Pump & Compressor Manufacturing in Canada - Market Research Report (2013-2028)
New York, United States
Last Updated: August 2023
NAICS 33391CARevenue
$2.4bn
Past 5-Year Growth
Profit
$XXX.Xm
Employees
4,917
Businesses
163
Wages
$XXX.Xm
Pump & Compressor Manufacturing in Canada industry analysis
Products produced and sold by pump and compressor manufacturers are used in a wide range of downstream industries, but water management facilities, oil and gas operations and construction markets are the most crucial. Operations are also highly influenced by international trade, as imports represent a dire threat to domestic producers, while exports are a potential life line for many. Volatile conditions during the period resulted in declining revenue and weakening performance, though some managed to weather the storm. Over the past five years, revenue has been declining at a CAGR of 3.9% to $2.4 billion in 2023 when revenue is estimated to drop 6.0%.Due to the importance of oil and gas markets, pump and compressor manufacturers are inherently exposed to a fair level of volatility, given the fluctuations in oil prices and its ripple effect. Still, volatility heightened amid the pandemic's peak and in more recent years, as geopolitical tensions grew and supply chain issues proliferated. Profit dipped swiftly before rebounding strongly and falling once again, but lower input prices enabled most to experience greater returns than in 2018. Still, price-based competition from imports and volatile conditions proved too much for some.Over the next five years, revenue is forecast to decline, as the world price of crude oil sinks, resulting in less extraction and refinement activity, depressing a major source of revenue for many pump and compressor manufacturers. Additionally, the value of imports is projected to rise, as markets increasingly outsource to countries like the United States for high-value brands or lower priced goods through countries like China. Revenue is forecast to decline at a CAGR of 1.2% over the next five years, reaching $2.2 billion in 2028.
Trends and Insights
- Oil price fluctuations increase volatility. Pump and compressor manufacturers contend with inherent volatility, given their reliance on oil and gas markets. However, oil prices experienced substantial fluctuations during the period, resulting in large gains and dips in revenue.
- The oil and gas market is volatile but rising in importance. Despite its penchant for volatility, given its nature as a commodity driven market, oil and gas activity has increased in recent years, resulting in the segment growing as a share of revenue and in importance to overall industry performance.
- Cities and densely-populated provinces provide a wider array of potential markets. In more densely-populated areas, manufacturers have a greater pool of potential clients, ranging from construction markets to gas stations and water treatment facilities.
- Competition is based equally on price and quality. Pumps and compressors are used in a range of downstream markets, including energy extraction and transportation, which are heavily regulated. As a result, buyers are acutely sensitive to the performance of industry products.
Industry Overview
Market size and recent performance (2013-2028)
Industry revenue has declined at a CAGR of 3.9 % over the past five years, to reach an estimated $2.4bn in 2023.
Trends and Insights
Volatility heightens amid and in the wake of the pandemic
- Pump and compressor manufacturers are exposed to a fair level of volatility given the breakdown of their major markets and reliance on oil and gas-related industries.
- Additional trends and insights available with purchase
Source: IBISWorld
Industry outlook (2024-2029)
Market size is projected to decline over the next five years.
Trends and Insights
Greater pricing pressure will force some producers out of the game
- As trade activity rises and downstream markets increasingly turn to low-cost foreign goods, price-based competition will rise.
Biggest companies in the Pump & Compressor Manufacturing in Canada
| Company | Market Share (%)
2023 | Revenue ($m)
2023 | Profit ($m)
2023 | Profit Margin (%)
2023 |
|---|---|---|---|---|
Enerflex Ltd. | 174.5 | 0.3 | 0.2 | |
Sulzer Ltd. | 21.3 | N/A | N/A | |
Albany Pump Company Ltd. | 6.1 | N/A | N/A |
To view the market share and analysis for all 4 top companies in this industry, view purchase options.
