Dublin, Sept. 27, 2021 (GLOBE NEWSWIRE) -- The "Canada Maintenance, Repair & Overhaul Distribution Market Size, Share & Trends Analysis Report by Product (Power Transmission, Gasket), by End Use (Food, Beverage & Tobacco, Aircraft), and Segment Forecasts, 2020-2028" report has been added to ResearchAndMarkets.com's offering.
The Canada maintenance, repair & overhaul distribution market size is expected to reach USD 19.10 billion by 2028, registering a CAGR of 4.3% from 2020 to 2028
The expanding manufacturing sector in Canada is expected to fuel the growth of the market for maintenance, repair, and overhaul distribution (MRO) over the forecast period.
The growth of the MRO distribution market in Canada is attributed to growth in the manufacturing industries in the country inclusive of food and beverages, aircraft, machinery, transportation, energy and power, electronics, and others for maintenance and repairs of several types of equipment including hoses, gaskets, seals, fasteners, and safety tools.
The adoption of MRO has registered considerable change within the industries, especially with the OEMs considering MRO distribution companies as potential partners to enhance their operational efficiencies and achieve higher profitability. At the same time, the technology and service outsourcing providers have developed specific solutions to address the needs of several end-use industries in Canada.
The major players involved in the MRO products and services distribution in Canada cater to several end-use industries via third-party distributors, annual maintenance contracts, direct sales channels, and e-commerce. In addition, companies tend to collaborate with distributors and retailer companies in different regions for the offering of their services.
Canada Maintenance, Repair & Overhaul Distribution Market Report Highlights
Aircraft maintenance end use segment is likely to ascend at fastest growth from 2020 to 2028 expanding at a CAGR of 9.2% owing to a robust aircraft maintenance service sector in the country
MRO distribution for electrical and electronic end use in Canada accounted for 12% in 2020 and is expected to register a CAGR of over 3.9% from 2020 to 2028
The tools, maintenance, and safety product segment accounted for the revenue of more than USD 2.9 billion in 2020 and is likely to ascend at a notable CAGR in the forthcoming years. Rise in demand for periodic maintenance operations in manufacturing industries in Canada are expected to offer growth prospect
Power transmission product segment accounted for a revenue share of over 16% in 2020. The adoption of MRO products and services in power transmission, helps to lower down the risk for power outage in case of electrical industry, and proper lifting of products using hydraulic equipment in construction, automobile, and metallurgy industries
The COVID-19 outbreak in Canada impacted the manufacturing and service industries in 2020. Moreover, suspension of industrial activities across the country has halted the growth of maintenance, repair and overhaul distribution market
The Hillman Group, Inc.
Eriks North America
Applied Industrial Technologies
Lawson Products, Inc.
MRC Global, Inc.
MSC Industrial Direct Co., Inc.
Motion Industries, Inc.
Applied Industrial Technologies
Gregg Distributors LP
Green Line Hose & Fittings, Ltd.
A.R. Thomson Group
Norwesco Industries Ltd.
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