Published on : Apr 28, 2016
ALBANY, New York, April 28, 2016: The report, titled “Global MRO Market for Automation Solutions 2016-2020,” delves into the growth prospects and technological trends that will mark the progression of the said market during the 2016-2020 period. In addition, market size estimates, which are calculated based on the revenue generated from the sales of MRO services in the past, are presented in the report. The global MRO market for automation solutions will rise at a CAGR of 12.84% from 2016 to 2020, says the report.
The report includes a thorough examination of the top vendor offerings and the competitive hierarchy and how it will change by the end of the forecast period. Furthermore, insights into economic indicators that have a bearing on the MRO automation solutions industry are presented herein. Using validated analytical tools, the report examines the strengths, weaknesses, threats, and opportunities of the market until the end of the forecast period.
According to the report, the need to optimize operations and to manufacture superior-quality products in production units in the least possible time is contributing to the deployment of automation solutions in these facilities. In addition, the need for continual maintenance and repair work and the need to attain high operational efficiency for automated product lines are driving the demand for MRO automation solutions from service providers, OEMs (original equipment manufacturers), and third-party vendors.
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The report offers readers the many reasons for the increasing popularity of MRO solutions for automation of processes in production units. With the shifting preference from using in-house expertise to outsourcing MRO activities, end users are seeking viable solutions for automation of production plants. The growth in outsourcing of operations for automated manufacturing process lines is primarily driving this market. Prior to this, end users spent heavily to train employees to carry out MRO. This, along with technological development and updated training modules for automated solutions, resulted in a large OPEX (operational expenditure). However, with the outsourcing of MRO services, end users can carry out operations efficiently, thereby reducing the overall time to market and ensuring higher volume of production.
The market faces challenges from the limited presence of single service providers that have a multi-vendor product knowledge portfolio. Nevertheless, the emergence of industry 4.0 holds promise for the development of this industry. Industry 4.0 refers to a collective term referring to the confluence of trends and technologies that promise to reshape the manner in which things are made.
The report mentions top vendors that operate in the global MRO automation solutions market, such as ABB, Rockwell Automation Inc., W.W. Grainger Inc., Honeywell International Inc., and Siemens AG. Some other prominent vendors in this industry are Bilfinger, Emerson Electric, Omron, Schneider Electric, WESCO International, Yokogawa Electric, Mitsubishi Electric, Brammer, General Electric, Rexel, Toshiba International, Wood, and Yaskawa.
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