In 2023, the value added of fabricated metal product manufacturing in Canada was approximately 21.5 billion Canadian dollars. Forecasts show a steady growth from 2024 to 2028, reaching 23.315 billion by 2028. Year-on-year growth rates indicate a consistent upward trend, with annual increases around 1.7%. This suggests a positive outlook for the industry with a five-year compound annual growth rate (CAGR) of approximately 1.7%, reflecting moderate but stable growth.
Future trends to watch for include:
- Technological advancements improving manufacturing efficiency.
- Trade policies impacting import/export dynamics.
- Shifts in demand from key sectors such as construction and automotive.
