Operations (MRO) Market Trends

This section covers the major market trends shaping the US Maintenance, Repair, & Operations (MRO) Market according to our research experts:

Industrial MRO Accounts for the Largest Market Share

USA Maintenance Repair & Operations (MRO) Industry Segmentation

Maintenance, repair, 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 the demand patterns and end-user spending.