Biggest Industries by Revenue in Canada in 2026

• 1. Commercial Banking in Canada

  Revenue for 2026: $480.4B

  The high-interest-rate environment experienced over the five years, along with overall economic growth, benefited the industry. During the period, banks diversified revenue streams due to higher interest rates and despite increasing regulations. The industry primarily generates revenue through interest income sources, such as business loans and mortgages, but it also generates income through noninterest sources, which include fees on a variety of services and commissions. The growth in aggreg...

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• 2. Gasoline & Petroleum Bulk Stations in Canada

  Revenue for 2026: $271.6B

  Gasoline and petroleum bulk stations are integral to the energy supply chain, with storage tanks and terminals for crude oil and refined petroleum products, including gasoline, diesel, fuel oil and liquefied petroleum gases. These facilities are typically located near major refineries, ports and industrial centres, enabling distribution to receive large volumes efficiently and move product quickly to downstream wholesalers, retailers and major end users. Given that the industry serves as a co...

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• 3. Gasoline & Petroleum Wholesaling in Canada

  Revenue for 2026: $259.3B

  Gasoline and petroleum wholesalers are tethered to global crude oil prices, which can cause significant volatility for these companies. Crude oil prices plunged to historic lows in 2020 as the COVID-19 pandemic and its associated economic uncertainty reduced downstream demand for oil and gas products. However, crude oil prices more than doubled by 2022 amid a strong economic rebound, contributing to solid revenue growth. In response to high inflation and rising interest rates, a cooling econo...

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• 4. Oil Drilling & Gas Extraction in Canada

  Revenue for 2026: $180.1B

  Oil drilling and gas extraction in Canada have grown tremendously, resulting from rising prices and additional investment in production. As the economy recovered in 2021, the need for oil and gas rose and prices skyrocketed, bolstering revenue. The Russia-Ukraine conflict further exacerbated this, causing exports to surge as foreign countries looked elsewhere to get oil and gas. While prices crept down later in the period, they remained elevated and well above prepandemic levels. Overall, rev...

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• 5. New Car Dealers in Canada

  Revenue for 2026: $175.5B

  New car dealers have been riding out a period of disruption and adaptation, facing headwinds and finding new growth paths. Dealer performance has shown signs of rebound lately, as stabilizing interest rates started to unlock pent-up demand among everyday buyers and commercial clients. While consumer confidence hasn’t fully recovered, the slight easing in financing costs and some improvement in disposable incomes have helped keep the wheels turning for the Canadian auto retail sector. Dealers,...

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• 6. Supermarkets & Grocery Stores in Canada

  Revenue for 2026: $118.1B

  Supermarkets and grocery stores have faced major volatility through the current period, forcing notable strategic operational and pricing shifts to compete with a widening array of substitutes and internal competitors. Grocers first encountered unprecedented demand as lockdowns redirected consumers' spending from entertainment to at-home essentials. Sales spiked, but the boom was fleeting. At the start of the period, factors like declining disposable income and soaring food prices reversed th...

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• 7. Automobile Wholesaling in Canada

  Revenue for 2026: $115.9B

  High prices have become the signature challenge for the industry, as rising costs for materials like plastics spill over, pressuring companies to strategically price their offerings. Meanwhile, original equipment manufacturers (OEMs) that manufacture and sell cars directly to consumers remain a genuine challenge, prompting the industry to focus on competitive pricing to maintain its market appeal. Notably, the end of the iZEV program, which once provided economic incent...

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• 8. Life Insurance & Annuities in Canada

  Revenue for 2026: $115.2B

  While revenue growth has been positive overall, economic volatility has led to significant fluctuations in revenue for Canadian life insurers and annuity providers in recent years. A sharp drop in GDP during the pandemic initially constrained demand, but generous government aid allowed consumers to keep buying financial products, lifting revenue slightly in 2020. A strong rebound followed in 2021 before high inflation and shrinking disposable incomes triggered a major pullback in 2022. Betwee...

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• 9. IT Consulting in Canada

  Revenue for 2026: $114.0B

  The rapid pace of technological change propelled the IT Consulting industry in Canada, with the prevalence of cloud-based services, mobile apps and other cutting-edge software fueling spending across the economy. The advent of artificial intelligence (AI) technology joins the long list of cutting-edge trends fueling need for IT consultants across various sectors. The Canadian government is simultaneously bolstering the industry with its large-scale investments, announcing a $2.0 billion inves...

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• 10. Hospitals in Canada

  Revenue for 2026: $95.9B

  Hospitals, serving as the primary providers of specialized and emergency medical services, are the most significant portion of health care spending in 2024, according to the Canadian Institute for Health Information (CIHI). Hospitals treat patients regardless of economic circumstances, but income growth and universal insurance coverage have made elective care more accessible to a broader population. While the pandemic's sudden impact left hospitals to face unprecedented challenges to finances...

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