The small electrical appliance manufacturing sector in Canada has shown a fluctuating performance over the past decade. In 2023, the revenue stood at 202.67 million Canadian Dollars. The year-on-year variations indicate that the sector has experienced periods of both growth and decline. Notably, from 2021 to 2023, the revenue showed a modest increase of 4.65% and 4.4% respectively. Considering the historical data, the last five years averaged a CAGR of 5.22%, signaling a positive trend.
Looking forward to the forecasted data from 2024 onwards, growth is anticipated to continue, with a projected average annual growth rate (CAGR) of 2.94% culminating in a total growth rate of 15.62% by 2028. This suggests stable, yet moderate expansion for the industry. Key trends to watch for in the future include technological advancements, shifts in consumer preferences toward high-efficiency and smart appliances, and potential regulatory changes impacting manufacturing practices.
- Revenue in 2023: 202.67 million CAD
- Year-on-Year variation (last two years): 4.65%, 4.4%
- Last 5-Year CAGR: 5.22%
- Forecasted 5-Year CAGR: 2.94%
- Forecasted 5-Year Growth Rate: 15.62%
