Wiring Device Manufacturing in the US - Market Research Report (2014-2029)
New York, United States
Last Updated: July 2024
NAICS 33593Revenue
$16.9bn
Past 5-Year Growth
Profit
$XXX.Xm
Employees
36,435
Businesses
429
Wages
$X.Xbn
Wiring Device Manufacturing in the US industry analysis
The COVID-19 pandemic and associated economic disruptions created stagnation for the manufacturers of wiring devices in the current period. Global construction activity took a nosedive amid lockdowns in 2020, curtailing demand for wiring devices while plummeting global manufacturing activity led to higher costs. The Federal Reserve's response via monetary policy easing, combined with mass fiscal stimulus, helped stabilize the industry. Meanwhile, high competition and rising commodity prices – particularly the world price of copper in 2021 – squeezed profit. Subsequent geopolitical tensions and supply issues heightened cost pressures, but fragmented industry conditions have restricted manufacturers from fully transferring these costs to consumers. Revenue expanded by a CAGR of 0.6% over the past five years and is expected to reach $16.9 billion through the end of 2024, with an estimated 0.5% growth in revenue anticipated in 2024.
Trends and Insights
- Economic activity restrictions in response to the COVID-19 pandemic caused industry revenue to stagnate. Revenue has since rebounded as the pandemic subsided and production resumed.
- Noncurrent-carrying devices are the industry’s main source of revenue. These devices gained market share because of skyrocketing commodity prices, which resulted in higher prices for industry goods.
- Wiring device manufacturers congregate in regions near downstream markets to minimize transportation costs. For example, Michigan is home to the automotive industry and has a significant presence of wiring device manufacturers, which are producing components for electric vehicles and their associated charging stations.
- Manufacturers compete domestically for large contracts in the construction and automotive industries. The wide application of wiring devices is a core competitive advantage for manufacturers, underscoring the need for innovation and developing economies of scale.
Industry Overview
Market size and recent performance (2014-2029)
Industry revenue has grown at a CAGR of 0.6 % over the past five years, to reach an estimated $16.9bn in 2024.
Trends and Insights
Woes in manufacturing pressured growth during the pandemic, but volatility has subsided
- Global construction activity plummeted amid COVID-19 lockdowns, severely hampering demand for wiring devices in 2020. Negative consumer and business sentiment rendered construction projects unprofitable in the short term, leading to a halt or delay for major projects.
- Additional trends and insights available with purchase
Source: IBISWorld
Industry outlook (2024-2029)
Market size is projected to grow over the next five years.
Trends and Insights
Energy efficiency push is set to benefit major players in the industry
- Rising spending on automation and industrial controls within manufacturing industries will promote demand for wiring devices. Consumers and utility companies will demand wiring devices with increased electrical current quality as they seek enhanced energy and environmental performance.
Biggest companies in the Wiring Device Manufacturing in the US
| Company | Market Share (%)
2024 | Revenue ($m)
2024 | Profit ($m)
2024 | Profit Margin (%)
2024 |
|---|---|---|---|---|
Te Connectivity ltd. | 3,045.9 | 280.9 | 9.2 | |
Hubbell Inc. | 1,582.5 | 195.5 | 12.4 | |
Legrand | 642.1 | 49.1 | 7.6 |
To view the market share and analysis for all 9 top companies in this industry, view purchase options.
Products & Services Segmentation
Source: IBISWorld
Industry revenue is measured across several distinct product and services lines, including Current-carrying wiring devices and supplies, Current-carrying switches for electrical circuitry and Current-carrying wire connectors for electrical circuitry. Current-carrying wiring devices and supplies is the largest segment of the Wiring Device Manufacturing in the US.
Trends and Insights
Turmoil in the real estate sector tempers growth in current-carrying wiring devices and supplies
- Current-carrying wiring devices, lamp holders, power outlets, precious metal, connector bodies and lightning arrestors are the most popular current-carrying wiring products. Persisting headwinds in the real estate sector will continue to pressure this segment by affecting demand for construction.
