Billboard & Sign Manufacturing in Canada - Market Research Report (2013-2028)
New York, United States
Last Updated: August 2023
NAICS 33995CARevenue
$1.6bn
Past 5-Year Growth
Profit
$XXX.Xm
Employees
7,864
Businesses
1,819
Wages
$XXX.Xm
Billboard & Sign Manufacturing in Canada industry analysis
The Billboard and Sign Manufacturing industry in Canada has faltered, even as the domestic economic climate proved resilient. Billboards have maintained their appeal as one of the few remaining ways to reach a broad consumer base in an increasingly fragmented media landscape. Consequently, advertisers have continued spending on billboard space. However, billboards and signs have been hurt by a fundamental shift in advertising spending, as downstream customers have shifted toward online advertising because of its improved ability to targeting specific audiences. The COVID-19 pandemic presented a further challenge, as economic output contracted and industry revenue feel 18.8% in 2020 alone. While the industry bounced back in 2021, overall revenue has been declining at a CAGR of 3.9% over the past five years, and is expected to reach $1.6 billion in 2023. In 2023, industry revenue is forecast to fall an additional 2.7%.Digital billboards have proven to be the primary growth opportunity for billboard and sign manufacturers. These displays, made from light-emitting diodes and other electronic components, enable advertisers to seamlessly transition between messages and accommodate a greater number of clients simultaneously. Manufacturers can therefore charge a premium for these products. Despite an extremely competitive landscape, higher margin digital billboards have enabled some manufacturers to find growth opportunities and expand profit margins as a result. Indeed, overall industry profitability has widened moderately in recent years.The industry will remain hampered by the shift to online advertisement moving forward, even as economic conditions improve. While ad spending will continue to flow toward online avenues, billboards will nonetheless remain a sure-fire way to reach a general audience. As a result, manufacturers will likely benefit from a rise in corporate spending, which will fuel stronger advertising spending. Larger advertising budgets will drive demand for billboards and signs and provide manufacturers with greater pricing power, enabling them to gradually expand profit margins. Digital products are expected to remain the fastest growing segment and are projected to become its greatest source of revenue moving forward. And yet, these trends will merely temper the decline in demand for traditional billboards because of fundamental changes in advertising spending. As a result, industry revenue is forecast to decline at a CAGR of 1.8% over the next five years, reaching an estimated $1.5 billion in 2028.
Trends and Insights
- Changes in advertising spending have hurt domestic manufacturers. Advertising has moved further toward online mediums, hurting spending on billboard and sign adverts and subsequently, downstream manufacturers.
- Digital billboards have become popular, despite their high cost. Advertisers prefer these billboards because of their ability to disseminate multiple messages.
- Ontario has the largest number of industry manufacturers. The province is home to two of the country's largest cities, Toronto and Ottawa, which are major economic hubs.
- Manufacturers focus on providing quality products to combat price competition. Customer loyalty to existing manufacturers makes it difficult for new companies to attract clients.
Industry Overview
Market size and recent performance (2013-2028)
Industry revenue has declined at a CAGR of 4.0 % over the past five years, to reach an estimated $1.6bn in 2023.
Trends and Insights
The move to online advertising has hurt billboards
- Billboards and signs have been hurt by a fundamental shift in advertising spending, as downstream customers have shifted toward online advertising because of its improved ability to targeting specific audiences.
- Additional trends and insights available with purchase
Source: IBISWorld
Industry outlook (2024-2029)
Market size is projected to decline over the next five years.
Trends and Insights
The shift in advertising spending will likely undermine industry, despite growth opportunities
- Billboards and signs will continue to be hurt by a shift in advertising spending, as downstream customers have shift toward online advertising because of its improved ability to targeting specific audiences.
Biggest companies in the Billboard & Sign Manufacturing in Canada
| Company | Market Share (%)
2023 | Revenue ($m)
2023 | Profit ($m)
2023 | Profit Margin (%)
2023 |
|---|---|---|---|---|
Jim Pattison Group | 86.3 | 6.7 | 7.8 | |
Steel Art Signs Corp. | 28.9 | N/A | N/A | |
Provincial Sign Systems | 22.4 | N/A | N/A |
To view the market share and analysis for all 4 top companies in this industry, view purchase options.
Products & Services Segmentation
Source: IBISWorld
Industry revenue is measured across several distinct product and services lines, including Billboards , Other and Digital billboards and signs. Billboards is the largest segment of the Billboard & Sign Manufacturing in Canada.
