In 2023, the re-import of electric motors with an output not exceeding 37.5 watts to Canada was valued at approximately 1.53 million USD. The forecast from 2024 to 2028 suggests consistent growth in re-imports, with values increasing gradually each year. Specifically, from 2024 to 2025, the value increases by about 4.05%, and from 2025 to 2026, the growth is roughly 3.81%. A similar trend continues with a year-on-year increase of about 3.60% from 2026 to 2027, reaching an estimated CAGR of around 3.70% over the five-year period to 2028.
Future trends to watch for in this market include:
- Technological advancements improving motor efficiency.
- Increased demand due to Canada's emphasis on renewable energy sources.
- Trade policies and tariff changes that may impact re-importation costs.
