The forecasted output of services to buildings and landscape activities in Canada shows continuous growth from 2013 to 2028. In 2023, the value stood at 24.44 billion Canadian dollars. The historical data reveals that the sector experienced various rates of growth, peaking in 2015 with an 8.57% year-on-year increase. Over the past five years (2018-2023), the CAGR was 3.24%, indicating steady but decelerating growth compared to earlier years.
Looking at the recent trends, the year-on-year variations over the last two years were modest, with 2.91% in 2022 and 2.8% in 2023. For the next five years, the sector is expected to grow at a lower CAGR of 1.97%, amounting to a total forecast 5-year growth rate of 10.25% by 2028.
Future trends to watch for:
- Impact of technological advancements on service efficiency and cost structures.
- Shifting preferences toward eco-friendly and sustainable landscaping practices.
- Regulatory changes that might affect operating costs and service demand.
