The rail passenger transport in Canada has fluctuated dramatically over the past decade. Starting from 1.37 billion passenger kilometers in 2013, the value decreased slightly in 2014 and surged by 2015, showing minor annual variations until experiencing steady growth from 2017 to 2019. The COVID-19 pandemic severely impacted the industry in 2020, causing an 86.83% drop. Recovery began in 2021 with substantial growth and continued into 2022 and 2023, reaching 1.74 billion passenger kilometers in 2023, marking a 21.57% year-on-year increase. Looking ahead, the rail passenger transport sector is expected to stabilize, with a forecast CAGR of 0.35% from 2024 to 2028, showing moderate growth.
Future trends to watch for:
- Policy changes affecting public transport and infrastructure investments.
- Technological advancements improving efficiency and user experience.
- Environmental regulations promoting sustainable transit options.
- Post-pandemic travel behavior shifts influencing passenger volume.
