Yes, and there's a business model. There are industrial companies that are good at making things, but not so good at making web interfaces for ordering complex products. So there's a niche for an online service. There are lots of things a good online service could do that few industrial companies now offer. Consider:

    * proper cross-checking of compatibility of items ordered
    * generate image of finished product
    * on-line generation of installation drawing/CAD file,
      including mounting holes and electrical connections.     
      Let users play with the options. Huge win for
      designers - "If we add option B, will it fit?"
      This, in fact, is the big win - let users try your
      options and see what works for them.
    * generate manufacturing data in format the seller's
      production system can use
    * provide cross-company integration.  If you need
      something that requires parts from several
      companies, and they're often used together, give
      the user help in getting everybody going in the
      same direction.

Most industrial sites have a big parts list and a "call for details" phone number. Getting all the right pieces together is hard. The automation level in this space is low, except for a few big companies.