The value added of material handling equipment manufacturing in Canada for 2024 is forecasted to be 2.24 billion CAD. This represents a notable increase from its standing at 2.12 billion CAD in 2023. Over the next five years, the forecast indicates a consistent upward trend, with values reaching 2.65 billion CAD by 2028. The year-on-year variations show the following percentage increases: from 2024 to 2025, 4.68%; from 2025 to 2026, 4.43%; from 2026 to 2027, 4.20%; and from 2027 to 2028, 3.99%. The compound annual growth rate (CAGR) over this period is approximately 4.32%.
Future trends to watch for include advancements in automation and robotics within the material handling sector, increasing investments in smart warehouse solutions, and the influence of e-commerce growth on material handling equipment demand. Additionally, sustainability trends may drive the development of more energy-efficient and environmentally friendly equipment, influencing market dynamics in the years ahead.
