Technology

MRO for Automation Solutions Market to Grow by USD 53.3 Billion (2024-2028) as Outsourcing Operations Boosts Trends Impacted by AI, Reports Technavio

Published

2 years ago

October 21, 2024

NEW YORK, Oct. 21, 2024 /PRNewswire/ — Report on how AI is redefining market landscape- The global maintenance repair operations (MRO) for automation solutions market size is estimated to grow by USD 53.3 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of over 9.38% during the forecast period. Growth in outsourcing of operations is driving market growth, with a trend towards use of analytics for predictive maintenance. However, US-China trade war poses a challenge. Key market players include ABB Ltd., AMETEK Inc., Danaher Corp., Emerson Electric Co., Endress Hauser Group Services AG, FANUC Corp., Festo SE and Co. KG, General Electric Co., Hitachi Ltd., Honeywell International Inc., IMI Plc, Mitsubishi Electric Corp., MKS Instruments Inc., OMRON Corp., Rockwell Automation Inc., Schneider Electric SE, SICK AG, Siemens AG, W.W. Grainger Inc., and Yokogawa Electric Corp..

Key insights into market evolution with AI-powered analysis. Explore trends, segmentation, and growth drivers- View the snapshot of this report

Maintenance Repair Operations (MRO) For Automation Solutions Market Scope

Report Coverage

Details

Base year

2023

Historic period

2018 – 2022

Forecast period

2024-2028

Growth momentum & CAGR

Accelerate at a CAGR of 9.38%

Market growth 2024-2028

USD 53287.9 million

Market structure

Fragmented

YoY growth 2022-2023 (%)

8.65

Regional analysis

APAC, Europe, North America, South America, and Middle East and Africa

Performing market contribution

APAC at 55%

Key countries

China, US, Japan, Germany, and UK

Key companies profiled

ABB Ltd., AMETEK Inc., Danaher Corp., Emerson Electric Co., Endress Hauser Group Services AG, FANUC Corp., Festo SE and Co. KG, General Electric Co., Hitachi Ltd., Honeywell International Inc., IMI Plc, Mitsubishi Electric Corp., MKS Instruments Inc., OMRON Corp., Rockwell Automation Inc., Schneider Electric SE, SICK AG, Siemens AG, W.W. Grainger Inc., and Yokogawa Electric Corp.

Market Driver

Service providers in the Maintenance Repair Operations (MRO) market for automation solutions are utilizing analytics and statistical models in their maintenance tools to enhance the decision-making process and pinpoint errors early on. Siemens, in collaboration with SAP, is constructing a new open cloud platform for industrial end-users. This platform, which leverages SAP’s HANA Cloud Platform for data analysis on an open platform, has gained popularity among end-users. HANA’s technology enables machines and systems to record and analyze vast amounts of data, employing simulation or intelligent pattern recognition for the early identification of potential errors before system or product failure. This predictive maintenance tool offers significant advantages to end-users, including the detection of process deviations, operation optimization, predictive modeling, production forecasting, and cost-benefit analysis. With the development of more such solutions anticipated during the forecast period, this market segment presents substantial growth opportunities for vendors.

The Maintenance, Repair, and Operations (MRO) market for automation solutions is experiencing significant trends in various industries. In process and discrete industries, vaccination drives and sustainability are driving the demand for green MRO practices. The power industry, including energy and power, water and wastewater, oil and gas, and the manufacturing sectors, prioritize minimizing downtime through smart technologies like IoT, big data, and sensors. MRO product suppliers, such as Airgas, E-commerce platforms like GoExpedi, and distributors like Air Works, Wesco, Sonepar, and Rexel, are adapting to these trends. New technologies like 3D printing, smart sensors, and safety standards are essential for a skilled workforce. However, raw material shortages, shipping delays, and economic slowdown pose challenges. Outsourcing strategies and inventory management are crucial for MRO product availability. Pumps, industrial motors, sealants, tapes, lubricants, lab supplies, test equipment, blowers, and Industry 4.0 digitization are key MRO product categories.

Request Sample of our comprehensive report now to stay ahead in the AI-driven market evolution!

