The international road freight in Canada has experienced substantial fluctuations between 2013 and 2023. In 2013, the market stood at 107.47 billion tonne-km and gradually grew, peaking in 2017 at 134.87 billion tonne-km. A significant decline occurred in 2018 and 2020, attributed to economic disruptions and the COVID-19 pandemic, respectively. The values have since recovered, with 119.28 billion tonne-km recorded in 2023. The past five years have seen a modest CAGR of 2.73%, indicating a recovery trajectory.
Forecasting from 2024 to 2028, the industry is expected to grow but at a slower pace, with a five-year forecast CAGR at 0.79%. The market is projected to reach 124.94 billion tonne-km by 2028.
Future trends to watch for:
- Impact of international trade agreements and tariffs
- Technological advancements in logistics and supply chain management
- Environmental regulations and shift towards sustainable transportation methods
- Economic recovery post-COVID-19 and its effect on international trade dynamics
