The value-added of motor vehicle steering and suspension components (except spring) manufacturing in Canada shows a steady forecasted growth from 2024 to 2028, reaching 731.18 million Canadian dollars by 2028. In the years leading up to 2024, the industry had positioned itself for recovery and expansion after facing previous challenges typical of advanced manufacturing sectors. Assuming steady underlying market conditions, the compound annual growth rate (CAGR) over the upcoming forecast period signals consistent growth.

Future trends to watch for in this sector include:

The rising adoption of advanced driver-assistance systems (ADAS) that may influence component specifications and requirements.
Shifts toward electric vehicle (EV) production which could lead to demand for technologically specific components.
Potential impacts of trade policies and environmental regulations on the manufacturing sector.