Most Profitable Industries in Canada in 2026

• 1. Oil Drilling & Gas Extraction in Canada

  Total Profit for 2026: $18.3B

  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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• 2. Apartment Rental in Canada

  Total Profit for 2026: $16.5B

  Revenue for Canadian apartment lessors has increased through the end of 2026. Apartment lessors collect rental income from rental properties, so market forces largely determine their rates. The supply of apartment rentals has grown more slowly than demand, driving up rental rates to the benefit of lessors. Favourable economic conditions and demographic trends throughout most of the period have driven demand growth. In 2020, the spread of COVID-19 lessened demand for apartment rentals, but the...

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• 3. Petroleum Refining in Canada

  Total Profit for 2026: $11.0B

  Revenue for the Canadian Petroleum Refining industry has been volatile. Crude oil is the primary input into industry products, therefore its price is the primary driver of industry revenue. However, the collapse in oil prices during the pandemic in 2020 had driven refinancing revenue down. Subsequently, high demand and ongoing supply chain disruptions led crude oil prices to spike sharply, translating into an industry revenue boom in 2021 and 2022. However, tempered oil prices in 2024 and 202...

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• 4. Oil & Gas Field Services in Canada

  Total Profit for 2026: $7.5B

  Canada's oil and gas field service operators have experienced volatile market conditions throughout 2026. World commodity prices performed well throughout the reporting period, especially with a hot start in 2021 as oil and gas prices skyrocketed amid supply constraints. Nonetheless, a two-year surge was eventually met with gradual dips as supply issues wavered away. As a result, revenue has increased at a CAGR of 2.1% over the past five years, reaching an estimated $48.4 billion in 2026. Thi...

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• 5. Automobile Wholesaling in Canada

  Total Profit for 2026: $6.8B

  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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• 6. Gold & Silver Ore Mining in Canada

  Total Profit for 2026: $6.3B

  Gold and silver ore mining continues to thrive as production levels remain elevated, driven largely by Canada's significant gold deposits, which account for over 98.0% of revenue garnered from gold product sales. Early in the current period, in 2021 and 2022, industry returns fell from pandemic-era highs; during the pandemic, escalating gold prices attracted investor attention because of gold's unique properties as a countercyclical asset, offering a hedge against inflation and market volatil...

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• 7. Property, Casualty and Direct Insurance in Canada

  Total Profit for 2026: $6.1B

  Over the past five years, Canadian property, casualty and direct insurers have faced sluggish revenue growth as macro headwinds and substitutes undercut demand. Record inflation in 2022 squeezed household and business budgets, depressing purchases of cars, homes and other insurable assets, while later rate hikes stirred recession fears and softened demand again in 2024. At the same time, more consumers are opting to self-insure smaller risks through savings and investment portfolios, eroding ...

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• 8. Meat Processing in Canada

  Total Profit for 2026: $5.1B

  The Canadian meat, beef and poultry processing industry is a cornerstone of the nation's food manufacturing sector. Despite its essential role, the industry has faced significant challenges recently. A growing awareness of the health risks associated with red meat consumption, such as obesity, heart disease and certain cancers, has prompted many Canadians to reevaluate their dietary habits. Consequently, per capita meat consumption has stagnated, pressuring market prosp...

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• 9. Real Estate Sales & Brokerage in Canada

  Total Profit for 2026: $4.9B

  Real estate sales and brokerage services are closely aligned with the health of the Canadian real estate market. Revenue rises alongside property prices and real estate transaction volumes as real estate agents are paid on commission when they close a deal. The industry has experienced significant volatility through the end of 2026, as fluctuations in interest rates have heavily impacted demand. Revenue will drop at a CAGR of 9.2% to $19.3 billion through the end of 2026, despite an estimated...

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• 10. Renewable Power in Canada

  Total Profit for 2026: $4.8B

  Renewable power producers have endured declines, largely because of drought conditions impacting hydroelectric generation in provinces like British Columbia and Manitoba. These challenges have led to increased reliance on electricity imports and have raised operational costs, hindering profit. However, Hydro-Québec's resilience, because of more favourable conditions, has allowed it to maintain stability and even expand its market share. Industry revenue has been stagnant over the past five ye...

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