Industry Statistics and Trends
Market size and recent performance (2013-2028)
Industry revenue has declined at a CAGR of 0.8 % over the past five years, to reach an estimated $5.2bn in 2023.
Trends and Insights
The pandemic temporarily halts growth
- The industry collapsed in 2020, plummeting more than 12.0% in a single year as most businesses closed. This shutdown led to sinking industrial production, slashing demand from a key market. Declining corporate profit deterred most companies from investing in new forklifts and conveyors.
- Additional trends and insights available with purchase
Industry outlook (2024-2029)
Market size is projected to grow over the next five years.
Trends and Insights
Companies innovate new forklift technology to appeal to customers
- Many companies have prioritized integrating new technology to attract new customers. Manufacturers have emphasized forklift technology, ranging from automation to electric power.
Biggest companies in the Forklift & Conveyor Manufacturing in Canada
Company | Market Share (%)
2023 | Revenue ($m)
2023 | Profit ($m)
2023 | Profit Margin (%)
2023 |
---|---|---|---|---|
TK Elevator | 430.0 | 44.4 | 10.3 | |
Linamar Corporation | 113.5 | N/A | N/A | |
Fraco Products Ltd. | 20.6 | N/A | N/A |
To view the market share and analysis for all 4 top companies in this industry, view purchase options.
Products & Services Segmentation
Industry revenue is measured across several distinct product and services lines, including Forklifts and industrial trucks, trailers and stackers , Overhead cranes, hoists and monorail systems and Conveyors and conveying equipment. Forklifts and industrial trucks, trailers and stackers is the largest segment of the Forklift & Conveyor Manufacturing in Canada.
Trends and Insights
Conveyors and conveying equipment generate demand from diverse sectors
- Conveyors include unit handling, bulk material handling and other belts. This segment also includes nonbelt, gravity and trolley conveying systems for manufacturing and agricultural uses.
- More insights available in the full report
Table of Contents
About this industry
Industry definition
This industry manufactures equipment used to lift or move materials or people. Major products include forklifts and industrial trucks; escalators and elevators; conveyor belts, hoists, winches, cranes and monorail systems; and related parts, attachments and equipment.
What's included in this industry?
Industrial truck, tractor, trailer and stacker machinery manufacturingOverhead travelling crane, hoist and monorail system manufacturing Conveyor and conveying equipment manufacturing Elevator and moving-stairway manufacturingCompanies
TK ElevatorLinamar CorporationFraco Products Ltd.Purchase this report to view all 4 major companies in this industry.
Related Terms
TELEHANDLERWINCHLEAN PRODUCTIONIndustry Code
NAICS 333920 - Forklift & Conveyor Manufacturing in Canada
Performance
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Analyst insights
Innovation will drive growth. Many manufacturers will create specialized products, enabling them to succeed amid overwhelming import penetration.
In this chapter (4)
- Current Performance
- Outlook
- Volatility
- Life Cycle
Key metrics
- Annual Revenue, Recent Growth, Forecast, Revenue Volatility
- Number of Employees, Recent Growth, Forecast, Employees per Business, Revenue per Employee
- Number of Businesses, Recent Growth, Forecast, Employees per Business, Revenue per Business
- Total Profit, Profit Margin, Profit per Business
Charts
- Revenue, including historical (2013-2022) and forecast (2023-2028)
- Employees, including historical (2013-2022) and forecast (2023-2028)
- Businesses, including historical (2013-2022) and forecast (2023-2028)
- Profit, including historical (2013-2023)
- Industry Volatility vs. Revenue Growth
- Industry Life Cycle
Detailed analysis
- Trends in supply, demand and current events that are driving current industry performance
- Expected trends, economic factors and ongoing events that drive the industry's outlook
- Key success factors for businesses to overcome volatility
- How contribution to GDP, industry saturation, innovation, consolidation, and technology and systems influence the industry's life cycle phase.
Products and Markets
Learn about an industry's products and services, markets and trends in international trade.
Analyst insight
Demand from retail, transportation and warehousing companies has expanded. E-commerce growth has supported this market's growth.
In this chapter
- Products & Services
- Major Markets
- International Trade
Key metrics
- Largest market segment and value in 2023
- Product innovation level
- Total imports, level and trend
- Total exports, level and trend
- Trade Balance
Charts
- Products & services segmentation in 2023
- Major market segmentation in 2023
- International trade, including imports by country and exports by country
Detailed analysis
- Trends impacting the recent performance of the industry's various segments
- Innovations in the industry's product or service offering, specialization or delivery method
- Key factors that successful businesses consider in their offerings
- Buying segments and key trends influencing demand for industry products and services
- Recent trends in import and export volumes, country of origin or destination, and expected future trends
Geographic Breakdown
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Analyst insights
Most manufacturers locate in Ontario. The region has a diverse range of downstream buyers, like construction, manufacturing and shipping industries.
