Forecast: Construction Output in Canada

In 2023, Canada's construction output was estimated at approximately 387.07 billion Canadian dollars. From 2024 to 2028, forecast data suggests a steady increase in construction output, with an average annual growth rate of around 2.6%. Each year, a consistent year-on-year growth of approximately 2.7% to 2.8% is anticipated. This signifies a stable expansion in the industry, driven by robust market demands.

Future trends to watch for in the Canadian construction industry include:

• The impact of technological advancements such as AI and automation on construction efficiency.
• Sustainability practices and green building technologies influencing project approaches.
• The potential effects of economic fluctuations and policy changes on investment levels and production capacity.