Biggest Industries by Revenue in Canada in 2021

1. Commercial Banking in Canada

Revenue for 2021: $240.1B

Despite low interest rates and some hiccups in economic growth, the Commercial Banking industry in Canada has expanded over the five years to 2020. Banks have done an exceptional job of diversifying revenue streams and overcoming limits imposed by low interest rates and 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. Consequently, industry revenue is expected to grow an annualized 9.4% to $240.2 billion over the five years to 2020 with an increase... Learn More

2. Gasoline & Petroleum Bulk Stations in Canada

Revenue for 2021: $202.7B

Companies in the Gasoline and Petroleum Bulk Stations industry in Canada manage bulk storage tanks and terminals for crude oil and petroleum products such as gasoline, diesel fuel, fuel oil and liquid petroleum gases. These bulk stations are often located near major refineries, ports and industrial centres to quickly and efficiently receive product and unload it to customers. These stations play an important role in the supply chain of crude oil and petroleum products. Given that the industry serves as a conduit between petroleum refiners and markets further downstream, the industry's performance is intimately linked to the supply of and... Learn More

3. Gasoline & Petroleum Wholesaling in Canada

Revenue for 2021: $127.0B

The Gasoline and Petroleum Wholesaling industry in Canada distributes petroleum products to retail gas stations, manufacturers and other customers. The price of industry products is tied to global crude oil prices, which can cause significant volatility for operators. Crude oil prices rose sharply in the years leading up to the reporting period due to growing global economic activity and rising demand, which prompted strong growth in revenue. However, oversupply and slow demand from many developed and emerging economies resulted in prices dropping sharply in 2015 and 2016. In 2016, the world price of crude oil declined 15.7%, with industry revenue... Learn More

4. New Car Dealers in Canada

Revenue for 2021: $125.0B

Over the five years to 2020, revenue for the New Car Dealers industry in Canada is expected to expand, albeit marginally. While demand for automobiles has been driven by healthy economic conditions during the majority of the five-year period, such as rising consumer confidence and low unemployment, the COVID-19 (coronavirus) pandemic has caused the reversal of many of these trends over the current year. However, due to the government's Economic Response Plan to the coronavirus pandemic, disposable income in Canada is expected to rise in 2020 following various programs and support payments made to individuals and families, protecting operators from... Learn More

5. Supermarkets & Grocery Stores in Canada

Revenue for 2021: $102.8B

The Supermarkets and Grocery Stores industry in Canada has experienced strong growth over the five years to 2020, which can be attributed to an expected spike in revenue in 2020 amid the COVID-19 (coronavirus) pandemic. Between 2015 and 2019, while rising levels of consumer confidence and slight growth in per capita disposable income provided an optimal business environment, the proliferation of supercentres stifled industry revenue as it increased price-based competition and provided customers with a one-stop shopping experience. Many consumers sought cost savings at grocery stores, stocking up on promotional items or trading down to private label brands. In response... Learn More

6. Life Insurance & Annuities in Canada

Revenue for 2021: $76.7B

The Life Insurance and Annuities industry in Canada has experienced a decline over the five years to 2020 amid the COVID-19 (coronavirus) pandemic. Industry operators accept liability for annuities and life insurance policies, disability income and accidental death and dismemberment insurance policies, while also investing the premiums received by clients into a variety of financial securities. The industry has mainly suffered from the negative economic effects caused by the coronavirus pandemic, such as lower interest rates and an increase in the morbidity rate. As a result, industry revenue is expected to decline an annualized 1.6% to $76.7 billion over the... Learn More

7. Hospitals in Canada

Revenue for 2021: $69.7B

The Hospitals industry in Canada, which includes medical and surgical hospitals, has exhibited stable growth between 2016 and 2019. Canada's healthcare system is predominately public, with 70.4% of funding coming from the public sector and the remainder from the private sector, according to the “National Health Expenditure Trends 2020” report by the Canadian Institute for Health Information (CIHI). Therefore, the industry is heavily dependent on both federal and provincial funding, which is mostly allocated via global budgets systems, where a fixed payment amount is allocated to a provider to cover operating expenses for a period of time.

While industry operators... Learn More

8. Petroleum Refining in Canada

Revenue for 2021: $69.2B

Revenue for the Canadian Petroleum Refining industry has been volatile over the five years to 2021. Crude oil is the primary input into industry products, and therefore, its price is the primary driver of industry revenue. Revenue surged in the years leading up to the reporting period in the wake of rising oil prices, although following their peak, industry revenue began to fall slowly before the world price of oil plummeted in 2016, resulting in significant declines in industry revenue. A subsequent price recovery in 2017 helped the industry rebound by double-digits during the following two-year period. Overall, industry revenue... Learn More

9. Oil Drilling & Gas Extraction in Canada

Revenue for 2021: $66.9B

The Oil Drilling and Gas Extraction industry in Canada is highly dependent on global market prices of crude oil and natural gas. The industry experienced booming growth in the years leading up to the reporting period, with rising prices leading to significant growth in investment. In turn, industry production of natural gas and oil has risen consistently over the past decade. However, the prices of both commodities are expected to grow over the five years to 2021, resulting in growth in industry revenue and capital investment. Industry revenue is expected to grow an annualized 10.6% to $126.1 billion over the... Learn More

10. Property, Casualty and Direct Insurance in Canada

Revenue for 2021: $65.9B

Operators in the Property, Casualty and Direct Insurance industry in Canada service individuals and businesses by providing protection against a variety of man-made and natural events, such as car accidents, severe storms, wildfires, business theft and medical malpractice. The industry has grown steadily over the five years to 2020 and has benefited from gradual growth in per capita disposable income and residential values, which have enabled industry operators to charge higher premiums. Moreover, as the Canadian population has grown, aged, urbanized and gotten progressively wealthier, demand was boosted for property, casualty and direct insurance. Industry revenue is expected to increase... Learn More