The revenue forecast for Canada's petroleum and coal product manufacturing shows a steady decline over the coming years. From the 2024 forecast of 73.605 billion Canadian Dollars, the sector is expected to diminish to 71.131 billion by 2028. This suggests a consistent drop in growth, given the negative year-on-year variation each year. The compound annual growth rate (CAGR) reflects a negative trend indicating reduced activity or pricing pressures within the industry. In 2023, industry revenue was significantly higher, highlighting an ongoing contraction post-2023.

Future trends to watch:

Fluctuations in global oil prices and their direct impact on the industry.
Regulatory changes, especially environmental policies, that could further challenge the sector.
Technological advancements and transitioning to greener alternatives affecting demand.