The forecast for re-import of starter motors to Canada indicates a steady increase from 2024 to 2028, with the value reaching from $20.077 million in 2024 to $23.856 million by 2028. Comparatively, the value was $19.5 million in 2023. This upward trend represents a year-on-year growth of approximately:
- 2024: 2.96%
- 2025: 4.85%
- 2026: 4.53%
- 2027: 4.25%
- 2028: 3.99%
The compound annual growth rate (CAGR) from 2024 to 2028 is approximately 4.11%, reflecting consistent growth in this sector.
Future trends to watch for include technological advancements in starter motor efficiency, potential trade policies affecting import dynamics, and shifts in automotive manufacturing locations that could impact re-import patterns.
