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Canada Commercial Vehicle Industry Outlook 2024 - 2028

See how Canada Commercial Vehicle performed compared to key markets such as the United States and Mexico.

Key Market Indicators

Canadian commercial vehicle registrations are projected to climb to approximately 6.35 million units by 2028, up from about 6.21 million units in 2023. This represents an average annual growth rate of 0.4%. Since 2010, the Canadian market has surged by 34.6% annually. In 2023, Canada ranked second globally in commercial vehicle registrations, with the United States taking the top spot with around 6.21 million units. Following Canada in the rankings were Mexico and Argentina, occupying the third and fourth positions, respectively. Meanwhile, Canadian commercial vehicle production is expected to remain relatively flat, reaching roughly 1.42 million units by 2028, up slightly from about 1.42 million units in 2023. This indicates a 0% average annual growth rate. Since 2002, Canadian production has seen a modest annual increase of 1%. In 2023, Canada ranked fourth in commercial vehicle production, trailing behind China, which led with approximately 1.42 million units. Mexico and China held the second and third positions, respectively, in this ranking.

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Canada Commercial Vehicle Market Data and Forecasts

What is the size of the Canadian Commercial Vehicle Market in 2024?

Tractor, Bus and Truck Bodies Market Size Value in Canada
Work Trucks (Except Electric Truck) Market Size Value in Canada
Work Trucks Parts Market Size Value in Canada
Diesel Trucks (Weighing Less than 5 Tonnes) Market Size Value Per Capita in Canada
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How much will Canada Commercial Vehicle Market grow to 2028?

Forecast: Import of Trucks to Canada
Forecast: Export of Trucks from Canada
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