Forecast: Value Added of Warehousing and Support Activities for Transportation in Canada

From 2013 to 2023, the value added of warehousing and support activities for transportation in Canada demonstrated steady growth, increasing from 14.64 billion to 26.12 billion Canadian Dollars. The growth was consistent with some fluctuations, particularly a decline in 2020 due to the pandemic, but it rebounded strongly in 2021. The year-on-year variation was notable with a 9.23% growth in 2021, followed by more moderate growth rates of 4.56% in 2022 and 4.31% in 2023. The compound annual growth rate (CAGR) over the last five years leading to 2023 was 4.22%.

Looking forward, the forecasted growth implies a more tempered pace, with an anticipated average annual growth rate of 2.89% over the next five years, leading to a projected value of 31.36 billion Canadian Dollars by 2028. This represents an overall growth rate of 15.33% over the forecast period.

Future trends to watch for include increased adoption of automation and digital technologies in warehousing, a potential resurgence in demand for e-commerce-related logistics, and ongoing global supply chain diversification influenced by recent geopolitical and economic shifts.