In 2023, direct transfer on all fossil fuels for producers in Canada stood at 29.10 million US dollars. Forecasts indicate a noticeable growth trend from 2024 to 2028, with year-on-year increases: 16.9% in 2025, 14.3% in 2026, 12.5% in 2027, and 11.0% in 2028. The projected compound annual growth rate (CAGR) over the five-year period is approximately 10.1%, showcasing a robust upward trajectory.
Future trends to watch for include potential shifts in government policy regarding fossil fuel subsidies, the global transition towards renewable energy, and economic pressures that may influence fossil fuel production and transfers in Canada. Close monitoring of these factors will be essential for stakeholders.
