Europe MRO Distribution Market Size, Share & Trends Analysis Report By Product, By Sourcing/Service Type (Internal, External), By Maintenance Type, By Application, By Distribution Channel, By Country, And Segment Forecasts, 2020 - 2027
New York, March 05, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Europe MRO Distribution Market Size, Share & Trends Analysis Report By Product, By Sourcing/Service Type, By Maintenance Type, By Application, By Distribution Channel, By Country And Segment Forecasts, 2020 - 2027" - https://www.reportlinker.com/p05868751/?utm_source=GNW
The Europe maintenance, repair and operations distribution market size is expected to reach USD 247.1 billion by 2027, registering a CAGR of 2.1%. Increasing investments toward the repair and periodic maintenance of equipment is expected to fuel the market growth.
Major industries in Europe have adopted the concept of integrated maintenance, repair, and operation (MRO) services in order to improve or standardize the quality of equipment and services in critical operations. This trend emerged post-recession period and is expected to continue in the coming years, driving the Europe MRO distribution market.
Emergence of e-commerce platforms for the retailing of products have resulted in higher penetration of maintenance, repair, and operation services operations in the previously untapped industry segments. In addition, major market players have exhibited a growing trend of acquiring low revenue companies to increase market presence.
Major participants in the market are employing various programs that focus on strategic marketing and positioning, pricing, and digital marketing communication to improve their sales and supply chain efficiencies. These programs are expected to contribute to improved sales and growth through enhanced sales processes and standardized sales tools which is expected to benefit the market growth.
Further key findings from the report suggest:
• The machine consumables product segment dominated the Europe MRO distribution market in 2019 on account of increasing focus of end users toward the maintenance and upkeep of critical equipment in order to maintain and enhance their performance and operational life
• The external service segment is anticipated to register a CAGR of 2.3% from 2020 to 2027 as product manufacturers are increasingly opting for contracts with third-party MRO service providers to promote equipment sales
• The preventive/scheduled maintenance segment was valued at USD 122.5 billion in 2019 owing to steps taken to ensure a smooth operational flow
• Machinery and equipment application segment is projected to witness lucrative growth over the forecast period on account of the growing demand from a diverse range of industry verticals including construction, automotive, and metalworking
• The German market was USD 45.3 billion in 2019 owing to the high adoption of preventive and scheduled MRO by manufacturers operating in the country
Read the full report: https://www.reportlinker.com/p05868751/?utm_source=GNW
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