The import of non-longitudinally welded steel line pipes for oil or gas pipelines into Canada is forecasted to slightly decrease from 2024 to 2028. The values decline from 17.112 million kilograms in 2024 to 16.983 million kilograms in 2028. In 2023, imports stood at 17.145 million kilograms, with minor year-on-year decreases projected through 2028. The anticipated five-year compound annual growth rate (CAGR) from 2024 to 2028 is negative, indicating a gradual reduction.
- Year-on-year variations show a consistent marginal decline.
- The CAGR for 2024-2028 is expected to be negative.
Future trends to watch include changes in oil and gas demand, potential shifts in energy policy favoring renewable sources, and potential impacts from tariffs or trade agreements affecting steel imports. Economic conditions and technological advancements in oil and gas extraction may also influence future import volumes.
