The motor vehicle electrical and electronic equipment manufacturing opening inventories in Canada showed significant fluctuations from 2013 to 2023. Starting from a base of CAD 115.28 million in 2013, inventories saw a notable decline in 2014 (-19.96%) before recovering and peaking at CAD 209.01 million in 2023, reflecting a 6.45% year-on-year increase. Over the last two years, the inventories grew by a total of 15.47%, indicating a positive trend despite some variabilities. The Compound Annual Growth Rate (CAGR) for the last five years was 1.05%, suggesting modest average annual growth.
Looking ahead, the opening inventories are forecasted to increase steadily, reaching CAD 241.48 million by 2028 with a five-year CAGR of 2.29% and a total projected growth rate of 11.98% from 2023 to 2028. This indicates a sustained positive outlook for the sector.
Future trends to watch for include advancements in electrical and electronic technology, shifts in consumer demand towards electric vehicles, and potential supply chain disruptions that could impact inventory levels.
