The railway passenger traffic in Canada shows varied trends over the years. 2013 saw a slight decline, with further minor decreases until 2014. A small rebound occurred in 2015, and steady growth followed until 2017. However, 2018 experienced a slight dip, before recovering again in 2019. The COVID-19 pandemic induced a significant drop in 2020, but the market rebounded robustly in 2021. Moderate increases were seen in subsequent years, with traffic standing at 4.65 million units in 2023. The last two years show minimal growth, while the CAGR over the last five years stands at 0.42%.
Future trends to watch:
- Consistency in moderate growth, forecasting an average increase of 1.71% over the next five years.
- Monitoring sustainability initiatives and technological advancements in the railway sector.
- Impact of fuel prices and alternative transportation methods on railway ridership.
- Post-pandemic travel behavior and its long-term effects on railway traffic.
