Between 2013 and 2023, the value added of Road Transport and Pipeline Transport in Canada displayed a general upward trend, increasing from CAD 43.2 billion to CAD 59.98 billion. The sector experienced fluctuations, with significant growth years like 2014 (6.99%) and 2018 (6.05%), and downturns such as 2020 (-15.35%) driven by external shocks. Recovery was notable in 2021 with a 17.21% increase, stabilizing to a more moderate 2.2% growth in 2023. The compound annual growth rate (CAGR) over the last five years averaged 2.38%.
Looking ahead, the forecasted data indicate a continuation of this growth trend, with an anticipated increase to CAD 66.56 billion by 2028. Despite a slower five-year forecast CAGR of 1.69%, the sector is expected to grow by 8.77% overall during this period.
Future trends to watch for include:
- Adoption of green technologies and sustainable practices in transport.
- Impact of regulatory changes on pipeline investments and operations.
- Influence of economic conditions on the demand for freight and passenger services.
