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Machine Shop Services in Canada Industry Data and Analysis
Canadian machine shops create finely tuned parts and components to manufacture high-performance, durable goods, including cars, aircraft, agricultural, oil fields and medical equipment. Machinists also provide custom milling, turning and boring services for conventional metal goods and stamped metals. Revenue is highly susceptible to changes in Canadian industrial production levels. Demand from vital downstream aviation and medical machinery manufacturing markets improved during much of the period, bolstering machine shops. The industry has also faced economic headwinds, particularly during the pandemic. Instability and supply chain volatility led to plummeting demand from most major markets, especially automakers and heavy machinery manufacturers. A strong economic rebound helped support demand for machine shop services. More recently, cooling manufacturing activity has weighed on industry activity. Revenue is estimated to decline at a CAGR of 2.2% to $7.0 billion through the end of 2024, including a forecast drop of 3.1% during the current year.
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What's included in this industry analysis
IBISWorld's research coverage on the Machine Shop Services industry in Canada includes market sizing, forecasting, data and analysis from 2014-2029. The most recent publication was released October 2024.
About this industry
What's this industry report about?
The Machine Shop Services industry in Canada operates under the NAICS industry code 33271CA. This industry is primarily engaged in operating machine tools, such as lathes, including computer numerical control; automatic screw machines; and machines for boring, grinding, milling and otherwise working metal, to produce machine parts and equipment, other than complete machines, for the trade. Machine shops providing custom and repair services are included in this industry. Related terms covered in the Machine Shop Services industry in Canada include turning, boring, milling and machine shop.
What's included in this industry?
Products and services covered in Machine Shop Services industry in Canada include Milling, Turning and Grinding.
What companies are included in this industry?
Companies covered in the Machine Shop Services industry in Canada include BC Precision, L & M Precision Products Inc. and RJB Machining Ltd.
Performance
What's included in the Performance chapter?
The Performance chapter covers detailed analysis, datasets, detailed current performance, sources of volatility and an outlook with forecasts for the Machine Shop Services industry in Canada.
Questions answered in this chapter include what's driving current industry performance, what influences industry volatility, how do successful businesses overcome volatility, what's driving the industry outlook. This analysis is supported with data and statistics on industry revenues, costs, profits, businesses and employees.
Products & Markets
What's included in the Products and Markets chapter?
The Products and Markets chapter covers detailed products and service segmentation and analysis of major markets for the for the Machine Shop Services industry in Canada.
Questions answered in this chapter include how are the industry's products and services performing, what are innovations in industry products and services, what products or services do successful businesses offer and what's influencing demand from the industry's markets. This includes data and statistics on industry revenues by product and service segmentation and major markets.
Geographic Breakdown
What's included in the Geographic Breakdown chapter?
The Geographic Breakdown chapter covers detailed analysis and datasets on regional performance of the Machine Shop Services industry in Canada.
Questions answered in this chapter include where are industry businesses located and how do businesses use location to their advantage. This includes data and statistics on industry revenues by location.
Competitive Forces
What's included in the Competitive Forces chapter?
The Competitive Forces chapter covers the concentration, barriers to entry and supplier and buyer profiles in the Machine Shop Services industry in Canada. This includes data and statistics on industry market share concentration, barriers to entry, substitute products and buyer & supplier power.
Questions answered in this chapter include what impacts the industry's market share concentration, how do successful businesses handle concentration, what challenges do potential industry entrants face, how can potential entrants overcome barriers to entry, what are substitutes for industry services, how do successful businesses compete with substitutes and what power do buyers and suppliers have over the industry and how do successful businesses manage buyer & supplier power.
Companies
What's included in the Companies chapter?
The Companies chapter covers Key Takeaways, Market Share and Companies in the Machine Shop Services industry in Canada. This includes data and analysis on companies operating in the industry that hold a market share greater than 5%.
Questions answered in this chapter include what companies have a meaningful market share and how each company is performing.
External Environment
What's included in the External Environment chapter?
The External Environment chapter covers Key Takeaways, External Drivers, Regulation & Policy and Assistance in the Machine Shop Services industry in Canada. This includes data and statistics on factors impacting industry revenue such as economic indicators, regulation, policy and assistance programs.
Questions answered in this chapter include what demographic and macroeconomic factors impact the industry, what regulations impact the industry, what assistance is available to this industry.
Financial Benchmarks
What's included in the Financial Benchmarks chapter?
The Financial Benchmarks chapter covers Key Takeaways, Cost Structure, Financial Ratios, Valuation Multiples and Key Ratios in the Machine Shop Services industry in Canada. This includes financial data and statistics on industry performance including key cost inputs, profitability, key financial ratios and enterprise value multiples.
Questions answered in this chapter include what trends impact industry costs and how financial ratios have changed overtime.
Industry Data
What's included in the Industry Data chapter?
The Industry Data chapter includes 10 years of historical data with 5 years of forecast data covering statistics like revenue, industry value add, establishments, enterprises, employment and wages in the Machine Shop Services industry in Canada.
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Frequently Asked Questions
What is the market size of the Machine Shop Services industry in Canada in 2026?
The market size of the Machine Shop Services industry in Canada is $7.0bn in 2026.
How many businesses are there in the Machine Shop Services industry in Canada in 2024?
There are 3,888 businesses in the Machine Shop Services industry in Canada, which has declined at a CAGR of 0.9 % between 2019 and 2024.
How may import tariffs affect the Machine Shop Services industry in Canada?
The Machine Shop Services industry in Canada is unlikely to be materially impacted by import tariffs with imports accounting for a low share of industry revenue.
How may export tariffs affect the Machine Shop Services industry in Canada?
The Machine Shop Services industry in Canada is unlikely to be materially impacted by export tariffs with exports accounting for a low share of industry revenue.
Has the Machine Shop Services industry in Canada grown or declined over the past 5 years?
The market size of the Machine Shop Services industry in Canada has been declining at a CAGR of 2.2 % between 2019 and 2024.
What is the forecast growth of the Machine Shop Services industry in Canada over the next 5 years?
Over the next five years, the Machine Shop Services industry in Canada is expected to grow.
What are the biggest companies in the Machine Shop Services industry in Canada?
The biggest companies operating in the Machine Shop Services industry in Canada are BC Precision, L & M Precision Products Inc. and RJB Machining Ltd.
What does the Machine Shop Services industry in Canada include?
Manual and computer numerical control milling services and Drilling and boring services are part of the Machine Shop Services industry in Canada.
Which companies have the highest market share in the Machine Shop Services industry in Canada?
The company holding the most market share in the Machine Shop Services industry in Canada is BC Precision.
How competitive is the Machine Shop Services industry in Canada?
The level of competition is high and increasing in the Machine Shop Services industry in Canada.
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