Market Challenges

The global automation solutions market for Maintenance, Repair, and Operations (MRO) in the semiconductor and electronics industry is facing challenges due to the US-China trade war. US and Chinese economies, being major players, have resulted in disruptions affecting numerous countries. Tariffs on goods and services, including electronics components, have increased their prices, causing significant cost hikes for businesses. For instance, AudioControl, a US-based company, sources 70% of its components domestically and has incurred over USD200,000 in additional costs due to tariffs. This price increase not only affects the automation solutions but also their MRO, negatively impacting market growth during the forecast period.In the Maintenance, Repair, and Operations (MRO) market for automation solutions, businesses face several challenges. Big data requires advanced analysis tools to optimize inventory and maintenance schedules. New technologies like 3D printing offer opportunities but also bring challenges in terms of raw material shortages and shipping delays. Skilled workforce shortages add to the complexity. Economic slowdowns impact operating expenses. Suppliers like Air Works, Wesco, Sonepar, Rexel, Applied Industrial Technologies, and GoExpedi provide MRO products, but the adoption of smart technologies and Industry 4.0 demands continuous innovation. MRO product categories include pumps, industrial motors, sealants, tapes, lubricants, lab supplies, test equipment, sensors, and safety standards. New technologies like energy-efficient water pumps, industrial robots, blowers, fans, and medical equipment offer energy savings and reduced carbon footprint. However, the availability of semiconductor chips and other raw materials can impact production. Outsourcing strategies can help manage costs, but ensuring compliance with safety standards is crucial. Urbanization and the growth of data centers, sustainable buildings, and green facilities create new opportunities for MRO solutions. Overall, the MRO market for automation solutions requires a proactive approach to address these challenges and stay competitive.

Discover how AI is revolutionizing market trends- Get your access now!

Segment Overview

This maintenance repair operations (mro) for automation solutions market report extensively covers market segmentation by

End-user 1.1 Process industries1.2 Discrete industriesType 2.1 MRO items2.2 ServicesGeography 3.1 APAC3.2 Europe3.3 North America3.4 South America3.5 Middle East and Africa

1.1 Process industries- The process industries, including energy and power, water and wastewater, and oil and gas, are experiencing significant growth during the forecast period. In the power industry, the increasing global demand for electricity, urbanization, and the use of electronic appliances have led to a heightened need for electricity. Renewable energy sources, such as solar and biomass, are gaining popularity due to depleting coal reserves and the need to reduce carbon emissions. This shift towards green energy production is attracting substantial investments, leading to the restructuring of power plants and the establishment of new ones. The water and wastewater industry is also witnessing growth due to the growing demand for freshwater resources and rising concerns over water reuse and recycling. Technologies like desalination and nanotechnology are being utilized to treat wastewater. Increased investments in water and wastewater treatment facilities and the demand for high-quality water from industries such as pharmaceuticals and semiconductors are fostering the demand for automation solutions. The oil and gas industry is also contributing to the demand for automation solutions due to ongoing exploration of new fields and refinery units, as well as expansions of onshore and offshore production activities.

Download a Sample of our comprehensive report today to discover how AI-driven innovations are reshaping competitive dynamics

Research Analysis

The Maintenance Repair Operations (MRO) market for automation solutions is witnessing significant growth, particularly in process industries and discrete industries, as they prioritize automation to enhance productivity and efficiency. The market is fragmented with numerous players, but the focus is shifting towards new technologies such as Internet of Things (IoT) and sensors to optimize maintenance and inventory management. The power industry and energy and power sectors are major consumers of MRO products due to the critical nature of their operations. Green energy production is also driving demand for automation solutions to ensure optimal performance and reduce downtime. However, challenges such as raw material shortages, shipping delays, and economic slowdown are impacting the market. Skilled workforce shortages are also a concern, leading to outsourcing strategies becoming increasingly popular. MRO solutions are essential for maintaining critical equipment such as pumps and ensuring safety standards are met. New technologies are continuously being introduced to improve efficiency and reduce costs, making the market an exciting space to watch.

Market Research Overview

The Maintenance, Repair, and Operations (MRO) market for automation solutions is witnessing significant growth in various industries, including process and discrete industries, as automation becomes increasingly essential for sustainability and efficiency. The market is fragmented, with numerous players offering MRO products and services for sectors such as power, energy and power, water and wastewater, oil and gas, and manufacturing industries. Vaccination drives and the economic slowdown have impacted supply chains, leading to raw material shortages and shipping delays. However, the adoption of new technologies like e-commerce, IoT, big data, 3D printing, and smart technologies is streamlining MRO operations. Green energy production is a growing focus, with the need for energy-efficient technology and a reduced carbon footprint driving demand for MRO products and services. Sustainability initiatives, such as green MRO practices, are also gaining traction. MRO products include a wide range of items, from pumps and industrial motors to sealants, tapes, lubricants, lab supplies, test equipment, sensors, and safety standards. The market is also seeing the integration of Industry 4.0 and digitization, with the use of sensors, automation, and industrial robots becoming more prevalent. Outsourcing strategies are becoming increasingly common, with companies seeking to reduce downtime and operating expenses. The automotive spare parts, semiconductor chips, data centers, urbanization, sustainable buildings, and green facilities sectors are also significant consumers of MRO solutions. Key challenges include the skilled workforce shortage and the need to adapt to new technologies. Companies like Airgas, Air Works, Wesco, Sonepar, Rexel, Applied Industrial Technologies, GoExpedi, and others are leading the way in providing innovative MRO solutions to meet the evolving needs of industries.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

