The sewerage, waste collection, and management services output in Canada has shown a growth trend from 2013 to 2023, standing at 14.91 billion Canadian dollars in 2023. This sector witnessed a steady increase from 8.21 billion in 2013, peaking to 14.04 billion in 2019 before a slight decline in 2020. It recovered and continued to grow consistently up to 2023. The year-on-year variation over the last two years shows modest increases of 4.09% in 2022 and 3.9% in 2023. The Compound Annual Growth Rate (CAGR) over the past five years stands at 2.18%, indicating a stable but moderate growth trend.
Future forecasts predict continued growth, with the sector expected to reach 17.62 billion Canadian dollars by 2028, projecting a 5-year CAGR of 2.65% and a forecasted growth rate of 13.95% over the next five years. This suggests a slightly accelerated growth pace compared to the recent past.
Future trends to watch for in this sector include:
- Increased investment in sustainable waste management technologies.
- Policy changes aiming at reducing waste and enhancing recycling efforts.
- The impact of urbanization and population growth on service demand.
- Adoption of smart waste management solutions and infrastructure advancements.