- More insights available in the full report
Widen you competitive advantage with related industries
Competitors
- There are no industries to display.
Complementors
- Ceramics Manufacturing in the US
- Glass Product Manufacturing in the US
- Semiconductor & Circuit Manufacturing in the US
- Circuit Board & Electronic Component Manufacturing in the US
- Electrical Equipment Manufacturing in the US
International industries
- Global Consumer Electronics Manufacturing
- Wiring Device Manufacturing in Canada
- Electric Cable and Wire Manufacturing in Australia
- Electricity Distribution & Control Apparatus Manufacturing in the UK
- Wiring Device Manufacturing in Germany
Table of Contents
About this industry
Industry definition
Companies in this industry manufacture current- and noncurrent-carrying wiring devices for the purpose of wiring electrical circuits. These include 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.
What's included in this industry?
Manufacturing electrical conduits and conduit fittingsManufacturing current-carrying wire connectors for electrical circuitryManufacturing current-carrying switches for electrical circuitryManufacturing pole-line and transmission hardwareManufacturing noncurrent-carrying wiring devices and suppliesManufacturing current-carrying wiring devices and suppliesCompanies
Te Connectivity ltd.Hubbell Inc.LegrandPurchase this report to view all 9 major companies in this industry.
Related Terms
CONNECTOROUTSOURCEOFFSHOREELECTRIC PLUGSWITCHIndustry Code
NAICS 33593 - Wiring Device Manufacturing in the US
Performance
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Analyst insights
Economic activity restrictions in response to the COVID-19 pandemic caused industry revenue to stagnate. Revenue has since rebounded as the pandemic subsided and production r...
In this chapter (4)
- Current Performance
- Outlook
- Volatility
- Life Cycle
Key metrics
- Annual Revenue, Recent Growth, Forecast, Revenue Volatility
- Number of Employees, Recent Growth, Forecast, Employees per Business, Revenue per Employee
- Number of Businesses, Recent Growth, Forecast, Employees per Business, Revenue per Business
- Total Profit, Profit Margin, Profit per Business
Charts
- Revenue, including historical (2014-2023) and forecast (2024-2029)
- Employees, including historical (2014-2023) and forecast (2024-2029)
- Businesses, including historical (2014-2023) and forecast (2024-2029)
- Profit, including historical (2014-2024)
- Industry Volatility vs. Revenue Growth
- Industry Life Cycle
Detailed analysis
- Trends in supply, demand and current events that are driving current industry performance
- Expected trends, economic factors and ongoing events that drive the industry's outlook
- Key success factors for businesses to overcome volatility
- How contribution to GDP, industry saturation, innovation, consolidation, and technology and systems influence the industry's life cycle phase.
Products and Markets
Learn about an industry's products and services, markets and trends in international trade.
Analyst insight
Noncurrent-carrying devices are the industry’s main source of revenue. These devices gained market share because of skyrocketing commodity prices, which resulted in higher pr...
In this chapter
- Products & Services
- Major Markets
- International Trade
Key metrics
- Largest market segment and value in 2024
- Product innovation level
- Total imports, level and trend
- Total exports, level and trend
- Trade Balance
Charts
- Products & services segmentation in 2024
- Major market segmentation in 2024
- International trade, including imports by country and exports by country
Detailed analysis
- Trends impacting the recent performance of the industry's various segments
- Innovations in the industry's product or service offering, specialization or delivery method
- Key factors that successful businesses consider in their offerings
- Buying segments and key trends influencing demand for industry products and services
- Recent trends in import and export volumes, country of origin or destination, and expected future trends
Geographic Breakdown
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Analyst insights
Wiring device manufacturers congregate in regions near downstream markets to minimize transportation costs. For example, Michigan is home to the automotive industry and has a...
