The Civil Engineering Gross Value Added (GVA) in Canada is projected to experience a steady decline from $46.19 billion CAD in 2024 to $44.61 billion CAD by 2028. Between 2023 and 2024, there is no actual data specified, but given the declining trend from 2024 onward, it might have been the peak or stable before descending. The year-on-year percentage changes indicate a contraction of approximately 0.9% annually over the next five years, highlighting a consistent downturn in the sector. This trend results in a negative Compound Annual Growth Rate (CAGR) through 2028.
Future trends to watch for include:
- The impact of economic policies and investments in infrastructure that could reverse or moderate this decline.
- Technological advancements and regulatory changes in the construction industry.
- Shifts in demand driven by urbanization and population growth dynamics.