This comprehensive MDM 2Q26 Forecast is a guide to the U.S. wholesale distribution economy, providing a historical, current and future snapshot of numerous key economic indicators in one convenient place along with our exclusive sector-specific forecasts for 19 different product categories. Its economic indicator data is updated through May 15.

MDM 1Q26 Forecast Report

This comprehensive MDM 1Q26 Forecast is a guide to the U.S. wholesale distribution economy, providing a historical, current and future snapshot of numerous key economic indicators in one convenient place along with our exclusive sector-specific forecasts for 19 different product categories. This report was freshly updated in late February.

Premium Monthly

MDM May 2026 Premium Monthly

Our May issue is packed with articles that cover the margin pressure gap between large and small distributors; a deep dive into Grainger’s impressive 1Q; parts 2 and 3 of Tom Gale’s data analytics series; updates on DNOW’s MRC Global integration and ERP headaches; our monthly MDM Forecast and M&A Roundup; a Wiring products Market Profile; and more.

Market Insight Reports

MDM 1Q26 M&A Report

See our breakdown of M&A activity by product category, the latest EBITDA trading multiples for 27 publicly traded industrial distributors; our latest Premium articles, which take deep dives into the M&A strategies of two prominent companies; and our detailed recap of dealmaking activity during January-March, which was the busiest three-month stretch since May-July 2024.

MDM 1Q26 MarketPulse Report

MDM’s 1Q26 MarketPulse Report consists of the quarterly results, analysis and commentary from the latest Baird-MDM Industrial Distribution Survey — conducted early April — that explored revenue performance, pricing and business expectations for the current quarter and rest-of-year. It includes a wealth of market-specific data and commentary from survey respondents.

Case Studies

MDM Case Study: Ludwig Meister

Ludwig Meister shows how disciplined sequencing — not flashy tech — drives real innovation. Authored by former MDM CEO and Editor Tom Gale, this case study details how the German distributor built a data-driven, AI-enabled operation by prioritizing internal processes, clean data and execution before transforming sales and customer experience.

MDM Case Study: LINC Systems

This deep dive — authored by MDM’s Tom Gale — traces the strategic components of LINC Systems’ service-first model and growth trajectory, as well as the key inflection points that created the fasteners distributor’s formula for success.

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Economic Trends

MDM Forecast: February 2025 Update

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Mergers & Acquisitions

QXO Says Beacon is Misrepresenting its Valuation to Shareholders

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Market Analysis

Data: Tracking 2 Decades of U.S. Grid Infrastructure Spend

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Market Analysis

U.S. Chip Investment Unlocks Market Potential in Distribution

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Strategy

Behind MSC’s Evolution from Spot-Buy to Mission Critical Distributor

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Building Materials/Construction

QXO Puts Ball in Beacon’s Court for Deal, Provides Communication Timeline

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Tariffs

How Will Trump Tariffs Impact Demand & Margins? Here’s What Distributors Told Us

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Quarterly MDM-Baird Distribution Survey

Research: Distributors’ Top Concerns to Start 2025

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Building Materials/Construction

Beacon May Garner Interest from Others, Including Lowe’s

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Human Resources

Survey: Most Family-Owned Distributors Maintain Confidence in Succession Plans

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Leadership

How Family-Owned Distributors Approach Business Conflict Resolution

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Economic Trends

MDM Forecast: January 2025 Update

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Pricing

Inside MSC Industrial’s Big Pricing Reset

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Mergers & Acquisitions

Analysis: 2024’s Industrial Distribution M&A, and 2025 Expectations

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Technology

Inside the AI Strategies of Turtle and Endries

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Technology

How One Distributor Embraced Cloud Tech to Tackle Unique Industry Challenges

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Economic Trends

MDM Forecast: December Update Offers First Look at 2026

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HVACR

Wholesale Distribution Dominates HVAC Contractor Sales

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Human Resources

Survey: Most Distributors Plan to Mandate a Return to Office

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Data & Analytics

What a Data-Driven Distributor Looks Like

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Companies

2016 Distribution Remodel: How to Build a Better Business

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Digital Commerce

2016 Distribution Remodel: ‘Invest or Die’

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Companies

Arrow’s ‘Super’ Investment in Marketing

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Data & Analytics

Commentary: The 2016 Strategy Playbook

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Management

2016 State of Distribution Inside Sales: Strive to be Proactive

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Economic Trends

MDM Forecast: February 2025 Update

Our overall 2025 industry revenue forecast narrowed from January, dragged down by a downshift for oil & gas. Nevertheless, strong growth appears in store for most verticals. See your sector-specific outlook here.

Mergers & Acquisitions

QXO Says Beacon is Misrepresenting its Valuation to Shareholders

Get the latest on the standoff here, and insight onto where it might be headed.

