Machinery Maintenance & Heavy Equipment Repair Services in Canada - Market Research Report (2014-2029)
New York, United States
Last Updated: June 2024
NAICS 81131CARevenue
$11.5bn
Past 5-Year Growth
Profit
$XXX.Xm
Employees
50,885
Businesses
13,624
Wages
$X.Xbn
Machinery Maintenance & Heavy Equipment Repair Services in Canada industry analysis
Revenue for repair service providers has slightly declined in recent years. The falling need for repair services from the energy and mining sectors has lowered revenue for repair service providers. The growing need for service providers from other downstream markets, including retail, wholesale, transportation and warehousing, has overshadowed the poor performance of these sectors. Repair service revenue is estimated to dip at a CAGR of 0.7% to $11.5 billion through the end of 2024, including a 0.4% climb in 2024 alone. Similarly, profit has fallen to an expected 8.0% of revenue in 2024, down from 9.1% in 2019, as service providers sacrificed profit to stay in business during the height of the COVID-19 pandemic.
Trends and Insights
- Rising inflationary pressures will dampen growth. Even as pent-up demand has fuelled growth, high interest rates set to combat inflation will slow down revenue growth.
- Industrial production is a core metric for repair service providers. As industrial production increases, M&R service demand for relevant machinery and equipment will mount.
- Demand is dependent on downstream market presence. In regions with more core customers, the need for M&R servicing will be greater, fuelling growth. The significant presence of repair service providers in Alberta illustrates this fact.
- Competitive pricing fuels internal competition. Repair service providers attempting to gain a competitive edge will lower prices to attract more customers.
Industry Overview
Market size and recent performance (2014-2029)
Industry revenue has declined at a CAGR of 0.7 % over the past five years, to reach an estimated $11.5bn in 2024.
Trends and Insights
Downstream volatility constrains growth
- Lower commodity prices have reduced the need for repair services from energy and mining markets. Recent growth in gas prices has fuelled growth in some downstream energy markets.
- Additional trends and insights available with purchase
Source: IBISWorld
Industry outlook (2024-2029)
Market size is projected to grow over the next five years.
Trends and Insights
Growing economic activity increases demand for repairs
- When economic activity increases, demand for repair services also grows. As critical markets such as agriculture and forestry expand in the coming years, the need for equipment repairs and maintenance will mount.
Biggest companies in the Machinery Maintenance & Heavy Equipment Repair Services in Canada
| Company | Market Share (%)
2024 | Revenue ($m)
2024 | Profit ($m)
2024 | Profit Margin (%)
2024 |
|---|---|---|---|---|
CIMCO Refrigeration Inc. | 126.6 | N/A | N/A |
To view the market share and analysis for all 1 top companies in this industry, view purchase options.
Products & Services Segmentation
Source: IBISWorld
Industry revenue is measured across several distinct product and services lines, including Industrial M&R, Commercial and service M&R and Agricultural, construction, mining and forestry M&R. Industrial M&R is the largest segment of the Machinery Maintenance & Heavy Equipment Repair Services in Canada.
Trends and Insights
Industrial maintenance and repairs is the industry’s largest segment
- Industrial M&R services are the largest source of revenue for repair service providers. Revenue is generated from maintenance and repair (M&R) services for industrial machinery and equipment. Repair service providers offer metal cutting, grinding, buffering, drilling and polishing of machinery and equipment to industrial consumers.
- More insights available in the full report
Widen you competitive advantage with related industries
Competitors
- Auto Mechanics in Canada
- Car Body Shops in Canada
Complementors
- Oil Change Services in Canada
- Electronic & Computer Repair Services in Canada
International industries
- Machinery Maintenance & Heavy Equipment Repair Services in the US
- Heavy Machinery Repair and Maintenance in Australia
- Heavy Machinery Repair and Maintenance in New Zealand
- Machinery Repair & Maintenance in the UK
Table of Contents
About this industry
Industry definition
The Machinery Maintenance and Heavy Equipment Repair Services industry in Canada offers maintenance and repair services, such as blade sharpening and welding, for commercial, industrial, agricultural and other sectors that use heavy machinery and equipment. Automotive and electronic repairs are excluded from this industry.
What's included in this industry?
Providing maintenance, repair and parts installation for industrial sector clientsProviding maintenance, repair and parts installation for commercial sector clientsProviding maintenance, repair and parts installation for service sector clientsProviding maintenance, repair and parts installation for agricultural sector clientsCompanies
CIMCO Refrigeration Inc.Purchase this report to view all 1 major companies in this industry.
Related Terms
MECANIQUE D'engins DE CHANTIERMECANIQUE AGRICOLERED SEALIndustry Code
NAICS 811310 - Machinery Maintenance & Heavy Equipment Repair Services 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
Rising inflationary pressures will dampen growth. Even as pent-up demand has fuelled growth, high interest rates set to combat inflation will slow down revenue growth.
