Forecast: Trucking Industry Distance in Canada

The trucking industry distance covered in Canada has experienced various shifts over the past decade. After peaking in 2013, it showed a general declining trend until 2020. The year 2020 saw a significant drop of approximately 17%, likely influenced by pandemic-related disruptions. Since then, the industry has been recovering, with growth observed in 2021 and 2022. In 2023, the value stood at 38.34 billion kilometers. The Compound Annual Growth Rate (CAGR) over the past five years (2019-2023) was a modest 0.18%.

Looking ahead, the forecast indicates a slight decline in distance covered in 2024, followed by minor yearly increases. By 2028, the distance is expected to be around 38.357 billion kilometers. The projected five-year CAGR from 2024 to 2028 is 0.07%, showing a mostly flat growth trajectory.

Key future trends to watch for include:

• Technological advancements, such as automation and electric trucks.
• Regulatory changes impacting fuel efficiency and emissions standards.
• Supply chain adaptations post-pandemic and ongoing economic fluctuations.
• Increasing demand for sustainable logistics solutions.