Canada Metal Fabrication Equipment Market Size

Statistics for the 2023 & 2024 Canada Metal Fabrication Equipment market size, created by Mordor Intelligence™ Industry Reports. Canada Metal Fabrication Equipment size report includes a market forecast to 2029 and historical overview. Get a sample of this industry size analysis as a free report PDF download.

Market Size of Canada Metal Fabrication Equipment Industry

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Canada Metal Fabrication Equipment Market Summary
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Study Period 2019 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2019 - 2022
CAGR > 6.00 %
Market Concentration Low

Major Players

Canada Metal Fabrication Equipment Market Major Players

*Disclaimer: Major Players sorted in no particular order

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Canada Metal Fabrication Equipment Market Analysis

Canada's metal fabrication equipment market is expected to witness a CAGR of more than 6% through the forecast period.

  • The market for metal fabrication equipment was adversely affected by the outbreak of the COVID-19 pandemic. The supply chain for raw materials across borders was hampered by the implementation of several rules, such as complete lockdown, social distance norms, and the ban on imports and exports. However, the demand for various healthcare equipment, beds, and other products compelled governments to allow the production of these products with a restricted labor workforce, which supported the demand for metal fabrication equipment in the market. However, as things got back on track and governments withdrew restrictions from the manufacturing units, the need for metal fabrication equipment is expected to increase over the next few years.
  • The Canadian metal fabrication equipment industry is expected to grow significantly, primarily driven by the development of the construction and manufacturing sectors. Canada has been continuously acting as a significant player in enhancing the demand for automobiles, which further supported the growth of metal-forming equipment. With an increasing number of industries concentrated in Canada, there has been a high demand for steel fabrication. This may certainly propel the demand for metal fabrication equipment in the coming years. Its reviving economic growth is also helping boost demand in this sector.
  • However, an increase in raw material prices and rising labor costs are anticipated to hinder the growth of the market. Another major market restraint is the chance of mechanical failures. Any kind of machine, equipment, or tool used across the manufacturing units has a high chance of mechanical as well as technical failure. To obtain high efficiency from such equipment, companies need to make sure that it is working in proper conditions. These machines need to be maintained and regularly inspected to ensure their high efficiency and better outcomes.

Canada Metal Fabrication Equipment Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)