In this chapter (1)
- Business Locations
Charts
- Share of revenue, establishment, wages and employment in each province
- Share of population compared to establishments in each region in 2023
Tables
- Number and share of establishments in each province in 2023
- Number and share of revenue each province accounts for in 2023
- Number and share of wages each province accounts for in 2023
- Number and share of employees in each province in 2023
Detailed analysis
- Geographic spread of the industry across North America, and trends associated with changes in the business landscape
- Key success factors for businesses to use location to their advantage
Competitive Forces
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
Analyst insights
Quality is a key competitive aspect. Forklifts and conveyors are long-term investments for buyers; higher-cost but better-quality products are often better investments for bu...
In this chapter (4)
- Concentration
- Barriers to Entry
- Substitutes
- Buyer & Supplier Analysis
Key metrics
- Industry concentration level
- Industry competition level and trend
- Barriers to entry level and trend
- Substitutes level and trend
- Buyer power level and trend
- Supplier power level and trend
Charts
- Market share concentration among the top 4 suppliers from 2018-2023
- Supply chain including upstream supplying industries and downstream buying industries, flow chart
Detailed analysis
- Factors impacting the industry’s level of concentration, such as business distribution, new entrants, or merger and acquisition activity.
- Key success factors for businesses to manage the competitive environment of the industry.
- Challenges that potential industry entrants face such as legal, start-up costs, differentiation, labor/capital intensity and capital expenses.
- Key success factors for potential entrants to overcome barriers to entry.
- Competitive threats from potential substitutes for the industry’s own products and services.
- Key success factors for how successful businesses can compete with substitutes.
- Advantages that buyers have to keep favorable purchasing conditions.
- Advantages that suppliers have to maintain favorable selling conditions.
- Key success factors for how businesses can navigate buyer and supplier power.
Companies
Learn about the performance of the top companies in the industry.
Analyst insights
Most companies struggle to command significant market share. Manufacturers often operate in niches, offering custom-built products to potential customers.
In this chapter
- Market Share Concentration
- Companies
- Company Spotlights
Charts
- Industry market share by company in 2019 through 2023
- Major companies in the industry, including market share, revenue, profit and profit margin in 2023
- Overview of TK Elevator's performance by revenue, market share and profit margin from 2017 through 2023
- Overview of Linamar Corporation's performance by revenue, market share and profit margin from 2017 through 2023
- Overview of Fraco Products Ltd.'s performance by revenue, market share and profit margin from 2017 through 2023
- Overview of revenue, market share and profit margin trend for one additional company
Detailed analysis
- Description and key data for TK Elevator, and factors influencing its performance in the industry
- Description and key data for Linamar Corporation, and factors influencing its performance in the industry
- Description and key data for Fraco Products Ltd., and factors influencing its performance in the industry
- Description, key data and performance trends for one additional company
External Environment
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Analyst insights
Manufacturers benefit from trade deals. These deals make exports more competitive in international markets but contribute to import penetration.
In this chapter
- External Drivers
- Regulation & Policy
- Assistance
Key metrics
- Regulation & policy level and trend
- Assistance level and trend
Charts
- Regulation & Policy historical data and forecast (2013-2028)
- Assistance historical data and forecast (2013-2028)
Detailed analysis
- Demographic and macroeconomic factors influencing the industry, including Regulation & Policy and Assistance
- Major types of regulations, regulatory bodies, industry standards or specific regulations impacting requirements for industry operators
- Key governmental and non-governmental groups or policies that may provide some relief for industry operators.
Financial Benchmarks
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Analyst insights
Manufacturers invest into skilled labour for research and development. Companies have focused on producing more environmentally friendly and cost-efficient products to attrac...
In this chapter
- Cost Structure
- Financial Ratios
- Key Ratios
Key metrics
- Profit margin, and how it compares to the sector-wide margin
- Average wages, and how it compares to the sector-wide average wage
- Largest cost component as a percentage of revenue
- Industry average ratios for days' receivables, industry coverage and debt-to-net-worth ratio
Charts
- Average industry operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2023
- Average sector operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2023
- Investment vs. share of economy
Data tables
- Liquidity Ratios (2016-2021)
- Coverage Ratios (2016-2021)
- Leverage Ratios (2016-2021)
- Operating Ratios (2016-2021)
- Assets (2016-2021)
- Liabilities (2016-2021)
- Cash Flow & Debt Service Ratios (2013-2028)
- Revenue per Employee (2013-2028)
- Revenue per Enterprise (2013-2028)
- Employees per Establishment (2013-2028)
- Employees per Enterprise (2013-2028)
- Average Wage (2013-2028)
- Wages/Revenue (2013-2028)
- Establishments per Enterprise (2013-2028)
- IVA/Revenue (2013-2028)
- Imports/Demand (2013-2028)
- Exports/Revenue (2013-2028)
Detailed analysis
- Trends in the cost component for industry operators and their impact on industry costs and profitability
Key Statistics
Industry Data
Data Tables
Including values and annual change:
- Revenue (2013-2028)
- IVA (2013-2028)
- Establishments (2013-2028)
- Enterprises (2013-2028)
- Employment (2013-2028)
- Exports (2013-2028)
- Imports (2013-2028)
- Wages (2013-2028)
Top Questions Answered
Unlock comprehensive answers and precise data upon purchase. View purchase options.
