Construction & Forestry Equipment Wholesaling in Canada - Industry Market Research Report

Equipped for anything: Growth in the residential and nonresidential construction sectors will raise revenue

Construction and forestry equipment wholesalers in Canada distribute specialized machinery, equipment and related parts used in construction and logging activity. When the pandemic hit, governments shut down many businesses to stop the spread of the virus. Nonresidential construction plunged because business closures constrained corporate profit, reducing demand for construction equipment. Demand from residential markets remained strong because low interest rates and high per capita disposable income in 2020 enabled consumers to buy and renovate homes. Spending on construction and forestry equipment surged during the pandemic recovery as companies built new office space to accommodate employees returning to the office. The Bank of Canada has raised interest rates to combat high inflation. The elevated cost of borrowing has made it more difficult for households to purchase new homes or engage in improvements to their residences, reducing spending on the industry's products and causing revenue to fall recently. Overall, revenue for construction and forestry wholesalers in Canada is anticipated to increase at a CAGR of 1.7% during the current period, reaching $22.0 billion in 2023. Revenue is expected to drop 5.7% in 2023 This industry wholesales specialized machinery, equipment and related parts used in construction and logging activity. This industry doesn't engage in the wholesaling of mining, oil well machinery or 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 key players and their market shares.