The Canadian passenger car market rose slightly to $34.1B in 2024, increasing by 2.2% against the previous year. The market value increased at an average annual rate of +2.3% from 2012 to 2024; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Passenger car consumption peaked in 2024 and is expected to retain growth in years to come.

Comprehensive dataset of 68 Vehicle exporters in Canada as of June, 2025. Includes verified contact information (email, phone), geocoded addresses, customer ratings, reviews, business categories, and operational details. Perfect for market research, lead generation, competitive analysis, and business intelligence. Download a complimentary sample to evaluate data quality and completeness.

The Canadian non-propelled vehicle market rose significantly to $173M in 2024, picking up by 6.8% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption showed a relatively flat trend pattern.

After three years of growth, the Canadian market for motor vehicles for travelling on snow or golf cars decreased by -40.9% to $203M in 2024. Overall, consumption continues to indicate a relatively flat trend pattern. Over the period under review, the market attained the peak level at $344M in 2023, and then contracted notably in the following year.

Auto parts manufacturers build miscellaneous parts and equipment, including exhaust systems, airbags, heating, ventilation, air conditioning systems (HVAC) and filtration devices. Manufacturers faced significant challenges during the COVID-19 pandemic, with social distancing significantly reducing travel and weakening the manufacturing sector, causing revenue to contract. However, mass exoduses back to work and greater economic stability have encouraged consumers to drive more, creating greater demand for new and used cars and repairs and indirectly boosting demand for auto parts manufacturers. Even so, climbing interest rates have threatened the entire automobile manufacturing supply chain, with higher borrowing and auto loan costs stifling new car sales. Overall, revenue has climbed at an expected CAGR of 1.2% to $7.9 billion through the current period, including a 1.9% jump in 2024, where profit reached 8.7%. Canadian auto parts manufacturers endured significant supply chain volatility following the pandemic and the Russian invasion of Ukraine. Higher input costs limited profit growth in 2022 and 2023, especially after skyrocketing steel and semiconductor prices. Offshoring trends have also battered auto parts manufacturers; low wages in Mexico and China have encouraged massive offshoring. Similarly, competition from countries with advanced technology, manufacturing and automotive sectors has overwhelmed Canadian producers, leading to significant import penetration and market saturation. Canadian auto parts manufacturers will benefit from strong economic conditions through the outlook period. Stable economic growth and muted inflation will support consumer confidence and real incomes, boosting car sales. Average vehicle age will also increase, supporting aftermarkets, specifically demand for repairs on existing vehicles. The Canadian dollar will also depreciate, boosting exports and partially counteracting offshoring trends from the past decade. Electric and autonomous vehicles, alongside other safety and sustainability innovations, will also create more niche markets for auto parts manufacturers. Overall, revenue for auto parts manufacturers will rebound at an expected CAGR of 1.4% to $8.5 billion through the outlook period, where profit will reach 8.7%.

The Canadian vehicle radio market declined to $105M in 2024, which is down by -9.7% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption saw a abrupt downturn. Vehicle radio consumption peaked at $277M in 2013; however, from 2014 to 2024, consumption stood at a somewhat lower figure.

Canada Customs Brokerage Market size was valued at USD 738.6 Billion in 2024 and is. Projected to reach USD 930 Billion by 2032, growing at a CAGR of 5.9% from 2025 to 2032.

Key Market Drivers: Increase in International Trade Volume: Canada’s overall goods trade (imports plus exports) has grown significantly, increasing demand for customs brokerage services. According to Statistics Canada, overall goods trade will reach CAD 1.39 trillion in 2023, up 15.2% from 2019 levels. This increased commerce volume necessitates more customs clearance and documentation services. Increasing E-Commerce Cross-border Shipments: The advent of e-commerce has resulted in a huge increase in tiny parcel shipments that require customs clearance. According to the Canada Post 2022 E-commerce Report, cross-border e-commerce shipments to Canada increased by 47% between 2019 and 2022, with more than 54% of Canadian online buyers purchasing from overseas suppliers. This has increased the demand for customs brokers who can manage a large number of minor shipments. Complex Regulatory Environment and Free Trade Agreements: Global Affairs Canada reports that Canada has 15 active free trade agreements that encompass 51 countries as of 2023. Each agreement specifies the rules of origin, tariff treatments, and documentation requirements. Customs brokers are vital for compliance due to the intricacy of these agreements and the frequency with which regulations change. For example, after the adoption of CUSMA (the new NAFTA), the Canada Border Services Agency recorded a 32% increase in requests for advance judgments on origin and tariff classification in 2021 compared to 2019.

