Millwork in Canada - Industry Market Research Report
Description
Millwork in Canada
The Millwork industry in Canada manufactures products that are used primarily in construction products and as a result, industry revenue is closely tied to downstream construction markets. One of the industry's largest markets is renovation expenditures and growth in home improvement spending in response to rising incomes and home prices has sustained industry performance. Canadian real estate has been increasing in value, even since before the pandemic. The fiscal and monetary stimulus pushed real estate prices even higher. Rising interest rates to combat inflation are reducing demand for debt in general, but for mortgages, in particular. Millwork revenue has been decreasing at an annualized rate of 0.9% to $6.3 billion over the five years to 2023, including an estimated 7.2% drop in 2023 alone, when profit is expected to total 7.6% of revenue.
This industry manufactures hardwood and softwood cut stock and dimension stock timber, such as lumber and worked wood products cut or shaped into specialized sizes; wood windows and doors; and other millwork, such as wood flooring. These reshaped wood products are mainly sold to housing and other building construction industries and their contractors, in addition to wood product distributors.
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."
The Millwork industry in Canada manufactures products that are used primarily in construction products and as a result, industry revenue is closely tied to downstream construction markets. One of the industry's largest markets is renovation expenditures and growth in home improvement spending in response to rising incomes and home prices has sustained industry performance. Canadian real estate has been increasing in value, even since before the pandemic. The fiscal and monetary stimulus pushed real estate prices even higher. Rising interest rates to combat inflation are reducing demand for debt in general, but for mortgages, in particular. Millwork revenue has been decreasing at an annualized rate of 0.9% to $6.3 billion over the five years to 2023, including an estimated 7.2% drop in 2023 alone, when profit is expected to total 7.6% of revenue.
This industry manufactures hardwood and softwood cut stock and dimension stock timber, such as lumber and worked wood products cut or shaped into specialized sizes; wood windows and doors; and other millwork, such as wood flooring. These reshaped wood products are mainly sold to housing and other building construction industries and their contractors, in addition to wood product distributors.
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."
Table of Contents
39 Pages
ABOUT THIS INDUSTRY
Industry Definition
Main Activities
Similar Industries
Additional Resources
INDUSTRY AT A GLANCE
INDUSTRY PERFORMANCE
Executive Summary
Key External Drivers
Current Performance
Industry Outlook
Industry Life Cycle
PRODUCTS & MARKETS
Supply Chain
Products & Services
Demand Determinants
Major Markets
International Trade
Business Locations
COMPETITIVE LANDSCAPE
Market Share Concentration
Key Success Factors
Cost Structure Benchmarks
Basis of Competition
Barriers to Entry
Industry Globalization
MAJOR COMPANIES
OPERATING CONDITIONS
Capital Intensity
Technology & Systems
Revenue Volatility
Regulation & Policy
Industry Assistance
KEY STATISTICS
Industry Data
Annual Change
Key Ratios
JARGON & GLOSSARY
Pricing
Currency Rates
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