Market Analysis

Data: Tracking 2 Decades of U.S. Grid Infrastructure Spend

Capital investments in electric infrastructure, including upgrades and renewable energy integration, fueled a double-digit rise in utilities' electricity spending from 2003 to 2023. We break down the figures here.

Market Analysis

U.S. Chip Investment Unlocks Market Potential in Distribution

Backed by U.S. investment in semiconductor fabrication, billions are being injected into large-scale construction projects. Could building materials and MRO distributors benefit? Our Logistics Liaison explores.

Strategy

Behind MSC’s Evolution from Spot-Buy to Mission Critical Distributor

Part 2 of this series covers how the metalworking and MRO supplies distributor’s Mission Critical initiative is bearing fruit by transforming the company into a more digitally capable and agile organization.

Building Materials/Construction

QXO Puts Ball in Beacon’s Court for Deal, Provides Communication Timeline

Along with its time-sensitive proposal, the building materials distribution platform went into great detail giving a rundown of talks with Beacon since they started this past summer.

Tariffs

How Will Trump Tariffs Impact Demand & Margins? Here’s What Distributors Told Us

We analyze the results of our early January survey that polled 350 distributors and manufacturers about their expectations of how tariffs could impact both margins and demand. Along with data, it produced plenty of commentary.

Quarterly MDM-Baird Distribution Survey

Research: Distributors’ Top Concerns to Start 2025

There's no better time to find out what keeps distribution executives up at night than at the start of the year. We analyze more than 250 write-in responses to our early January survey question asking about their top concerns.

Building Materials/Construction

Beacon May Garner Interest from Others, Including Lowe’s

New investment bank analyst commentary suggests QXO will have to increase its current bid for Beacon to fend off alternative suitors, but others say additional offers are unlikely.

Human Resources

Survey: Most Family-Owned Distributors Maintain Confidence in Succession Plans

We surveyed nearly 130 family-owned distributors this past Summer to learn about their priorities and challenges. Here, we analyze the results of our polling about succession planning.

Leadership

How Family-Owned Distributors Approach Business Conflict Resolution

Check out this analysis of MDM survey results, which give a snapshot of how the dynamics of family-owned distribution businesses play into decision-making.

Economic Trends

MDM Forecast: January 2025 Update

The latest MDM Forecast moved more optimistically for the total industry vs. December for both 2025 and 2026. See your sector-specific outlook.

Pricing

Inside MSC Industrial’s Big Pricing Reset

After a challenging 2024, the metalworking and MRO supplies distributor continues to work through a critical web pricing realignment. Part 1 of this MDM Case Study article series examines what caused the issue and how MSC is progressing through this initiative that’s tied to nearly two-thirds of its revenue stream.

Mergers & Acquisitions

Analysis: 2024’s Industrial Distribution M&A, and 2025 Expectations

We break down 2024's dealmaking activity by volume vs. 2023, what the most impactful transactions were, which distributors were frequent headliners and what to expect in 2025.

Technology

Inside the AI Strategies of Turtle and Endries

Through a discussion with the CIO of each company, we get into the weeds of the what, why and how behind the electrical and fastener distributors’ AI journey and the decisions that led to success with the technology.

Technology

How One Distributor Embraced Cloud Tech to Tackle Unique Industry Challenges

One-size-fits-all technology has never sat well in distribution. Here, we share how a flooring distributor prioritized industry specificity when selecting a cloud ERP platform.

Economic Trends

MDM Forecast: December Update Offers First Look at 2026

Along with updated projections for full-year 2024 and 2025, our latest forecast shows 2026 sector-specific expectations.

HVACR

Wholesale Distribution Dominates HVAC Contractor Sales

The average HVAC contractor makes nearly 70% of its purchases through wholesale distribution, according to a HARDI Voice of Contractor survey.

Human Resources

Survey: Most Distributors Plan to Mandate a Return to Office

Of the 3Q24 Baird-MDM Survey respondents who will do away with hybrid schedules, most cited collaboration as a key driver in the decision.

Data & Analytics

What a Data-Driven Distributor Looks Like

From our 2024 SHIFT event, three leading distributors share what it takes to build an effective data analytics team, how they’re putting it to use and the value of leveraging external data for benchmarking company performance.

This category can only be viewed by members. To view this category, sign up by purchasing MDM Premium Subscription (monthly) or MDM Premium Subscription (annual).

Economic Trends

MDM Forecast: February 2025 Update

Mergers & Acquisitions

QXO Says Beacon is Misrepresenting its Valuation to Shareholders

Get the latest on the standoff here, and insight onto where it might be headed.

