In 2023, total support for all fossil fuels in transportation in Canada stood at an estimated 380 million US dollars, in constant 2020 terms. The forecast from 2024 to 2028 shows a gradual decline, from 377.66 million to 370.45 million US dollars. Year-on-year, we observe slight reductions of about 0.64% on average. Over this timeframe, the compounded annual growth rate (CAGR) reflects a consistent negative trend of approximately -0.53% annually.
Future trends to watch include the potential impact of governmental policies on green energy, advancements in renewable transportation technologies, and fluctuating fossil fuel prices, which may further influence the support levels. Keeping a close eye on electrification and zero-emission initiatives should be paramount.