Trends and Insights
Billboards represent nearly half of all revenue
- Billboards are manufactured in a variety of standard sizes, including 4.0-by-15.0-metre bulletins and posters with varying dimensions. Although these designs are the most common across the industry, manufacturers typically offer their own range of additional sizes and many offer billboards with custom dimensions.
- More insights available in the full report
Widen you competitive advantage with related industries
Competitors
- Paper Product Manufacturing in Canada
Complementors
- Printing in Canada
- Billboard & Outdoor Advertising in Canada
- Promotional Products in Canada
International industries
- Billboard & Sign Manufacturing in the US
Table of Contents
About this industry
Industry definition
The Billboard and Sign Manufacturing industry in Canada manufactures billboards, scoreboards, retail store signage and transit station advertising displays. Industry products may include nonelectric signs, digital billboards, video screens and neon signs. The industry does not include outdoor kiosks, phone booth advertising, bus or taxi advertising and other street furniture advertising. It also excludes any advertising or displays made from printing paper or paperboard.
What's included in this industry?
Manufacturing electric backlit signs Manufacturing electrical signs and advertising displaysManufacturing letters and numbers for signs (except wood and paper)Manufacturing neon signs Manufacturing electric scoreboardsManufacturing nonelectric, primarily wood, signs and signboardsCompanies
Jim Pattison GroupSteel Art Signs Corp.Provincial Sign SystemsPurchase this report to view all 4 major companies in this industry.
Related Terms
BULLETINPOSTERSPECTACULARDIGITAL BILLBOARDLIGHT-EMITTING DIODE (LED)Industry Code
NAICS 339950 - Billboard & Sign Manufacturing in Canada
Performance
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Analyst insights
Changes in advertising spending have hurt domestic manufacturers. Advertising has moved further toward online mediums, hurting spending on billboard and sign adverts and subs...
In this chapter (4)
- Current Performance
- Outlook
- Volatility
- Life Cycle
Key metrics
- Annual Revenue, Recent Growth, Forecast, Revenue Volatility
- Number of Employees, Recent Growth, Forecast, Employees per Business, Revenue per Employee
- Number of Businesses, Recent Growth, Forecast, Employees per Business, Revenue per Business
- Total Profit, Profit Margin, Profit per Business
Charts
- Revenue, including historical (2013-2022) and forecast (2023-2028)
- Employees, including historical (2013-2022) and forecast (2023-2028)
- Businesses, including historical (2013-2022) and forecast (2023-2028)
- Profit, including historical (2013-2023)
- Industry Volatility vs. Revenue Growth
- Industry Life Cycle
Detailed analysis
- Trends in supply, demand and current events that are driving current industry performance
- Expected trends, economic factors and ongoing events that drive the industry's outlook
- Key success factors for businesses to overcome volatility
- How contribution to GDP, industry saturation, innovation, consolidation, and technology and systems influence the industry's life cycle phase.
Products and Markets
Learn about an industry's products and services, markets and trends in international trade.
Analyst insight
Digital billboards have become popular, despite their high cost. Advertisers prefer these billboards because of their ability to disseminate multiple messages.
In this chapter
- Products & Services
- Major Markets
- International Trade
Key metrics
- Largest market segment and value in 2023
- Product innovation level
- Total imports, level and trend
- Total exports, level and trend
- Trade Balance
Charts
- Products & services segmentation in 2023
- Major market segmentation in 2023
- International trade, including imports by country and exports by country
Detailed analysis
- Trends impacting the recent performance of the industry's various segments
- Innovations in the industry's product or service offering, specialization or delivery method
- Key factors that successful businesses consider in their offerings
- Buying segments and key trends influencing demand for industry products and services
- Recent trends in import and export volumes, country of origin or destination, and expected future trends
Geographic Breakdown
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Analyst insights
Ontario has the largest number of industry manufacturers. The province is home to two of the country's largest cities, Toronto and Ottawa, which are major economic hubs.
In this chapter (1)
- Business Locations
Charts
- Share of revenue, establishment, wages and employment in each province
- Share of population compared to establishments in each region in 2023
Tables
- Number and share of establishments in each province in 2023
- Number and share of revenue each province accounts for in 2023
- Number and share of wages each province accounts for in 2023
- Number and share of employees in each province in 2023
Detailed analysis
- Geographic spread of the industry across North America, and trends associated with changes in the business landscape
- Key success factors for businesses to use location to their advantage
Competitive Forces
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
Analyst insights
Manufacturers focus on providing quality products to combat price competition. Customer loyalty to existing manufacturers makes it difficult for new companies to attract clie...