End-userProcess IndustriesDiscrete IndustriesTypeMRO ItemsServicesGeographyAPACEuropeNorth AmericaSouth AmericaMiddle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

View original content to download multimedia:https://www.prnewswire.com/news-releases/mro-for-automation-solutions-market-to-grow-by-usd-53-3-billion-2024-2028-as-outsourcing-operations-boosts-trends-impacted-by-ai-reports-technavio-302281376.html

SOURCE Technavio

Technology

Husqvarna Group’s climate targets validated by the Science Based Targets initiative

Published

38 minutes ago

May 11, 2026

STOCKHOLM, May 11, 2026 /PRNewswire/ — Husqvarna Group’s greenhouse gas emissions reduction targets have been validated by the Science Based Targets initiative (SBTi), a corporate climate action organization that enables companies and financial institutions worldwide to play their part in combating the climate crisis. This confirms alignment of the Group’s greenhouse gas emissions reduction targets with the SBTi Net-Zero Criteria.

The validation covers both Husqvarna Group’s net-zero target and updated near-term target, encompassing greenhouse gas emissions across Scope 1, 2 and 3. According to the validation by the SBTi, Husqvarna AB commits to achieve net-zero greenhouse gas emissions across its value chain by 2050, and to reduce absolute Scope 1, 2 and 3 greenhouse gas emissions by 60.28 percent by 2030 and by 90.0 percent by 2050, from a 2015 base year. This includes direct emissions from the Group’s own operations, indirect emissions from purchased energy, and the most material categories of value-chain emissions, where the majority of Husqvarna Group’s climate impact occurs.

“Having our climate targets validated by the Science Based Targets initiative is an important confirmation that Husqvarna Group’s climate targets are both ambitious and credible under the SBTi’s criteria. Sustainability is a long-standing strategic priority for Husqvarna Group, and this validation provides a clear, science-based pathway for our continued work to reduce emissions across the entire value chain,” says Glen Instone, CEO at Husqvarna Group.

The validated climate targets provide a framework for Husqvarna Group’s continued sustainability work and are implemented as part of the Group’s overall business strategy. The validation also strengthens transparency towards customers, investors and other stakeholders regarding Husqvarna Group’s long-term climate efforts. Further details on the Group’s climate targets, methodology, scope, base year and progress are available in Husqvarna Group’s Annual Report, accessible at www.husqvarnagroup.com.

More information about Husqvarna Group’s validated targets can be found on SBTi’s website, using search word Husqvarna AB.

For additional information, please contact:
Media
Henrik Sjöström, Head of external communication
+46 727 – 15 77 85
press@husqvarnagroup.com

Investors
Emelie Alm, Vice President Investor Relations
+46 705 – 14 64 14
ir@husqvarnagroup.com

Husqvarna Group

Husqvarna Group is a global leader in innovative solutions for managing forests, parks, and gardens, as well as equipment and diamond tools for the construction industry. With an innovative mindset, we are dedicated to delivering high-quality solutions ranging from robotic mowers to chainsaws, watering systems and power cutters, with a strong focus on our customers and future generations.

Founded in the Swedish town Huskvarna in 1689, we have been pioneers in our business for more than three centuries. Today, we are mainly operating under the global Husqvarna and Gardena brands, serving consumers and professionals in over 100 countries through direct sales, dealers, and retailers. Headquartered in Stockholm, Sweden, Husqvarna Group employs approximately 11,900 people in 40 countries and reported net sales of SEK 46.6 billion in 2025. Husqvarna Group is listed on Nasdaq Stockholm.

