From 2013 to 2023, the production of warehousing and support activities for transportation in Canada demonstrated overall consistent growth. The compound annual growth rate (CAGR) from 2013 to 2023 indicated an average yearly increase of 5.85%, ending at 57.18 billion Canadian dollars in 2023. Despite a contraction in 2020 due to the COVID-19 pandemic, the sector rebounded significantly in 2021 with an 18.59% year-on-year increase. Recent years have shown slower growth, with 2022 and 2023 experiencing year-on-year increases of 8.86% and 3.24%, respectively.
The five-year forecast from 2024 to 2028 predicts a CAGR of 2.4%, slower than previous periods, which suggests a maturing market. By 2028, the production is expected to reach 66.39 billion Canadian dollars, marking a total five-year growth rate of 12.6%.
In the future, key trends to watch for include technological advancements in logistics, increased focus on sustainability, and potential shifts in global trade patterns. These factors could drive efficiencies and reshape the competitive landscape in this sector.