Auto parts manufacturers build miscellaneous parts and equipment, including exhaust systems, airbags, heating, ventilation, air conditioning systems (HVAC) and filtration devices. Manufacturers faced significant challenges through the current period, with the COVID-19 pandemic, inflationary pressures and supply chain disruptions eroding underlying conditions for auto parts production. Similarly, new tariff policies threaten supply chains while potentially making domestic auto parts more attractive. However, this will likely come at the cost of less favorable exchange rates and retaliations, limiting revenue from export markets in Canada and Mexico. Overall, revenue for auto parts manufacturers has stabilized at an expected CAGR of 1.5% to $ 70.8 billion through the current period, including a 0.8% spike in 2025, where profit reached 5.5%. Auto parts manufacturers also endured significant supply chain volatility following the pandemic and the Russian invasion of Ukraine. Skyrocketing steel and semiconductor prices limited profit growth, especially in 2021, though prices have started to normalize. Once again, tariffs threaten supply chains, potentially leading to a new wave of costs. Offshoring trends have also battered auto parts manufacturers; low wages in Mexico and China have encouraged massive offshoring. Similarly, competition from countries with advanced technology, manufacturing and automotive sectors, like Japan, South Korea and Germany, has added to foreign pressure for producers, leading to significant import penetration and market saturation. Auto parts manufacturers will benefit from an economic resurgence during the outlook period. Stable economic growth and muted inflation will support consumer confidence and real incomes, boosting car sales. Average vehicle age will also increase, supporting aftermarkets, specifically demand for repairs on existing vehicles. However, the dollar may appreciate further, driven my protectionist trade policies. Electric and autonomous vehicles, alongside other safety and sustainability innovations, will also create more niche markets for auto parts manufacturers. Overall, revenue for auto parts manufacturers will expand at an expected CAGR of 1.8% to $77.5 billion through the outlook period.

Automobile steering and suspension manufacturers primarily produce and rebuild motor vehicle steering and suspension systems and components, including steering wheels, shock absorbers and struts. Manufacturers faced significant challenges through the current period, with the COVID-19 pandemic, inflationary pressures and supply chain disruptions eroding some growth opportunities for cars and related parts. Similarly, new tariff policies threaten supply chains while potentially making domestic auto parts more attractive. However, this will likely come at the cost of less favorable exchange rates and retaliations, limiting revenue from export markets in Canada and Mexico. Similarly, global supply chain disruptions led to notable profit volatility as companies struggled to source materials and pass unexpected costs onto buyers. Overall, revenue expanded at an expected CAGR of 1.9% to $17.7 billion through the current period, despite a 3.8% drop in 2025, when profit will reach 3.5%. Offshoring trends have also battered auto parts manufacturers; low wages in Mexico and China have encouraged massive offshoring. Similarly, competition from countries with advanced technology, manufacturing and automotive sectors, like Japan, South Korea and Germany, has added to foreign pressure for producers, leading to significant import penetration and market saturation. However, innovation across the automotive sector has created demand for advanced products to support the development of electric and autonomous vehicles. These products require more complex designs, often resulting in close collaboration between the industry and vehicle manufacturers. This trend has helped to shield domestic producers from increasing foreign pressure; even so, imports have satisfied an increasing portion of domestic demand, especially for low-cost, generic parts. Rebounding economic conditions, highlighted by normalizing interest rates, will contribute to the industry's continued expansion through the outlook period. However, the dollar may appreciate further, driven by protectionist trade policies. Electric and autonomous vehicles, alongside other safety and sustainability innovations, will also create more niche markets for auto parts manufacturers. Government spending on public transportation and electric vehicles will also create demand for new vehicles, contributing to elevated demand for related steering and suspension parts. Overall, revenue will climb at an estimated CAGR of 1.3% to $18.9 billion through the outlook period, where profit will settle at 3.6% of revenue.

Vehicle speed indicators imports into Canada totaled X units in 2017, descending by -X% against the previous year. Overall, vehicle speed indicators imports continue to indicate a significant curtailment. The pace of growth was the most pronounced in 2010, when the imports increased by X% from the previous year. Canada imports peaked of X units in 2012; however, from 2013 to 2017, it failed to regain its strength.In value terms, vehicle speed indicators imports amounted to $X in 2017.

Canada's total Exports in 2024 were valued at US$569.17 Billion, according to the United Nations COMTRADE database on international trade. Canada's main export partners were: the United States, China and the United Kingdom. The top three export commodities were: Mineral fuels, oils, distillation products; Vehicles other than railway, tramway and Machinery, nuclear reactors, boilers. Total Imports were valued at US$558.45 Billion. In 2024, Canada had a trade surplus of US$10.72 Billion.

