The volume of oil pipeline national transport in Canada has shown a notable growth trajectory from 2013 to 2023, increasing from 113,840 to 192,690 Trillion Tonne Kilometers. The year-on-year growth rates fluctuated over the decade with significant peaks in 2014 (10.81%), 2016 (13.36%), and 2021 (18.12%), while a significant dip was observed in 2020 (-14.2%) due to market disruptions. The most recent year, 2023, saw a growth rate of 2.89%.
Analyzing the long-term trends, the 5-year Compound Annual Growth Rate (CAGR) up to 2023 stood at 2.94%, indicating moderate average annual growth after accounting for market volatilities. Forecast data suggest steady growth, projecting an increase to 220,430 Trillion Tonne Kilometers by 2028 with a forecasted 5-year CAGR of 2.17%.
Looking ahead, several trends are worth monitoring:
- Fluctuations in global oil demand and prices
- Environmental regulations and their impact on pipeline projects
- Technological advancements in pipeline safety and efficiency
- Economic recovery and its effects post-2020 market disruptions
