The volume of road freight transport operated for hire or reward in Canada is forecasted to grow from 898.43 million metric tons in 2024 to 955.46 million metric tons by 2028. In 2023, the actual volume stood at approximately 885.8 million metric tons. Year-on-year growth rates are steady, projecting a consistent upward trend. The compound annual growth rate (CAGR) for the period 2024-2028 is anticipated to be about 1.54%, indicating a stable expansion in the industry.
Future trends to watch include the integration of green technologies in trucking, the impact of regulatory changes, and shifts in trade policies that may affect freight volumes. Additionally, technological advancements in logistics and supply chain management could further influence growth dynamics in the Canadian road freight market.