Truck, trailer and motor home manufacturers have diverse and varied product offerings across multiple consumer and commercial markets. Recreational vehicles (RVs) and motor homes are often big-ticket discretionary purchases, so this segment relies on low interest rates, high consumer confidence and strong per capita disposable income. In 2020, demand increased for RVs as Canadians adjusted vacation plans amid the COVID-19 pandemic; RVs offered many consumers socially distant vacation options, leading to elevated demand despite severe economic volatility. Conversely, trailer markets surged amid skyrocketing e-commerce demand, offsetting uncertainty in RV and vehicle body production. Overall, revenue climbed at an expected CAGR of 0.6% to $5.7 billion through the current period, including a 0.6% jump in 2024, where profit reached 6.3%. Trade is also an integral component of the industry. The Canadian dollar's appreciation poses a major threat to domestic manufacturers. In particular, buyers have increasingly imported products from Mexico; many international manufacturers have also relocated to Mexico to take advantage of lower production and labour costs. Regardless, Canadian manufacturers have maintained strong trade markets, leading to export growth. Companies also faced major supply chain shortages; climbing metal and electronic component costs pressured purchasing costs and profit. While leading manufacturers could pass some costs onto buyers, overall profit declined at the height of supply chain shortages. A strong Canadian and US economic recovery from the pandemic will create stable growth for Canadian manufacturers. Increased trade and retail volumes will improve prospects for downstream shipping companies. Similarly, companies will benefit from robust demand for natural resource freighting, particularly metallic ores and petroleum shipping. Manufacturers will also prioritize environmental concerns and regulations, leading to a proliferation of electric and hybrid vehicles and boosting revenue expectations. Revenue will expand at a forecasted CAGR of 0.8% to $5.9 billion through the outlook period, where profit will settle at 6.2% as demand returns to pre-COVID levels.

After two years of decline, the Canadian bus market increased by 16% to $1,105.1B in 2024. In general, the total consumption indicated pronounced growth from 2012 to 2024: its value increased at an average annual rate of +2.6% over the last twelve-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level of $1,364.5B. From 2019 to 2024, the growth of the market failed to regain momentum.

In 2024, the Canadian passenger car tyre market decreased by -2% to $2.5B for the first time since 2020, thus ending a three-year rising trend. Over the period under review, consumption, however, showed a relatively flat trend pattern. Over the period under review, the market attained the maximum level at $2.8B in 2012; however, from 2013 to 2024, consumption failed to regain momentum.

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Industrial Safety Gates Market Size 2024-2028

The industrial safety gates market size is forecast to increase by USD 140.9 million at a CAGR of 5.15% between 2023 and 2028.

The market is experiencing significant growth due to several key trends. One of the primary drivers is the increasing demand for self-closing and self-opening gates, which enhance safety and productivity in industrial settings. Another trend is the high demand for industrial safety gates electrical protective equipment and telecom towers in the telecom industry, as the sector continues to expand and prioritize worker safety. However, the market is also facing challenges, such as the fluctuating prices of raw materials required for manufacturing. This volatility can impact the profitability of manufacturers and may lead to price pressures In the market. Overall, the market is expected to continue growing, driven by the need for enhanced safety and productivity in industrial applications.

What will be the Size of the Industrial Safety Gates Market During the Forecast Period?

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The market encompasses a range of automated and manually operated gates designed to ensure workplace safety in various industries. Key market drivers include stringent workplace safety regulations and the increasing adoption of self-closing gates, including swing gates and vertical lift gates, to minimize human error. The market exhibits moderate competition, with both direct and indirect sales channels. Industries such as telecom, spring-loaded gates, and powder-coated gates are significant end-users. The market is highly fragmented, with numerous players, but export potential exists for those able to leverage advanced technology, such as electronic devices, digital circuits, and information processing, into their offerings.
Emerging trends include the integration of artificial intelligence, the Internet of Things, 5G communication, and data processing into safety gates, particularly In the automotive sector, where in-vehicle infotainment systems are increasingly incorporating safety features. The market exhibits a moderate competition landscape with key players engaging in direct and direct sales.

How is this Industrial Safety Gates Industry segmented and which is the largest segment?

The industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD million' for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.

Product

  Swing gates
  Vertical lift gates
  Others


Distribution Channel

  Direct sales
  Indirect sales


Geography

  APAC

    China
    India


  North America

    Canada
    US


  Europe

    Germany


  South America



  Middle East and Africa

By Product Insights

The swing gates segment is estimated to witness significant growth during the forecast period.

