Forecast: Volume of National Road Freight Transport in Canada

The volume of national road freight transport in Canada has shown a consistent upward trend from 2013 to 2019, with a notable dip in 2020. This decline during the pandemic year was followed by a strong recovery in 2021, leading to a slight deceleration in growth through 2023. As of 2023, the volume reached 202.71 Billion Tonne Kilometers. Over the last two years, annual growth rates were 7.08% in 2022 and 1.66% in 2023.

Looking at the five-year Compound Annual Growth Rate (CAGR) through 2023, the volume grew at an average rate of 1.79% per year. Forecasts indicate a continued gradual increase with an expected CAGR of 1.3% from 2024 to 2028, achieving a total growth rate of 6.7% over the next five years.

Future trends to watch include:

• The impact of economic recovery post-pandemic on freight volumes.
• Evolving environmental regulations and their effects on transport operations.
• Technological advancements in logistics and road transport efficiency.
• Infrastructure developments and investments in road networks.
• Shifts in domestic consumption patterns influencing freight demand.