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, according to a new report by Grand View Research, Inc. 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.
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Release@ Canada
Maintenance, Repair & Overhaul Distribution Market Report
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
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
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