In 2023, the number of passenger transport enterprises in Canada was at approximately 57,445 establishments. From 2024 to 2028, forecasts indicate a steady annual increase, rising from 59,180 establishments in 2024 to 66,800 in 2028. The yearly growth rates are around 3.26% from 2024 to 2025, 3.15% from 2025 to 2026, 3.00% from 2026 to 2027, and 2.88% from 2027 to 2028. The compound annual growth rate (CAGR) for the five-year period stands at around 3.11%.
Future trends to watch for include:
- Increasing demand for sustainable and eco-friendly transportation solutions.
- Technological advancements in transportation services.
- Potential impacts of regulatory changes on the industry.
