In 2023, the re-import of hydraulic presses for working metal to Canada stood at a baseline value. Forecasted values show a consistent decline from 2024 through 2028, with a year-on-year decrease of approximately 10-12%. Specifically, values are expected to decrease from 19 in 2024 to 11 in 2028. This depicts a clear downward trend over this period. The Compound Annual Growth Rate (CAGR) for these five years further underscores the average annual decline.
Future trends to watch for include potential technological advancements that could alter demand and supply dynamics. Factors such as changes in trade policies, domestic production capacity, and global market shifts may impact the re-import volumes and alter this forecast.
