The value added of the repair and installation of industrial machinery and industrial equipment sector in Canada was recorded at approximately 7.76 billion Canadian Dollars in 2023. From 2024 onwards, this sector is projected to experience steady growth, reaching 8.34 billion Canadian Dollars by 2028. The year-on-year growth rate from 2024 to 2025 is approximately 1.52%, and it shows a consistent upward trend of around 1.37% to 1.45% per year until 2028. This sector's compound annual growth rate (CAGR) over the forecasted period is approximately 1.45%, reflecting a stable positive trend.

Future trends to watch for in this sector include:

Continued technological advancements that could drive demand for upgrade and installation services.
Increased focus on sustainability, potentially influencing repair practices and materials used in equipment maintenance.
A potential uptick in investment in industrial equipment as industries recover and grow, post-pandemic, fueling the repair and installation market further.