Forecast: Volume of Road Freight Transport in Canada

From 2013 to 2023, Canada’s road freight transport volume showed significant fluctuations. The sector witnessed substantial growth from 2013 through 2017, with a peak in 2017 at 816.17 million metric tons. After a notable decline in 2020 due to the pandemic (15.54% decrease), it rebounded robustly by 16.39% in 2021, closing 2023 at 886.44 million metric tons. Annual growth averaged around 1.69% from 2019 to 2023, with recent years showing stable, albeit moderate growth.

Future forecasts indicate a steady growth trajectory. The volume is anticipated to rise from 898.43 million metric tons in 2024 to 955.46 million metric tons by 2028, with an average annual growth rate (CAGR) of 1.24%. This suggests a more gradual but consistent increase amid evolving market conditions.

Future trends to watch for include:

• Technological advancements driving efficiency in logistics and transportation.
• Regulatory changes influencing environmental sustainability practices.
• Market shifts due to potential global economic fluctuations.
• Impact of evolving trade agreements and policies.