Machine Shop Services in Canada
The Machine Shop Services industry in Canada creates finely tuned parts and components used in the manufacturing of high-performance durable goods, such as cars, aircraft, agricultural, oil field and medical equipment. Industry operators also provide custom milling, turning and boring services for conventional metal goods and stamped metals. Consequently, industry revenue is highly susceptible to changes in Canadian industrial production. As demand from vital downstream automotive, aviation and heavy machinery manufacturing markets improved, revenue for the domestic Machine Shop Services industry expanded over the five years to 2019. Moreover, rising capital investments in computer numerical controlled (CNC) machines capable of creating customized components and other automated equipment have decreased this industry's dependence on labour. As a result, industry wage expenses have contracted as a share of industry revenue. Over the five years to 2024, forecast stability in the growing Canadian economy is expected to boost industry revenue.
This industry is primarily engaged in operating machine tools, such as lathes, including computer numerical control; 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 in this industry.
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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