Maintenance, Repair, And Operations (MRO) News

Recent industry report about Maintenance, Repair, And Operations (MRO) company news, including latest market trends and industry updates in 2024. This sector news is compiled by Mordor Intelligence™ Maintenance, Repair, And Operations (MRO) Market industry experts.

Maintenance, Repair, And Operations (MRO) News

  • January 2023: Applied Industrial Technologies launched the fifth edition of its Applied Maintenance Supply & Solutions Master Product Catalog, which features over 47,000 maintenance products specifically chosen for maintenance, repair, operations, and production (MROP) users. The catalog includes a diverse selection of products ranging from transportation, fasteners, shop supplies, electrical, welding, janitorial, fittings & hoses, paints & chemicals, cutting tools & abrasives, safety, and more.
  • January 2023, MSC Industrial Supply Co. acquired Buckeye Industrial Supply Co. and True-Edge Grinding Inc., two companies specializing in custom tool manufacturing and the distribution of metalworking and maintenance, repair, and operations (MRO) products and services. This acquisition will help MSC Industrial Supply Co. strengthen its position as a prominent multichannel supplier of MRO products and services.
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  • January 2024: ISS AS announced the renewal of the full-service partnership agreement with Nordea in the Nordics. The contract runs for five years and covers full-service deliverables, including cleaning, catering, technical support, security, energy, and asset management, as well as experience working in a work environment like events and employee activities.
  • October 2023: ISS UK and Ireland partnered with the Social Value Portal, the United Kingdom's leading social value measurement organization. This partnership reflects the company's commitment to people, places, and the planet by enabling ISS to measure and describe the social value it creates.
  • April 2024 - LexxPluss announced to invest in the United States, by providing its conveyance systems to U.S. customers. The company also opened a new U.S. demo space to showcase the capabilities of its flexible robotic fleets.
  • March 2024 - ABB announced the release of its first autonomous mobile robot, the Flexley Tug T702, equipped with AI-powered Visual SLAM navigation technology and new AMR Studio software, enabling first-time robot users to easily program and manage. The new features simplify setup and can reduce commissioning time by up to 20 percent. Thus, they pave the way for a workplace in which intelligent robots operate autonomously despite the critical shortage of skilled workers.
  • March 2024 - AFORMIC announced to open of its showroom of autonomous mobile robots (AMRs) for flexible manufacturing and warehousing during MODEX 2024. The intelligent robotics option AFORMIC provides real-time intralogistics management and enables the automation of material transport, reducing operating costs and increasing the efficiency of production and storage processes.
  • September 2024: Schneider Electric, a global player in energy management digital transformation and next-gen automation, inaugurated its new manufacturing plant at Prospace Industrial Park Pvt. Ltd in Kolkata. Spanning 9 acres, the facility represents an investment of INR 140 crores (USD 167 Million). Such expansion in the smart factories may further propel the studied market demand.
  • August 2024: Gil Automation Ltd reported that Siemens offers an extensive portfolio of PLCs to the food and beverage industry to enhance operations, minimize inefficiencies, increase quality standards, and adapt to consumer preferences. By integrating Siemens' automation solutions, such as Programmable Logic Controllers (PLCs) paired with Supervisory Control and Data Acquisition (SCADA) systems into their production lines, manufacturers can achieve greater product consistency and quality. This shows the rising demand for PLCs within the food, beverage, and tobacco sectors.
  • April 2024: Valmet announced its latest offering, the Valmet DNA, a next-generation distributed control system (DCS). This cutting-edge system boasts a fully web-based design bolstered by a new cybersecure architecture. Valmet's package includes control software, hardware, engineering, and analytics tools. The company promises these features will empower its customers to enhance their operations' efficiency, productivity, sustainability, and safety.
  • June 2024 - Rockwell Automation and NVIDIA joined forces to advance the creation of safer and more intelligent industrial AI mobile robots. Their collaboration, which kicked off earlier this year, initially centered on boosting AI's influence in manufacturing. Now, the partnership is expanding its scope to include robotics, with a particular emphasis on leveraging AI to boost the performance and efficiency of autonomous mobile robots (AMRs). Rockwell is rolling out AMRs and production automation solutions to its industrial clientele, aiming to elevate operational efficiency.
  • April 2024 - Viam teamed up with KUKA to enhance the integration and deployment of its software platform with KUKA's robotic arms. This was made possible by a versatile public driver, prominently showcased in the Viam Modular Registry. The partnership combines Viam's cutting-edge machine interoperability, code deployment, and data analytics prowess with KUKA's premier equipment. Consequently, automation specialists and systems integrators are equipped with a powerful tool, enabling them to better serve their clients and sharpen their competitive advantage.
