The semiconductor and other electronic component manufacturing opening inventories in Canada stood at 1006.2 million Canadian Dollars in 2023.
From 2014 to 2023, the inventories have shown significant fluctuations. Major increases occurred in 2016 with a 44.27% rise and in 2018 with a 15.97% increase. However, 2020 saw a notable decline of 16.32%. The last two years, 2022 and 2023, witnessed inventories rise by 13.91% and 11.09%, respectively. The compounded annual growth rate (CAGR) over the last five years leading up to 2023 was 6.41%.
Future trends to watch for include the projected steady growth, with a forecasted CAGR of 4.58% from 2024 to 2028, indicating a total growth rate of 25.08% over the next five years. This suggests a continued expansion in the industry driven by increasing demand for semiconductors and electronic components.