In this chapter (4)
- Concentration
- Barriers to Entry
- Substitutes
- Buyer & Supplier Analysis
Key metrics
- Industry concentration level
- Industry competition level and trend
- Barriers to entry level and trend
- Substitutes level and trend
- Buyer power level and trend
- Supplier power level and trend
Charts
- Market share concentration among the top 4 suppliers from 2018-2023
- Supply chain including upstream supplying industries and downstream buying industries, flow chart
Detailed analysis
- Factors impacting the industry’s level of concentration, such as business distribution, new entrants, or merger and acquisition activity.
- Key success factors for businesses to manage the competitive environment of the industry.
- Challenges that potential industry entrants face such as legal, start-up costs, differentiation, labor/capital intensity and capital expenses.
- Key success factors for potential entrants to overcome barriers to entry.
- Competitive threats from potential substitutes for the industry’s own products and services.
- Key success factors for how successful businesses can compete with substitutes.
- Advantages that buyers have to keep favorable purchasing conditions.
- Advantages that suppliers have to maintain favorable selling conditions.
- Key success factors for how businesses can navigate buyer and supplier power.
Companies
Learn about the performance of the top companies in the industry.
Analyst insights
Most companies in the industry are small. The high cost of transporting products drives the proliferation of local companies in an effort to minimize costs.
In this chapter
- Market Share Concentration
- Companies
- Company Spotlights
Charts
- Industry market share by company in 2019 through 2023
- Major companies in the industry, including market share, revenue, profit and profit margin in 2023
- Overview of Jim Pattison Group's performance by revenue, market share and profit margin from 2017 through 2023
- Overview of Steel Art Signs Corp.'s performance by revenue, market share and profit margin from 2017 through 2023
- Overview of Provincial Sign Systems's performance by revenue, market share and profit margin from 2017 through 2023
- Overview of revenue, market share and profit margin trend for one additional company
Detailed analysis
- Description and key data for Jim Pattison Group, and factors influencing its performance in the industry
- Description and key data for Steel Art Signs Corp., and factors influencing its performance in the industry
- Description and key data for Provincial Sign Systems, and factors influencing its performance in the industry
- Description, key data and performance trends for one additional company
External Environment
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Analyst insights
Environmental laws have become more important. While most of the regulations related to billboard and sign manufacturing have remained unchanged, more attention has been give...
In this chapter
- External Drivers
- Regulation & Policy
- Assistance
Key metrics
- Regulation & policy level and trend
- Assistance level and trend
Charts
- Regulation & Policy historical data and forecast (2013-2028)
- Assistance historical data and forecast (2013-2028)
Detailed analysis
- Demographic and macroeconomic factors influencing the industry, including Regulation & Policy and Assistance
- Major types of regulations, regulatory bodies, industry standards or specific regulations impacting requirements for industry operators
- Key governmental and non-governmental groups or policies that may provide some relief for industry operators.
Financial Benchmarks
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Analyst insights
Profit margins have widened. After declining at the height of the COVID-19 pandemic, profit margins have recovered in line with downstream demand.
In this chapter
- Cost Structure
- Financial Ratios
- Key Ratios
Key metrics
- Profit margin, and how it compares to the sector-wide margin
- Average wages, and how it compares to the sector-wide average wage
- Largest cost component as a percentage of revenue
- Industry average ratios for days' receivables, industry coverage and debt-to-net-worth ratio
Charts
- Average industry operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2023
- Average sector operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2023
- Investment vs. share of economy
Data tables
- Liquidity Ratios (2016-2021)
- Coverage Ratios (2016-2021)
- Leverage Ratios (2016-2021)
- Operating Ratios (2016-2021)
- Assets (2016-2021)
- Liabilities (2016-2021)
- Cash Flow & Debt Service Ratios (2013-2028)
- Revenue per Employee (2013-2028)
- Revenue per Enterprise (2013-2028)
- Employees per Establishment (2013-2028)
- Employees per Enterprise (2013-2028)
- Average Wage (2013-2028)
- Wages/Revenue (2013-2028)
- Establishments per Enterprise (2013-2028)
- IVA/Revenue (2013-2028)
- Imports/Demand (2013-2028)
- Exports/Revenue (2013-2028)
Detailed analysis
- Trends in the cost component for industry operators and their impact on industry costs and profitability
Key Statistics
Industry Data
Data Tables
Including values and annual change:
- Revenue (2013-2028)
- IVA (2013-2028)
- Establishments (2013-2028)
- Enterprises (2013-2028)
- Employment (2013-2028)
- Exports (2013-2028)
- Imports (2013-2028)
- Wages (2013-2028)
Methodology
How are IBISWorld reports created?
