Fastest Growing Industries by Exports in Canada in 2025

1. Battery Manufacturing in Canada

Growth in Exports for 2025: 25.0%

The Battery Manufacturing industry in Canada has experienced strong growth in recent years; there is growing demand for batteries in various applications, including portable electronics, electric vehicles, and renewable energy storage. This has created opportunities for Canadian battery manufacturers to expand their operations and increase production. The Canadian government has made significant investments in the development and commercialization of battery technology, including funding research and development programs, providing tax incentives and supporting the growth of the electric vehicle industry. This support has helped to attract investment and create opportunities for Canadian battery manufacturers. Consequently, industry revenue is anticipated to grow... Learn More

2. Navigational Instrument Manufacturing in Canada

Growth in Exports for 2025: 11.6%

Navigational instrument manufacturers have exhibited hiccups over the period stemming from the pandemic and import penetration. Even so, having a diverse product line and selling to a variety of markets has shielded companies from major declines. Overall, revenue is expected to fall at a CAGR of 1.7% to $2.1 billion over the next five years, including a 2.7% rise in 2023 alone, with profit reaching 12.3% in 2023.

Manufacturers have continued to emphasize the importance of research and development (R&D) to combat competition, bolster profit and sustain revenue. The average salary for employees exceeds $100,000 as companies seek highly skilled engineers... Learn More

3. Concrete Pipe & Block Manufacturing in Canada

Growth in Exports for 2025: 10.8%

The Concrete Pipe and Block Manufacturing industry in Canada is forecasted to experience growth over the five years to 2023. However, it's anticipated that demand for concrete pipes and blocks will decline in 2022 and 2023 due to higher interest rates, forcing a sharp decrease in residential construction. However, the downturn in demand from residential construction ventures is projected to be compensated by an uptick in government spending on concrete-intensive projects like bridge construction and highway improvement. Despite experiencing a 4.3% dip in 2023, industry revenue is projected to increase at a CAGR of 1.8% to $1.7 billion in the... Learn More

4. Ship Building in Canada

Growth in Exports for 2025: 9.2%

The Canadian ship building industry will expand through the end of 2023. Ship builders build, modify, convert and repair ships, including warships, icebreakers, ferries and offshore platforms. Prior to the current period, this industry was troubled, competing with foreign builders while dealing with inconsistent domestic demand. In an effort to rebuild its navy and coast guard, the federal government launched the extensive National Shipbuilding Strategy (NSS) which effectively solved this problem. The industry was able to begin its expansion since most of these projects will take more than a decade. Still, the industry was not immune to the negative economic... Learn More

5. Computer Manufacturing in Canada

Growth in Exports for 2025: 7.9%

Computer manufacturers have undergone long-term decline 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 revenue growth. Several major operators have exited the industry prior to the current period. Revenue drastically dropped heading into the period because of these exits, but it evened out prior to the COVID-19 pandemic, which caused growth, then additional decline as supply chain difficulties resulted in low... Learn More

6. Automobile Electronics Manufacturing in Canada

Growth in Exports for 2025: 7.9%

Over the five years to 2023, slight growth in the Automobile Electronics Manufacturing industry in Canada is expected to be fueled by temporary factors, chiefly strong trade prospects. Despite a decline in vehicle production, the growing popularity of industry products have supported company performance. Disruptions due to the pandemic caused a large drop in revenue, though partial recovery is expected to have occurred. Reflecting these developments, industry revenue has been declining at a CAGR of 2.6% over the past five years, and is expected to total $2.2 billion in 2023. Growth of 1.6% is expected over the current year.

Industry exports... Learn More

7. SUV & Light Truck Manufacturing in Canada

Growth in Exports for 2025: 7.7%

Revenue for SUV and light truck manufacturers in Canada is projected to decrease throughout 2023, due to disruptions caused by the COVID-19 pandemic and volatile economic conditions. With the export market accounting for over 50.0% of industry revenue in 2023, of which more than 95.0% is destined for the United States, industry operators are heavily reliant on US economic conditions. Despite a robust economic recovery after the peak of the pandemic, industry production has not fully recovered to the levels exhibited earlier in the period. As a result, the industry has declined at a CAGR of 7.4% over the past... Learn More

8. Glasses & Contact Lens Manufacturing in Canada

Growth in Exports for 2025: 7.0%

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, Alfabank-Adres projects revenue to continue expanding as industry products are considered an essential health expenditure for many consumers. As a result, Alfabank-Adres projects industry revenue will increase at an annualized... Learn More

9. Semiconductor & Other Electronic Component Manufacturing in Canada

Growth in Exports for 2025: 5.7%

Canadian semiconductor and other electronic component manufacturers produce various input devices for circuits and memory chips. In recent years, manufacturers experienced mild volatility amid continued offshoring and greater competition from US and East Asian manufacturers. Any expansion has been driven by robust demand for domestically and abroad semiconductor products, and a global shortage for electronic components. COVID-19 has diminished manufacturers' performance by disrupting production plans and creating supply chain challenges. Industry-wide revenue is expected to rise at a CAGR of 0.3% to $5.4 billion over the five years to 2023, when revenue is forecast to jump 6.4% as high prices... Learn More

10. Millwork in Canada

Growth in Exports for 2025: 5.4%

The Millwork industry in Canada manufactures products that are used primarily in construction products and as a result, industry revenue is closely tied to downstream construction markets. One of the industry's largest markets is renovation expenditures and growth in home improvement spending in response to rising incomes and home prices has sustained industry performance. Canadian real estate has been increasing in value, even since before the pandemic. The fiscal and monetary stimulus pushed real estate prices even higher. Rising interest rates to combat inflation are reducing demand for debt in general, but for mortgages, in particular. Millwork revenue has been... Learn More