In 2023, the actual value of re-import of bearing parts to Canada was $12.93 million USD. The data from 2024 onward represents forecast values with a consistent upward trend over the five years. From 2024 to 2028, the forecasted values show annual increases of approximately 2% over the previous year, indicating a healthy steady growth.

Notably, the Compound Annual Growth Rate (CAGR) for the 2024-2028 period stands at about 1.9% per year. This reflects a stable and positive growth trajectory in the re-import of bearing parts over the longer term.

Future trends to watch for include:

Potential disruptions in global supply chains which could impact import volumes.
Technological advancements in bearing manufacturing potentially reducing the need for re-imports.
Currency fluctuations affecting the cost-effectiveness of re-importing parts.