The forecast for millwork closing inventories in Canada indicates a consistent upward trend from 2024 to 2028, growing from 1.0646 to 1.1943 billion Canadian dollars. Comparing this to the 2023 figures, there is a yearly growth rate forecasted at approximately 3% to 3.5%. The compound annual growth rate (CAGR) over this period is projected to be approximately 2.9%.
Future trends to watch for include:
- Potential volatility in demand due to shifts in the construction industry.
- Economic factors such as interest rates and housing market conditions impacting inventory levels.
- Technological advancements in manufacturing influencing operational efficiencies and inventory management.
