Between 2013 and 2023, the value added of warehousing and support activities for transportation in Canada showed significant growth, rising from CAD 16.29 billion to CAD 27.22 billion in 2023. This represents a general upward trend despite the noticeable dip in 2020 due to the pandemic, which showed a -14.49% year-on-year drop. A strong bounce-back was observed in 2021 with an 18.2% increase, followed by a moderate 8.53% in 2022 and a 2.95% increase in 2023. The compound annual growth rate (CAGR) over the past five years stood at 3.21% by 2023.
Forecasts from 2024 to 2028 suggest continued growth, with the value expected to reach CAD 31.21 billion by 2028. The forecasted 5-year CAGR is 2.21%, indicating a steady but slower growth rate compared to the previous decade.
Future trends to watch for include:
- Automation and technological advancements in warehousing and logistics.
- Effects of e-commerce expansion on warehousing requirements.
- Environmental regulations driving changes in transportation support activities.
- Supply chain resiliency measures post-pandemic potentially increasing value-added services.
