$4.7bn
$XXX.Xm
10,583
412
$XXX.Xm
Despite Canada being one of the world's largest producers of crude oil, natural gas and a range of other metals and mineral commodities, price fluctuations and volatility throughout the period ultimately pushed revenue down for mining, oil & gas machinery manufacturers. Revenue is closely tied to commodity prices and dictates the level of investment and activity by extraction companies. These prices have fluctuated greatly over time, especially with many goods seeing a sharp dip in price during lockdowns, which significantly hindered the need for machinery. Even an economic recovery later in the period was not enough to salvage revenue. Overall, industry-wide revenue is set to decline at a CAGR of 1.5% to $4.7 billion through 2024, including a 3.8% downturn in 2024 alone as prices on some commodities push down. Profit also dipped slightly amid volatility.
Industry revenue has declined at a CAGR of 1.5 % over the past five years, to reach an estimated $4.7bn in 2024.
Market size is projected to decline over the next five years.
Company | Market Share (%)
2024 | Revenue ($m)
2024 | Profit ($m)
2024 | Profit Margin (%)
2024 |
---|---|---|---|---|
Halliburton Company | 473.5 | 78.9 | 16.7 | |
Boart Longyear Limited | 104.7 | N/A | N/A | |
Rock-Tech | 16.1 | N/A | N/A |
To view the market share and analysis for all 3 top companies in this industry, view purchase options.
Industry revenue is measured across several distinct product and services lines, including Mining machinery and equipment manufacturing, Oil and gas field drilling machinery and equipment and Oil and gas field production machinery and equipment. Mining machinery and equipment manufacturing is the largest segment of the Mining, Oil & Gas Machinery Manufacturing in Canada.
Demand for mining machinery and equipment is impacted partly by commodity prices
The industry manufactures oil and gas field equipment and underground mining machinery. Products include rotary and portable drilling rigs and parts; crushing, pulverizing, screening and mineral processing machinery; and derricks, substructures and related accessories. The following are excluded: machinery with dual construction and mining uses, conveyors for coal and ore, underground mining locomotives and offshore drilling production platforms.
Purchase this report to view all 3 major companies in this industry.
NAICS 333130 - Mining, Oil & Gas Machinery Manufacturing in Canada
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Commodity prices are vital for machinery manufacturers. When prices dip, the need for a commodity goes down, which in turn reduces investment in new machinery.
Learn about an industry's products and services, markets and trends in international trade.
Mining machinery and equipment sales have remained consistent for manufacturers throughout the period. Prices of various like nickel, copper and gold have swelled, bolstering...
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Proximity to the US is important as exports account for a large portion of revenue. Since the United States represents the largest foreign market, having manufacturing facili...
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
While there is a low concentration of manufacturing, consolidation continues to creep up. Many smaller manufacturers are being acquired or leaving the industry entirely becau...
Learn about the performance of the top companies in the industry.
Emission reduction has been a vital focus for companies as Canada aims to have net zero emissions by 2050. Carbon management systems, like the one onboarded by Halliburton, w...
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Trade agreements are vital for manufacturers’ success. Since trade is an integral part of the industry, having free trade agreements, like the USMCA, is vital to keep costs d...
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Machinery manufacturers are automating parts of the manufacturing process to reduce costs. This allows them to allocate more funding for research and development.
Including values and annual change:
IBISWorld has been a leading provider of trusted industry research for over 50 years to the most successful companies worldwide. With offices in Australia, the United States, the United Kingdom, Germany and China, we are proud to have local teams of analysts that conduct research, data analysis and forecasting to produce data-driven industry reports.
Our analysts start with official, verified and publicly available sources of data to build the most accurate picture of each industry. Analysts then leverage their expertise and knowledge of the local markets to synthesize trends into digestible content for IBISWorld readers. Finally, each report is reviewed by one of IBISWorld’s editors, who provide quality assurance to ensure accuracy and readability.
IBISWorld relies on human-verified data and human-written analysis to compile each standard industry report. We do not use generative AI tools to write insights, although members can choose to leverage AI-based tools within the platform to generate additional analysis formats.
Each industry report incorporates data and research from government databases, industry-specific sources, industry contacts, and our own proprietary database of statistics and analysis to provide balanced, independent and accurate insights.
Key data sources in Canada include:
Analysts also use industry specific sources to complement catch-all sources, although their perspective may focus on a particular organization or representative body, rather than a clear overview of all industry operations. However, when balanced against other perspectives, industry-specific sources provide insights into industry trends.
These sources include:
Finally, IBISWorld’s global data scientists maintain a proprietary database of macroeconomic and demand drivers, which our analysts use to help inform industry data and trends. They also maintain a database of statistics and analysis on thousands of industries, which has been built over our more than 50-year history and offers comprehensive insights into long-term trends.
IBISWorld’s analysts and data scientists use the sources above to create forecasts for our proprietary datasets and industry statistics. Depending on the dataset, they may use regression analysis, multivariate analysis, time-series analysis or exponential smoothing techniques to project future data for the industry or driver. Additionally, analysts will leverage their local knowledge of industry operating and regulatory conditions to impart their best judgment on the forecast model.
IBISWorld prides itself on being a trusted, independent source of data, with over 50 years of experience building and maintaining rich datasets and forecasting tools. We are proud to be the keystone source of industry information for thousands of companies across the world.
Learn more about our methodology and data sourcing on the Help Center.
Unlock comprehensive answers and precise data upon purchase. View purchase options.
The market size of the Mining, Oil & Gas Machinery Manufacturing industry in Canada is $4.7bn in 2024.
There are 412 businesses in the Mining, Oil & Gas Machinery Manufacturing industry in Canada, which has declined at a CAGR of 1.4 % between 2019 and 2024.
The market size of the Mining, Oil & Gas Machinery Manufacturing industry in Canada has been declining at a CAGR of 1.5 % between 2019 and 2024.
Over the next five years, the Mining, Oil & Gas Machinery Manufacturing industry in Canada is expected to decline.
The biggest companies operating in the Mining, Oil & Gas Machinery Manufacturing market in Canada are Halliburton Company, Boart Longyear Limited and Rock-Tech
Manufacturing oil and gas derricks and Manufacturing mineral- and stone-beneficiating machinery are part of the Mining, Oil & Gas Machinery Manufacturing industry.
The company holding the most market share in Canada is Halliburton Company.
The level of competition is moderate and steady in the Mining, Oil & Gas Machinery Manufacturing industry in Canada.