Top 10 Canadian Construction companies
The Canadian economy’s recovery from the recession has had wide-ranging impacts on domestic industries over the past five years. The ten fastest-growing industries over the past five years, measured by average growth in sales per year and compiled from IBISWorld’s 424 Canadian industry reports, feature industries from a variety of sectors, including heavy manufacturing, wholesaling and professional business services.
While each industry exhibited strong revenue growth, some have experienced cyclical growth while others have grown due to more secular trends. For example, the Nonferrous Metal Foundry Products Manufacturing industry has merely recovered from poor performance during the economic downturn and is unlikely to reach prerecessionary revenue levels. In contrast, up-and-coming industries, such as recycling facilities, have flourished due to longer-term shifts in consumer preferences. Similarly, industries such as fertilizer manufacturing have experienced wildly fluctuating demand, while others, such as the Beauty, Cosmetics and Fragrance Stores industry, have grown steadily over the five-year period.
Five-year annual growth rate: 12.7%
Unlike the broader metal manufacturing sector, the Nonferrous Metal Foundry Products industry has outperformed the economy as a whole during the past five years, although its high growth rate is mostly due to a quick postrecessionary recovery. Despite recent growth, the industry continues to face intense import competition, which has forced many companies out of the industry in recent years. Remaining domestic manufacturers have increasingly offered value-added services such as design support, custom-made castings and metallurgical testing to compete more effectively against low-cost imports. Nonetheless, foreign competition is expected to slow the industry’s growth considerably during the next five years. However, successful Canadian metal foundries will continue to work with domestic customers to design high-precision, customized castings.
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