From 2013 to 2023, the Water Supply, Sewerage, Waste Management, and Remediation Services sector in Canada has shown consistent growth, rising from 14.01 billion CAD to 21.29 billion CAD. Despite a contraction in 2020 due to external factors, the sector rebounded and maintained positive growth, with a year-on-year increase of 2.9% in 2023. The average annual growth rate (CAGR) over the last five years was approximately 1.67%.
Looking forward, the sector is projected to continue expanding, reaching 24.16 billion CAD by 2028. The forecasted 5-year CAGR stands at 2.01%. Future trends to watch for include:
- Increased investment in sustainable water management practices.
- Technological advancements in waste management and remediation services.
- Regulatory changes influencing sector dynamics and operational efficiencies.
The anticipated growth highlights the sector's resilience and the ongoing importance of environmental services in Canada's economic landscape.
