From 2013 to 2023, the production of transportation and warehousing in Canada has seen a steady increase, except for a notable decrease in 2020, likely due to the COVID-19 pandemic. In 2023, the value stood at 237.68 Billion Canadian Dollars, marking a 2.65% year-on-year increase. Over the last five years, the compound annual growth rate (CAGR) has averaged 2.84%.
Looking ahead, from 2024 onwards, the forecast indicates a continued gradual growth with a forecasted CAGR of 2.01% over the next five years, resulting in an overall growth rate of 10.44% by 2028.
Future trends to watch for include:
- Technological advancements improving logistics efficiency
- Increased adoption of sustainable practices
- Potential impacts of global supply chain disruptions
- Growth in e-commerce driving demand for warehousing and transportation services
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