14 February, 2019
The global market for MRO is expected to grow at a steady CAGR of 1.72 percent until 2020, according to Beroe Inc., a procurement intelligence firm. The scope of the MRO market lies in the shale gas processing equipment market, which includes compressors and pumps, heat exchangers, electrical machinery, and measuring and controlling devices.
APAC holds nearly 37 percent of the global MRO market and it is expected to sustain it until 2020. The fragmented MRO market in APAC and the MEA has presented a great opportunity for global integrators and distributors to penetrate the MRO market. Moreover, MRO sourcing in developed regions such as North America and Western Europe showcase increasing buyer maturity and willingness to partner with a supplier.
Beroe, which is based in North Carolina, further stated that procurement experts can access this report on its recently launched market intelligence platform Beroe LiVE: live.beroeinc.com
The key driver for the MRO market globally is e-procurement, which offers a substantial solution to both the buyer and the seller by decreasing the paperwork, transactions, and manpower. Whereas the volatility in oil prices serves as a challenge to MRO buyers in establishing long-term plans and delays their engagement with MRO suppliers.
In developed regions such as North America and Western Europe, new players with IT capability entering into the MRO market providing MRO solutions are proving to be a threat to new entrants. In the emerging markets such as Latin America, Asia, Middle East, and Africa region, the local players are more dominant as they understand the locality and language of the region.
The research methodology adopted for the report included:
As manufacturers and their business practices evolve, the concept of MRO integrated supply is evolving into supply-chain-as-a-service or Enterprise MRO, which takes the needs of the entire organization into account and provides an end-to-end solution. Enterprise MRO can benefit asset-intensive manufacturers that are focused on driving productivity and efficiency through reliability.
The report also includes:
Cost & Pricing Analysis:
Procurement Best Practices:
Upcoming Technology & Innovation
About Beroe Inc.:
Beroe is the world’s leading provider of procurement intelligence and supplier compliance solutions. We provide critical market information and analysis that enables companies to make smart sourcing decisions—leading to lower costs, greater profits and reduced risk. Beroe has been providing these services for more than 13 years and currently works with more than 10,000 companies worldwide, including 400 of the Fortune 500 companies.
To learn more about Beroe Inc, please visit http://www.beroeinc.com
Join us on Aug 20 for a Live Workshop on E-Auction By Jacob Gorm Larsen, Head of Digital Procurement at Maersk Group