The import of electrical lighting or signalling equipment to Canada was valued at $1.73 billion in 2023. Forecasts indicate a progressive increase over the next five years, increasing to $1.92 billion by 2028. This represents a year-on-year growth of approximately 2.4% to 2.1% during the forecast period, with a compound annual growth rate (CAGR) of around 2.1%.
Future trends to watch for include:
- Technological advancements in energy-efficient LED lighting.
- Increased demand driven by infrastructure developments and smart city initiatives.
- Impact of trade policies and exchange rate fluctuations on import dynamics.
