Wire & Spring Manufacturing in Canada - Industry Market Research Report

Wire & Spring Manufacturing in Canada - Industry Market Research Report

  • July 2020 •
  • 50 pages •
  • Report ID: 4564074 •
  • Format: PDF
Springing back: Weak demand from domestic markets will likely challenge industry operators

Abstract

Wire & Spring Manufacturing in Canada
Operators in the Wire and Spring Manufacturing industry in Canada produce a wide range of fabricated metal products, including heavy and light gauge springs, wire rope, wire mesh and chain link fencing. Industry products are then used as intermediate inputs in the production of various goods, such as mattresses and furniture, vehicles and industrial machinery. Intense competition from low-cost imports from countries such as China and Mexico constrained industry performance over the five years to 2019. In general, springs and other fabricated wire products are commoditized goods that can be manufactured overseas at significantly lower production costs. Industry products are used across a range of manufacturing processes. However, over the five years to 2019, industry operators have relied heavily on a small number of key downstream markets to drive sales. Over the five years to 2024, IBISWorld forecasts industry revenue to continue growing, albeit slowly.

Operators in the Wire and Spring Manufacturing industry in Canada manufacture heavy gauge and light gauge springs using steel and drawn wire, in addition to manufacturing other wire-based products such as wire rope, wire mesh and chain link fencing. The industry does not include manufacturers that primarily draw wire for sale to other companies.

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.
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