Products & Services Segmentation
Source: IBISWorld
Industry revenue is measured across several distinct product and services lines, including Pump and pumping equipment, Air and gas compressors and Measuring and dispensing pumps, heat pumps and other. Pump and pumping equipment is the largest segment of the Pump & Compressor Manufacturing in Canada.
Trends and Insights
Sales of pumps and pump equipment falters slightly amid declining industrial activity
- The pump and pump equipment segment includes a range of goods, like centrifugal pumping systems, water systems, turbines, rotaries and oil well pumps, among others.
- More insights available in the full report
Widen you competitive advantage with related industries
Competitors
- Heating & Air-Conditioning Equipment Manufacturing in Canada
- Power Tools & Other General-Purpose Machinery Manufacturing in Canada
- Auto Parts Manufacturing in Canada
- Medical Instrument & Supply Manufacturing in Canada
Complementors
- Tractors & Agricultural Machinery Manufacturing in Canada
International industries
- Pump & Compressor Manufacturing in the US
- Air & Gas Compressor Manufacturing in the US
- Industrial Spraying Equipment Manufacturing in the US
- Pump and Compressor Manufacturing in Australia
- Pump Manufacturing in the UK
Table of Contents
About this industry
Industry definition
This industry manufactures and sells pumps and air and gas compressors to various industrial markets. Some industry products are meant for general use while others are designed for application in specific markets, such as oil and gas services. This industry does not manufacture fluid power pumps, pumps for motor vehicles or air-conditioning compressors.
What's included in this industry?
Manufacturing oil well and oil field pumpsManufacturing general-use industrial pumpsManufacturing air and gas compressorsManufacturing dispensing and measuring pumps (i.e. for gasoline stations)Companies
Enerflex Ltd.Sulzer Ltd.Albany Pump Company Ltd.Purchase this report to view all 4 major companies in this industry.
Related Terms
CENTRIFUGAL PUMPSUMP PUMPHYDRAULIC FRACTURINGNATURAL GAS LIQUEFACTIONLNG, CNG AND RNGIndustry Code
NAICS 333910 - Pump & Compressor Manufacturing in Canada
Performance
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Analyst insights
Oil price fluctuations increase volatility. Pump and compressor manufacturers contend with inherent volatility, given their reliance on oil and gas markets. However, oil pric...
In this chapter (4)
- Current Performance
- Outlook
- Volatility
- Life Cycle
Key metrics
- Annual Revenue, Recent Growth, Forecast, Revenue Volatility
- Number of Employees, Recent Growth, Forecast, Employees per Business, Revenue per Employee
- Number of Businesses, Recent Growth, Forecast, Employees per Business, Revenue per Business
- Total Profit, Profit Margin, Profit per Business
Charts
- Revenue, including historical (2013-2022) and forecast (2023-2028)
- Employees, including historical (2013-2022) and forecast (2023-2028)
- Businesses, including historical (2013-2022) and forecast (2023-2028)
- Profit, including historical (2013-2023)
- Industry Volatility vs. Revenue Growth
- Industry Life Cycle
Detailed analysis
- Trends in supply, demand and current events that are driving current industry performance
- Expected trends, economic factors and ongoing events that drive the industry's outlook
- Key success factors for businesses to overcome volatility
- How contribution to GDP, industry saturation, innovation, consolidation, and technology and systems influence the industry's life cycle phase.
Products and Markets
Learn about an industry's products and services, markets and trends in international trade.
Analyst insight
The oil and gas market is volatile but rising in importance. Despite its penchant for volatility, given its nature as a commodity driven market, oil and gas activity has incr...
