From 2013 to 2023, Canada's motor vehicle bumpers and parts market size expressed in USD per Capita has shown an upward trend, growing from $37.31 to $50.6. Notably, 2023 recorded a per capita market value of $50.6. The average annual growth rate over the last five years (CAGR) is approximately 2.82%. Over the last two years, the market has shown a significant resurgence post-2020, growing approximately 10.89% from 2021 to 2023. These figures indicate a robust recovery and continued market expansion.
Future trends to watch for include:
- Technological advancements in bumper materials and design.
- Increased focus on sustainability and recyclable bumper parts.
- Growing demand driven by the automotive industry’s evolution towards electric vehicles.
