Industry Analysis & Industry Trends
Industry participants have suffered in the past five years as imports as a share of domestic demand have risen. Canadian operators were forced to compete with these imports on price, which pressured industry profitability. Furthermore, the US housing crisis decimated export demand from commercial and residential building markets. As the industry struggles amid an ongoing decline phase, revenue will likely continue to dwindle as the realities of the global economy make large-scale Canadian-based production of HVACR goods uneconomical... purchase to read more
Industry Report - Industry SWOT Analysis Chapter
IBISWorld analysis indicates that the Heating and Air Conditioning Equipment Manufacturing industry is declining. During the 10 years to 2018, industry value added (IVA), which measures the industry's contribution to the Canadian economy, is projected to decrease 7.0%. In comparison, Canadian GDP is forecast to rise at an average rate of 2.4% annually during the same period. This discrepancy between IVA and GDP indicates an industry in the midst of decline, and other factors support this conclusion.
Although heating, ventilation, air-conditioning and refrigeration (HVACR) equipment represents a key building component for many downstream industries, the Canadian industry exhibits an ongoing state of decline. This trend is primarily due to imports' growing share of domestic demand... purchase to read more