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 (2014-2023) and forecast (2024-2029)
- Employees, including historical (2014-2023) and forecast (2024-2029)
- Businesses, including historical (2014-2023) and forecast (2024-2029)
- Profit, including historical (2014-2024)
- 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
Industrial production is a core metric for repair service providers. As industrial production increases, M&R service demand for relevant machinery and equipment will mount.
In this chapter
- Products & Services
- Major Markets
Key metrics
- Largest market segment and value in 2024
- Product innovation level
Charts
- Products & services segmentation in 2024
- Major market segmentation in 2024
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
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
Demand is dependent on downstream market presence. In regions with more core customers, the need for M&R servicing will be greater, fuelling growth. The significant presence ...
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 2024
Tables
- Number and share of establishments in each province in 2024
- Number and share of revenue each province accounts for in 2024
- Number and share of wages each province accounts for in 2024
- Number and share of employees in each province in 2024
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
Competitive pricing fuels internal competition. Repair service providers attempting to gain a competitive edge will lower prices to attract more customers.
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 2019-2024
- 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
The industry is dominated by small businesses, with most employers having fewer than five workers. Over half of all establishments are non-employers, indicating a heavily fra...
In this chapter
- Market Share Concentration
- Companies
- Company Spotlights
Charts
- Industry market share by company in 2020 through 2024
- Major companies in the industry, including market share, revenue, profit and profit margin in 2024
- Overview of CIMCO Refrigeration Inc.'s performance by revenue, market share and profit margin from 2018 through 2024
Detailed analysis
- Description and key data for CIMCO Refrigeration Inc., and factors influencing its performance in the industry
External Environment
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Analyst insights
Industrial production determines industry performance. Repair service providers must focus on the Industrial Production Index to gauge economic sentiment across core customer...
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 (2014-2029)
- Assistance historical data and forecast (2014-2029)
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
Educational requirements fuel growing wage costs. Repair service providers require qualified workers with the certifications necessary to conduct M&R services.
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 2024
- Average sector operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2024
- Investment vs. share of economy
Data tables
- Liquidity Ratios (2017-2022)
- Coverage Ratios (2017-2022)
- Leverage Ratios (2017-2022)
- Operating Ratios (2017-2022)
- Assets (2017-2022)
- Liabilities (2017-2022)
- Cash Flow & Debt Service Ratios (2014-2029)
- Revenue per Employee (2014-2029)
- Revenue per Enterprise (2014-2029)
- Employees per Establishment (2014-2029)
- Employees per Enterprise (2014-2029)
- Average Wage (2014-2029)
- Wages/Revenue (2014-2029)
- Establishments per Enterprise (2014-2029)
- IVA/Revenue (2014-2029)
- Imports/Demand (2014-2029)
- Exports/Revenue (2014-2029)
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 (2014-2029)
- IVA (2014-2029)
- Establishments (2014-2029)
- Enterprises (2014-2029)
- Employment (2014-2029)
- Exports (2014-2029)
- Imports (2014-2029)
- Wages (2014-2029)
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.
Learn more about our methodology and data sourcing on the Help Center.
Frequently Asked Questions
Unlock comprehensive answers and precise data upon purchase. View purchase options.
What is the market size of the Machinery Maintenance & Heavy Equipment Repair Services industry in Canada in 2024?
The market size of the Machinery Maintenance & Heavy Equipment Repair Services industry in Canada is $11.5bn in 2024.
How many businesses are there in the Machinery Maintenance & Heavy Equipment Repair Services in Canada industry in 2024?
There are 13,624 businesses in the Machinery Maintenance & Heavy Equipment Repair Services industry in Canada, which has declined at a CAGR of 2.6 % between 2019 and 2024.
Has the Machinery Maintenance & Heavy Equipment Repair Services industry in Canada grown or declined over the past 5 years?
The market size of the Machinery Maintenance & Heavy Equipment Repair Services industry in Canada has been declining at a CAGR of 0.7 % between 2019 and 2024.
What is the forecast growth of the Machinery Maintenance & Heavy Equipment Repair Services industry in Canada over the next 5 years?
Over the next five years, the Machinery Maintenance & Heavy Equipment Repair Services industry in Canada is expected to grow.
What are the biggest companies in the Machinery Maintenance & Heavy Equipment Repair Services market in Canada?
The biggest company operating in the Machinery Maintenance & Heavy Equipment Repair Services market in Canada is CIMCO Refrigeration Inc.
What does the Machinery Maintenance & Heavy Equipment Repair Services in Canada include?
Providing maintenance, repair and parts installation for industrial sector clients and Providing maintenance, repair and parts installation for commercial sector clients are part of the Machinery Maintenance & Heavy Equipment Repair Services industry.
Which companies have the highest market share in the Machinery Maintenance & Heavy Equipment Repair Services in Canada?
The company holding the most market share in Canada is CIMCO Refrigeration Inc..
How competitive is the Machinery Maintenance & Heavy Equipment Repair Services industry in Canada?
The level of competition is high and steady in the Machinery Maintenance & Heavy Equipment Repair Services industry in Canada.
