Concrete Contractors in Canada - Industry Market Research Report

Solid foundation: Government investment will provide contractors with an avenue of growth

Contractors rely heavily on the residential construction market and the industrial and infrastructure construction market. Contractors enjoyed strong growth stemming from the residential construction market in 2020 and 2021 amid COVID-19, but growth slowed as interest rates began to climb. Oil and gas producers seeking to expand their output to take advantage of favorable prices began increasing capital expenditure on production facilities, greatly benefiting contractors. Industry-wide revenue has been growing at a CAGR of 1.2% over the past five years and is expected to total $10.2 billion in 2023, when revenue will drop an estimated 3.5%. Operators in the Canadian Concrete Contractors industry primarily pour, build and finish concrete foundations and structural elements like retaining walls and private driveways and walks. Contractors also perform grout and shotcrete work. The work performed may include new work, additions, alterations, maintenance and repairs. 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.