Electrical Equipment Manufacturing in Canada - Market Research Report (2014-2029)
New York, United States
Last Updated: July 2024
NAICS 33531CARevenue
$6.1bn
Past 5-Year Growth
Profit
$XXX.Xm
Employees
15,473
Businesses
456
Wages
$X.Xbn
Electrical Equipment Manufacturing in Canada industry analysis
Canadian electrical equipment manufacturers have endured significant volatility in recent years. Drastic fluctuations in residential and nonresidential construction value contributed to revenue losses since 2019. During this time, heightened economic uncertainty, weaker corporate profit, elevated inflation and high interest rates pushed long-term borrowing costs higher, discouraging construction activity and harming demand for manufacturers. Producers could make up some of these losses as the Canadian economy recovered during 2021 and 2022, enabling demand from the industrial sector to swell. However, these gains were insufficient to make up for the revenue losses. These trends have caused revenue to weaken at an estimated CAGR of 0.4% to $6.1 billion through 2024, despite a 0.5% gain during that year alone.
Trends and Insights
- Canadian electrical equipment manufacturers’ performance is closely tied to the strength of the industrial sector. These manufacturers bounced back from the pandemic amid recovering economies, technological innovations, automation adoption and strengthening emerging markets.
- Transformer manufacturing stays robust during economic downturns. Transformers are crucial in electric power consumption, as households consistently need electricity regardless of economic conditions.
- Canadian electrical equipment manufacturers often set up in densely populated provinces. Ontario and Quebec are the leading choices, benefiting from large markets and skilled workforces. These provinces provide strategic advantages for industry growth and distribution.
- Competition is intense among multinational electrical equipment manufacturers. Companies like General Electric and Schneider Electric Canada acquire other businesses to expand their global reach and diversify product lines. The industry continues to see increased consolidation.
Industry Overview
Market size and recent performance (2014-2029)
Industry revenue has declined at a CAGR of 0.4 % over the past five years, to reach an estimated $6.1bn in 2024.
Trends and Insights
Inelastic demand for electricity supports demand for manufacturers
- Households rely heavily on electricity for various essential activities, such as lighting their homes, washing their clothes and dishes, powering entertainment systems and charging devices. These activities require a stable supply of electricity, which in turn creates demand for electrical equipment.
- Additional trends and insights available with purchase
Source: IBISWorld
Industry outlook (2024-2029)
Market size is projected to grow over the next five years.
Trends and Insights
A recovering construction sector causes revenue to swell
- The Canadian residential construction sector is set to expand in the coming years, driven by population growth, urbanization and boosted demand for housing. These trends boost demand for electrical equipment as new construction projects require large volumes of electrical components.
Biggest companies in the Electrical Equipment Manufacturing in Canada
| Company | Market Share (%)
2024 | Revenue ($m)
2024 | Profit ($m)
2024 | Profit Margin (%)
2024 |
|---|---|---|---|---|
GE | 412.4 | 34.3 | 8.3 | |
Schneider Electric Canada Inc. | 284.0 | 48.3 | 17.0 | |
Hammond Manufacturing Company Limited | 88.5 | 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 Motors and generators , Switchgears, switchboards, relays and industrial controls and Power, distribution and specialty transformers . Motors and generators is the largest segment of the Electrical Equipment Manufacturing in Canada.
Trends and Insights
Switchgears, switchboards and industrial controls are used in multiple downstream markets
- Buyers use switchgear and switchboards to safely establish electrical flows through multiple sources. These products are frequently used in the industrial, service and healthcare sectors. Contractors also install circuit breakers in new construction projects, representing a significant portion of revenue.
- More insights available in the full report
Widen you competitive advantage with related industries
Competitors
- Battery Manufacturing in Canada
Complementors
- Semiconductor Machinery Manufacturing in Canada
- Engine & Turbine Manufacturing in Canada
- Semiconductor & Other Electronic Component Manufacturing in Canada
- Lighting & Bulb Manufacturing in Canada
International industries
- Smart Meter Manufacturing in the US
- Electrical Equipment Manufacturing in the US
- Power Automation Products and Other Electrical Equipment Manufacturing in Australia
- Electric Motor, Generator & Transformer Manufacturing in the UK
- Electricity Distribution & Control Apparatus Manufacturing in the UK
Table of Contents
About this industry
Industry definition
Canada's Electrical Equipment Manufacturing industry manufactures power, distribution and specialty transformers; electric motors, generators and motor-generator sets; switchgear and switchboard apparatus; relays; and industrial controls. Electrical equipment manufacturers distribute their products to other manufacturing industries, wholesalers and the construction industry.
What's included in this industry?
Switchgear, switchboard, relay and industrial control manufacturingMotor and generator manufacturingPower, distribution and specialty transformer manufacturingCompanies
GESchneider Electric Canada Inc.Hammond Manufacturing Company LimitedPurchase this report to view all 4 major companies in this industry.
Related Terms
TRANSFORMERGENERATORDISINTERMEDIATIONOFFSHORINGIndustry Code
NAICS 33531 - Electrical Equipment 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
Canadian electrical equipment manufacturers’ performance is closely tied to the strength of the industrial sector. These manufacturers bounced back from the pandemic amid rec...
