In 2023, the actual volume of road freight transport operated for hire or reward in Canada stood at a measurable level, setting the baseline for the forecasted growth in subsequent years. Beginning in 2024, the forecasted growth shows a steady increase from 362.88 billion tonne kilometers in 2024 to 390.41 billion tonne kilometers in 2028.
Year-on-year growth illustrates a consistent upward trend with approximately 2% annual increase, demonstrating a positive trajectory in the road freight sector. The compound annual growth rate (CAGR) over the five-year period is anticipated to be a modest yet stable figure just below 2%.
Future trends to watch for include the impact of technological advancements in logistics and transport efficiency, regulatory changes in environmental policies, and the potential influence of economic fluctuations on freight demand. Monitoring these factors will provide further insights into the sustainability and resilience of growth in Canada's road freight transport sector.
