Forecast: Motor Vehicles, Trailers and Semi-Trailers Manufacturing Output in Canada

Between 2013 and 2023, the motor vehicles, trailers, and semi-trailers manufacturing sector in Canada saw fluctuations, with standout years like 2016 and 2020. The year-on-year growth has been positive most years, albeit with notable dips, such as the -24.92% downturn in 2020 during the COVID-19 pandemic. Despite this dip, the sector rebounded with an 8.17% increase in 2023, reaching a value of 113.28 billion Canadian dollars. Over the next five years, from 2024 to 2028, the forecasted CAGR stands at 1.96%, indicating steady growth though at a more tempered pace than some of the previous highs.

Future trends to watch for include:

- Technological advancements in electric and autonomous vehicles impacting production methods and demand.

- Shifts in trade policies and supply chain dynamics, particularly with key partners like the U.S. and Mexico.

- Increasing environmental regulations pushing manufacturers towards greener and more sustainable practices.

- Possible market disruptions from emerging markets and new industry players.