Wiring Device Manufacturing in the US - Industry Market Research Report

Wiring Device Manufacturing in the US - Industry Market Research Report

Wiring Device Manufacturing in the US

The Wiring Device Manufacturing industry has contracted over the five years to 2023. The industry's role in the supply chains of manufacturing and construction-based industries makes it susceptible to demand factors affecting these markets. While macroeconomic growth has largely underpinned the expansion of manufacturing and construction markets over the period, the economic shocks bookending the five-year period are expected to cause challenging operating conditions for the industry. The added severity of the COVID-19 pandemic, which induced economic shock and led to a decline of 1.4% in 2020, is expected to accelerate the industry's troubles. That being said, the industry is expected to recover somewhat in 2023 as vaccination rates increase and the economy begins to slowly recover. Industry revenue has declined at an estimated annualized rate of 2.1% to $15.9 billion over the past five years, including a fall of 2.1% in 2023.

Companies in this industry manufacture current-carrying wiring devices and noncurrent-carrying wiring devices for wiring electrical circuits. These include products such as 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.