In this chapter
- Products & Services
- Major Markets
- International Trade
Key metrics
- Largest market segment and value in 2023
- Product innovation level
- Total imports, level and trend
- Total exports, level and trend
- Trade Balance
Charts
- Products & services segmentation in 2023
- Major market segmentation in 2023
- International trade, including imports by country and exports by country
Detailed analysis
- Trends impacting the recent performance of the industry's various segments
- Innovations in the industry's product or service offering, specialization or delivery method
- Key factors that successful businesses consider in their offerings
- Buying segments and key trends influencing demand for industry products and services
- Recent trends in import and export volumes, country of origin or destination, and expected future trends
Geographic Breakdown
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Analyst insights
Cities and densely-populated provinces provide a wider array of potential markets. In more densely-populated areas, manufacturers have a greater pool of potential clients, ra...
In this chapter (1)
- Business Locations
Charts
- Share of revenue, establishment, wages and employment in each province
- Share of population compared to establishments in each region in 2023
Tables
- Number and share of establishments in each province in 2023
- Number and share of revenue each province accounts for in 2023
- Number and share of wages each province accounts for in 2023
- Number and share of employees in each province in 2023
Detailed analysis
- Geographic spread of the industry across North America, and trends associated with changes in the business landscape
- Key success factors for businesses to use location to their advantage
Competitive Forces
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.
Analyst insights
Competition is based equally on price and quality. Pumps and compressors are used in a range of downstream markets, including energy extraction and transportation, which are ...
In this chapter (4)
- Concentration
- Barriers to Entry
- Substitutes
- Buyer & Supplier Analysis
Key metrics
- Industry concentration level
- Industry competition level and trend
- Barriers to entry level and trend
- Substitutes level and trend
- Buyer power level and trend
- Supplier power level and trend
Charts
- Market share concentration among the top 4 suppliers from 2018-2023
- Supply chain including upstream supplying industries and downstream buying industries, flow chart
Detailed analysis
- Factors impacting the industry’s level of concentration, such as business distribution, new entrants, or merger and acquisition activity.
- Key success factors for businesses to manage the competitive environment of the industry.
- Challenges that potential industry entrants face such as legal, start-up costs, differentiation, labor/capital intensity and capital expenses.
- Key success factors for potential entrants to overcome barriers to entry.
- Competitive threats from potential substitutes for the industry’s own products and services.
- Key success factors for how successful businesses can compete with substitutes.
- Advantages that buyers have to keep favorable purchasing conditions.
- Advantages that suppliers have to maintain favorable selling conditions.
- Key success factors for how businesses can navigate buyer and supplier power.
Companies
Learn about the performance of the top companies in the industry.
Analyst insights
The industry leaders are partnering with related businesses. In 2022, Enerflex announced a partnership with Denbury Inc. and Advanced Resources International to produce a pro...
In this chapter
- Market Share Concentration
- Companies
- Company Spotlights
Charts
- Industry market share by company in 2019 through 2023
- Major companies in the industry, including market share, revenue, profit and profit margin in 2023
- Overview of Enerflex Ltd.'s performance by revenue, market share and profit margin from 2017 through 2023
- Overview of Sulzer Ltd.'s performance by revenue, market share and profit margin from 2017 through 2023
- Overview of Albany Pump Company Ltd.'s performance by revenue, market share and profit margin from 2017 through 2023
- Overview of revenue, market share and profit margin trend for one additional company
Detailed analysis
- Description and key data for Enerflex Ltd., and factors influencing its performance in the industry
- Description and key data for Sulzer Ltd., and factors influencing its performance in the industry
- Description and key data for Albany Pump Company Ltd., and factors influencing its performance in the industry
- Description, key data and performance trends for one additional company
External Environment
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Analyst insights
Many regulations pertain to environmental protection. In the manufacturing process, many byproducts are emitted and disposing of such material is typically highly regulated g...
In this chapter
- External Drivers
- Regulation & Policy
- Assistance
Key metrics
- Regulation & policy level and trend
- Assistance level and trend
Charts
- Regulation & Policy historical data and forecast (2013-2028)
- Assistance historical data and forecast (2013-2028)
Detailed analysis
- Demographic and macroeconomic factors influencing the industry, including Regulation & Policy and Assistance
- Major types of regulations, regulatory bodies, industry standards or specific regulations impacting requirements for industry operators
- Key governmental and non-governmental groups or policies that may provide some relief for industry operators.
