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Europe Maintenance, Repair, & Operations (MRO) Market Analysis

The Europe Maintenance, Repair, and Operations Market size is estimated at USD 125.31 billion in 2024, and is expected to reach USD 138.69 billion by 2029, growing at a CAGR of 2.05% during the forecast period (2024-2029).

The maintenance, repair, and overhaul (MRO) market is anticipated to see growth prospects due to the rising demand for repair, maintenance, and service operations in manufacturing and industrial activities, particularly in Norway, Sweden, Germany, and Finland. A wide range of opportunities for developing industrial and manufacturing activities in the area have been established by the commercial availability of MRO goods and skilled labor for services. Additionally, this has increased sales for the major players in the European economies. Further, rising industrial output is anticipated to increase MRO activities in Germany, Italy, France, and the United Kingdom.

• One of Europe's most competitive and significant industrial sectors is manufacturing machinery and equipment. A sizable machinery manufacturing sector creates a great demand for maintenance and repair tools and routine services. Also, Europe is one of the world's top manufacturing hubs for machinery. The domestic demand itself presents tremendous development potential from the perspective of foreign investors. The international industry players can participate in this sector and contribute significantly to its value chain thanks to their competencies in various industrial verticals.
• The European Union's research & innovation (R&I) programs have firmly supported the development of industrial technologies and solutions that enable the European manufacturing industry to take full advantage of cutting-edge technologies. This promotes smart technologies in MRO solutions, further creating opportunities for the United Kingdom country market.
• The UK Government commissioned the 'Made Smarter' review with the aim of the industry, providing recommendations to ensure that the UK will be a significant player in the 4th industrial revolution by 2030. These instances of supporting smart industry from government bodies in the country further boost the MRO market growth.
• Further, firms like Groupe Roux-Jourfier enable companies to incorporate "collaborative robotics" into their plants, perform entirely automatic processes, and work collaboratively alongside human operators to perform more complex tasks. This is particularly essential for the Aerospace industry, where OEMs are always under pressure to deliver products on time and transfer this pressure to suppliers.
• The decreasing industrial production in some potential sectors due to the COVID-19 pandemic impedes the MRO market growth to a certain extent. Due to the outbreak of COVID-19, countries such as Germany's trade outlook became weak due to a decrease in global demand. China is Germany's biggest trading partner, with manufacturers highly dependent on Chinese supply chains and the Chinese demand for "Made in Germany" goods. Due to the slowdown, the market is facing several challenges. Further, as per Insee's statistics, manufacturing output growth slackened to 14.4% from 22.2% in May. Automotive and transport equipment production increased by 39.5%, followed by an 18.9% rise in refined petroleum products and coke manufacture. During the pandemic, the French government announced a EUR 8 billion or USD 8.8 billion aid package to help the automotive manufacturing industry recover from the COVID-19 crisis, which will help create ample opportunities for the MRO players centered on the automotive manufacturing sector.

Europe 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 mostly used to keep business operations running.

Europe Maintenance, Repair, and Operations (MRO) Market is segmented by MRO Type (Industrial MRO, Electrical MRO, Facility MRO) and Country (United Kingdom, Germany, France, Spain). The market sizes and forecasts are provided in terms of value (USD million) for all the above segments.