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Market Research Report

North America Electrical Equipment Manufacturing Market Outlook 2024: Regional Opportunity and Demand Analysis, Market Forecast, 2016-2024

Published On : 2018-01-16 Report Page : 230 Category: Manufacturing

North America Electrical Equipment Manufacturing Market

Market Overview

The electrical equipment manufacturing sector comprises of companies manufacturing products and equipment that aid in the generation and distribution of electricity, and equipment that use electricity.

The electrical equipment manufacturing market in North America has shown moderate growth in recent years, owing to slow revival of economic activity. The West Coast dockworker slowdown in the US continues to have lingering impact on the manufacturing industry in the country. Huge inventory buildups and declining shipment rates in the country further contributed to the slow growth rate of the manufacturing sector.

As per the US Bureau of Economic Analysis, the manufacturing sector contributes 12% to the GDP of the country, and computer and electronic products accounted for 12.4% of the manufacturing sector’s GDP, making it the second largest segment of manufacturing by size. Electrical equipments, appliances and components reported USD 55.5 billion value added in 2016.

Computer and Electronic manufacturing revenues in Canada increased 3.1% from USD 2.4 Billion 2013 to USD 2.7 Billion in 2014, while value added increased 6.5% at the same time, as per Canadian Government data.

Since both U.S and Canada are developed countries, they drive greater shares of their GDP from services rather than manufacturing. Offshore outsourcing to Asian countries has also been a trend since a considerable amount of time. The past couple of decades witnessed a massive reduction of manufacturing jobs in the US, and also a fall in wages. Technological development and innovation continues to take place in North America, while mass production has shifted to regions with rising industrialization and cheap labor.

A rising trend is the use of LED lights in various electrical equipment due to their low power consumption and cost effectiveness. They are being used especially in household appliances for minimal power consumption and increased visual appeal of the equipment.

Market Segmentation

  • By Type of Equipment

    • Household Appliances
    • Lighting Equipment
    • Wiring and Cables
    • Batteries
    • Power Generation Equipment
    • Transmission and Control Equipment
  • By End User  

    •  Commercial Users
    • Residential/ Domestic Users
  • By Country

    • United States {Market Share (%), Market Size (USD Billion), Production (Units)}
    • Canada {Market Share (%), Market Size (USD Billion), Production (Units)}

Market Size and Forecast (2016-2024)

The market for electrical equipment manufacturing in North America was valued at USD 0.5 billion in 2016. On the back of a rising manufacturing industry in the region, the market is expected to register a CAGR of 10.2% during the forecast period and reach a market size of USD 0.72 billion by 2024.

Manufacturing of power generation, transmission and control equipment occupies the largest market share in terms of revenue, followed by household appliances. This can be attributed to the large scale application and usage of the generation and transmission devices.

The United States occupies a larger market share than Canada in terms of revenue. This can be attributed to its robust manufacturing sector, which has the highest multiplier effect among all industries in the country.

Key Drivers and Restraints

Revival of the manufacturing sector after an economic slump during and post the financial crisis of 2008, and rising demand of electrical equipments due to their increased usage across industry verticals are the key factors expected to drive the market during the forecast period. Concentration on developing technologies and outsourcing of production also helps the region maintain an edge in sales as well as innovations.

However, growing manufacturing industries in developing regions of the world like Asia might pose a threat to the electrical equipment manufacturing industry in North America. Further, government regulations with respect to manufacturing of equipment in the region also act as restraints to the market.

Major Players

The major players of the North American electrical equipment manufacturing market are as follows:

  • Samsung Electronics
    • Synopsis
    • Business Strategy
    • Product Portfolio
    • SWOT Analysis
  • Generic Electric
  • Panasonic Corporation
  • Philips
  • Siemens
  • Toshiba
  • LG Electronics Inc
  • Whirlpool Corp
  • Schneider Electric S.A.
  • Bosch Gmbh

Scope Background

Market Synopsis

Market Segmentation

The North American electrical equipment manufacturing market is segmented as follows:

  • By Type of Equipment (Market Size, Demand Analysis and Growth Analysis)
  • By End-user  (Market Size, Demand Analysis and Growth Analysis)

By Country

  • The United States of America {Market Size, Growth Analysis and Opportunity Analysis}
  •  Canada {Market Size, Growth Analysis and Opportunity Analysis}

Market Dynamics: Growth Drivers, Restraints and Opportunities

  • Risk Factors
  • Regional Variations
  • Recent Trends and Developments

Key Market Players

  • Synopsis
  • Business Strategy
  • Product Portfolio
  • SWOT Analysis

Porter’s Five Force Model

Market Landscape: Competition and Beyond

Market outlook for business players and entry level players to ascertain their business in dynamic ecosystem

Expert Analysis                                                                                       

Concluding Remarks


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North America Electrical Equipment Manufacturing Market Outlook 2024: Regional Opportunity and Demand Analysis, Market Forecast, 2016-2024

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