Heavy Engineering Construction in Canada
The Heavy Engineering Construction industry in Canada depends heavily on government spending at both the federal and provincial levels, private investment in physical assets and demand from the energy sector. Over the five years to 2018, the industry has benefited from the government's strong commitment to closing Canada's infrastructure gap, although volatility in commodity markets ultimately dampened this performance. The Canada Investing in Canada Plan, a 12-year, $180.0 billion fund for local and regional infrastructure, has underpinned growth since its launch in 2016. However, the industry's drop in revenue in 2015 amid a collapse in commodity prices which sent ripples throughout the economy significantly outweighs the benefits of this ambitious initiative. Together, these countervailing forces are expected to drive industry revenue over the five years to 2018. Over the next five years, the industry will benefit from steady government support and a more attractive investment climate. Still, rising interest rates may stymie demand from the private sector despite an anticipated rise in commodity prices which should instigate purchases from the mining and metal sectors. Over the five years to 2023, industry revenue is projected to increase.
This industry is engaged in heavy engineering construction projects, with the exception of highway, street, waterworks infrastructure and bridge construction. Work performed includes new construction, reconstruction, rehabilitation and repairs. The industry also includes specialty trade contractors if they primarily participate in activities related to engineering construction projects. Construction projects include the development of marine facilities, tunnels, railways and parking lots.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.
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