Canada Metal Fabrication Equipment Market Insights Forecasts to 2033

• The Market Size is Growing at a CAGR of 5.8% from 2023 to 2033.
• The Canada Metal Fabrication Equipment Market Size is Expected to Hold a Significant Share by 2033.

The Canada Metal Fabrication Equipment Market Size is expected to hold a significant share by 2033, at a CAGR of 5.8% during the forecast period 2023 to 2033.

Market Overview

Metal fabrication equipment includes gear and tools used in the production and shape of metal components and structures. It is essential to many industries, including the fabrication of machinery, automobiles, aircraft, and buildings. In the nation's manufacturing sector, the market for metal fabrication equipment in Canada is expanding. To increase fuel efficiency and lower carbon emissions, industries like aerospace and automotive are putting more emphasis on lightweight materials like composites and aluminum. Manufacturers of metal fabrication equipment now have the chance to create devices that can process these materials. The expansion of the manufacturing and construction industries is predicted to be the main driver of the substantial growth in the Canadian metal fabrication equipment market. The demand for cars has steadily increased in Canada, which has contributed to the expansion of the metal-forming equipment industry. The need for steel manufacturing has increased as Canada's industries become more concentrated. In the upcoming years, this might undoubtedly increase demand for metal manufacturing equipment. Demand in this industry is also being boosted by its revived growth in the economy.

Report Coverage

This research report categorizes the market for Canada metal fabrication equipment market based on various segments and regions and forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the Canada metal fabrication equipment market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segments of the Canada metal fabrication equipment market.

Driving Factors

The demand for various healthcare equipment, beds, and other products prompted governments to enable the production of these products with a limited worker workforce, hence supporting market demand for metal fabrication equipment. But over the next years, as things stabilized and governments removed limitations from the industrial facilities, there will likely be a greater demand for metal fabrication equipment. Processes for fabricating metal can be automated to increase productivity, shorten lead times, and improve product quality. In the forecast period, it is anticipated that the Canada market for automated metal fabrication equipment will expand significantly.

Restraining Factors

The profitability of companies that fabricate metal can be greatly impacted by price fluctuations for raw materials like aluminium and steel. Manufacturers must modify their production procedures to account for these pricing swings.

Market Segment

• In 2023, the cutting segment accounted for the largest revenue share over the forecast period.

Based on the type, the Canada metal fabrication equipment market is segmented into cutting, machining, welding. Among these, the cutting segment has the largest revenue share over the forecast period. Increasing demand from end-use industries, such as automotive, is likely to be a major driver of growth. The market for metal fabrication equipment is also expected to be further stimulated by the developing world's continuously expanding industrial sector. Due to the large variety of welding equipment portfolios that are available, differing in size, power, and kind, the segment holds a major market share. Because it is operationally necessary to weld and form metals for various fabrication requirements, welding equipment is prevalent in every industry vertical.

• In 2023, the automotive & aviation segment is expected to hold the largest share of the Canada metal fabrication equipment market during the forecast period.           

Based on the end user, the Canada metal fabrication equipment market is classified into oil & gas, automotive & aviation, power plants, chemicals & mining, construction, and others. Among these, the automotive & aviation segment is expected to hold the largest share of the Canada metal fabrication equipment market during the forecast period. The ever-changing designs and material combinations used in automobile manufacture the automotive sector is one of the most important demand drivers. The ease of use and technological improvements have contributed to the growth of a steady demand for this equipment across a range of sectors. Manufacturing for mechanical purposes is another significant industry vertical that is widely utilized. In the mechanical equipment category, metal cutting machines are the most useful, followed by welding equipment.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the Canada metal fabrication equipment market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• STANDARD IRON & WIRE WORKS, INC.
• TRUMPF Canada Inc.
• BTD Manufacturing
• Colfax
• Komaspec
• Matcor Matsu Group Inc.
• Sandvik Mining and Construction Canada Inc.
• Atlas Copco
• AMADA Canada
• DMG MORI Canada
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting and Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Recent Development

• In February 2022, The Kitchener, Ontario-based steel design, engineering, and fabrication company Steelcraft has been acquired by the Guelph, Ontario-based Arrow Machine and Fabrication Group. Through this transaction, Arrow's manufacturing footprint and client base are expanded globally. Additionally, it supports the business's plan to collaborate with top operator-run fabrication and machining companies in order to address client issues, strengthen supply chain linkages, and take use of their combined capabilities.

Market Segment

This study forecasts revenue at regional, and country levels from 2022 to 2033. Spherical Insights has segmented the Canada Metal Fabrication Equipment Market based on the below-mentioned segments:

Canada Metal Fabrication Equipment Market, By Type

• Cutting
• Machining
• Welding

Canada Metal Fabrication Equipment Market, By End User

• Oil & Gas
• Automotive & Aviation
• Power plants
• Chemicals & Mining
• Construction
• Others