The gross value added for Warehousing and Support Activities for Transportation in Canada has shown a general upward trend from 2013 to 2023, standing at 25.76 billion Canadian Dollars as of 2023. The year-on-year growth rates have varied, with a significant decline in 2020 by -5.15%, likely due to the impact of the COVID-19 pandemic. Following this, the sector experienced modest recovery with growth continuing albeit at a slower pace, illustrated by a 2.95% increase in 2023. Over the past five years, the compound annual growth rate (CAGR) was 2.08%, reflecting a deceleration compared to earlier periods.

Forecasts from 2024 to 2028 indicate continued growth at a projected CAGR of 2.07%, culminating in a gross value added of 29.35 billion Canadian Dollars by 2028. This represents a total growth of 10.78% over the forecast period.

Future Trends to Watch For:

Automation and technological advancements in warehousing and transportation logistics.
Shift towards sustainable and eco-friendly logistics solutions.
Impact of global trade dynamics and supply chain disruptions.
E-commerce growth driving demand for warehousing space.
Regulatory changes and new trade agreements.