$1.6bn
$XXX.Xm
4,081
146
$XXX.Xm
Canadian valve manufacturers have had mixed performance over the past five years. Since valves are essential components in a vast range of manufacturing and industrial processes, industry growth tends to fluctuate in line with both domestic and global economic conditions. Reduced industrial production after the collapse in crude oil during the early stages of the pandemic weakened demand for specialized valves from the heavy manufacturing and energy sectors, both of which are key markets for valves. Similarly, rising interest rates and elevated inflation have negatively impacted demand from the residential sector, as the cost of purchasing or building a home is significantly higher than in years prior. Although the industry has faced significant losses in recent years, they have mostly offset the gains that came with higher crude oil prices in 2018, 2021 and 2022. As a result, revenue is forecast to decline at a CAGR of 1.6% to $1.6 billion through the end of 2024, with a decline of 3.1% expected during the current year.
Industry revenue has declined at a CAGR of 0.8 % over the past five years, to reach an estimated $1.6bn in 2024.
Market size is projected to grow over the next five years.
Company | Market Share (%)
2023 | Revenue ($m)
2023 | Profit ($m)
2023 | Profit Margin (%)
2023 |
---|---|---|---|---|
Velan Inc. | 481.6 | -59.6 | -12.4 | |
Bray International Inc. | 13.2 | N/A | N/A |
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Valve Manufacturing in Canada
Industry revenue is measured across several distinct product and services lines, including Industrial valves, Fluid power valves and components and Plumbing fixture fittings and trim (PFFT). Industrial valves is the largest segment of the Valve Manufacturing in Canada.
Fluid power valves and components are highly popular
This Valve Manufacturing industry in Canada manufactures a variety of industrial and fluid power valves, hose fittings and related trimmings. Additional products include metal and plastic plumbing fixtures, such as faucets, flush valves and showerheads.
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NAICS 332910 - Valve 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.
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Producers have become more profitable. This can be attributed to weakening labour and purchase costs, as lower operating costs boost profit.
Including values and annual change:
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Key data sources in Canada include:
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These sources include:
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The market size of the Valve Manufacturing industry in Canada is $1.6bn in 2024.
There are 146 businesses in the Valve Manufacturing industry in Canada, which has declined at a CAGR of 1.9 % between 2019 and 2024.
The market size of the Valve Manufacturing industry in Canada has been declining at a CAGR of 0.8 % between 2019 and 2024.
Over the next five years, the Valve Manufacturing industry in Canada is expected to grow.
The biggest companies operating in the Valve Manufacturing market in Canada are Velan Inc. and Bray International Inc.
Manufacturing industrial-type ball, butterfly, check, gate and globe valves and Manufacturing fluid power aircraft subassemblies are part of the Valve Manufacturing industry.
The company holding the most market share in Canada is Velan Inc..
The level of competition is moderate and steady in the Valve Manufacturing industry in Canada.