Forklift & Conveyor Manufacturing in Canada - Industry Market Research Report

Heavy lifting: A decline in housing starts and industrial capacity utilization will slow industry growth

Canadian forklift and conveyor manufacturers largely rely on foreign demand, particularly from the United States. Exports account for more than 75.0% of revenue, with the United States making up more than 85.0% of those exports. Many trends in Canadian and American manufacturing, construction, transportation and warehousing sectors drive growth. The Canadian effective exchange rate (CEER) index also significantly impacts operations. The CEER index appreciated, rendering Canadian-made products less affordable overseas. Supply chain shocks also hampered trade markets, leading to plummeting revenue. Revenue will contract at an expected CAGR of 0.8% to $5.2 billion through the current period, including a 3.7% drop in 2023, when profit reached 11.0%.

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.

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's key players and their market shares.