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 (2014-2023) and forecast (2024-2029)
- Employees, including historical (2014-2023) and forecast (2024-2029)
- Businesses, including historical (2014-2023) and forecast (2024-2029)
- Profit, including historical (2014-2024)
- 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
Transformer manufacturing stays robust during economic downturns. Transformers are crucial in electric power consumption, as households consistently need electricity regardle...
In this chapter
- Products & Services
- Major Markets
- International Trade
Key metrics
- Largest market segment and value in 2024
- Product innovation level
- Total imports, level and trend
- Total exports, level and trend
- Trade Balance
Charts
- Products & services segmentation in 2024
- Major market segmentation in 2024
- 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
Canadian electrical equipment manufacturers often set up in densely populated provinces. Ontario and Quebec are the leading choices, benefiting from large markets and skilled...
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 2024
Tables
- Number and share of establishments in each province in 2024
- Number and share of revenue each province accounts for in 2024
- Number and share of wages each province accounts for in 2024
- Number and share of employees in each province in 2024
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
Competition is intense among multinational electrical equipment manufacturers. Companies like General Electric and Schneider Electric Canada acquire other businesses to expan...
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 2019-2024
- 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
The four largest companies generate less than 20% of the industry's revenue, reflecting low consolidation. Despite their substantial influence, significant competition remain...
In this chapter
- Market Share Concentration
- Companies
- Company Spotlights
Charts
- Industry market share by company in 2020 through 2024
- Major companies in the industry, including market share, revenue, profit and profit margin in 2024
- Overview of GE's performance by revenue, market share and profit margin from 2018 through 2024
- Overview of Schneider Electric Canada Inc.'s performance by revenue, market share and profit margin from 2018 through 2024
- Overview of Hammond Manufacturing Company Limited's performance by revenue, market share and profit margin from 2018 through 2024
- Overview of revenue, market share and profit margin trend for one additional company
Detailed analysis
- Description and key data for GE, and factors influencing its performance in the industry
- Description and key data for Schneider Electric Canada Inc., and factors influencing its performance in the industry
- Description and key data for Hammond Manufacturing Company Limited, 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
Canadian electrical equipment manufacturers aren't regulated by industry-specific legislation. They must, however, comply with general environmental and labour regulations th...
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 (2014-2029)
- Assistance historical data and forecast (2014-2029)
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
Larger electrical equipment companies achieve higher profitability by taking advantage of economies of scale. They keep per-unit production costs low, making them more compet...
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 2024
- Average sector operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2024
- Investment vs. share of economy
Data tables
- Liquidity Ratios (2017-2022)
- Coverage Ratios (2017-2022)
- Leverage Ratios (2017-2022)
- Operating Ratios (2017-2022)
- Assets (2017-2022)
- Liabilities (2017-2022)
- Cash Flow & Debt Service Ratios (2014-2029)
- Revenue per Employee (2014-2029)
- Revenue per Enterprise (2014-2029)
- Employees per Establishment (2014-2029)
- Employees per Enterprise (2014-2029)
- Average Wage (2014-2029)
- Wages/Revenue (2014-2029)
- Establishments per Enterprise (2014-2029)
- IVA/Revenue (2014-2029)
- Imports/Demand (2014-2029)
- Exports/Revenue (2014-2029)
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 (2014-2029)
- IVA (2014-2029)
- Establishments (2014-2029)
- Enterprises (2014-2029)
- Employment (2014-2029)
- Exports (2014-2029)
- Imports (2014-2029)
- Wages (2014-2029)
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 Electrical Equipment Manufacturing industry in Canada in 2024?
The market size of the Electrical Equipment Manufacturing industry in Canada is $6.1bn in 2024.
How many businesses are there in the Electrical Equipment Manufacturing in Canada industry in 2024?
There are 456 businesses in the Electrical Equipment Manufacturing industry in Canada, which has declined at a CAGR of 2.1 % between 2019 and 2024.
Has the Electrical Equipment Manufacturing industry in Canada grown or declined over the past 5 years?
The market size of the Electrical Equipment Manufacturing industry in Canada has been declining at a CAGR of 0.4 % between 2019 and 2024.
What is the forecast growth of the Electrical Equipment Manufacturing industry in Canada over the next 5 years?
Over the next five years, the Electrical Equipment Manufacturing industry in Canada is expected to grow.
What are the biggest companies in the Electrical Equipment Manufacturing market in Canada?
The biggest companies operating in the Electrical Equipment Manufacturing market in Canada are GE, Schneider Electric Canada Inc. and Hammond Manufacturing Company Limited
What does the Electrical Equipment Manufacturing in Canada include?
Switchgear, switchboard, relay and industrial control manufacturing and Motor and generator manufacturing are part of the Electrical Equipment Manufacturing industry.
Which companies have the highest market share in the Electrical Equipment Manufacturing in Canada?
The company holding the most market share in Canada is GE.
How competitive is the Electrical Equipment Manufacturing industry in Canada?
The level of competition is high and increasing in the Electrical Equipment Manufacturing industry in Canada.