What is the market size of the Forklift & Conveyor Manufacturing industry in Canada in 2024?
The market size of the Forklift & Conveyor Manufacturing industry in Canada is $5.2bn in 2024.
How many businesses are there in the Forklift & Conveyor Manufacturing in Canada industry in 2023?
There are 437 businesses in the Forklift & Conveyor Manufacturing industry in Canada, which has declined at a CAGR of 0.9 % between 2018 and 2023.
Has the Forklift & Conveyor Manufacturing industry in Canada grown or declined over the past 5 years?
The market size of the Forklift & Conveyor Manufacturing industry in Canada has been declining at a CAGR of 0.8 % between 2018 and 2023.
What is the forecast growth of the Forklift & Conveyor Manufacturing industry in Canada over the next 5 years?
Over the next five years, the Forklift & Conveyor Manufacturing industry in Canada is expected to grow.
What are the biggest companies in the Forklift & Conveyor Manufacturing market in Canada?
The biggest companies operating in the Forklift & Conveyor Manufacturing market in Canada are TK Elevator, Linamar Corporation and Fraco Products Ltd.
What does the Forklift & Conveyor Manufacturing in Canada include?
Industrial truck, tractor, trailer and stacker machinery manufacturing and Overhead travelling crane, hoist and monorail system manufacturing are part of the Forklift & Conveyor Manufacturing industry.
Which companies have the highest market share in the Forklift & Conveyor Manufacturing in Canada?
The company holding the most market share in Canada is TK Elevator.
How competitive is the Forklift & Conveyor Manufacturing industry in Canada?
The level of competition is moderate and steady in the Forklift & Conveyor Manufacturing industry in Canada.
Related Industries
Widen your competitive advantage with related industries
Competitors
- Power Tools & Other General-Purpose Machinery Manufacturing in Canada
Complementors
- Tractors & Agricultural Machinery Manufacturing in Canada
- Construction Machinery Manufacturing in Canada
- Engine & Turbine Manufacturing in Canada
- Truck, Trailer & Motor Home Manufacturing in Canada
International industries
- Forklift & Conveyor Manufacturing in the US
- Automated Guided Vehicle Manufacturing in the US
- Overhead Crane Manufacturing in the US
- Forklift Manufacturing in the US
- Conveyor and Crane Manufacturing in Australia
Methodology
How are IBISWorld reports created?
IBISWorld has been a leading provider of trusted industry research for over 50 years to the most successful companies worldwide. With offices in Australia, the United States, the United Kingdom, Germany and China, we are proud to have local teams of analysts that conduct research, data analysis and forecasting to produce data-driven industry reports.
Our analysts start with official, verified and publicly available sources of data to build the most accurate picture of each industry. Analysts then leverage their expertise and knowledge of the local markets to synthesize trends into digestible content for IBISWorld readers. Finally, each report is reviewed by one of IBISWorld’s editors, who provide quality assurance to ensure accuracy and readability.
IBISWorld relies on human-verified data and human-written analysis to compile each standard industry report. We do not use generative AI tools to write insights, although members can choose to leverage AI-based tools within the platform to generate additional analysis formats.
What data sources do IBISWorld analysts use?
Each industry report incorporates data and research from government databases, industry-specific sources, industry contacts, and our own proprietary database of statistics and analysis to provide balanced, independent and accurate insights.
Key data sources in Canada include:
- Statistics Canada
- Industry Canada
- Canadian Business Patterns
Analysts also use industry specific sources to complement catch-all sources, although their perspective may focus on a particular organization or representative body, rather than a clear overview of all industry operations. However, when balanced against other perspectives, industry-specific sources provide insights into industry trends.
These sources include:
- Industry and trade associations
- Industry federations or regulators
- Major industry players annual or quarterly filings
Finally, IBISWorld’s global data scientists maintain a proprietary database of macroeconomic and demand drivers, which our analysts use to help inform industry data and trends. They also maintain a database of statistics and analysis on thousands of industries, which has been built over our more than 50-year history and offers comprehensive insights into long-term trends.
How does IBISWorld forecast its data?
IBISWorld’s analysts and data scientists use the sources above to create forecasts for our proprietary datasets and industry statistics. Depending on the dataset, they may use regression analysis, multivariate analysis, time-series analysis or exponential smoothing techniques to project future data for the industry or driver. Additionally, analysts will leverage their local knowledge of industry operating and regulatory conditions to impart their best judgment on the forecast model.
IBISWorld prides itself on being a trusted, independent source of data, with over 50 years of experience building and maintaining rich datasets and forecasting tools. We are proud to be the keystone source of industry information for thousands of companies across the world.
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