The import of refrigerators and freezers to Canada has shown fluctuations over the years with periods of growth and slight declines. In 2023, the value stood at approximately 1.6579 billion USD. The year-on-year variation for 2023 was a modest increase of 1.74%, while the compound annual growth rate (CAGR) over the last five years was 1.16%. From 2024 onwards, the import value is forecasted to grow, reaching 1.8081 billion USD by 2028, with a forecasted 5-year CAGR of 1.34% and an overall growth rate of 6.9% over the period.
Future trends to watch for:
- Advances in energy-efficient refrigeration technology may spur demand.
- Economic factors and exchange rate fluctuations could impact import values.
- Changes in consumer preferences and sustainability trends may influence the market.
