The Motor Vehicle Gasoline Engine and Engine Parts Manufacturing industry in Canada saw fluctuations in revenue over the past decade, peaking at CAD 5.9227 billion in 2018 before dipping in 2020 due to disruptions. By 2023, revenues rebounded to CAD 6.0993 billion. The YoY variation last year marked a growth of 4.73%, and the 5-year CAGR from 2019 to 2023 showed a modest increase of 0.76%.
Future trends to watch for include advances in cleaner gasoline engine technologies and increased focus on hybrid systems. Market players may also witness shifts due to regulatory changes and evolving consumer preferences towards sustainability.
