In 2023, the import of electrical control and distribution boards for a voltage not exceeding 1 kV to Canada stood at 1.89 billion USD. Forecasted growth from 2024 to 2028 shows consistent year-on-year increases, starting at 1.9338 billion USD in 2024 and reaching 2.104 billion USD by 2028. This represents a compound annual growth rate (CAGR) of approximately 2.14% over the five-year forecast period.
Future trends to watch for include:
- Adoption of renewable energy sources and smart grid technologies, which may influence the demand for advanced electrical control systems.
- Regulatory changes and technological innovations impacting the electrical industry, potentially leading to increased imports.
