Wired up: Growth in downstream construction markets is expected to improve product demand domestically
Strong import penetration has created a ceiling for the Wiring Device Manufacturing industry in Canada, while domestic demand has fluctuated as a result of the COVID-19 pandemic. Foreign competition from less-expensive products has hurt the viability of domestically-manufactured products, while a strong Canadian dollar has hurt exports abroad. The pandemic has created a further seesaw in downstream markets, as residential construction demand was counteracted by a decline in commercial construction. Despite growth in 2020 and 2021, industry revenue has been declining at a CAGR of 6.6% over the past five years, and is expected to total $888.9 million in 2023. This includes a 1.7% rise in the current year.
The Wiring Device Manufacturing industry in Canada manufactures current-carrying wiring devices and noncurrent-carrying wiring devices for wiring electrical circuits. Examples of products include outlet and switch electrical wiring boxes, electrical insulators, transmission pole and line hardware, electrical metallic tubes, switches, conductor connectors, electric sockets, plugs and electric cords.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.
Table of Contents
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- ABB Inc.
- Hubbell Incorporated
Methodology
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