MRO Market for the Manufacturing Industry Forecasts $49.65 Billion Market by 2030
Meticulous Research®, a leading global market research company, has published a new report titled, MRO Market for the Manufacturing Industry by Product (Plant Facilities, Automation Equipment, Robots, CNC Equipment), Sector (Consumer Products, Food & Beverage, Automotive, Electronics & Semiconductors) - Global Forecast to 2030. According to the report, the global Maintenance, Repair, and Operations (MRO) market for the manufacturing industry is projected to reach $49.65 billion by 2030, growing at a compound annual growth rate (CAGR) of 7.8% from 2023 to 2030. The growing demand for digital transformation in MRO operations, the need to minimize downtime and enhance organizational efficiency, and the development of smart factories are the primary drivers of this market's growth. However, the shortage of skilled professionals continues to pose challenges to the market. Meanwhile, increasing demand for remote maintenance solutions and the rise of 5G technology offer lucrat...