The number of enterprises in the Mining and Quarrying sector in Canada is expected to experience a slight decline, according to the forecasted data for 2024-2028. In 2023, the actual number stood at approximately 6.83 thousand enterprises. The forecast indicates a consistent year-on-year decrease ranging from -1.33% to -0.93%. Over the entire forecasted period, the Compound Annual Growth Rate (CAGR) suggests an average annual decline of about -1.15%.

Future trends to watch for include:

Technological advancements that may influence operational efficiency and, as a result, the number of enterprises.
Regulatory changes affecting the industry that could impact both existing and new enterprises.
Fluctuations in global demand and prices for mined and quarried materials, potentially affecting enterprise viability.