Major Household Appliance Manufacturing in Canada - Industry Market Research Report
- April 2018 •
- 32 pages •
- Report ID: 4387162
Major Household Appliance Manufacturing in Canada
The past five years brought the rapid decline of the Major Household Appliance Manufacturing industry in Canada. Due to weak underlying domestic demand, the relative strength of the Canadian dollar and the high cost of labour, many of the industry’s multinational companies chose to relocate production abroad. The high cost of labour, coupled with the relative strength of the Canadian dollar, proved disastrous for the industry’s manufacturers over the five years to 2018. The Canadian-dollar effective exchange rate, which measures the value of the dollar relative to the currencies of Canada’s main trading partners, rose substantially before the current period, while labour costs rose as the domestic economy recovered from the tumult of the recession. Since a significant portion of household appliances manufactured in Canada are sent to the United States, the industry’s largest export market, many of the industry’s largest manufacturers decamped for the country (which has lower labour costs). The industry is expected to stabilize and experience a slower decline over the five years to 2023. Assisted by rising consumer demand and a decrease in input prices, including rubber and steel, are expected to temper the fall and slightly increase profit margins.
This industry includes operators that manufacture major household cooking appliances, refrigerators, freezers, household laundry equipment and other major electrical and nonelectrical household appliances such as dishwashers, garbage disposal units, water heaters and trash compactors. Small cooking appliances (e.g. hot plates), fans, central and room air conditioners, vacuums and electric irons are not included in this industry.
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.