The volume of national rail freight transport in Canada stood at 276.68 billion tonne kilometers in 2023. The year-on-year variation was marginal at 0.75%, while the CAGR over the last five years showed a slight decline of -1.54%. Over the last decade, the sector experienced fluctuations, including growth spurts and declines due to various economic and operational factors.
From 2013, the year-on-year variation ranged from significant increases, such as 7.26% in 2014, to notable drops, like -7.98% in 2022. The recent trends revealed a modest recovery in 2023 after consecutive declines in 2021 and 2022.
The forecast data from 2024 to 2028 projects a gradual increase in rail freight volume, with an anticipated CAGR of 0.53%. This growth, though mild, indicates a stabilization in the sector with an overall 5-year growth rate of 2.69% by 2028.
Future trends to watch for include the impact of advancements in logistics technology, potential shifts in trade regulations, environmental policies influencing rail transport usage, and developments in intermodal transportation. These factors could significantly affect growth patterns moving forward.
