The passenger kilometers on Canadian railways exhibited varied trends over the past decade. From 2013 to 2019, there was a general increasing trend, peaking in 2019 at 1.73 billion PKMs. The pandemic in 2020 caused a significant drop of 86.77%, reaching only 0.229 billion PKMs. Recovery began in 2021 and further accelerated in 2022 with a 164.37% increase. By 2023, the figure almost returned to pre-pandemic levels at 1.72 billion PKMs, indicating a strong recovery with a year-on-year growth of 21.45%. The last 5-year CAGR stood at 2.38%, highlighting a positive recovery trajectory.
Projected data from 2024 to 2028 shows a steady growth with an expected CAGR of 0.31%, forecasting a modest but stable increase in passenger kilometers, reaching 1.76 billion PKMs by 2028. This indicates a mature market with potential incremental growth.
Future trends to watch for include the impact of sustainability initiatives, technological advancements in rail efficiency, and potential shifts in passenger preferences due to economic or environmental factors. Monitoring these factors will be key to understanding future market dynamics.
