In 2023, Canada recorded actual imports of electrical relays for a voltage of less than 60 volts at a level of $250. This series shows a forecasted decline from 2024 to 2028, beginning at $245.61 thousand and ending at $220.73 thousand. The year-on-year percentage variations from 2024 to 2028 suggest a minor, steady decrease, indicating a negative trend in re-imports. The compound annual growth rate (CAGR) over these five years is also negative, reflecting a gradual decline in the market.
Future trends to watch for include advancements in electronic manufacturing and potential changes in trade policies, which could influence import dynamics. Additionally, shifts toward sustainable energy solutions may affect the demand for traditional electrical relays.