Swing gates, which open inward and outward, accounted for a significant market share in the industry in 2023. Their popularity is attributed to several advantages, including ease of installation, reduced maintenance compared to other gate types, cost-efficiency, and smooth operation with minimal noise. These factors make swing gates an ideal choice for industrial applications. Regulatory bodies such as OSHA and HSE mandate their use near ladder openings and unprotected areas.

Moreover, other gate types, including self-closing gates, vertical lift gates, and spring-loaded gates, also hold considerable market potential due to their unique features and applications. The market is moderately competitive, with key players engaging in both direct and indirect sales. Export potential, trade relations, tariffs, and import demand influence market dynamics. Industries such as telecom, convenience foods, healthcare, and automotive are significant consumers. Market growth is driven by factors like increasing disposable incomes, health consciousness, and technological advancements in various sectors, including electronics, aerospace and defense, and digital signal processing.

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The swing gates segment was valued at USD 210.20 million in 2018 and showed a gradual increase during the forecast period.

Regional Analysis

APAC is estimated to contribute 46% to the growth of the global market during the forecast period.

Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

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The market in Asia Pacific (APAC) is experiencing significant growth, driven by increasing demand from key industries such as construction, manufacturing, and telecommunications. In the construction sector, which is expanding rapidly in China, India, and V

In 2024, the Canadian special vehicle body market increased by 26% to $179M, rising for the second consecutive year after three years of decline. Overall, consumption showed a moderate expansion. Over the period under review, the market hit record highs at $306M in 2019; however, from 2020 to 2024, consumption remained at a lower figure.

Space vehicle and missile manufacturers, which develop and manufacture missiles, rockets, spacecraft and related equipment and components, have faced heavy volatility through the current period, driven by fluctuating demands and shifts in both public and private sectors. While declining satellite TV subscriptions have cut into demand for geosynchronous satellites, telecommunications advancements, like satellite internet, 5G and the general Internet of Things, have supported demand for smaller, more advanced satellites and launch vehicles, putting more and more products into low earth orbit. However, Canada's defence sector is severely compromised, with Canada falling well below NATO's 2.0% spending requirement. This trend has severely limited demand for completed missile systems, largely forcing Canadian contractors into subcontracting roles. Overall, revenue has climbed at an expected CAGR of 6.2% to $1.2 billion through the current period, including a 1.4% jump in 2025, where profit settled at 0.3%. Space vehicle and missile manufacturers have navigated a landscape marked by both formidable challenges and new opportunities. Increased import penetration from the United States has contributed to revenue and profit declines, despite a healthy export market to the US, spurred by its substantial investments in space and defense programs. Competition for skilled engineers and researchers has driven up wages, exacerbating profit pressure for manufacturers already grappling with higher labour costs amid a broader Canadian manufacturing sector labour shortage. Additionally, supply chain disruptions have also influenced revenue and profit potential. Shortages and higher costs have contributed to longer lead times, delays and volatile profit as companies struggled to meet contract parameters and maintain production schedules. Continued government funding, especially the additional investments in the Artemis missions, Lunar Gateway and Lunar Exploration Accelerator Program, is poised to support manufacturers. Additionally, private companies developing spaceports in Nova Scotia could create major opportunities for proprietary launch vehicle development and create new subindustries. However, challenges remain: wage costs will climb further as labour shortages persist, dampening profit even as both public and private sector research and development spending grows. The ongoing shift toward satellite communication in developing countries offers promising international demand, yet space vehicle and missile manufacturers will need to adeptly navigate these evolving dynamics to mitigate profit declines and capitalize on growth avenues. Overall, revenue will expand at an expected CAGR of 1.4% to $1.3 billion through the outlook period.

According to Cognitive Market Research, the global Ultrafast Lasers market size will be USD 2651.2 million in 2024. It will expand at a compound annual growth rate (CAGR) of 16.20% from 2024 to 2031.

North America held the major market share for more than 40% of the global revenue with a market size of USD 1060.4 million in 2024 and will grow at a compound annual growth rate (CAGR) of 14.4% from 2024 to 2031.
Europe accounted for a market share of over 30% of the global revenue with a market size of USD 795.3 million.
Asia Pacific held a market share of around 23% of the global revenue with a market size of USD 609.7 million in 2024 and will grow at a compound annual growth rate (CAGR) of 18.2% from 2024 to 2031.
Latin America had a market share of more than 5% of the global revenue with a market size of USD 132.5 million in 2024 and will grow at a compound annual growth rate (CAGR) of 15.6% from 2024 to 2031.
Middle East and Africa had a market share of around 2% of the global revenue and was estimated at a market size of USD 53.0 million in 2024 and will grow at a compound annual growth rate (CAGR) of 15.9% from 2024 to 2031.
The Upright Ultra-low Temperature Freezer type held the highest Ultrafast Lasers market revenue share in 2024.

