In 2023, Canada imported electric motors of an output not exceeding 37.5 watts at a value of approximately $24.00 thousand. Forecast data from 2024 to 2028 show a gradual increase in re-import values from $24.18 thousand in 2024 to $25.07 thousand in 2028, indicating a stable annual growth. The year-on-year percentage increase remains consistently around 0.95% to 1.05% per year, demonstrating a slow yet steady demand growth for this category of electric motors in the Canadian market.
Over the five-year forecast period, the compound annual growth rate (CAGR) is about 0.87%, which underscores a modest but continuous expansion in the re-import market.
Future trends to watch include:
- Technological advancements in electric motors that could increase demand.
- Potential trade policy changes affecting import tariffs or regulations.
- Environmental policies driving the use of energy-efficient motors.