Financial Benchmarks
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Analyst insights
Wages are declining at a brisk pace. As more companies invest in automated technologies and unmanned equipment, reliance on a physical workforce is lessening. With many emplo...
In this chapter
- Cost Structure
- Financial Ratios
- Key Ratios
Key metrics
- Profit margin, and how it compares to the sector-wide margin
- Average wages, and how it compares to the sector-wide average wage
- Largest cost component as a percentage of revenue
- Industry average ratios for days' receivables, industry coverage and debt-to-net-worth ratio
Charts
- Average industry operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2023
- Average sector operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2023
- Investment vs. share of economy
Data tables
- Liquidity Ratios (2016-2021)
- Coverage Ratios (2016-2021)
- Leverage Ratios (2016-2021)
- Operating Ratios (2016-2021)
- Assets (2016-2021)
- Liabilities (2016-2021)
- Cash Flow & Debt Service Ratios (2013-2028)
- Revenue per Employee (2013-2028)
- Revenue per Enterprise (2013-2028)
- Employees per Establishment (2013-2028)
- Employees per Enterprise (2013-2028)
- Average Wage (2013-2028)
- Wages/Revenue (2013-2028)
- Establishments per Enterprise (2013-2028)
- IVA/Revenue (2013-2028)
- Imports/Demand (2013-2028)
- Exports/Revenue (2013-2028)
Detailed analysis
- Trends in the cost component for industry operators and their impact on industry costs and profitability
Key Statistics
Industry Data
Data Tables
Including values and annual change:
- Revenue (2013-2028)
- IVA (2013-2028)
- Establishments (2013-2028)
- Enterprises (2013-2028)
- Employment (2013-2028)
- Exports (2013-2028)
- Imports (2013-2028)
- Wages (2013-2028)
Methodology
How are IBISWorld reports created?
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.
What data sources do IBISWorld analysts use?
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:
- Statistics Canada
- Industry Canada
- Canadian Business Patterns
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:
- Industry and trade associations
- Industry federations or regulators
- Major industry players annual or quarterly filings
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.
How does IBISWorld forecast its data?
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.
Frequently Asked Questions
Unlock comprehensive answers and precise data upon purchase. View purchase options.
What is the market size of the Pump & Compressor Manufacturing industry in Canada in 2024?
The market size of the Pump & Compressor Manufacturing industry in Canada is $2.4bn in 2024.
How many businesses are there in the Pump & Compressor Manufacturing in Canada industry in 2023?
There are 163 businesses in the Pump & Compressor Manufacturing industry in Canada, which has declined at a CAGR of 2.0 % between 2018 and 2023.
Has the Pump & Compressor Manufacturing industry in Canada grown or declined over the past 5 years?
The market size of the Pump & Compressor Manufacturing industry in Canada has been declining at a CAGR of 3.9 % between 2018 and 2023.
What is the forecast growth of the Pump & Compressor Manufacturing industry in Canada over the next 5 years?
Over the next five years, the Pump & Compressor Manufacturing industry in Canada is expected to decline.
What are the biggest companies in the Pump & Compressor Manufacturing market in Canada?
The biggest companies operating in the Pump & Compressor Manufacturing market in Canada are Enerflex Ltd., Sulzer Ltd. and Albany Pump Company Ltd.
What does the Pump & Compressor Manufacturing in Canada include?
Manufacturing oil well and oil field pumps and Manufacturing general-use industrial pumps are part of the Pump & Compressor Manufacturing industry.
Which companies have the highest market share in the Pump & Compressor Manufacturing in Canada?
The company holding the most market share in Canada is Enerflex Ltd..
How competitive is the Pump & Compressor Manufacturing industry in Canada?
The level of competition is high and increasing in the Pump & Compressor Manufacturing industry in Canada.
