From 2013 to 2019, the production of road and pipeline transport in Canada showed a general upward trend with notable growth spurts in 2014 and 2018, increasing by 9.28% and 8.72% respectively. However, in 2020, the industry faced a significant downturn with a decrease of 15.07% due to unprecedented challenges, likely related to global events. The recovery was swift with a notable increase of 17.54% in 2021, returning to pre-downturn levels. In 2023, the production value stood at 123.96 Billion Canadian Dollars, marking a modest year-on-year growth of 2.45%. The last five years witnessed a CAGR of 2.53%, reflecting steady but moderate growth.
Looking forward to the forecasted period from 2024 to 2028, the production is expected to continue its upward trajectory, albeit at a slower CAGR of 1.87%. By 2028, the production value is anticipated to reach 139.12 Billion Canadian Dollars, representing a cumulative growth rate of 9.71% over the next five years.
Future trends to watch for include technological advancements in transport infrastructure, the impact of sustainability initiatives on pipeline transport, and potential regulatory changes. Monitoring global economic conditions and energy demand will also be crucial.
