Industry Statistics and Trends
Market size and recent performance (2015-2030)
Industry revenue has grown at a CAGR of 2.6 % over the past five years, to reach an estimated $14.8bn in 2025.
Trends and Insights
Revenue growth and construction demand drive significant financial increases within the industry
- The industry has experienced a noticeable increase in revenue, which expanded at a compound annual growth rate (CAGR) of 2.6% over the past five years, reaching $14.8 billion. The construction market contributes to this financial growth, representing 51.5% of total market demand. As infrastructure projects increase, the need for industry products, such as structural beams and metal frameworks, has intensified, helping drive revenue upwards. The industry's revenue growth is bolstered by the substantial need for transport infrastructure construction, which covers 26.9% of the market. Nonresidential construction's consistent demand, rising at a 2.6% CAGR, has cemented a strong revenue base.
- Additional trends and insights available with purchase
Source: IBISWorld
Industry outlook (2025-2030)
Market size is projected to grow over the next five years.
Trends and Insights
Anticipated trends suggest revenue growth driven by construction demand and efficiency improvements
- The industry revenue is projected to increase at a compound annual growth rate (CAGR) of 2.1% over the next five years, reaching $16.5 billion by 2030. This growth is supported by rising demand in both residential and nonresidential construction markets. The value of nonresidential construction is anticipated to increase at a CAGR of 2.4%, aligning with infrastructure expansion and urban development needs. Similarly, the value of residential construction is set to rise at a 2.3% CAGR, driven by urban expansion and housing demand. Both markets will be significant contributors to the ongoing revenue growth trajectory.
Biggest companies in the Structural Metal Product Manufacturing in Canada
| Company | Market Share (%)
2025 | Revenue ($m)
2025 | Profit ($m)
2025 | Profit Margin (%)
2025 |
|---|---|---|---|---|
4,670.1 | 953.0 | 20.4 |
To view the market share and analysis for all 1 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 Prefabricated metal buildings , Metal plate work products and Other metal plate work and fabricated structural metal products. Prefabricated metal buildings is the largest segment of the Structural Metal Product Manufacturing in Canada.
Trends and Insights
Prefabricated metal buildings significantly contribute to industry revenue
- Prefabricated metal buildings are factory-built structures that are then transported and assembled on-site. This segment holds a notable market share, driven by its efficiency and cost-effectiveness in construction. Prefabricated metal buildings are valued for their assembly speed, significantly reducing construction timelines. They are widely used in various markets, such as industrial facilities, commercial spaces and agricultural buildings. The adaptability and customization options of prefabricated structures enhance their appeal and utility across diverse projects.
- More insights available in the full report
Table of Contents
About this industry
Industry definition
The industry manufactures a variety of structural metal products for use in building and infrastructure construction. These include fabricated bar joists, concrete reinforcing bars, metal plate work, railway sections and structural panels for bridges, boats and ships.
What's included in this industry?
Prefabricated metal buildingsMetal plate work productsOther metal plate work and fabricated structural metal productsConcrete reinforcing barsCompanies
NucorPurchase this report to view all 1 major companies in this industry.
Related Terms
I-BEAMTENSILE STRENGTHBEVELIndustry Code
NAICS 33231 - Structural Metal Product 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
The industry's revenue has been steadily rising over the past five years. Decreasing labour fees have contributed significantly to profit growth within the industry, specific...
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 (2015-2024) and forecast (2025-2030)
- Employees, including historical (2015-2024) and forecast (2025-2030)
- Businesses, including historical (2015-2024) and forecast (2025-2030)
- Profit, including historical (2015-2025)
- 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
Prefabricated metal buildings and fabricated structural components constitute a significant portion of the industry's output. Metal plate work products and concrete reinforci...
In this chapter
- Products & Services
- Major Markets
- International Trade
Key metrics
- Largest market segment and value in 2025
- Product innovation level
- Total imports, level and trend
- Total exports, level and trend
- Trade Balance
Charts
- Products & services segmentation in 2025
- Major market segmentation in 2025
- 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
Ontario and Alberta host most of the industry's business locations, indicating significant concentration. Ontario benefits from its proximity to large urban centers, while Al...
