Blown fuse: High competition and low government spending in Virginia have hurt the industry

The Electrical Equipment Manufacturing industry in Virginia primarily manufactures relays and industrial controls, as well as power, distribution and specialty transformers for electric transmission. To a lesser extent, the industry also manufactures motors and generators and switchgear apparatus. Over the five years to 2018, industry revenue has declined, falling at an annualized rate of 5.3% to $1.5 billion. Revenue declined for the majority of the current period; in 2018, revenue is projected to stagnate, growing 0.0%. Macroeconomic factors, such as declining manufacturing output in Virginia, have constrained industry growth.Electrical equipment is used in many construction structures as an essential input...purchase to read more.

Industry Statistics & Market Size
Revenue
$2bn
Annual Growth 13-18
-5.3%
Forecast Growth 18-23
Profit
Employment
4,718
Businesses
49

Industry Threats & Opportunities

  • The industry has been plagued by intense competition, which has led to overall industry consolidation
  • Additional Insights for the Electrical Equipment Manufacturing in Virginia Industry

    IBISWorld identifies 250 Key Success Factors for a business.The most important for the Electrical Equipment Manufacturing in Virginia Industry are

  • Business expertise of operators
  • Adoption of latest available and most efficient technology and techniques
  • Access to high quality inputs
  • IBISWorld analysts also discuss how external factors such as Local and state government expenditure in Virginia and Manufacturing GDP for Virginia in the Electrical Equipment Manufacturing in Virginia industry impact industry performance..

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    What's in this report

    What is the Electrical Equipment Manufacturing in Virginia Industry?

    This 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 sell their products to other manufacturing industries, wholesalers and the Construction sector (IBISWorld report 23).

    Industry Products
  • Power, distribution, and specialty transformer manufacturing
  • Motor and generator manufacturing
  • Switchgear and switchboard apparatus manufacturing
  • Relay and industrial control manufacturing
  • Industry Activities
  • Manufacturing switchgear
  • Manufacturing switchboard apparatus
  • Manufacturing motors and generators
  • Manufacturing relays
  • Manufacturing industrial controls
  • Manufacturing power, distribution and specialty transformers
  • Table of Contents

    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Executive Summary
    Key External Drivers
  • Local and state government expenditure in Virginia
  • Manufacturing GDP for Virginia
  • Housing starts in Virginia
  • Value of private nonresidential construction in Virginia

  • Current Performance
    Industry Outlook
    Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Electrical Equipment Manufacturing in Virginia Industry Lifecycle vs The Economy

  • Supply Chains
    Key Buying Industries
  • Heavy Engineering Construction
  • Construction Machinery Manufacturing
  • Semiconductor Machinery Manufacturing
  • Printing, Paper, Food, Textile & Other Machinery Manufacturing
  • Engine & Turbine Manufacturing
  • Wind Turbine Manufacturing
  • Power Tools & Other General Purpose Machinery Manufacturing
  • Electronic Part & Equipment Wholesaling

  • Key Selling Industries
  • Iron & Steel Manufacturing
  • Metal Wholesaling
  • Metalworking Machinery Manufacturing
  • Screw, Nut & Bolt Manufacturing
  • Wire & Spring Manufacturing

  • Products & Services
  • Relay and industrial control manufacturing
  • Power, distribution, and specialty transformer manufacturing
  • Switchgear and switchboard apparatus manufacturing
  • Motor and generator manufacturing
  • Chart: Electrical Equipment Manufacturing in Virginia Industry Products and Services Segmentation

  • Major Markets
  • Other
  • Construction
  • Manufacturers
  • Utilities
  • Businesses
  • Chart: Major Market Segmentation for the Electrical Equipment Manufacturing in Virginia Industry

  • Business Locations
    Chart: Business Locations by State
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
  • Chart: Cost Structure Benchmarking – Sector vs Electrical Equipment Manufacturing in Virginia

  • Basis of Competition
    Barriers to Entry
    General Electric Company, Moog Inc., ABB Group, Fuji Electric Company Ltd.,
  • Table: General Electric Company - financial performance
  • Table: Moog Inc. - financial performance
  • Table: ABB Group - financial performance
  • Table: Fuji Electric Company Ltd. - financial performance

  • Capital Intensity
  • Chart: Level of Capital Intensity for the Electrical Equipment Manufacturing in Virginia Industry
  • Chart: Tools of the Trade: Growth Strategies for Success

  • Technology & Systems
    Revenue Volatility
  • Chart: Volatility vs Industry Growth

  • Regulation & Policy
    Industry Assistance
    Table: Industry Data for the Electrical Equipment Manufacturing in Virginia Industry
    Includes:
  • Industry Revenue (2009-2023)
  • Establishments (2009-2023)
  • Businesses (2009-2023)
  • Employment (2009-2023)
  • Wages (2009-2023)
  • Electric power consumption (2009-2023)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
    Brownout
  • An intentional drop in voltage to prevent a blackout.
  • Generator
  • An engine that converts mechanical energy into electrical energy by electromagnetic induction.
  • Offshore
  • The relocation of a company's business process, such as manufacturing or accounting, from one country to another, whether the work is outsourced or stays within the company.
  • Outsource
  • To procure goods or services under contract with an outside supplier.
  • Relay
  • An electrical device in which current flowing through one circuit can switch a current in a second circuit on and off.
  • Switchgear
  • An electrical apparatus used to open and close circuits; may also include devices that provide protection for apparatus connected to an electrical supply.
  • Transformer
  • An electrical device by which alternating current of one voltage is changed to another voltage.
  • Uninterruptible Power Supply (Ups)
  • An electrical apparatus that provides emergency power to a load when the input power source, typically the utility mains, fails.
  • Wholesale Bypass
  • A popular trend within retail and manufacturing industries where producers supply goods directly to stores, eliminating the middleman.
  • What Our Customers Say

    Why buy this report?

    The Electrical Equipment Manufacturing in Virginia industry market report contains data and analysis of the most influential current and future trends shaping the industry. IBISWorld’s in-depth industry market research is presented in a logical, user-friendly format, and provides growth and profit forecasts for a five-year outlook period.

    IBISWorld industry market research reports enable you to:
    • Find out about key industry trends
    • Identify threats and opportunities
    • Inform your decisions for marketing, strategy and planning
    • Quickly build competitive intelligence
    This report on Electrical Equipment Manufacturing in Virginia:
    • Provides Market Size information to assist with planning and strategic decisions.
    • Includes the necessary information to perform SWOT, PEST and STEER analysis.
    • Helps you understand market dynamics to give you a deeper understanding of industry competition and the supply chain.
    • Analyses key performance and operational metrics so that you can benchmark against your own business, that of your customers’ businesses, or your competitors’ businesses.
    The Electrical Equipment Manufacturing in Virginia market research report includes:
    • Historical data and analysis for the key drivers of this industry
    • A five-year forecast of the market and noted trends
    • Detailed research and segmentation for the main products and markets
    • An assessment of the competitive landscape and market shares for major companies
    • And of course, much more

    IBISWorld reports on thousands of industries around the world. Our clients rely on our information and data to stay up-to-date on industry trends across all industries. With this IBISWorld Industry Research Report on Electrical Equipment Manufacturing in Virginia, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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