In 2023, the business enterprise R&D expenditure in the manufacture of fabricated metal products (excluding machinery and equipment) in Canada stood at 266.5 million USD PPP. Forecasted data indicates a steady increase over the next few years: growth rates are modest, with a year-on-year percentage increase of around 0.61% from 2024 to 2025, 0.49% from 2025 to 2026, 0.39% from 2026 to 2027, and 0.31% from 2027 to 2028. The compound annual growth rate (CAGR) from 2024 to 2028 is approximately 0.36%.
Future trends to watch for include:
- The impact of technological advancements on R&D spending in this sector.
- Changes in international trade policies affecting material costs and R&D priorities.
- Potential governmental incentives influencing R&D investments.
