Europe MRO Distribution Market Size Worth $222.11 Billion By 2028
The Europe MRO Distribution Market size is expected to reach USD 222.11 billion by 2028, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 1.6% from 2021 to 2028. Some of the key players in this industry are Kayden Corporation, Bodo Moller Chemie GmbH, WABCO. The rise in scheduled maintenance and increasing investments in repair operations are expected to ascend the market growth over the forecast period.
Prominent
European industries have adopted integrated repair, maintenance, and operation
service concepts for improvements in the equipment and services in critical
operations. Many industrial units adopted this change post-recession period and
are likely to continue in the projected time. Therefore, the demand for
Maintenance, Repair, & Overhaul (MRO) distribution is expected to remain
high.
The
untapped markets are benefitted owing to the emergence
of e-commerce platforms in the European region, thus the penetration
of MRO products in the region has escalated. Moreover, the established players
in the region have adopted the strategy of acquiring small-scale players to
enhance the market presence.
Major
players in the regional market are employing several strategies focusing on
digital marketing, pricing, product placement, and communication to improve
supply channels and enhance sales operations. These enhanced sales processes
and standardized sales tools are anticipated to upscale the MRO industry growth
in the upcoming future.
Request a free sample copy or view report summary: Europe MRO
Distribution Market Report
Europe MRO
Distribution Market Report Highlights
- The machine
consumables product segment accounted for the largest share of 30.2% in
2020 on account of the increasing focus of the end-users on the
maintenance and upkeep of critical equipment in order to maintain and
enhance their performance and operational lifetime
- The external MRO
service type segment is anticipated to witness the fastest growth from
2021 to 2028 owing to the increasing contracts to third-party MRO service
providers by the product manufacturers to increase the geographical
operation
- The
preventive/scheduled maintenance type segment accounted for the largest
share of 58.8% in 2020 and is projected to witness significant growth over
the forecast period owing to its rising adoption in order to reduce the
breakdown and maintenance time
- The machinery and
equipment application segment is projected to expand at the fastest CAGR
from 2021 to 2028 on account of the growing demand from a diverse range of
industry verticals, including construction, automotive, and metalworking
- Germany accounted
for the largest share of 21.8% in 2020 owing to the high adoption of
preventive and scheduled MRO among the manufacturers operating in the
country
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
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