In 2023, railway passenger traffic in conventional trains in Canada was at 4.63 million persons. Forecasts for 2024 to 2028 show a steady, marginal increase in railway passenger traffic, from 4.65 million persons in 2024 to 4.73 million persons by 2028. The year-on-year growth rate is consistently around 0.43% over the period from 2024 to 2028, reflecting a stable but modest increase in usage. The five-year CAGR is approximately 0.43%, indicating a gradual upward trend in conventional railway traffic.
Future trends to watch for include potential impacts from government policies on public transportation, technological advancements in train systems, and shifts in consumer preferences toward more sustainable travel options. Monitoring these factors will be essential for accurately forecasting future demand in the rail sector.
