Industry Analysis & Industry Trends
Over the past five years, the Forklift and Conveyor Manufacturing industry in Canada has grown, benefiting from increased US demand for Canadian goods during the onset of economic recovery. As the industry moves further from the booming recovery and competitive pressure from imports increases in the next five years, revenue is expected to slow considerably... purchase to read more
Industry Report - Industry SWOT Analysis Chapter
IBISWorld analysis determines that this industry is in a declining phase of its life cycle. During the 10 years to 2020, industry value added (IVA), which measures the industry's contribution to the Canadian economy, is projected to decrease 0.6% per year on average. In comparison, Canadian GDP is forecast to rise at an average rate of 2.2% annually during the same period; this discrepancy indicates that the Forklift and Conveyor Manufacturing industry in Canada is in decline, as it is increasingly lagging behind the overall economy.
Competition from imported forklifts and conveyor products consistently takes the majority of the domestic market away from Canadian manufacturers. By 2020, IBISWorld expects imported products to satisfy 97.2% of domestic demand... purchase to read more