The import of hand pumps not designed to measure flow to Canada is forecasted to increase steadily from 2024 to 2028, with values reaching from $61.908 million to $65.784 million. In 2023, the import value was noticeably lower, highlighting a consistent year-on-year growth. The trend indicates a growth of around 1.6% to 1.8% annually, with a compound annual growth rate (CAGR) roughly estimated at 1.75% over the five-year forecast period.
Future trends to watch for include:
- Trade policies and tariffs that could affect import costs and demand.
- Technological advancements in alternative devices that may substitute hand pumps.
- Environmental regulations impacting production and usage.
- Shifts in industrial demand due to economic changes within Canada.