The motor vehicles, trailers, and semi-trailers manufacturing sector in Canada is forecasted to expand with a gradual increase in Gross Value Added from CAD 21.78 billion in 2024 to CAD 23.77 billion in 2028. The forecast indicates a steady growth path ahead with an average annual growth rate of approximately 2.2%. As of 2023, the latest actual data shows a GVA of CAD 21.30 billion, suggesting an optimistic trajectory post-2023.

Future trends to watch for:

Electrification of vehicles which may drive innovation and investment in manufacturing.
Impact of global supply chain dynamics on production capacities and costs.
Policy and regulatory changes impacting environmental standards and manufacturing practices.