The electrical equipment manufacturing output in Canada showed fluctuations over the past decade. The data series begins in 2013 with an output of 10.78 billion CAD and decreases in 2014 to 9.7 billion CAD. From 2015 onwards, there is a general upward trend, peaking at 12.36 billion CAD in 2019 before a slight dip in 2020 to 11.56 billion CAD. The industry recovers to 11.78 billion CAD by 2022 and continues modest growth up to 2023, reaching 11.81 billion CAD. Year-on-year variation in 2023 and percentage changes over the last two years reflect minor increases of 0.3% and 0.29% respectively, with a five-year CAGR from 2019 to 2023 at 0.32%.
Forecasts from 2024 to 2028 suggest continued modest growth in electrical equipment manufacturing, with a forecasted 2028 output of 11.98 billion CAD, representing a five-year CAGR of 0.22% and an anticipated growth rate of 1.12%.
Future trends to watch for include potential impacts of technological advancements, changes in trade policies, and the increasing demand for sustainable and energy-efficient products, which may drive further innovation and investment in the sector.
