Key Market Indicators
Canadian truck exports are projected to hit approximately $5.2 billion by 2028, up from nearly $4.7 billion in 2023. This represents an average annual growth rate of 1.5%. Since 1994, the country's truck supply has seen a steady increase of 3% per year. In 2023, Canada ranked ninth globally in truck exports, with Italy narrowly ahead at $4.7 billion. The United States, Germany, and France held the second, third, and fourth spots, respectively. Meanwhile, Canadian truck imports are expected to reach around $19 billion by 2028, rising from about $16.9 billion in 2023. This growth corresponds to a compound annual growth rate of 1.9%. Canadian demand for trucks has consistently grown at a rate of 3.8% annually since 1994.