Forecast: Motor Vehicle Parts Manufacturing Revenue in Canada

The motor vehicle parts manufacturing revenue in Canada reached CAD 36.736 billion in 2023 after experiencing substantial fluctuations over the past decade. While the CAGR over the past five years stands at 1.01%, a notable recovery was observed with an 8.24% increase in 2022 and a 5.81% rise in 2023. The projections until 2028 suggest a steady growth with a forecasted CAGR of 1.31%, reaching CAD 39.905 billion in 2028.

For future trends, watch for:

  • Technological advancements in electric vehicles driving demand.
  • Supply chain resilience post-COVID-19 impacts.
  • Global economic conditions influencing exports.
  • Canada's regulatory changes on emissions affecting parts production.

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