Based on the expert analysis and our database of 480+ CA industries, IBISWorld presents a list of the Industries with the Highest Growth in Employment in Canada in 2024
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View a list of the Top 25 industries with the highest growth in employmentEmployment Growth for 2024: 9.3%
Canadian wind turbine manufacturing will expand significantly through the end of 2023. Canada is well-suited for generating wind-powered electricity, given that it has large tracts of land and abundant wind resources. Installed wind power capacity in Canada has grown through the end of 2023, aided by 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. Wind turbine manufacturing revenue has been surging at a CAGR of 14.5% over the past five years and is expected to total $1.8 billion in 2023,... Learn More
Employment Growth for 2024: 8.9%
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
Employment Growth for 2024: 8.5%
The E-Commerce and Online Auctions industry in Canada comprises retailers that primarily sell their products online. Accelerated by the rising number of internet and mobile connections, industry revenue is expected to post strong gains, increasing at an expected CAGR of 17.6% to $31.7 billion over the past five years, including an expected increase of 7.7% in 2023 alone. The exceptional rate of growth in this industry is aided in part by increasing internet traffic volume like the number of fixed broadband and mobile connections. Additionally, the coronavirus created a unique opportunity for the industry to benefit from consumers not being... Learn More
Employment Growth for 2024: 8.0%
Cannabis producers in Canada have blossomed in recent years as recreational products were legalized in 2018, opening up massive growth. Since Health Canada opened up medicinal cannabis production to more players in 2013, producers have grown continuously as they invest in production capabilities to produce quality products. As consumers shifted from illegal cannabis purchases to the licensed recreational market, cannabis growers have grown significantly, but revenue is expected to expand 17.5% in 2023 alone as the novelty of legal cannabis has worn off and most the black market has shifted to licensed purchases, which has decreased growth. Revenue has ballooned... Learn More
Employment Growth for 2024: 7.9%
Semiconductor machinery manufacturers supply capital equipment for various processes in semiconductor manufacturing. While semiconductors have become the foundation of nearly every technology today, years of outsourcing semiconductor manufacturing put Canada in a weak position globally. Rising import penetration has been specifically challenging to the domestic industry. East Asian countries dominate semiconductor production, where enormous scale, massive R&D investment and lower-cost labour make it near impossible for domestic manufacturers to compete.But, an explosion in semiconductor demand during the COVID-19 pandemic led to supply shocks, boosting machinery purchases from domestic and foreign manufacturers expanding production volume. High interest rates and concerns about... Learn More
Employment Growth for 2024: 7.7%
Canadian tour operators have been extremely volatile in recent years. With the domestic economy's expansions prior to the COVID-19 pandemic, international trips taken by Canadians increased. Greater international exposure for the Canadian tourism industry, coupled with overall global economic growth, motivated more foreigners to visit and book tours in Canada, leading to increased inbound international travel. The COVID-19 pandemic shocked the global tourism sector, with countries closing borders, government authorities keeping only essential businesses open and strict travel restrictions being put in place. Many travellers cancelled their trips while people that were planning trips ended up delaying them indefinitely, decimating... Learn More
Employment Growth for 2024: 7.6%
The Glasses and Contact Lens Manufacturing industry in Canada produces eyeglass lenses, frames, and protective eyewear. Several of the industry's product segments are essential to the visually impaired, somewhat insulating the industry from economic downturns. While rising per capita disposable income has enabled consumers to increase expenditure on glasses and contacts, competitively priced imports satisfy a significant portion of consumer demand for industry products. Although COVID-19 hindered the overall economy, IBISWorld projects revenue to continue expanding as industry products are considered an essential health expenditure for many consumers. As a result, IBISWorld projects industry revenue will increase at an annualized... Learn More
Employment Growth for 2024: 7.4%
Travel agencies have struggled due to COVID-19, and the rise of internet travel booking has interfered with the core services of travel agencies. Online travel agents now play a larger role alongside traditional brick-and-mortar businesses. Most agencies suffered in 2020 as governments imposed restrictions on travel, leading revenue to fall at a CAGR of 7.7% to $1.9 billion through the end of 2023, including a 11.5% increase in 2023 alone.
This has led to an unprecedented level of cancellations. Despite the economy showing signs of recovery in 2021, the overall travelling industry continued to endure difficulties. While many countries continued vaccinating... Learn More
Employment Growth for 2024: 7.3%
Despite experiencing intensifying competition from online ophthalmological goods retailers, Canadian optometrists have grown in recent years. Demand has been driven by a burgeoning elderly population and increased awareness of the importance of eye health. Increased advertising has benefited optometry practices as several provincial organizations implemented advertising campaigns to raise public awareness of the potential hazards of purchasing online eyewear products. One potential hazard is the product's incorrect prescription, which could negatively affect eyesight.
In addition to a changing competitive landscape, optometrists have had to adapt to a new regulatory environment. For example, in British Columbia, the deregulation of prescription eyewear permitted... Learn More
Employment Growth for 2024: 7.3%
The industry consists of two distinct segments, which include large couriers and small-scale delivery companies. These segments cater to a wide variety of consumers, with demand for each segment differing based on the services offered. For instance, while downstream demand for courier services primarily stems from manufacturers and retailers that require couriers to transport commercial goods over relatively long distances, demand for local delivery services is typically derived from niche businesses and individual consumers. Demand for these services is generally cyclical, however, and the pandemic and the associated prioritization of delivery spurred demand for industry services in 2020. Overall, industry... 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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