The output of warehousing and support activities for transportation in Canada exhibited a strong growth trend from 2013 to 2019, averaging an annual increase of around 9%. However, a notable decline occurred in 2020 due to global disruptions, with a year-on-year drop of 3.18%. A recovery phase followed, albeit at a slower pace, with moderate growth observed in 2021 and 2022. By 2023, the output stood at 57.4 billion Canadian Dollars, marking a consistent annual growth rate of 4.64% since 2022, and a five-year CAGR of 4.62% from 2018.

Looking ahead, the forecast indicates a steadier growth trajectory with an average annual increase (CAGR) of 3.09% from 2023 to 2028, leading to a total expected growth of approximately 16.42% over the five years. This suggests a stable but decelerating growth pattern compared to the historical trend.

Future trends to watch for include:

Technological advancements in logistics and warehousing.
Impact of global trade policies and economic conditions on transportation activities.
Adoption of sustainable and efficient transportation practices.
Potential effects of e-commerce expansion on warehousing demands.