The Maintenance, Repair and Operations (MRO) Market size is expected to grow from USD 421.37 billion in 2023 to USD 471.65 billion by 2028, at a CAGR of 2.28% during the forecast period (2023-2028).
The MRO market comprises several global and regional players, such as Wurth Group GmbH, Airgas Inc. (Air Liquide SA), Applied Industrial Technologies Inc., and MSC Industrial Direct Co. Inc. These players are competing fiercely in a highly competitive market. Vendors in the market are adopting key competitive strategies such as acquisitions, partnerships with industry participants, and new product rollouts.
In March 2023, Sonepar France announced the acquisition of a majority stake in Alliantz, a privately-owned distributor of photovoltaics and energy efficiency solutions. This acquisition will enable the company to rapidly leverage its distribution network and strengthen its technical capabilities to better serve electrical and specialized solar installers.
In January 2023, MSC Industrial Supply Co. acquired Buckeye Industrial Supply Co. and True-Edge Grinding Inc., two companies that specialize in custom tool manufacturing and the distribution of metalworking and maintenance, repair, and operations (MRO) products and services. This acquisition will help MSC Industrial Supply Co. strengthen its position as a prominent multichannel supplier of MRO products and services.
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