The road freight transport sector in Canada saw significant fluctuations from 2013 to 2023. After a robust growth period, highlighted by a peak in 2017, the market experienced a notable downturn in 2018 and 2020, with negative year-on-year variations of 10.05% and 16.13%, respectively. Despite these setbacks, the sector demonstrated resilience with a recovery starting in 2021, achieving a year-on-year growth rate of 15.62%. By 2023, the market value stood at 293.92 Billion Tonne Kilometers, showing a modest increase of 0.95% from the previous year. Over the last five years, the Compound Annual Growth Rate (CAGR) stabilized at 1.78%.
Future trends to watch for:
• The forecast anticipates a stable but modest growth in road freight transport from 2024 to 2028, with an expected 5-year CAGR of 0.77%.
• Continuous advancements in logistics technology and sustainability practices may drive efficiency and further growth in the sector.
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