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Report
Canada Freight and Logistics Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)
Market Report I 2023-01-23 I 150 Pages I Mordor Intelligence
The Canada Freight and Logistics Market are anticipated to register a CAGR of more than 4.3% over the forecast period.
Key Highlights
The Canadian economy heavily depends on the transportation and warehousing industry. It contributed 3.6% of Canada's GDP in 2021 and employed more than 5.2% of its workforce. Truck transportation is the most frequently used mode of transportation in Canada's transportation and warehousing GDP sector. It makes up more than 28.0% of the industry; rail transportation is in second place with 11.4% of the market, followed by air transportation with 2.6% and water transportation with 2.6%.
Canada is the second largest country in the world and offers a vast natural resource source that drives the nation's economy. These natural resources include energy sources such as oil & gas, coal, renewables, and minerals such as gold, silver, etc. New projects for extracting these natural resources and expanding large projects require shipping heavy project cargo in the country.
The national supply chain in Canada is significantly aided by the freight rail system, which transports more than 332 million tons of vital products annually. To increase the freight rail system's transparency and competitiveness, the Ministry of Transportation has suggested changes to the Transportation Information Regulations.
Canada Freight & Logistics Market Trends
Increase in road freight volume driving the market
Trucks are the primary means of transportation for moving products over Canada's vast road network. The industry also has difficulty meeting the rising demand, and the current driver shortage is a significant source of worry. Initiatives to diversify the trucking industry, like promoting underrepresented groups and enticing them to work in the industry, could aid in filling open positions.
The Canadian economy heavily depends on the transportation and warehousing industry. It contributed 3.6% of Canada's GDP in 2021 and employed more than 5.2% of its workforce. Truck transportation is Canada's most used means of transportation for moving products, according to the GDP sector for transportation and warehousing. It makes up more than 28.0% of the industry; rail transportation is in second place with 11.4% of the market, followed by air transportation with 2.6% and water transportation with 2.6%. To transport throughout the country.
One of the world's most vital is the Canadian transportation business. It has a USD 648 billion GDP. Around 40,000 U.S.-licensed drivers operate north-south trade, and more than 120,000 licensed truckers with both Canadian and US licenses use cross-border trade. Canada now has a shortfall of 18,000 truckers, claims Trucking HR. To satisfy rising consumer demand, the UK, on the other hand, is experiencing a shortfall of up to 100,000 "lorry" drivers.
E-commerce is driving the logistics market in Canada
With a turnover of USD 35.5 billion in 2021, Canada ranked tenth in the world for e-commerce, ahead of Australia and behind Indonesia. The Canadian e-commerce market grew by 14% in 2021, which helped the global economy grow by 15%. Global e-commerce sales are anticipated to rise over the coming years, just like Canada's. Over the coming years, the global expansion will continue as new markets develop. East and Southeast Asia, with their expanding middle class and lagging offline infrastructure, will be the driving force behind this progress.
Amazon.ca is the dominant participant in the Canadian online retail sector. In 2021, the store generated 9.8 billion dollars in revenue. With USD 3.8 billion and USD 2.3 billion, respectively, the second and third-largest stores after amazon.ca are walmart.ca and costco.ca. The top three stores collectively generate 45% of Canada's online sales. Every store in Canada that makes revenue is included in the rankings of stores. These businesses can operate worldwide or with a national emphasis, solely selling in their home nation. Only Canadian-generated payment was taken into account for this evaluation.
The top three product categories are electronics, fashion, and furniture. 59% of Canadian customers use credit cards when making purchases online, and another 20% use PayPal. By 2025, it is predicted that 27% of online payments will be made via digital wallets, which are growing steadily. The expansion of E-Commerce is a result of the number and variety of goods and services Canadians buy. Canadians most frequently purchase items from American-based retailers are clothing and accessories, followed by consumer electronics, toys, games, books, household goods, sporting goods, DIY and garden supplies, footwear, and jewelry.
Canada Freight & Logistics Market Competitor Analysis
The Canadian freight and logistics market is fragmented and highly competitive, with many global, regional, and local players. Some of the key players in the market include Aramex, C.H. Robinson Worldwide, Air Tindi Ltd, Canada Post Corporation, VersaCold Logistics Services, and many others. The growth of e-commerce and increased road freight in the Canadian market is driving the market, creating opportunities for new entrants. Apart from these trends, many mergers, acquisitions, and partnerships are taking place in the market.
Additional Benefits:
The market estimate (ME) sheet in Excel format
3 months of analyst support
1 INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET INSIGHTS AND DYNAMICS
4.1 Market Overview
4.2 Market Dynamics
4.2.1 Drivers
4.2.2 Restraints
4.2.3 Opportunities
4.3 Technological Innovations and their Impact
4.4 Impact of the Growth of E-commerce on the Market
4.5 Impact of Regulations on the Logistics Sector
4.6 Industry Attractiveness - Porter's Five Forces Analysis
4.7 Freight Rates/Logistics Cost Trends
4.8 Insights into Intermodal Freight Transportation
5 MARKET SEGMENTATION
5.1 Function
5.1.1 Freight Transport
5.1.1.1 Road
5.1.1.2 Rail
5.1.1.3 Sea and Inland
5.1.1.4 Air
5.1.2 Freight Forwarding
5.1.3 Warehousing
5.1.4 Courier, Express, and Parcel
5.1.5 Value-added Services
5.1.6 Cold Chain Logistics, Last Mile Logistics, Return Logistics, and Other Emerging Areas
5.2 End User
5.2.1 Construction
5.2.2 Oil and Gas and Quarrying
5.2.3 Agriculture, Fishing, and Forestry
5.2.4 Manufacturing and Automotive
5.2.5 Distributive Trade
5.2.6 Other End Users (Pharmaceutical and Healthcare)
6 COMPETITIVE LANDSCAPE
6.1 Overview (Market Concentration and Major Players)
6.2 Company Profiles
6.2.1 International Players
6.2.1.1 Agility Logistics Ltd
6.2.1.2 Aramex
6.2.1.3 C.H. Robinson Worldwide
6.2.1.4 CEVA Logistics
6.2.1.5 Bollore Logistics
6.2.1.6 CJ Logistics Corporation
6.2.1.7 DHL Global Forwarding
6.2.1.8 DSV Air & Sea Inc.
6.2.1.9 Expeditors International of Washington Inc.
6.2.1.10 DB Schenker
6.2.1.11 FedEx
6.2.1.12 Kuehne + Nagel
6.2.2 Local Players (Key Information/Overview)
6.2.2.1 TFI International Inc.
6.2.2.2 Cargojet Inc.
6.2.2.3 Logistec Corp.
6.2.2.4 Purolator Inc.
6.2.2.5 Algoma Central Corp.
6.2.2.6 Versacold Logistics Services
6.2.2.7 Air Tindi Ltd
6.2.2.8 Best International Cargo Inc.
6.2.2.9 CMS Shipping
6.2.2.10 Delmar International Inc.
6.2.2.11 Canada Post Corporation*
7 FUTURE OF THE MARKET
8 APPENDIX
8.1 GDP Distribution, by Activity
8.2 Insights into Capital Flows
8.3 Economic Statistics - The Transport and Storage Sectors' Contribution to the Economy
8.4 External Trade Statistics - Export and Import, by Product
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