The trucking industry in Canada has seen considerable fluctuations over the past decade. From 2013 to 2023, it experienced an increase from 690.79 billion kilograms to 810.22 billion kilograms. Notable variations include a significant drop in 2020 by 15.85%, followed by a rebound in 2021 with a 15.99% year-on-year increase. The compound annual growth rate (CAGR) over the last five years (2019-2023) stands at 1.46%, indicating moderate growth overall.
Future trends to watch for include:
- A forecasted steady increase with an estimated 5-year CAGR of 1% from 2024 to 2028.
- Projected industry weight of 860.26 billion kilograms by 2028.
Key factors to monitor include advancements in logistics technology, regulatory changes, and shifts in trade patterns that could impact the trucking industry's growth trajectory.
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