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Engine and Turbine Manufacturing in Canada Industry Market Research Report from IBISWorld Has Been Updated
  • USA - English


News provided by

IBISWorld Inc.

Nov 27, 2013, 02:00 ET

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The industry was hit hard by the recession, but will benefit from greater invest in industrial equipment and machinery.

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Los Angeles, CA (PRWEB) November 26, 2013 -- The two major product segments that comprise the Engine and Turbine Manufacturing Industry are: engines (other than gasoline powered) for highway and heavy-duty vehicles, trains and marine applications and power generation equipment for utility plants. According to IBISWorld Industry Analyst Stephen Morea,”Revenue for the engine segment hinges on demand for diesel engines from truck manufacturers as well as demand for engines for marine and locomotive freight transportation.” Power generation revenue is dependent on industrial activity, which dictates the number of turbines and generators sold. Trade is essential to this industry; engine and turbine manufacturers benefit from exports accounting for over half of the industry's revenue. However, exports have decreased from 2008 to 2013.

Total industry revenue is also expected to decline at an annualized 1.4% to $3.1 billion in the five years to 2013. This decline is largely the result of a 12.1% revenue drop in 2009, as diminished industrial output in Canada and globally depressed demand for freight transportation slashed sales of trucks, heavy machinery and the engines that power them. A subsequent economic recovery improved the outlook for this industry as strong investments in industrial machinery translated into more purchases of engines and power equipment. The continuation of this trend is expected to increase industry revenue by 1.2% in 2013.

International trade in engines and utility turbines comprise a significant proportion of industry revenue. “A great deal of trade in this industry occurs between the United States and Canada,” says Morea. From 2008 to 2013, the Canadian dollar appreciated against most of its major trading partners, making Canadian engines and turbines less affordable to buyers overseas. However, the Canadian dollar slightly depreciated against the US dollar, keeping Canadian goods affordable compared with their US competitors and mitigating a large decline in industry exports. Domestically, greater consumer spending will strengthen demand for freight and highway transportation. As one of the industry's largest customers, increased freight trucking leads to more sales of diesel engines. Greater consumer spending will also increase Canadian manufacturing; with higher revenue, manufacturing firms will be able to invest in industrial equipment and machinery, which includes power generation units, heavy-duty diesel engines and engine components. Through 2018, revenue is forecast to increase.

Market share concentration in Canada's Engine and Turbine Manufacturing industry is low. The largest players in the industry are General Electric Company and Alstom. According to data from Industry Canada, a majority of industry establishments (94.0%) are small, employing less than 100 workers. Only two establishments in the Engine and Turbine Manufacturing industry in Canada employ more than 500 workers.

For more information, visit IBISWorld’s Engine and Turbine Manufacturing in Canada industry report page.

Follow IBISWorld on Twitter: https://twitter.com/#!/IBISWorld
Friend IBISWorld on Facebook: http://www.facebook.com/pages/IBISWorld/121347533189

IBISWorld industry Report Key Topics

Canada's Engine and Turbine Manufacturing industry manufactures turbines, engines and equipment used for power transmission, such as generators and heavy-duty equipment. Parts and accessories manufacturing are included, such as speed changers, drives and gears, but wind turbine manufacturing is excluded.

Industry Performance
Executive Summary
Key External Drivers
Current Performance
Industry Outlook
Industry Life Cycle
Products & Markets
Supply Chain
Products & Services
Major Markets
Globalization & Trade
Business Locations
Competitive Landscape
Market Share Concentration
Key Success Factors
Cost Structure Benchmarks
Barriers to Entry
Major Companies
Operating Conditions
Capital Intensity
Key Statistics
Industry Data
Annual Change
Key Ratios

About IBISWorld Inc.
Recognized as the nation’s most trusted independent source of industry and market research, IBISWorld offers a comprehensive database of unique information and analysis on every US and Canadian industry. With an extensive online portfolio, valued for its depth and scope, the company equips clients with the insight necessary to make better business decisions. Headquartered in Los Angeles, IBISWorld serves a range of business, professional service and government organizations through more than 10 locations worldwide. For more information, visit http://www.ibisworld.com or call 1-800-330-3772.

Gavin Smith, IBISWorld Inc., http://www.ibisworld.com, +1 (310) 866-5042, [email protected]

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