IBISWorld has been a leading provider of trusted industry research for over 50 years to the most successful companies worldwide. With offices in Australia, the United States, the United Kingdom, Germany and China, we are proud to have local teams of analysts that conduct research, data analysis and forecasting to produce data-driven industry reports.
Our analysts start with official, verified and publicly available sources of data to build the most accurate picture of each industry. Analysts then leverage their expertise and knowledge of the local markets to synthesize trends into digestible content for IBISWorld readers. Finally, each report is reviewed by one of IBISWorld’s editors, who provide quality assurance to ensure accuracy and readability.
IBISWorld relies on human-verified data and human-written analysis to compile each standard industry report. We do not use generative AI tools to write insights, although members can choose to leverage AI-based tools within the platform to generate additional analysis formats.
What data sources do IBISWorld analysts use?
Each industry report incorporates data and research from government databases, industry-specific sources, industry contacts, and our own proprietary database of statistics and analysis to provide balanced, independent and accurate insights.
Key data sources in Canada include:
- Statistics Canada
- Industry Canada
- Canadian Business Patterns
Analysts also use industry specific sources to complement catch-all sources, although their perspective may focus on a particular organization or representative body, rather than a clear overview of all industry operations. However, when balanced against other perspectives, industry-specific sources provide insights into industry trends.
These sources include:
- Industry and trade associations
- Industry federations or regulators
- Major industry players annual or quarterly filings
Finally, IBISWorld’s global data scientists maintain a proprietary database of macroeconomic and demand drivers, which our analysts use to help inform industry data and trends. They also maintain a database of statistics and analysis on thousands of industries, which has been built over our more than 50-year history and offers comprehensive insights into long-term trends.
How does IBISWorld forecast its data?
IBISWorld’s analysts and data scientists use the sources above to create forecasts for our proprietary datasets and industry statistics. Depending on the dataset, they may use regression analysis, multivariate analysis, time-series analysis or exponential smoothing techniques to project future data for the industry or driver. Additionally, analysts will leverage their local knowledge of industry operating and regulatory conditions to impart their best judgment on the forecast model.
IBISWorld prides itself on being a trusted, independent source of data, with over 50 years of experience building and maintaining rich datasets and forecasting tools. We are proud to be the keystone source of industry information for thousands of companies across the world.
Learn more about our methodology and data sourcing on the Help Center.
Frequently Asked Questions
Unlock comprehensive answers and precise data upon purchase. View purchase options.
What is the market size of the Billboard & Sign Manufacturing industry in Canada in 2024?
The market size of the Billboard & Sign Manufacturing industry in Canada is $1.6bn in 2024.
How many businesses are there in the Billboard & Sign Manufacturing in Canada industry in 2023?
There are 1,819 businesses in the Billboard & Sign Manufacturing industry in Canada, which has declined at a CAGR of 0.2 % between 2018 and 2023.
Has the Billboard & Sign Manufacturing industry in Canada grown or declined over the past 5 years?
The market size of the Billboard & Sign Manufacturing industry in Canada has been declining at a CAGR of 4.0 % between 2018 and 2023.
What is the forecast growth of the Billboard & Sign Manufacturing industry in Canada over the next 5 years?
Over the next five years, the Billboard & Sign Manufacturing industry in Canada is expected to decline.
What are the biggest companies in the Billboard & Sign Manufacturing market in Canada?
The biggest companies operating in the Billboard & Sign Manufacturing market in Canada are Jim Pattison Group, Steel Art Signs Corp. and Provincial Sign Systems
What does the Billboard & Sign Manufacturing in Canada include?
Manufacturing electric backlit signs and Manufacturing electrical signs and advertising displays are part of the Billboard & Sign Manufacturing industry.
Which companies have the highest market share in the Billboard & Sign Manufacturing in Canada?
The company holding the most market share in Canada is Jim Pattison Group.
How competitive is the Billboard & Sign Manufacturing industry in Canada?
The level of competition is moderate and increasing in the Billboard & Sign Manufacturing industry in Canada.
