Over the past five years, capital investments in computer numerical controlled (CNC) machines capable of creating customized components, as well as other automated equipment, have decreased the Machine Shop Services industry in Canada's dependence on labour. As a result, industry employment trailed behind revenue growth over the past five years. In the coming years, increased Canadian industrial production will boost industry revenue. In addition, as disposable income and employment continue to rise, consumers are expected to spend more on cars and other forms of travel, bolstering demand for machined parts designated for automotive and aerospace manufacturers.
This industry is primarily engaged in operating machine tools, such as lathes (including computer numerically controlled), automatic screw machines and machines for boring, grinding, milling and otherwise working metal, to produce machine parts and equipment, other than complete machines, for the trade. Machine shops providing custom and repair services are included.
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.