Market Analysis

Data: Tracking 2 Decades of U.S. Grid Infrastructure Spend

Market Analysis

U.S. Chip Investment Unlocks Market Potential in Distribution

Strategy

Behind MSC’s Evolution from Spot-Buy to Mission Critical Distributor

Building Materials/Construction

QXO Puts Ball in Beacon’s Court for Deal, Provides Communication Timeline

Along with its time-sensitive proposal, the building materials distribution platform went into great detail giving a rundown of talks with Beacon since they started this past summer.

Tariffs

How Will Trump Tariffs Impact Demand & Margins? Here’s What Distributors Told Us

Quarterly MDM-Baird Distribution Survey

Research: Distributors’ Top Concerns to Start 2025

Building Materials/Construction

Beacon May Garner Interest from Others, Including Lowe’s

New investment bank analyst commentary suggests QXO will have to increase its current bid for Beacon to fend off alternative suitors, but others say additional offers are unlikely.

Human Resources

Survey: Most Family-Owned Distributors Maintain Confidence in Succession Plans

We surveyed nearly 130 family-owned distributors this past Summer to learn about their priorities and challenges. Here, we analyze the results of our polling about succession planning.

Leadership

How Family-Owned Distributors Approach Business Conflict Resolution

Check out this analysis of MDM survey results, which give a snapshot of how the dynamics of family-owned distribution businesses play into decision-making.

Economic Trends

MDM Forecast: January 2025 Update

The latest MDM Forecast moved more optimistically for the total industry vs. December for both 2025 and 2026. See your sector-specific outlook.

Pricing

Inside MSC Industrial’s Big Pricing Reset

Mergers & Acquisitions

Analysis: 2024’s Industrial Distribution M&A, and 2025 Expectations

We break down 2024's dealmaking activity by volume vs. 2023, what the most impactful transactions were, which distributors were frequent headliners and what to expect in 2025.

Technology

Inside the AI Strategies of Turtle and Endries

Technology

How One Distributor Embraced Cloud Tech to Tackle Unique Industry Challenges

One-size-fits-all technology has never sat well in distribution. Here, we share how a flooring distributor prioritized industry specificity when selecting a cloud ERP platform.

Economic Trends

MDM Forecast: December Update Offers First Look at 2026

Along with updated projections for full-year 2024 and 2025, our latest forecast shows 2026 sector-specific expectations.

HVACR

Wholesale Distribution Dominates HVAC Contractor Sales

The average HVAC contractor makes nearly 70% of its purchases through wholesale distribution, according to a HARDI Voice of Contractor survey.

Human Resources

Survey: Most Distributors Plan to Mandate a Return to Office

Of the 3Q24 Baird-MDM Survey respondents who will do away with hybrid schedules, most cited collaboration as a key driver in the decision.

Data & Analytics

What a Data-Driven Distributor Looks Like

Investment Banking Directory

Work with a banking partner that knows your business. Get detailed information on investment banks with expertise in the wholesale distribution industry.

Before You Automate: Why Lead Time Accuracy Is the Foundation of Smarter Purchasing

Lead time accuracy has become one of the most critical and overlooked challenges facing…

In Pursuit of Value: Where 400+ Distributors are Investing in AI Today

Nearly every distributor is investing in AI. The question has shifted from “What can…

Payments as a Competitive Advantage

Credit approval and payment workflows remain a persistent source of friction for many distributors,…

AI Pricing Agents

Pricing is no longer a periodic exercise for distributors—it is a continuous challenge shaped…

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Large Distributors are Gaining Pricing Power 6X Faster than You. Here’s the Data

May M&A Roundup: Ferguson Adds a Half Dozen & Rexel Inks Midwest Boost

Vendor Costs are Eating Your Margin. Your Bigger Competitors Don’t Have that Problem

Research: Competitive Pressure in Distribution Persists, Intensifies Driven by Scale

MDM Forecast: May Update

Market Analytics, Pt. 3: From Insight to Intervention – Activating the Growth Engine

Graybar’s Mazzarella on AI, Advocacy and Distribution’s Human Advantage

QXO Maps Out Post-Deal Playbook as it Integrates Beacon, Kodiak and Adds TopBuild

DNOW Says MRC ERP System Has Stabilized as Optimization Work Continues

Deep Dive: Inside Grainger’s Best Quarter in 3 Years

ECONOMIC OUTLOOK REPORTS

MDM 2Q26 Forecast Report

MDM 1Q26 Forecast Report

Premium Monthly

MDM May 2026 Premium Monthly

Market Insight Reports

MDM 1Q26 M&A Report

MDM 1Q26 MarketPulse Report

Case Studies

MDM Case Study: Ludwig Meister

MDM Case Study: LINC Systems

Investment Banking Directory

Before You Automate: Why Lead Time Accuracy Is the Foundation of Smarter Purchasing

In Pursuit of Value: Where 400+ Distributors are Investing in AI Today

Payments as a Competitive Advantage

AI Pricing Agents

Market Prospector

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