The Canadian manufacturing output is projected to rise steadily from 2024 to 2028, starting at 18.1 billion CAD in 2024, increasing to 18.84 billion CAD by 2028. This represents a consistent year-on-year growth, with the average annual growth rate (CAGR) over this period anticipated to be around 0.98%. In 2023, manufacturing output stood at approximately 17.92 billion CAD, reflecting a noticeable upward trend heading into the forecast period.

Future trends to watch for:

Impact of technological advancements and automation on productivity and output.
Shifts in global trade policies and their influence on Canadian manufacturing exports.
Green manufacturing practices and their adoption in response to environmental regulations.
Supply chain adjustments in response to geopolitical developments and natural disasters.