The value-added of major appliance manufacturing in Canada witnessed significant fluctuations over the past decade. From a high of 272.91 million CAD in 2013, the industry experienced sharp declines, particularly notable in 2014 with a 46.3% drop and another 26.91% decline in 2015. This was followed by a period of volatility with moderate gains and losses. By 2023, the value stood at 127.79 million CAD, showing a slight 3.55% year-on-year increase.
- Over the past five years, the CAGR from 2018 to 2023 reflected a -3.63%, indicating a gradual contraction in the industry.
- The forecasted data from 2024 to 2028 projects a steady decline with a 5-year CAGR of -1.21%, suggesting a deceleration in growth and a 5.9% decrease overall.
Future trends to watch for include advancements in technology, shifts in consumer preferences towards energy-efficient appliances, and potential impacts of trade policies. Monitoring these trends could provide insights into opportunities for growth and innovation in the Canadian market for major appliances.