Market Dynamics of Ultrafast Lasers Market

Key Drivers for Ultrafast Lasers Market

Growing Adoption in Automotive Industry to Increase the Demand Globally

The automotive industry is advancing laser applications to meet various industry requirements, such as quality, product miniaturization, high precision, smaller production lots, and application to diverse materials. In 2022, Canadian autoworkers built over 1.2 million vehicles (approximately 3,352 per day) for both domestic and international markets. The production of vehicles and parts in Canada was valued at over $81 billion in 2022, with $63 billion worth of goods exported, accounting for 8% of Canada’s total exports. In the United States, the manufacture of motor vehicles and parts constitutes 6% of the manufacturing total and 11% of the durable goods subsector. Globally, car manufacturers face significant pressure to meet stringent government regulations, such as increasing fuel efficiency and reducing CO2 emissions. Femtosecond lasers are increasingly used in the high-volume conditioning of engine parts, including pistons, due to their precision and efficiency.

Increasing Use in Consumer Electronics to Propel Market Growth

The consumer electronics industry leverages ultrafast lasers in the manufacturing of components such as microprocessors, display panels, and sensors. The rising consumer demand for advanced electronic devices, including smartphones, tablets, and wearables, is driving the need for ultrafast laser technology in production processes. According to the Consumer Technology Association, consumer technology retail revenue in the United States is expected to see a slight increase from 2022 to 2024, surpassing USD 500 billion by the end of this period. Hardware will contribute the majority of this revenue, generating around USD 345 billion in 2024. The industry highly values IPG fiber lasers and integrated automated systems for their exceptional reliability, flexibility, efficiency, high power, beam quality, compactness, and cost-effectiveness. This trend is anticipated to continue as electronic devices become increasingly complex and miniaturized.

Restraint Factor for the Ultrafast Lasers Market

Complexities During Manufacturing to Limit the Sales

The ultrafast lasers market is growing due to the demand for improved dimensional accuracy and government regulations promoting their use. However, manufacturing complexities are expected to restrain this market's expansion. The technological complexity, nonlinear effects during beam propagation, and intricate interaction processes of ultrafast laser systems require significant technical expertise in industrial settings. Despite the advantages of ultrafast lasers, they are often criticized for being fragile, expensive, and slow, making integration into production processes challenging. Many alternative technologies are frequently used due to their lower manufacturing complexity. For example, while ultrafast lasers can process optically transparent polymer materials, excimer lasers are more popular due to their lower cost. Other substitute technologies include Q-switched lasers, continuous wave (CW) lasers, and ...

The Canadian market for air conditioning machines for motor vehicles declined to $1.2B in 2024, waning by -6.3% against the previous year. Overall, consumption, however, continues to indicate a strong expansion. Over the period under review, the market attained the maximum level at $1.5B in 2019; however, from 2020 to 2024, consumption stood at a somewhat lower figure.

The industry produces a range of products, including automotive V-belts, hydraulic hoses and belts for conveyors, which it then sells to on- and off-highway vehicle makers, other manufacturers and heavy industry enterprises, like mining companies. This industry depends on Canadian manufacturing activity and industrial output, which serve as a major source of demand. Also, a high level of trade characterizes the industry, with exports estimated to account for more than 50.0% of revenue and imports accounting for more than 80.0% of domestic demand in 2024. Despite difficulties for the industry during the pandemic, strong demand and sharply rising prices helped support industry growth in recent years. Revenue is expected to rise at a CAGR of 3.7% to $800.0 million through the end of 2024, with forecast growth of 0.7% during the current year. Since the industry boasts varied downstream markets, the industry's performance doesn't on the performance of any particular industry. While the performance of some downstream markets countervails one another during the current period, the vast majority of the industry's end markets endured hardship during the pandemic, exacerbating the industry's entire supply chain. In particular, the industry faced plummeting demand from the automotive sector, as output fell from Canada's largest automotive manufacturers because of temporary plant closures. A swift recovery in demand helped these downstream industries recover while rising plastic and rubber prices further shored up revenue for industry hose and belt producers. Revenue is forecast to expand over the next five years. The industrial capacity utilization rate will rebound through 2028, boosting demand for conveyor belts and industrial hoses. The expected depreciation of the Canadian dollar will also drive growth in the total export value. A depreciating Canadian dollar makes hoses and belts less expensive and more competitive globally, benefiting the industry. Accordingly, the industry is expected to grow at a CAGR of 0.8% to $832.0 million through the end of 2029.