SUV & Light Truck Manufacturing in Canada - Industry Market Research Report

Shifting Gears: Supply Shortages Are Expected to Lead to An Increase in Purchasing Costs

Revenue for SUV and light truck manufacturers in Canada is projected to decrease throughout 2023, due to disruptions caused by the COVID-19 pandemic and volatile economic conditions. With the export market accounting for over 50.0% of industry revenue in 2023, of which more than 95.0% is destined for the United States, industry operators are heavily reliant on US economic conditions. Despite a robust economic recovery after the peak of the pandemic, industry production has not fully recovered to the levels exhibited earlier in the period. As a result, the industry has declined at a CAGR of 7.4% over the past five years and is expected to total $34.4 billion in 2023, when revenue will fall by an estimated 0.7%.

This industry manufactures light trucks and utility vehicles, such as vans, pickups, sport-utility vehicles (SUVs) and crossover-utility vehicles (CUVs). The industry also manufactures light truck and utility vehicle chassis. This industry excludes the manufacturing of cars and motorcycles.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry's key players and their market shares.