Based on the forecast data, imports of gearing, ball screws, speed changers, and torque converters to Canada are projected to steadily increase from 2024 to 2028. The figures indicate a consistent year-on-year growth, with an average annual increase of nearly 2.1%.

In 2023, the import value for these products was approximately $1.55 billion. The forecast exhibits a compound annual growth rate (CAGR) of around 2.1% from 2024 through 2028, demonstrating a gradual upward trajectory for the market. This consistent growth suggests a stable demand for these components within Canada.

Future trends to watch for include:

Potential technological advancements in automation and machinery, driving further demand.
Possible impacts of trade policies and international agreements on import tariffs and regulations.
Market competition and innovations in alternative technologies that could affect import rates.