North America MRO Distribution Industry Overview
The North America MRO distribution market size is expected to reach USD 188.5 Billion by 2030, registering a CAGR of 2.5%, according to a new report by Grand View Research, Inc. increasing product penetration in the manufacturing industry on account of standardization of critical services and equipment is expected to drive the market growth. Moreover, increasing product demand from other end-use industries is also likely to support market growth. The periodic maintenance, repair, and overhaul (MRO) activities help reduce overall costs and enhance the productivity of the industrial operations, which is expected to drive their demand.
North America MRO Distribution Market Segmentation
Grand View Research has segmented the North America maintenance, repair & overhaul distribution market on the basis of product, end-use, and region:
Based on the Product Insights, the market is segmented into Abrasives, Chemicals, Cutting Tools, Fasteners, Hand Tools, Pipes, Valves & Fitting, Power Tools, Power Transmission - Hydraulics, Power Transmission - Pneumatics, Power Transmission - Electrics, Rubber Products, Seal, Welding Equipment & Gases, Automation and Others.
- Hydraulic power transmission led the market for MRO distribution and accounted for more than a 12.0% share of the overall revenue in 2021.
- The electric power transmission segment is expected to witness a significant CAGR of 3.4% in the market for MRO distribution over the forecast period on account of the extensive use of electric components in manufacturing mechanisms to ease the transmission operations.
Based on the End-Use Insights, the market is segmented into Food, Beverage, & Tobacco, Textile, Wood & Paper, Mining, Oil, & Gas, Metal Processing & Foundry, Rubber, Plastic & Non-Metallic, Chemicals, Pharmaceuticals, Electrical & Electronics, Transportation, Construction and Others.
- The chemical manufacturing end-use segment led the market for MRO distribution in 2021 and accounted for a revenue share of more than 18.0%.
- The U.S. has been one of the attractive locations for chemicals manufacturers to operate, with capital spending in the sector surging 21% in 2018 and reaching over USD 44.0 billion, which has benefited the market and the trend is expected to continue over the forecast period.
- The textile industry is expected to generate the least of demands for MRO products from the distributors as compared to the other end-use industries.
- The electrical and electronics segment is expected to register a CAGR of 2.5% in the market for MRO distribution from 2022 to 2030. The rising need for advanced technology equipment in household and commercial applications has compelled the manufacturers to make necessary adoptions in the production processes.
- Rising shale gas operations in the region are further expected to build several facilities across the region, thereby, supporting the component distribution.
Key Companies Profile & Market Share Insights
Major companies compete on the basis of distribution networks, delivery efficiency, and competitive pricing. The market is highly fragmented and is characterized by the presence of a large number of players. The product demand is highly dependent on the growth of the end-use industries and is expected to grow moderately due to the limited growth realized by the application industries.
Some prominent players in the Global North America MRO Distribution market include:
- Hillman Group, Inc.
- Wajax Industrial Components
- FCX Performance
- SBP Holdings
- S. Hughes Co., Inc.
- DGI Supply
- Lawson Products, Inc.
- AWC
- Hisco, Inc.
- Kimball Midwest
- Bisco Industries
- Kaydon Corporation
- BDI
Order a free sample PDF of the North America MRO Distribution Market Intelligence Study, published by Grand View Research.
No comments:
Post a Comment