In 2023, the import of electrical fuses for voltage of less than 1 kV to Canada stood at an estimated $32.3 million. The forecasted data for 2024 to 2028 shows a steady increase in imports, starting from $32.441 million in 2024 and reaching $32.774 million in 2028. This gradual growth represents a compound annual growth rate (CAGR) of approximately 0.26% over the forecast period. The year-on-year growth appears modest and consistent, suggesting stable demand in the market.

Future trends to watch for include:

Technological advancements and how they may impact the demand for low voltage fuses.
Changes in regulations or focus on renewable energy and how they could affect the fuse import volumes.
Exchange rate fluctuations impacting the overall cost and supply chain dynamics.