Canada Road Freight Transport Market Size

Canada Road Freight Transport Market Analysis

The Canada Road Freight Transport Market size is estimated at 40.15 billion USD in 2024, and is expected to reach 51.99 billion USD by 2030, growing at a CAGR of 4.40% during the forecast period (2024-2030).

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40.15 Billion

Market Size in 2024 (USD)

51.99 Billion

Market Size in 2030 (USD)

3.23 %

CAGR (2017-2023)

4.40 %

CAGR (2024-2030)

Largest Market by Distance

73.18 %

value share, Long Haul, 2023

Long-haul trucking is significant for cross-border freight transport. In Canada, exports recorded growth of 18.51% YoY, while imports recorded growth of 15.95% YoY in 2022.

Largest Market by Goods Configuration

70.74 %

value share, Solid Goods, 2023

For domestic transportation of solid goods, the road is the preferred mode. Canada has more than a million kilometers of (two-lane equivalent) roads to support transportation.

Largest Market by End User Industry

26.66 %

value share, Wholesale and Retail Trade, 2023

The wholesale and retail trade segment is poised for substantial growth, driven by the rapid expansion of e-commerce. The number of e-commerce users is expected to rise to 32.30 million by 2027.

Fastest Growing Market by Truckload Specification

4.93 %

Projected CAGR, Less than-Truck-Load (LTL), 2024-2030

Less-than truckload became the fastest-growing segment in the market as e-commerce retail sales soared in Canada during the COVID-19 pandemic.

First Leading Market Player

1.99 %

market share, Mullen Group, 2022

Mullen Group provides less-than truckload services with a network of 114 terminals. The LTL segment had 11 business units, which generated USD 778.7 million revenue in 2022.

E-commerce in Canada is expected to grow at a CAGR of 10.55% during 2023-2027, boosting the demand for road freight services

Canada Road Freight Transport Industry Segmentation Canada Road Freight Transport Industry Segmentation

Agriculture, Fishing, and Forestry, Construction, Manufacturing, Oil and Gas, Mining and Quarrying, Wholesale and Retail Trade, Others are covered as segments by End User Industry. Domestic, International are covered as segments by Destination. Full-Truck-Load (FTL), Less than-Truck-Load (LTL) are covered as segments by Truckload Specification. Containerized, Non-Containerized are covered as segments by Containerization. Long Haul, Short Haul are covered as segments by Distance. Fluid Goods, Solid Goods are covered as segments by Goods Configuration. Non-Temperature Controlled, Temperature Controlled are covered as segments by Temperature Control.

• The wholesale and retail trade end-user segment is poised for substantial growth, primarily driven by the rapid expansion of e-commerce in Canada. In 2023, the e-commerce industry witnessed 10% YoY growth and reached USD 55 billion. Moreover, the e-commerce industry in Canada is expected to register a CAGR of 10.55% during 2023-2027. The online food market is exploding in Canada. Almost 40% of Canadians order food at retail or in food service at least once every two weeks. By 2025, 30.1% of Canadians are expected to continue to buy food online regularly.
• In 2021, the manufacturing sector witnessed sales growth in every province, resulting in increased domestic road freight transportation of manufactured goods across Canada. Ontario experienced a sales increase of 11.3%, and Quebec saw a substantial rise of 19.5%. The growth in these provinces was largely driven by higher sales in the primary metal petroleum and coal industries. However, the transportation equipment industry saw fewer sales, which partially offset the overall growth. In Alberta, the surge in sales of 30.8% was primarily led by higher sales of petroleum and coal, as well as food products.
• The oil and gas, mining, and quarrying segment of the market is poised for significant growth during the forecast period despite increased efforts to reduce greenhouse gas emissions. Canada is expected to maintain a strong oil and gas industry in the future. Projections suggest that Canada's total oil production will experience substantial growth, reaching six million barrels per day by 2028, a significant increase from the 4.90 million barrels per day recorded in 2019. Similarly, Canada's total natural gas production is expected to see notable growth, reaching 22.20 billion cubic feet per day by 2050.