In this article, we take a peek into the biggest industries in Canada in 2022 by revenue based on the expert data and analysis of IBISWorld, one of the world’s largest and most trusted industry research publishers.
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Here are some of the largest industries by revenue in Canada this year listed by IBISWorld:
Commercial Banking
The Commercial Banking industry in Canada’s revenues in 2022 is $240.1B and is still projected to moderately grow within 2021-2026 as the economy normalises and recovers from the impacts of COVID-19. Toronto-Dominion Bank, Royal Bank of Canada, and Canadian Imperial Bank of Commerce are some of the companies that take the largest market share of the industry.
Gasoline and Petroleum Bulk Stations
The forecasted healthy sales volume of this industry for at least the next four years is driven by growth in domestic oil production and increasing demand from downstream industries. In 2022, the revenue of Gasoline and Petroleum Bulk Stations is at $202.7B with Shell Canada Limited, Suncor Energy Inc., and Imperial Oil Limited as the biggest market shareholders of this industry.
IT Consulting
Recording a $67.1B revenue in 2022, the IT Consulting Industry sales volume is driven by the increasing demand for cloud-based services, mobile apps, and industry-leading software solutions. The industry is comprised of both private and public sector organisations responsible for the design and management of information technology (IT) systems. IBM Canada Limited is one of the biggest market shareholders in the IT Consulting industry in the country.
Hospitals
70% of Canada’s healthcare system is funded by the public sector and the remainder by the prices sector. The Hospitals Industry in the country, which registers a $69.2B revenue for 2022, includes general medical and surgical hospitals that maintain beds and also provide outpatient and pharmacy services. Vancouver General Hospital, Rockyview General Hospital, and the University of Alberta Hospital are some of the largest hospitals in Canada.
Supermarkets and Grocery Stores
Canada’s Supermarkets and Grocery Stores revenue for 2022 is at $98.2B and has experienced a spike in revenue growth amidst the pandemic– mainly impacted by the state of emergencies across provinces and territories. IBISWorld has reported that the industry’s sales volume is anticipated until 2026 as the economic conditions improve as well as the people’s purchasing power. Loblaw Companies Limited, Empire Company Limited, and Jim Pattison Group are some of the largest supermarkets and grocery stores in Canada.
