In 2023, registrations of off-road, construction, and farm vehicles in Canada were recorded at 2.5073 million units. The forecast for 2024 through 2028 shows a consistent growth trend with annual increases: 2024 (+1.39%), 2025 (+1.46%), 2026 (+1.41%), 2027 (+1.36%), and 2028 (+1.32%). The compound annual growth rate (CAGR) for the 2024-2028 period is approximately 1.39%.

Future trends to watch for include:

Advancements in technology and increased automation, potentially affecting the demand for newer vehicle models.
Environmental policies possibly driving shifts towards more sustainable and eco-friendly vehicles.
Market dynamics influenced by economic factors such as infrastructure investments and agricultural production levels.