Based on the expert analysis and our database of 480+ CA industries, IBISWorld presents a list of the Fastest Growing Industries by Imports in Canada in 2024
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View a list of the Top 25 fastest growing industries by importsGrowth in Imports for 2024: 39.8%
The Concrete Pipe and Block Manufacturing industry in Canada is forecasted to experience growth over the five years to 2023. However, it's anticipated that demand for concrete pipes and blocks will decline in 2022 and 2023 due to higher interest rates, forcing a sharp decrease in residential construction. However, the downturn in demand from residential construction ventures is projected to be compensated by an uptick in government spending on concrete-intensive projects like bridge construction and highway improvement. Despite experiencing a 4.3% dip in 2023, industry revenue is projected to increase at a CAGR of 1.8% to $1.7 billion in the... Learn More
Growth in Imports for 2024: 25.8%
Inorganic chemical manufacturers produce chemicals crucial to many manufacturing and construction industries. Demand for these products is linked to the overall performance of these sectors, which have fluctuated alongside pandemic disruptions and recent dips in consumer confidence. While the diversity of downstream markets has shielded inorganic chemical producers from more severe declines, COVID-19 curbed demand from most industries, shrinking sales of key products like alkalis and catalysts. Over the past five years, revenue has dipped at a CAGR of 3.0% to reach an estimated $4.8 billion in 2023, when revenue is projected to shrink by an additional 1.7%, and profit... Learn More
Growth in Imports for 2024: 16.2%
Canadian cardboard box and container manufacturers have experienced strong growth in recent years. Products produced by manufacturers include corrugated and solid fibre boxes, folding paperboard boxes and other converted paper items. Manufacturers reliant on demand from other areas of the manufacturing sector; food, beverage and agricultural producers are major downstream buyers. Given the essential nature of their products, food and beverage manufacturers have continued to provide a stable source of demand. Sales to the manufacturing sector have declined in recent years due to the long-term trend of offshoring industrial activity to low-cost countries. Following COVID-19 disruptions, strong consumer spending has... Learn More
Growth in Imports for 2024: 10.5%
The Canadian ship building industry will expand through the end of 2023. Ship builders build, modify, convert and repair ships, including warships, icebreakers, ferries and offshore platforms. Prior to the current period, this industry was troubled, competing with foreign builders while dealing with inconsistent domestic demand. In an effort to rebuild its navy and coast guard, the federal government launched the extensive National Shipbuilding Strategy (NSS) which effectively solved this problem. The industry was able to begin its expansion since most of these projects will take more than a decade. Still, the industry was not immune to the negative economic... Learn More
Growth in Imports for 2024: 8.1%
The Boat Building industry in Canada has exhibited a moderate level of revenue volatility over the past five years. As the Canadian dollar weakened, the industry grew as improving economic conditions domestically and in the United States raised demand for industry vessels. The pandemic fostered strong boat sales as rising household incomes and wealth in addition to affordable borrowing conditions, drove demand for industry output. Recreational boating activity also rose in popularity, benefiting operators. Over the past five years, revenue has been growing at a CAGR of 5.5% and is expected to reach $762.5 million in 2023. This includes an... Learn More
Growth in Imports for 2024: 7.7%
Products produced and sold by pump and compressor manufacturers are used in a wide range of downstream industries, but water management facilities, oil and gas operations and construction markets are the most crucial. Operations are also highly influenced by international trade, as imports represent a dire threat to domestic producers, while exports are a potential life line for many. Volatile conditions during the period resulted in declining revenue and weakening performance, though some managed to weather the storm. Over the past five years, revenue has been declining at a CAGR of 3.9% to $2.4 billion in 2023 when revenue is... Learn More
Growth in Imports for 2024: 7.2%
As the Breweries industry in Canada has evolved in response to changing trends, its expansion has stagnated. While the industry has benefited from the popularity of craft beer from local microbreweries, consumers have shifted away from the traditional light and premium beer brands that currently represent most of industry brewers' sales. Navigating the challenging conditions of the COVID-19 pandemic, breweries saw sharp contractions across multiple years. As a result, industry revenue is anticipated to decline at a CAGR of 2.6% to $6.7 billion over the five years to 2023, including a contraction of 2.4% during the current year.
The rising popularity... Learn More
Growth in Imports for 2024: 6.6%
Revenue for the Motorcycle, Bike and Parts Manufacturing industry in Canada has expanded over the past five years. These manufacturers are primarily small independent custom fabricators relying on specific demand trends. Similarly, almost all bicycle and bicycle parts manufacturing activities are done in low volume, mainly using foreign components and typically only adding value through customization. The industry, primarily focused on custom and high-end products, is closely tied to consumer income and confidence. Moreover, with Bombardier's Can-Am Spyder Roadster being the only mass-produced motorcycle in Canada, industry revenue is reliant on this product's performance. As a result, industry revenue is... Learn More
Growth in Imports for 2024: 6.5%
Bread producers expanded throughout 2023, with steadily growing export sales and strong demand for the industry's higher-end varieties partly offset by stagnating domestic consumption of wheat products. Despite major efforts to reinvigorate the bread market, the industry endured decelerating domestic demand from several key downstream markets due to the health trends discouraging bread consumption. In addition, the COVID-19 pandemic further pressured companies to remain profitable. However, industry revenue will still increase at a CAGR of 0.8% over the five years to 2023, including a rise of 1.5% to total $11.7 billion in 2023 alone.
Recent health trends have encouraged many consumers... Learn More
Growth in Imports for 2024: 6.5%
Canadian jewellery manufacturers produce a wide range of jewellery products of varying quality. The industry also includes the minting of coins, with coins produced as currency and gold and silver bullion coins produced by the Royal Canadian Mint, which forms an important part of this industry. Throughout 2023, while the industry has benefited from rising per capita disposable income and consumer spending, the industry has also experienced volatility in demand for gold and silver bullion products, which are used by consumers worldwide for investment purposes. Overall, industry revenue has been growing at a CAGR of 18.2% over the past five... Learn More
Based on the expert analysis and our database of 480+ CA industries, IBISWorld presents a list of the Biggest Industries by Employment in Canada in 2024
VIEW ARTICLEBased on the expert analysis and our database of 480+ CA industries, IBISWorld presents a list of the Biggest Industries By Revenue in Canada in 2024
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