Based on the expert analysis and our database of 480+ CA industries, 麻豆区 presents a list of the Industries with Least Risky Business Environments in Canada in 2024
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View a list of the Top 25 industries with least risky business environmentsBusiness Environment Risk for 2024: 3.51
The Oil Change Services industry in Canada has experienced growth over the five years to 2023. Industry establishments provide motor oil change services for cars, in addition to lubricating car chassis and providing other repair and maintenance services. Typically, demand for oil changes and other vehicle maintenance services is determined by the total number of vehicles on the road. Over the past five years, industry demand has grown with an increasing number of motor vehicle registrations; however, the COVID-19 pandemic and high fuel prices have posed a challenge to many businesses. Overall, industry revenue is forecast to increase at CAGR... Learn More
Business Environment Risk for 2024: 3.63
Auto mechanics in Canada have been providing widely accepted and increasingly diverse automotive repair services to individual and business customers. Revenue growth is determined by demand from consumers, businesses and government agencies, most of which have increasingly sought out industry services due to rising total vehicle-kilometres and motor vehicle registrations. But industry revenue declined at a CAGR of 0.2% to $11.5 billion through the end of 2023, including a 4.5% increase in 2023, when profit reached 7.8%. This increase in 2023 can be mainly attributed to improving economic conditions after the pandemic. As more people get back on the road,... Learn More
Business Environment Risk for 2024: 3.66
Despite broader economic volatility in recent years, auto parts stores have had success growing revenue, which is determined by demand from both household and commercial clients. The COVID-19 pandemic severely eroded revenue in the retail sector over 2020, but due to the essential nature of auto parts stores, they remained open and experienced expansion. This contributed to solid growth for auto parts stores in recent years, as revenue has grown an annualized 2.4% to reach $7.5 billion over the five years to 2023, including 1.1% over 2023 alone. Profit has fallen over the past five years as price-based competition has... Learn More
Business Environment Risk for 2024: 3.87
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
Business Environment Risk for 2024: 3.97
An expanding economy has moderated revenue declines in the car wash industry over the five years to 2023. Businesses have benefited from higher disposable income and increased vehicle registration, which has supported demand for industry services. However, the COVID-19 (coronavirus) pandemic led to a considerable drop in industry performance in 2020 as less travel translated to lower need for industry-relevant services. Recovery following these disruptions has been bogged down by rising consumer prices, which has decreased inflation-adjusted industry revenue. Car wash and auto detailing revenue has been decreasing at a CAGR of 2.1% over the past five years, and is... Learn More
Business Environment Risk for 2024: 4.02
The performance of the movie theatre industry largely depends on the success or failure of major film releases. Although per capita disposable income directly influences households' ability to spend on discretionary services, such as movies, the marketing efforts and popularity of blockbuster films strongly determine revenue, as movie-going is a relatively low-cost entertainment option. Cineplex, the industry's dominant player, also drives industry performance, as it typically accounts for more than 60.0% of the domestic market. The COVID-19 pandemic created significant disruptions for the industry as theatres temporarily closed and audiences stayed home, which resulted in industry revenue dropping 71.7% in... Learn More
Business Environment Risk for 2024: 4.09
The Eyeglasses and Contact Lens Stores industry in Canada sells eyeglasses, contact lenses, sunglasses, safety eyewear and optical accessories. Over the five years to 2023, the industry has benefited from favourable population demographics. The burgeoning elderly population has boosted the number of optometrist visits to address age-related eyesight issues. Meanwhile, changing fashion trends have hastened many consumers' replacement cycles and have caused a shift toward high margin, designer eyewear. Further, the industry has been relatively insulated from external competitors, such as online retailers that lack brick-and-mortar establishments and deliver directly to the customers via mail. Dispensing prescription glasses is highly... Learn More
Business Environment Risk for 2024: 4.12
The Convenience Stores industry in Canada has withstood increasing competition by offering convenience, value and a variety of fresh and healthful products. The small size and accessibility of convenience stores enable operators to adapt to changing environments and consumer preferences, making them more resilient than supermarkets and other food retailers. Industry operators have increasingly shifted product mixes to include food service products that are more profitable than items such as cigarettes, focusing more on satisfying demand for quick and easy meal options. However, continued competition from supermarkets and gas stations with convenience stores has somewhat pressured industry growth. Consequently, industry... Learn More
Business Environment Risk for 2024: 4.13
Auto parts wholesalers in Canada has contracted over the five years to 2023, stemming from COVID-19, which substantially impacted demand from downstream markets in 2020 and 2021. These wholesalers struggled with cementing its place within the automotive supply chain with auto parts manufacturers expansively solidifying their ties with automakers directly. In 2020, a steep reduction in the production and sales of new vehicles, as well as less driving by consumers, reduced demand for auto parts. Overall, auto parts wholesalers are expected to drop at a CAGR of 1.2% to $18.9 billion through the end of 2023, despite higher downstream demand... Learn More
Business Environment Risk for 2024: 4.15
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
Based on the expert analysis and our database of 480+ CA industries, 麻豆区 presents a list of the Most Profitable Industries in Canada in 2024
VIEW ARTICLEBased on the expert analysis and our database of 480+ CA industries, 麻豆区 presents a list of the Fastest Growing Industries in Canada by Revenue Growth (%) in 2024
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