This information was brought to you by Cision http://news.cision.com

https://news.cision.com/husqvarna-group/r/husqvarna-group-s-climate-targets-validated-by-the-science-based-targets-initiative,c4346217

The following files are available for download:

https://mb.cision.com/Main/996/4346217/4083686.pdf

Husqvarna Group’s climate targets validated by the Science Based Targets initiative

View original content:https://www.prnewswire.com/news-releases/husqvarna-groups-climate-targets-validated-by-the-science-based-targets-initiative-302767983.html

SOURCE Husqvarna Group

Technology

Planning a Group Visit to Medtec Shanghai: A Corporate Buyer’s Guide

Published

38 minutes ago

May 11, 2026

SHANGHAI, May 11, 2026 /PRNewswire/ — Sourcing complex medical device components is rarely a solo job. Building a secure supply chain requires direct input from product engineering, quality control, and executive procurement teams. Sending your entire group to the Medtec China exhibition ensures that all departments align perfectly on crucial manufacturing decisions.

As the premier event for medical device research, development, and manufacturing, this gathering provides the ideal environment for corporate buyers to evaluate global suppliers. Mark your calendar for September 1-3, 2026, at the Shanghai New International Expo Center (Halls N1-N4). You can secure free early bird tickets by registering your team between April 1 and August 30. If you wait until the event begins, on-site registration will cost 100 RMB per person. Register your team today to claim your free passes, explore groundbreaking innovations, and streamline your next major product launch.

The Strategic Advantage of Attending as a Team

When you step into a massive Shanghai medical expo, the sheer scale of the event can easily overwhelm a single buyer. Spanning multiple massive exhibition halls, the floor features thousands of advanced raw materials, heavy machinery displays, and compliance software solutions.

Divide and Conquer the Show Floor

Bringing a corporate group allows you to multiply your sourcing power. A single buyer simply cannot evaluate a new biocompatible polymer supplier while simultaneously watching a live demonstration of robotic assembly arms on the other side of the convention center. By sending a specialized team, you can divide and conquer. While your procurement manager negotiates bulk pricing for extrusion tubing, your lead mechanical engineer can inspect smart factory automation tools in a completely different pavilion.

Cross-Functional Vendor Evaluation

Approving a new manufacturing partner requires multiple distinct perspectives. An engineer must verify mechanical tolerances, a quality control specialist needs to review ISO 13485 certifications, and a buyer has to assess minimum order quantities. When your team evaluates a vendor together at the booth, you can ask all these critical questions simultaneously. This unified approach prevents the endless email chains and internal delays that typically plague international sourcing.

How to Coordinate a Seamless Corporate Visit

Planning a productive overseas trip for multiple stakeholders requires strict organization. If your team arrives without a cohesive plan, you risk duplicating efforts and missing out on key suppliers.

Set Clear Group Sourcing Goals

Before you book any flights or hotels, hold a comprehensive pre-trip planning meeting. Identify the specific bottlenecks currently slowing down your production lines. Create a master list of required components and delegate exact sourcing targets to specific team members.

Define technical requirements: Gather all CAD drawings, material specifications, and regulatory benchmarks.Establish budget limits: Ensure the procurement team knows the exact target price points for raw materials and contract manufacturing services.Identify target exhibitors: Review the official online exhibitor list together and highlight the companies your team absolutely must meet.

Manage Logistics and Registrations Early

Ensure every member of your group registers during the free early bird window to avoid unnecessary on-site fees. When booking travel, secure hotel accommodations as close to the Shanghai New International Expo Center as possible. Minimizing morning transit times keeps your team energized and focused on the highly demanding work of vendor negotiation.

Tips for Maximizing Team Productivity at the Event

Once your group arrives at the exhibition, you must balance individual exploration with coordinated team strategy. Protect your time to secure the highest possible return on your travel investment.

Assign Specific Engineering Pavilions

The exhibition floor groups vendors by their specific engineering capabilities. Leverage this logical layout by assigning your staff to the zones that match their daily expertise:

R&D Engineers: Focus on the advanced materials pavilions, searching for shape-memory alloys, specialized ceramics, and rapid prototyping services.Quality Assurance Experts: Dedicate time to the testing and metrology sectors, evaluating visual inspection cameras and compliance management software.Supply Chain Managers: Target the contract manufacturing and packaging halls to negotiate lead times and sterile delivery options.

Schedule Daily Debriefs

Continuous communication prevents team members from operating in silos. Schedule a mandatory debriefing session at the end of each day, either over dinner or at a quiet coffee shop. Use this time to share findings, compare notes on promising new suppliers, and identify any overlapping interests. If an engineer finds a highly capable components manufacturer, the entire team can plan a joint follow-up meeting at that booth for the following morning to finalize a capability audit.

Prepare Your Team for Manufacturing Success

Attending a major medical device exhibition as a unified corporate group entirely transforms your procurement strategy. It eliminates internal communication barriers, speeds up the vendor vetting process, and helps you build a much more resilient supply chain.

