Europe MRO Distribution Market All Set to Witness Modest Demand: Projected to Grow at a CAGR of 1.7% in the Forecast Period
Published | 23 August 2021
The easy availability of MRO products and skilled labor in Europe has created a large window of opportunity for the development of manufacturing and industrial activity. The rising cost of labor and materials may, however, restrain the growth of the Europe MRO Distribution market....
A recent study conducted by the strategic consulting and market research firm BlueWeave Consulting revealed that the Europe MRO Distribution market was worth USD 195.3 billion in the year 2020. It is estimated to grow at a CAGR of 1.7%, earning revenue of around USD 218.8 billion by the end of 2027. Factors such as industrialization and increasing consumer demand are driving the Europe MRO distribution market. Increasing labor as well as material costs, however, may act as a restraint on market growth.
Emerging E-Commerce Industry Is Estimated to Boost the Europe MRO Distribution Market in The Forecast Period
The Europe MRO distribution market is segmented into direct and indirect, based on the distribution channels. The direct distribution channel holds the largest market share. Direct distribution channel allows the manufacturers or service providers to deliver products directly to the end-users. This is a cost-effective way to deliver the bulk number of products. The direct distribution channel is flourishing at a high rate because of the flourishing e-commerce industry. Additionally, indirect distribution channels also account for a substantial share of the market because end users place a high value on the products sold by authorized dealers.
The Growing Use of MRO Services in Machinery and Equipment Is Projected to Drive the Market Growth Duringthe Forecast Period
In terms of applications, the Europe MRO distribution market is segmented into food, beverage & tobacco, textile, apparel & footwear, wood & paper, mining and oil & gas, basic metals & metal products, rubber, plastic, and non-metallic products, chemicals, pharmaceuticals, electronics, machinery and equipment, electrical equipment, transport equipment, manufacturing, and others. Among these, the machinery and equipment segment accounts for the largest market share because of the high demand for heavy equipment and machinery in the various industries which require regular maintenance. Additionally, the food &beverage industry is also projected to witness substantial growth during the forecast period.
Europe MRO Distribution Market - By Sourcing/Service
Based on sourcing/service, the Europe MRO distribution market is segmented into internal MRO and external MRO. The external MRO segment captures the largest market share and is also projected to witness the highest CAGR during the forecast period. Companies generally prefer outsourcing the responsibility of regular maintenance to external vendors in order to avoid hiring skilled workers in-house, as that would require more attention and increase the cost. Since the companies dealing with advanced machinery and equipment such as aviation, automotive, etc., need maintenance services at regular intervals, the segment is flourishing at a high rate in the Europe MRO distribution market.
Europe MRO Distribution Market –CountryInsights
Geographically, the Europe MRO distribution market is segmented into Germany, France, Russia, Italy, Netherlands, Switzerland, rest of Europe. Among these countries, Germany dominates the market. France is also expected to grow significantly during the forecast period. The demand for MRO distribution services is expected to flourish in this country because of the growing organic and organic product industry along with the pharmaceuticals, fine chemicals, perfumes, and other industries. Furthermore, the presence of hydroelectricity power infrastructure also contributes to the overall market growth.
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Impact of COVID-19 on Europe MRO Distribution Market
The COVID-19 pandemic has had disastrous consequences for MRO distributors in Europe. The COVID-19 outbreak has affected several European countries, including Italy, Germany, and Russia. Therefore, the government of these countries had to impose nationwide lockdowns to check the spread of the deadly virus. Consequently, the production and manufacturing activities were completely impeded, except for the essential goods, resulting in a decline in demand for MRO services. A ban on import and export activities and travel restrictions also impacted the market.
The leading market players in the Europe MRO distribution market are Premier Farnell, Wurth Group, Sonepar, Transfer MultisortElektronik Sp. z.o.o., Weidmüller Interface GmbH & Co. KG, Lapp Group, Lindberg & Lund AS, VALEO SERVICE U.K. LIMITED, Mento AS, Cromwell Group (Holdings) Limited, Ascendum, Neumo-Egmo Spain SL, MCTechnics, Elmbridge Supplies Company Ltd., and other prominent players.
Many industry players invest heavily in adopting new technologies to streamline various stages of the value chain. The industry players also adopt competitive strategies like partnerships, mergers, acquisitions, collaborations, etc., to expand the scope of their services as well as market share.
Don’t miss the business opportunity of the Europe MRO Distribution market. Consult our analysts to gain crucial insights and facilitate your business growth.
The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of the Europe MRO Distribution market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends of the Europe MRO Distribution market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyses the growth drivers, challenges, and competitive dynamics of the market.
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- Europe MRO Distribution Market, By Product (Bearings & Power Transmission, Pipes, Valves, & Fittings, Electrical Items, Packaging Supplies, Machine Consumables), By Sourcing/Service (Internal MRO, External MRO), By Maintenance Type (Preventive/Scheduled maintenance, Corrective maintenance), By Distribution Channel (Direct, Indirect), By Application (Food, beverage & tobacco, Textile, apparel & footwear, Wood & paper, Mining and oil & gas, Basic metals & metal products, Rubber, plastic, and non-metallic products, Chemicals, Pharmaceuticals, Electronics, Machinery and equipment, Electrical equipment, Transport equipment, Manufacturing, Others), By Region (Germany, France, Russia, Italy, Netherlands, Switzerland, Rest of the Europe) Trend Analysis, Competitive Market Share & Forecast, 2017-2027
Publish Date: August 2021
The Europe MRO distribution market is gaining significant traction due to growing industrialization and the surging demand for repair and maintenance services in the manufacturing and production units, along with technological advancements and the use of application software for efficient management.
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