The forecast for total internal R&D personnel in the manufacture of basic iron and steel and casting of iron and steel in Canada shows a declining trend from 2024 to 2028. In 2024, the personnel count is forecasted at 103, dropping down to 59 by 2028. Over this period, the year-on-year decline appears significant, with reductions exceeding 10% annually. The compound annual growth rate (CAGR) reflects an average decrease in personnel count each year over the five-year period.
Future trends to watch for include advancements in automation and technology that may reduce the need for R&D personnel. Additionally, industry shifts towards sustainable practices and materials may influence human resource requirements.
