Most Profitable Industries in Canada in 2025

1. Commercial Banking in Canada

Total Profit for 2025: $152.0B

Despite low interest rates and some hiccups in economic growth, commercial banks in Canada have expanded throughout 2023. Banks have done an exceptional job diversifying revenue streams, overcoming limits imposed by low interest rates, and increasing regulations. The industry primarily generates revenue through interest income sources, such as business loans and mortgages, but it also generates income through noninterest sources, which include fees on a variety of services and commissions. Industry revenue has been growing at a CAGR of 2.2% over the past five years and is expected to total $275.4 billion in 2023, when revenue will likely jump an... Learn More

2. Apartment Rental in Canada

Total Profit for 2025: $19.6B

Revenue for Canadian apartment lessors has grown in recent years. Apartment lessors collect rental income from properties they lease, where the rates they charge are largely determined by market forces. The supply of apartment rentals has grown at a slower rate than demand, which has elevated rental rates to the benefit of lessors. Favourable economic conditions and demographic trends during most of the period have driven growth in demand. In 2020, the spread of COVID-19 lessened demand for apartment rentals, but the nature of apartment leases prevented a decline in revenue until 2021. Revenue has grown since 2022 as higher... Learn More

3. Automobile Wholesaling in Canada

Total Profit for 2025: $7.4B

Revenue for the Canadian Automobile Wholesaling industry tends to ebb and flow with general fluctuations in the overall economy, particularly at the consumer level. Industry operators heavily rely on economic conditions in the United States, as a large portion of revenue is derived from Canada's southern neighbour. Although international trade is accounted for at the manufacturing level, industry operators still target cross-border downstream markets, such as US automobile and heavy-duty truck dealerships.

Despite a steady economy for most of the period, industry revenue is expected to experience a deep decline due to decreased demand stemming from the COVID-19 pandemic. Automobile wholesaling... Learn More

4. Hotels & Motels in Canada

Total Profit for 2025: $6.1B

Hotels and motels have benefited from rising incomes and population growth in recent years as consumers spent freely on vacations and hotel stays. But, when COVID-19 shut down tourism, hotel rooms were left empty, creating long-lasting financial and operational challenges. A travel slump through early-2021 left the industry struggling, as bookings stayed at a fraction of what they were in 2019. Yet, long periods at home left consumers with savings and pent-up demand to spend on trips as travel restrictions lifted. While enormous demand for travel led to a rapid recovery at hotels between 2022 and 2023, supply chain disruptions... Learn More

5. Property, Casualty and Direct Insurance in Canada

Total Profit for 2025: $4.5B

Property, casualty (P&C) and direct insurers service individuals and businesses by providing protection against a variety of man-made and natural events, such as car accidents, severe storms, wildfires, business theft and medical malpractice. The industry has slightly declined throughout 2023 but has still benefited from gradual growth in per capita disposable income and corporate profit, which have enabled industry operators to charge higher premiums. Moreover, as the Canadian population has grown, aged, urbanized and gotten progressively wealthier, demand was boosted for property, casualty and direct insurance. However, revenue is still expected to decrease at a CAGR of 0.5% to $77.6... Learn More

6. Renewable Power in Canada

Total Profit for 2025: $3.8B

Throughout 2023, renewable power companies have expanded. While the industry has benefited from an improving economy, industrial output has slightly decreased in response to the coronavirus pandemic. This dampened demand from some of the industry's major markets; specifically, commercial and industrial markets, as many industries were forced to shut down to help mitigate the spread of coronavirus. Overall, industry revenue has been growing at a CAGR of 2.2% over the past five years and is estimated to reach $39.5 billion in 2023. This includes a 1.1% rise in 2023 alone, when profit will reach 16.7%. This growth in 2023 can... Learn More

7. Home Care Providers in Canada

Total Profit for 2025: $3.2B

The Home Care Providers industry in Canada has grown, with a multitude of diverse companies offering services to growing healthcare markets. Operators cater largely to the elderly population, which is growing at a rate exceeding the national population growth rate, and to individuals suffering from chronic illnesses and disabilities. As operators have expanded their service offerings, they have become an attractive alternative to institutionalized healthcare settings, such as hospitals and rehabilitative centres, which are generally less personal and more expensive. Consequently, industry revenue is projected to have increased at a CAGR of 5.5% to reach $7.1 billion in 2023, when... Learn More

8. Engineering Services in Canada

Total Profit for 2025: $2.6B

The Engineering Services industry in Canada, which provide consulting, design, feasibility studies and technical services for a variety of projects, has grown as a result of improved downstream demand from several key markets, especially commodities-driven industries. Through 2020, the low prices of oil and has limited growth, with the COVID-19 pandemic execrating the decline in global demand. However, rapid growth in oil and gas prices in both 2021 and 2022 has driven a tremendous upswing in new demand from oil, gas and mining clients, propelling industry revenue to rise 13.6% in 2022 alone. Despite volatility, industry revenue is forecast to... Learn More

9. Sporting Goods Stores in Canada

Total Profit for 2025: $2.5B

The Sporting Goods Stores industry in Canada has withstood challenges from intense competition, with sales of bicycles, camping equipment, exercise and fitness equipment, apparel and footwear ultimately expected to grow. The industry was able to withstand the COVID-19 pandemic, rebounding on account of strong per capita disposable income growth and a renewed interest in pursuing athletic hobbies by Canadians. Nonetheless, the pandemic contributed to a challenging retail environment that has fared with competition from discount department stores and e-commerce sites, alternative outlets that are typically able to offer lower prices and a wider variety of goods to consumers. Overall, industry... Learn More

10. TV & Appliance Wholesaling in Canada

Total Profit for 2025: $1.5B

TV and appliance wholesalers in Canada have benefited from consistent spending from downstream markets, a trend that has continued despite the global disruptions triggered by the COVID-19 pandemic. As lockdown measures pushed more people to spend time at home, many undertook home renovations and boosted the usage of their appliances – driving up wholesalers' sales. Despite global supply chain disruptions, the higher sales volume offset the impact of elevated supply chain expenses on profit. But, increasing interest rates and looming recession fears are straining demand for new appliances and TVs in 2023. While sales haven't completely contracted for a sector... Learn More