  • June 2024: National Building and Marketing Co. (NBM), based in Saudi Arabia, recently inked a significant deal valued at SAR 350 million (USD 93.33 million) with Al-Fayzia Real Estate Development Co. The contract, specifically for the 'Granada Riyadh Project,' entails NBM overseeing infrastructure and superstructure development. This includes constructing, finishing, and supplying all building materials, managing administrative tasks, and ensuring all services are in place for the project's investment readiness.
  • January 2024: The Kingdom allocated more than USD 186 billion to the Saudi Green Initiative and tremendous resources, time, and effort to tackle climate change. The Public Investment Fund (PIF) is a prime example of using idle assets for national development, focusing on generating returns and stimulating growth. The government has prioritized 13 sectors for profitability to accelerate diversification across several sectors. PIF deployed the most significant fresh capital in 2023, investing over USD 35 billion.
  • March 2024 - Specim revealed its collaboration with ETT, the top Machine Vision solutions provider in Chile. Through the partnership of Specim and ETT, clients in Chile and Peru will benefit from advanced imaging technology, professional assistance, and creative solutions that will enhance their achievements.
  • January 2024 - Living Optics Limited, a trailblazer in computational imaging, introduced its newest release, the Living Optics Camera. This innovative product is designed to combine spectral imaging functionalities with computer vision, enabling developers to delve into and utilize the benefits of Hyperspectral Imaging in their projects. The debut of Living Optics signifies the result of its wide-ranging partnerships across various sectors, including computer vision, agriculture, healthcare, and security. The objective of this launch is to broaden the reach of their state-of-the-art technology to a wider audience.
  • March 2024: ZainTECH, an integrated digital solutions provider, partnered with UEM Edgenta to integrate its digital solutions with UEM Edgenta's expertise in optimizing infrastructure and facilities management processes. ZainTECH showcased its portfolio of digital transformation solutions, reflecting the company's ambition to bolster its presence in Saudi Arabia. This agreement in Saudi Arabia comes with national-level digitalization programs in line with Vision 2030 and the National Investment Strategy.
  • August 2023: The Public Investment Fund (PIF) established the Saudi Facility Management Company (FMTECH), offering utility management, energy management, waste management, housekeeping, security, and landscaping services. FMTECH aims to improve operational efficiency within the local facilities management sector and offer cost-effective solutions to increase properties' lifespan within real estate development projects in Saudi Arabia.
  • February 2023: Robinson Services, one of Northern Ireland's major service providers in the support services sector, partnered with FM Stores Ireland, a company with expertise in cleaning, hygiene, and safety services. This partnership would enable Robinson Services to provide many professional FM soft services in Ireland's commercial sectors.
  • January 2023: Virgin Media O2, a communications and entertainment services supplier, and ISS Ireland expanded and renewed their partnership, in which ISS would provide security, a full range of workplace services, and maintenance of vital technological estate infrastructure in office locations across the Virgin Media O2 network.
  • April 2024 - OGE and Equinor ASA signed a Memorandum of Understanding with the ambition to jointly drive carbon management solutions for the industry, OGE with its planned CO2 transport network, and Equinor as a provider of CCS solutions. To transform the energy system and contribute to net zero, the companies require pipeline-based carbon management solutions as quickly as possible in addition to the H2 core network for supplying the industry with hydrogen.
  • February 2024 - Yokogawa Electric Corporation announced the development of OpreX Carbon Footprint Tracer, a solution in the OpreX Transformation lineup that targets the carbon footprint management needs of companies in the process manufacturing industries. OpreX Carbon Footprint Tracer is a cloud service that calculates CO2 emissions based on measurement data and other types of primary information collected from instrumentation systems, power monitors, and other systems, and a consultation service that aids in the formulation of strategies for calculating and reducing CO2 emissions.
  • March 2024: SERENITY, a provider of innovative environmental, health, and safety (EHS) solutions, launched Serenity Ascend, an EHS management solution that promises to transform the industry. This AI-powered platform is uniquely designed to be a self-registered, ready-to-use tool that addresses the core needs of EHS management, making it an indispensable asset for businesses, especially small- to mid-market companies, aiming to enhance their safety protocols and compliance strategies.
  • December 2023: Enhesa, the key provider of regulatory and sustainability intelligence globally, announced a strategic alliance with VPWhite, a key advisory and digital transformation consultancy specializing in ESG and environmental, health, safety, and quality (EHSQ). The partnership provides Enhesa customers access to VPWhite’s comprehensive services, which comprise the implementation of Enhesa’s unmatched global regulatory content within select EHS software platforms like Enablon, Cority, Intelex, and Benchmark Gensuite.

MRO Industry Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)