Do not let your competitors outpace your manufacturing capabilities. Review your upcoming project pipelines, assemble your core sourcing team, and secure your group registration for Medtec China 2026. Empower your staff with the tools and contacts they need to secure the best manufacturing partnerships in the global market.

View original content to download multimedia:https://www.prnewswire.com/apac/news-releases/planning-a-group-visit-to-medtec-shanghai-a-corporate-buyers-guide-302767999.html

SOURCE Medtec China

Technology

Share buybacks in Ericsson during the period May 4 – May 8, 2026

Published

38 minutes ago

May 11, 2026

STOCKHOLM, May 11, 2026 /PRNewswire/ — During the period May 4 – May 8, 2026, Telefonaktiebolaget LM Ericsson (publ) (“Ericsson”) (LEI code 549300W9JLPW15XIFM52) repurchased own Class B shares (ISIN: SE0000108656) as follows:

Date

Aggregated daily volume (number of shares)

Weighted average share price per day (SEK)

Total daily transaction value (SEK)

2026-05-04

250,000

108.3303

27,082,575.00

2026-05-05

800,000

110.8867

88,709,360.00

2026-05-06

500,000

111.3745

55,687,250.00

2026-05-07

500,000

110.2140

55,107,000.00

2026-05-08

600,000

109.0358

65,421,480.00

Total

2,650,000

110.1916

292,007,665.00

The share repurchases are a part of the share buyback program of up to SEK 15,000,000,000 which Ericsson announced on April 16, 2026, and which runs between April 23, 2026, and March 31, 2027, at the latest. The Board of Directors intends to propose to the 2027 Annual General Meeting that the repurchased shares, other than those used to fulfil Ericsson’s obligations under its share-related incentive programs, are cancelled.

The share buyback program is executed in accordance with the Regulation (EU) No 596/2014 of the European Parliament and of the Council on market abuse (“MAR”) and the Commission Delegated Regulation (EU) 2016/1052 of 8 March 2016 supplementing MAR (“the Safe Harbour Regulation”).

All acquisitions have been carried out on Nasdaq Stockholm by Goldman Sachs Bank Europe SE on behalf of Ericsson. A full breakdown of the transactions is attached to this announcement.

Following the repurchases above, Ericsson’s holding of treasury stock amounts to 46,763,592 Class B shares. There are in total 3,371,351,735 shares in Ericsson, 261,755,983 shares of Class A and 3,109,595,752 shares of Class B.

NOTES TO EDITORS:

Subscribe to Ericsson press releases
Subscribe to Ericsson blog posts
https://x.com/ericsson
https://www.facebook.com/ericsson
https://www.linkedin.com/company/ericsson

MORE INFORMATION AT:
Ericsson Newsroom
media.relations@ericsson.com (+46 10 719 69 92)
investor.relations@ericsson.com (+46 10 719 00 00)

FOR FURTHER INFORMATION, PLEASE CONTACT:
Contact person
Investors
Daniel Morris, Vice President, Head of Investor Relations
Phone: +44 7386 657217
E-mail: investor.relations@ericsson.com

Lena Häggblom, Director, Investor Relations
Phone: +46 72 593 27 78
E-mail: lena.haggblom@ericsson.com

Alan Ganson, Director, Investor Relations
Phone: +46 70 267 27 30
E-mail: alan.ganson@ericsson.com

Media
Ralf Bagner, Head of Media Relations
Phone: +46761284789
E-mail: ralf.bagner@ericsson.com

ABOUT ERICSSON:
Ericsson’s high-performing, programmable networks provide connectivity for billions of people every day. For 150 years, we’ve been pioneers in creating technology for communication. We offer mobile communication and connectivity solutions for service providers and enterprises. Together with our customers and partners, we make the digital world of tomorrow a reality. www.ericsson.com

This information was brought to you by Cision http://news.cision.com.

https://news.cision.com/ericsson/r/share-buybacks-in-ericsson-during-the-period-may-4—may-8–2026,c4346730

The following files are available for download:

https://mb.cision.com/Main/15448/4346730/4085654.pdf

Share buybacks in Ericsson during the period May 4 – May 8, 2026

https://mb.cision.com/Public/15448/4346730/b58b8bdcbcebf5e9.xlsx

Daily Ericsson Share Buyback Report

View original content:https://www.prnewswire.com/news-releases/share-buybacks-in-ericsson-during-the-period-may-4–may-8-2026-302768000.html

SOURCE Ericsson