In 2023, the production value of repair and installation of industrial machinery and equipment in Canada stood at CAD 12.67 billion. The forecast from 2024 to 2028 indicates a steady growth trend in the sector, with an average annual growth rate of approximately 1.4%. Year-on-year, the production value is expected to increase by 1.5% in 2025, followed by a 1.5% increase in 2026, 1.4% in 2027, and 1.4% in 2028.

Future trends to watch for:

Technological advancements and automation in industrial machinery could drive efficiency and demand.
Environmental regulations may impact equipment installation and maintenance practices.
Potential for growth in sectors such as renewable energy, which could require specialized machinery services.
Global supply chain dynamics and their effects on the availability of machinery parts.