Wiring Device Manufacturing in Canada - Market Research Report (2013-2028)
New York, United States
Last Updated: August 2023
NAICS 33593CARevenue
$888.9m
Past 5-Year Growth
Profit
$XX.Xm
Employees
3,422
Businesses
85
Wages
$XXX.Xm
Wiring Device Manufacturing in Canada industry analysis
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.Most products currently produced by manufacturers are low value-added parts that act as components of a greater electrical system. As a result, products tend to be highly commoditized, driving price competition within the industry. This has enabled competition from less-expensive imports from countries with lower wages, like China and Mexico. Domestic manufacturers have emphasized research and development to create more specialized products that do not have direct substitutes as a result. This has allowed manufactures to create a niche, and exports has been growing at a CAGR of 1.4% over the past five years, reaching an estimated $203.3 million in 2023. This increasingly important market now accounts for nearly a quarter of all revenue, boosting industry profit margins in recent years.Growth in downstream construction markets will improve product demand domestically. Industrial capacity utilization, an indicator of manufacturing demand for wiring devices, will remain steady. However, these positive trends will be unable to reverse the continued influx of less-expensive foreign products into the domestic market. As import penetration continues unabated, industry revenue is projected to decline at a CAGR of 0.8% to $855.8 million over the five years to 2028.
Trends and Insights
- Import penetration has hurt the performance of domestic manufactures. Wiring devices manufactured abroad are able to leverage lower labor costs to drive down prices.
- Switches for electrical circuitry are the most common industry product. This reflects their use in homes, industrial environments and in vehicles.
- Ontario account for more than half all wiring device manufacturers. The region is also home to a variety of downstream manufacturing industries that purchase wiring devices.
- Manufacturers compete domestically for large contracts in the construction and automotive industries. Manufacturers leverage innovation to establish a competitive advantage over rivals.
Industry Overview
Market size and recent performance (2013-2028)
Industry revenue has declined at a CAGR of 6.6 % over the past five years, to reach an estimated $888.9m in 2023.
Trends and Insights
Import penetration has undercut the position of domestic manufacturers
- Competition from foreign manufacturers has remained intense, making less expensive products from foreign countries more attractive to industry trading partners such as the United States.
- Additional trends and insights available with purchase
Source: IBISWorld
Industry outlook (2024-2029)
Market size is projected to decline over the next five years.
Trends and Insights
Domestic demand will likely prove to be a boon for manufacturers
- Residential construction activity will likely be a source of growth for domestic manufactures.
Biggest companies in the Wiring Device Manufacturing in Canada
| Company | Market Share (%)
2023 | Revenue ($m)
2023 | Profit ($m)
2023 | Profit Margin (%)
2023 |
|---|---|---|---|---|
ABB Inc. | 93.4 | 13.9 | 14.9 | |
Hubbell Incorporated | 86.6 | 15.4 | 17.8 | |
Eaton Industries (Canada) Company | 41.8 | 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 Wire connectors for electrical circuitry, Pole line and transmission hardware and Electrical conduit and conduit fittings. Wire connectors for electrical circuitry is the largest segment of the Wiring Device Manufacturing in Canada.
Trends and Insights
Switches for electrical circuitry are part of the industry's products
- This segment includes switches, a device designed to interrupt the current flow in a circuit.
- More insights available in the full report
Widen you competitive advantage with related industries
Competitors
- Hand Tool & Cutlery Manufacturing in Canada
Complementors
- Ceramics Manufacturing in Canada
- Glass Product Manufacturing in Canada
- Semiconductor & Other Electronic Component Manufacturing in Canada
- Wire & Cable Manufacturing in Canada
International industries
- Wiring Device Manufacturing in the US
- Wire Connector Manufacturing in the US
- Fiber-Optic Cable Manufacturing in the US
Table of Contents
About this industry
Industry definition
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.
What's included in this industry?
Manufacturing electrical conduit and conduit fittingsManufacturing wire connectors for electrical circuitryManufacturing switches for electrical circuitryManufacturing pole line and transmission hardwareManufacturing convenience power outletsManufacturing lamp holdersManufacturing other current-carrying wiring devicesManufacturing other noncurrent-carrying wiring devicesCompanies
ABB Inc.Hubbell IncorporatedEaton Industries (Canada) CompanyPurchase this report to view all 4 major companies in this industry.
Related Terms
CONNECTORELECTRIC PLUGOFFSHORINGOUTSOURCESWITCHIndustry Code
NAICS 335930 - Wiring Device 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
Import penetration has hurt the performance of domestic manufactures. Wiring devices manufactured abroad are able to leverage lower labor costs to drive down prices.
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
Switches for electrical circuitry are the most common industry product. This reflects their use in homes, industrial environments and in vehicles.
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 account for more than half all wiring device manufacturers. The region is also home to a variety of downstream manufacturing industries that purchase wiring devices.
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 compete domestically for large contracts in the construction and automotive industries. Manufacturers leverage innovation to establish a competitive advantage o...
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
The number of large, domestic manufacturers has declined. Completion from less expensive foreign products has continued to push Canadian wire manufacturers out of the marketp...
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 ABB Inc.'s performance by revenue, market share and profit margin from 2017 through 2023
- Overview of Hubbell Incorporated's performance by revenue, market share and profit margin from 2017 through 2023
- Overview of Eaton Industries (Canada) Company'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 ABB Inc., and factors influencing its performance in the industry
- Description and key data for Hubbell Incorporated, and factors influencing its performance in the industry
- Description and key data for Eaton Industries (Canada) Company, 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
Ontario’s Electrical Safety Authority (ESA) significantly increased regulations for manufacturers. Individual provinces have put forth standards for wiring makers.
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 been negatively affected by competition from imports. Manufacturers have been pressured to cut prices as a result, slimming margins.
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 Wiring Device Manufacturing industry in Canada in 2024?
The market size of the Wiring Device Manufacturing industry in Canada is $888.9m in 2024.
How many businesses are there in the Wiring Device Manufacturing in Canada industry in 2023?
There are 85 businesses in the Wiring Device Manufacturing industry in Canada, which has grown at a CAGR of 0.5 % between 2018 and 2023.
Has the Wiring Device Manufacturing industry in Canada grown or declined over the past 5 years?
The market size of the Wiring Device Manufacturing industry in Canada has been declining at a CAGR of 6.6 % between 2018 and 2023.
What is the forecast growth of the Wiring Device Manufacturing industry in Canada over the next 5 years?
Over the next five years, the Wiring Device Manufacturing industry in Canada is expected to decline.
What are the biggest companies in the Wiring Device Manufacturing market in Canada?
The biggest companies operating in the Wiring Device Manufacturing market in Canada are ABB Inc., Hubbell Incorporated and Eaton Industries (Canada) Company
What does the Wiring Device Manufacturing in Canada include?
Manufacturing electrical conduit and conduit fittings and Manufacturing wire connectors for electrical circuitry are part of the Wiring Device Manufacturing industry.
Which companies have the highest market share in the Wiring Device Manufacturing in Canada?
The company holding the most market share in Canada is ABB Inc..
How competitive is the Wiring Device Manufacturing industry in Canada?
The level of competition is moderate and increasing in the Wiring Device Manufacturing industry in Canada.
