The sales of power tools in non-store retailing in Canada have shown significant growth from 2013 to 2023, standing at 68.77 million CAD in 2023. Starting from a value of 15.01 million CAD in 2013, the market has experienced robust fluctuations, with notable growth spurts in 2016 (51.66%) and modest declines in later years, such as a diminishment of -0.37% in 2022. The five-year CAGR leading up to 2023 was 4.98%, indicating consistent moderate growth.
Key points:
- 2014: Year-on-year growth: 10.49%
- 2016: Year-on-year growth: 51.66%
- 2017: Year-on-year growth: -0.5%
- 2018: Year-on-year growth: 4.18% (CAGR 29.15%)
- 2019: Year-on-year growth: 5.72% (CAGR 28.02%)
- 2020: Year-on-year growth: 10.57% (CAGR 12.94%)
- 2021: Year-on-year growth: 4.94% (CAGR 4.92%)
- 2022: Year-on-year growth: -0.37% (CAGR 4.95%)
- 2023: Year-on-year growth: 4.32% (CAGR 4.98%)
Looking forward, the forecasted data predicts continued growth with a five-year CAGR of 2.76%, translating to an anticipated growth rate of 14.59% by 2028, reaching 82.31 million CAD. Future trends to watch include technological advancements in power tools, increasing consumer preference for online purchasing, and the potential impact of economic fluctuations on discretionary spending.
