Household appliance manufacturing expenses in Canada have significantly declined over the past decade, from CAD 981.14 million in 2013 to CAD 408.35 million in 2023. This represents a steady decrease driven by a series of year-on-year fluctuations, with prominent reductions especially between 2013 and 2015. In recent years, the year-on-year changes were -6.83% in 2022 and -7.26% in 2023. The five-year CAGR from 2018 to 2023 is -7.41%.
Looking ahead, forecasts indicate a continued decrease with expenses reaching CAD 253.28 million by 2028, representing a five-year CAGR of -7.63%. The overall decrease from 2024 to 2028 is anticipated to be -32.77%.
Future trends to watch for:
- Increased automation and technological advancements in manufacturing processes.
- Shifts in consumer demand towards smart and energy-efficient appliances.
- Potential impacts of regulatory changes and trade policies.
