Infrastructure Sector in Canada Market Size

Canadian Infrastructure Market Analysis

The size of infrastructure sector in the Canadian market is around USD 130 billion in the current year and is anticipated to register a CAGR of more than 4% during the forecast period.

• Infrastructure is an important sector for any country's economic growth. The infrastructure market segments mainly include electricity, roads, water systems, public utilities, airports, railways, and telecommunications. The Canadian government's planned investments in infrastructure are expected to support the growth of Canada's construction industry.
• By the start of 2021, the Canadian government launched a USD 7.6 billion "Growth Plan" for Canada Infrastructure Bank (CIB) to create 60,000 jobs and support the country's post-COVID-19 economic recovery over the next three years through major investment projects.
• Under this "Growth Plan", USD 2 billion is earmarked for clean energy projects, USD 1.6 billion for broadband, USD 1.6 billion for building retrofits, USD 1.2 billion for agriculture irrigation projects, and USD 1.2 billion for electric buses and charging infrastructure.
• The government has adopted measures to attract more Foreign Direct Investment (FDI) into the country to boost tourism, both in terms of domestic travelers and large-scale international MICE events. This has also created more investment for airports and airport infrastructure.
• The National Housing Strategy of Canada has lofty goals to ensure that unprecedented investments and innovative programs provide results. The government's initial goal was to reduce chronic and episodic homelessness by half, but it is now focusing on eliminating chronic homelessness in Canada, with up to 530,000 households being lifted out of housing need.
• Up to 125,000 new housing units and 300,000 repaired or updated housing units will be created as a result of the National Housing Strategy. The National Housing Strategy will develop a new generation of housing in Canada through new initiatives such as the National Housing Co-Investment Fund, community housing programs, and support to provinces and territories. Our strategy will encourage a varied range of communities.
• Funding for the National Housing Co-Investment Fund of CAD 750 million (USD 598.03 million) is planned to be advanced to 2021-22 and 2022-23. This will speed up the production of 3,400 new units and the repair of 13,700 existing ones.