Key Market Indicators
The import of electrical equipment in Canada is projected to reach approximately $48.7 billion by 2028, up from $46.3 billion in 2023. This represents an average annual growth rate of 0.8%. The demand for electrical equipment in the country has been on a steady rise, with an average annual increase of 0.7% since 1994. In contrast, the export of Canadian electrical equipment is expected to decrease to around $12.7 billion by 2028, down from $13 billion in 2023. This marks an average annual decline of 0.4%. Since 1994, the supply of electrical equipment for export from Canada has been experiencing a yearly reduction of 0.4%. These trends highlight a growing domestic demand for electrical equipment, while the international market for Canadian electrical exports is facing challenges.
