The import of metal shaping or slotting machines to Canada has shown fluctuating trends over the past years. In 2023, the import value stood at approximately USD 2.64 million. Year-on-year variations have shown significant volatility, with a 1.96% increase from 2022 to 2023 and an average annual growth rate (CAGR) of 14.77% over the last five years. From 2013 to 2023, the fluctuations were marked with both steep declines and sharp increases, indicating a highly variable market.
Key historical trends indicate substantial changes:
- 2013-2014: A significant increase of approximately 25.35%.
- 2015-2018: After an initial increase, the market experienced steep declines.
- 2019: A remarkable spike with a 113.61% increase.
- 2020-2023: Some stabilization with moderate year-on-year growth.
Looking ahead to 2028, the import value is forecasted to gradually increase to around USD 2.9 million, with an expected average annual growth rate (5-year CAGR) of 1.51%. This indicates a more stable growth trajectory compared to the past.
Future trends to watch for:
- Technological advancements and their impact on demand for modern metal shaping and slotting machines.
- The influence of global supply chain dynamics and trade policies on import volumes.
- Industry-specific growth in Canada driving the need for metal shaping and slotting machinery.
