Fastest Declining Industries in Canada by Revenue Growth (%) in 2019

1. Wind Turbine Manufacturing in Canada

2018-2019 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

2. Computer Peripheral Manufacturing in Canada

2018-2019 Revenue Growth: -16.3%

The Computer Peripheral Manufacturing industry in Canada has been declining over the five years to 2019, as strong international competition has brought low-cost imports into the domestic market at a high rate. Industry products are still desirable in the corporate space, although individual consumers are increasingly purchasing mobile devices. These products rarely require peripheral add-ons, which is also stifling industry expansion. IBISWorld expects industry revenue to decrease an annualized 17.3% to reach $418.8 million over the five years to 2019.

Several major operators have departed from the industry over the past five years, in part because of the low-cost imports... Learn More

3. Computer Manufacturing in Canada

2018-2019 Revenue Growth: -12.1%

The Computer Manufacturing industry in Canada has declined as fierce international competition continues to flood the domestic market with low-cost imports. This influx of imports has been driven by foreign competitors, primarily from developing economies that have lower labour and production costs. Competition combined with product standardization has exerted strong downward pressure on prices, lowering industry revenue. Consequently, several major operators have exited the industry over the five years to 2019. Revenue is tied to export volume, and since fewer enterprises have exported goods to other countries, primarily the United States, revenue has drastically dropped. As a result, industry revenue... Learn More

4. Oil & Gas Field Services in Canada

2018-2019 Revenue Growth: -11.2%

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 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. Over the five years to 2019, IBISWorld forecasts revenue to fall an annualized 12.3% to $26.0 billion. The industry has so... Learn More

5. Shoe & Footwear Manufacturing in Canada

2018-2019 Revenue Growth: -8.8%

While demand conditions for the Shoe and Footwear Manufacturing industry in Canada have been positive over the five years to 2019, the industry has struggled to capitalize, due to intensifying external competition. 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, both foreign and domestic consumer demand for footwear has been... Learn More

6. Vending Machine Operators in Canada

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

7. Wired Telecommunications Carriers in Canada

2018-2019 Revenue Growth: -7.4%

Over the past decade, rapid technological advancements have changed the way humans interact, pushing the Wired Telecommunications Carriers industry in Canada to the sidelines of communication. External competition from the domestic Wireless Telecommunications Carriers industry (see IBISWorld report 51721CA) and Voice over Internet Protocol (VoIP) software have eaten away at sales from the industry's traditional sources of revenue, which are local and long-distance telephony services. Overall, revenue is expected to contract an annualized 8.5% to $5.4 billion over the five years to 2019. This includes revenue falling 11.2% in 2019 alone

Although households with high incomes initially purchased both wireless and... Learn More

8. Engine & Turbine Manufacturing in Canada

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

9. Newspaper Publishing in Canada

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

10. DVD, Game & Video Rental in Canada

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