The North America maintenance, repair & overhaul distribution market size is expected to reach USD 194.38 billion by 2025 at a 3.1% CAGR during the forecast period, according to a new report by Grand View Research, Inc. Increasing technological advancements in the region, such as smart factories and ranking predictive analytics, are expected to boost product demand over the forecast period.
Manufacturing companies are focused on key performance indicators (KPIs) such as reliability of equipment, end-user complaints, and efficiency analysis of in-house maintenance teams. The aforementioned initiatives aid in achieving operational efficiency of the production plant, along with augmenting demand for MRO distribution in the region.
MRO is responsible for reducing operational cost as well as enhancing the productivity of the plant. This results in agreements by OEMs with MRO distribution channel partners for improving operational efficiency and obtaining high profits. Furthermore, specific solutions offered by MRO distributors to address the needs of end-use industries is expected to drive the market.
Industry participants are engaged in providing high quality, competitively priced products, along with complying with industrial standards for safety. However, improper waste management associated with MRO materials is likely to hamper market growth. Furthermore, large and sluggish movement of inventories of MRO products is expected to restrain its growth.
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Further key findings from the report suggest:
Power transmission-hydraulics accounted for 11.9% of the regional market in 2018 and is estimated to witness significant growth on account of rising investment in the manufacturing sector, coupled with increasing demand for power transmission
Automation products are expected to exhibit a CAGR of 4.6% from 2019 to 2025 on account of technology upgradation and increasing regulations for quality maintenance in the manufacturing sector
Consumption of the product in the food, beverages, and tobacco industry is likely to register a CAGR of 3.7% owing to rising consumer demand for nutritious food, coupled with need for cost saving due to high competition in the industry
Product demand in New England is expected to register a CAGR of 4.4% on account of increasing manufacturing output in the country attributed to rising upgradation and modification in various production facilities
Major players in the industry are focusing on product portfolio expansion as well as investment in distribution channels, to obtain a competitive edge in the market.
Grand View Research has segmented the North America MRO distribution market on the basis of product, end use, and region:
North America MRO Distribution Product Outlook (Revenue, USD Million, 2014 - 2025)
Pipes, Valves & Fitting
Power Transmission - Hydraulics
Power Transmission - Pneumatics
Power Transmission - Electrics
Welding Equipment & Gases
North America MRO Distribution End-use Outlook (Revenue, USD Million, 2014 - 2025)
Food, Beverage, & Tobacco
Wood & Paper
Mining, Oil, & Gas
Metal Processing & Foundry
Rubber, Plastic & Non-Metallic
Electrical & Electronics
North America MRO Distribution Regional Outlook (Revenue, USD Million, 2014 - 2025)
East North Central
West North Central
East South Central
West South Central
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