The re-import of gas turbine engines exceeding 5000 kW to Canada was valued at approximately 3.6347 million USD in 2024, marking the start of a slight declining trend over the forecast period. Each subsequent year saw a gradual year-on-year decrease, reflecting a consistent downward trajectory: 1.22% in 2025, 1.21% in 2026, 1.20% in 2027, and 1.19% in 2028. The Compound Annual Growth Rate (CAGR) indicates a moderate average decrease of around 1.20% each year over the five-year period.
Future trends to watch for:
- Technological advancements that could increase the efficiency and attractiveness of gas turbines.
- Policy changes impacting re-importation tariffs or incentives aimed at clean energy investment.
- Global market shifts, particularly in the energy and manufacturing sectors that may affect the demand for gas turbines.
- Emerging competition from other power generation technologies like renewables which might further impact future trends.