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 2025
Tables
- Number and share of establishments in each province in 2025
- Number and share of revenue each province accounts for in 2025
- Number and share of wages each province accounts for in 2025
- Number and share of employees in each province in 2025
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
The industry exhibits low market concentration, allowing numerous companies to participate in metal product manufacturing. This absence of dominance by a few companies promot...
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 2020-2025
- 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
Consolidation trends within the industry signify increased market concentration over time. Larger companies are acquiring smaller ones specializing in niche structural fabric...
In this chapter
- Market Share Concentration
- Companies
- Company Spotlights
Charts
- Industry market share by company in 2021 through 2025
- Major companies in the industry, including market share, revenue, profit and profit margin in 2025
- Overview of Nucor's performance by revenue, market share and profit margin from 2019 through 2025
Detailed analysis
- Description and key data for Nucor, and factors influencing its performance in the industry
External Environment
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Analyst insights
In 2018, the industry faced significant regulatory updates, primarily through amendments to the Canadian Occupational Health and Safety Regulations and the Canadian Environmen...
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 (2015-2030)
- Assistance historical data and forecast (2015-2030)
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
Purchases of raw materials like steel and wages for skilled labour comprise the largest cost segments in the industry. The focus on material costs and labour represents prima...
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 2025
- Average sector operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2025
- Investment vs. share of economy
Data tables
- Liquidity Ratios (2018-2023)
- Coverage Ratios (2018-2023)
- Leverage Ratios (2018-2023)
- Operating Ratios (2018-2023)
- Assets (2018-2023)
- Liabilities (2018-2023)
- Cash Flow & Debt Service Ratios (2015-2030)
- Revenue per Employee (2015-2030)
- Revenue per Enterprise (2015-2030)
- Employees per Establishment (2015-2030)
- Employees per Enterprise (2015-2030)
- Average Wage (2015-2030)
- Wages/Revenue (2015-2030)
- Establishments per Enterprise (2015-2030)
- IVA/Revenue (2015-2030)
- Imports/Demand (2015-2030)
- Exports/Revenue (2015-2030)
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 (2015-2030)
- IVA (2015-2030)
- Establishments (2015-2030)
- Enterprises (2015-2030)
- Employment (2015-2030)
- Exports (2015-2030)
- Imports (2015-2030)
- Wages (2015-2030)
Top Questions Answered
Unlock comprehensive answers and precise data upon purchase. View purchase options.
What is the market size of the Structural Metal Product Manufacturing industry in Canada in 2025?
The market size of the Structural Metal Product Manufacturing industry in Canada is $14.8bn in 2025.
How many businesses are there in the Structural Metal Product Manufacturing in Canada industry in 2025?
There are 1,449 businesses in the Structural Metal Product Manufacturing industry in Canada, which has grown at a CAGR of 0.6 % between 2020 and 2025.
Has the Structural Metal Product Manufacturing industry in Canada grown or declined over the past 5 years?
The market size of the Structural Metal Product Manufacturing industry in Canada has been growing at a CAGR of 2.6 % between 2020 and 2025.
What is the forecast growth of the Structural Metal Product Manufacturing industry in Canada over the next 5 years?
Over the next five years, the Structural Metal Product Manufacturing industry in Canada is expected to grow.
What are the biggest companies in the Structural Metal Product Manufacturing market in Canada?
The biggest company operating in the Structural Metal Product Manufacturing market in Canada is Nucor
What does the Structural Metal Product Manufacturing in Canada include?
Prefabricated metal buildings and Metal plate work products are part of the Structural Metal Product Manufacturing industry.
Which companies have the highest market share in the Structural Metal Product Manufacturing in Canada?
The company holding the most market share in Canada is Nucor.
How competitive is the Structural Metal Product Manufacturing industry in Canada?
The level of competition is moderate and increasing in the Structural Metal Product Manufacturing industry in Canada.
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Methodology
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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.
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