In 2023, the opening inventories for Engine, Turbine and Power Transmission Equipment Manufacturing in Canada stood at 477.85 million CAD. Over the past two years, we have observed a moderate growth, with year-on-year variations of 1.29% in 2022 and 1.26% in 2023. The overall compound annual growth rate (CAGR) for the past five years stands at 2.27%, indicating a stable upward trend since the significant drop in 2014.
Future trends to watch for include consistent yet modest growth, with a forecasted five-year CAGR of 0.93%, leading to an estimated increase of 4.76% in opening inventories by 2028. Factors such as advancements in technology, global supply chain dynamics, and policy changes will be crucial to monitor, as they could impact future inventory levels and growth rates in this sector.
