Based on the expert analysis and our database of 480+ CA industries, IBISWorld presents a list of the Fastest Declining Industries in Canada by Revenue Growth (%) in 2019
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View a list of the Top 25 fastest declining industries2018-2019 Revenue Growth: -17.2%
Canada is well suited for generating wind-powered electricity, given that it has large tracts of land and abundant wind resources. Consequently, installed wind power capacity in Canada has grown over the five years to 2019, due to federal and provincial government incentives designed to reduce greenhouse gases and promote clean energy. These incentives include tax deductions, feed-in tariffs and governmental guarantees to purchase wind electricity. However, the Canadian Wind Turbine Manufacturing industry contracted significantly over the five years to 2019. Industry revenue has trailed behind the spike in Canadian wind turbine installations during this period, as turbine prices dropped substantially due to increased... Learn More
2018-2019 Revenue Growth: -9.1%
While operating conditions for the Shoe and Footwear Manufacturing industry in Canada have been positive over the five years to 2019, the industry still struggles against rising imports. Both per capita disposable income and consumer expenditure are expected to rise in Canada during the five-year period, driving rising domestic demand for industry products. Additionally, the Canadian dollar's depreciation relative to the currencies of its trading partners has fuelled rising international demand for increasingly affordable industry exports, while decreasing the price competitiveness of footwear imports domestically. However, due to rising foreign competition, industry revenue is projected to decline at an annualized... Learn More
2018-2019 Revenue Growth: -8.9%
Operators in the Oil and Gas Field Services industry in Canada have experienced volatile market conditions over the five years to 2019. World commodity prices performed well in the years leading up to the reporting period. However, a protracted fall in natural gas and crude oil prices adversely affected revenue between late 2014 and 2016. While conditions began to improve in 2017 as prices returned to growth, they remain low relative to the peaks reached prior to the reporting period. As a result, over the five years to 2019, IBISWorld forecasts revenue to fall an annualized 10.0% to $29.5 billion.... Learn More
2018-2019 Revenue Growth: -7.4%
The Vending Machine Operators industry in Canada has struggled to keep pace with changing consumer tastes, resulting in a contraction in industry revenue over the five years to 2019. In all, revenue is projected to have dropped at an annualized rate of 8.5% to $457.7 million over the past five years. During this time, consumers have cut their discretionary spending on many of the foods traditionally sold in vending machines when the price of those products increased. However, consumers that did not eliminate spending on these goods were more likely to acquire them from less expensive outlets such as grocery... Learn More
2018-2019 Revenue Growth: -7.3%
The Engine and Turbine Manufacturing industry in Canada primarily produces diesel engines for heavy-duty vehicles, trains and marine applications, turbines and power generation equipment for utilities. Trade is essential to this industry, as engine and turbine manufacturers benefit from exports, which account for almost two-thirds of industry revenue. Industry success is also dependent on domestic industrial output and manufacturing activity, as industry operators supply original equipment manufacturers with turbines and in-house power-generation equipment.Industry revenue is expected to decrease an annualized 8.5% to $1.5 billion over the five years to 2019. As with many manufacturing industries in Canada, the industry has declined... Learn More
2018-2019 Revenue Growth: -6.7%
The Newspaper Publishing industry in Canada is reeling as a result of competition from digital platforms. Typically, industry revenue is dependent on consumers' per capita disposable income levels and print advertising expenditure, which, in turn, are determined by corporate profit. Amid slow growth in total advertising expenditure over the five years to 2019, print advertising has declined sharply. More readers are now opting to read news articles online, augmented by the rapid adoption of tablet and mobile devices. Due to declining readership and lower advertising revenue streams, industry revenue is expected to decline an annualized 7.8% to $2.8 billion over... Learn More
2018-2019 Revenue Growth: -5.6%
The DVD, Game and Video Rental industry in Canada experienced a massive contraction over the five years to 2019 due to increased pressure from non-industry competitors, including video streaming websites, on-demand services and rental kiosks. The affordability and flexibility associated with these substitutes compelled consumers to rent DVDs, games and videos from these competitors, diminishing demand for the industry’s services. The inherent cost advantages of streaming and non-industry rental services have also forced industry operators to lower their prices, contributing to the anticipated 2.2% decline in industry revenue in 2019 alone. Overall, IBISWorld estimates that industry revenue will contract an... Learn More
2018-2019 Revenue Growth: -5.5%
Canada is one of the world’s largest producers of crude oil and natural gas, as well as a range of other metal and mineral commodities, and this has traditionally benefited the Mining, Oil and Gas Machinery Manufacturing industry in Canada, which produces goods used by extraction industries. Revenue is closely tied to commodity prices, as these can dictate levels of investment and activity by extraction companies. Commodity prices have been hugely volatile over the five years to 2019, with prices of many goods tanking during the first half of the reporting period, causing exploration activity and demand for industry products... Learn More
2018-2019 Revenue Growth: -5.5%
The Pump and Compressor Manufacturing industry in Canada services an array of downstream markets. Resource companies purchase oil well pumps and natural gas compressors, while manufacturers and utilities contractors employ industrial pumps and air compressors. Increasingly, operators have turned to global markets, as high import competition fulfills an estimated 90.2% of domestic demand for industry products and puts significant pressure on Canadian operators. As a result, industry revenue is heavily dependent on exports, which account for over three-fourths of revenue. However, the industry's heavy reliance on oil and gas led to strong revenue declines in the years 2015 and 2016... Learn More
2018-2019 Revenue Growth: -5.1%
Over the five years to 2019, the Women’s Clothing Stores industry in Canada has experienced decline due to growing external competition and patchy consumer confidence. While rising levels of disposable income and stable economic growth have enabled Canadian consumers to increase spending on a wide variety of both essential and nonessential goods, including blouses, dresses, pants, accessories and other products sold by industry retailers, many shoppers have turned to online retailers to fulfill those needs. Consequently, external industries that also sell women’s clothing, such as online retailers and department stores, have siphoned significant revenue from industry operators during the five-year... Learn More
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