In this chapter (1)
- Business Locations
Charts
- Share of revenue, establishment, wages and employment in each state
- Share of population compared to establishments in each region in 2024
Tables
- Number and share of establishments in each state in 2024
- Number and share of revenue each state accounts for in 2024
- Number and share of wages each state accounts for in 2024
- Number and share of employees in each state in 2024
Detailed analysis
- Geographic spread of the industry across North America, and trends associated with changes in the business landscape
- Key success factors for businesses to use location to their advantage
Competitive Forces
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
Analyst insights
Manufacturers compete domestically for large contracts in the construction and automotive industries. The wide application of wiring devices is a core competitive advantage f...
In this chapter (4)
- Concentration
- Barriers to Entry
- Substitutes
- Buyer & Supplier Analysis
Key metrics
- Industry concentration level
- Industry competition level and trend
- Barriers to entry level and trend
- Substitutes level and trend
- Buyer power level and trend
- Supplier power level and trend
Charts
- Market share concentration among the top 4 suppliers from 2019-2024
- Supply chain including upstream supplying industries and downstream buying industries, flow chart
Detailed analysis
- Factors impacting the industry’s level of concentration, such as business distribution, new entrants, or merger and acquisition activity.
- Key success factors for businesses to manage the competitive environment of the industry.
- Challenges that potential industry entrants face such as legal, start-up costs, differentiation, labor/capital intensity and capital expenses.
- Key success factors for potential entrants to overcome barriers to entry.
- Competitive threats from potential substitutes for the industry’s own products and services.
- Key success factors for how successful businesses can compete with substitutes.
- Advantages that buyers have to keep favorable purchasing conditions.
- Advantages that suppliers have to maintain favorable selling conditions.
- Key success factors for how businesses can navigate buyer and supplier power.
Companies
Learn about the performance of the top companies in the industry.
Analyst insights
Increased consolidation has expanded the market share of the industry’s largest manufacturers. The top three manufacturers generate more than one-third of industry revenue.
In this chapter
- Market Share Concentration
- Companies
- Company Spotlights
Charts
- Industry market share by company in 2020 through 2024
- Major companies in the industry, including market share, revenue, profit and profit margin in 2024
- Overview of Te Connectivity ltd.'s performance by revenue, market share and profit margin from 2018 through 2024
- Overview of Hubbell Inc.'s performance by revenue, market share and profit margin from 2018 through 2024
- Overview of Legrand's performance by revenue, market share and profit margin from 2018 through 2024
- Overview of revenue, market share and profit margin trend for 6 additional companies
Detailed analysis
- Description and key data for Te Connectivity ltd., and factors influencing its performance in the industry
- Description and key data for Hubbell Inc., and factors influencing its performance in the industry
- Description and key data for Legrand, and factors influencing its performance in the industry
- Description, key data and performance trends for 6 additional companies
External Environment
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Analyst insights
The EPA and OSHA have outlined extensive protocols for manufacturers to follow. Failure to do so could result in fines or even plant closures in extreme cases.
In this chapter
- External Drivers
- Regulation & Policy
- Assistance
Key metrics
- Regulation & policy level and trend
- Assistance level and trend
Charts
- Regulation & Policy historical data and forecast (2014-2029)
- Assistance historical data and forecast (2014-2029)
Detailed analysis
- Demographic and macroeconomic factors influencing the industry, including Regulation & Policy and Assistance
- Major types of regulations, regulatory bodies, industry standards or specific regulations impacting requirements for industry operators
- Key governmental and non-governmental groups or policies that may provide some relief for industry operators.
Financial Benchmarks
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Analyst insights
Profit has risen slowly since it dropped in 2021, but has not returned to its prepandemic level. The COVID-19 pandemic’s pressure on industry profit has been ongoing. Manufac...
In this chapter
- Cost Structure
- Financial Ratios
- Key Ratios
Key metrics
- Profit margin, and how it compares to the sector-wide margin
- Average wages, and how it compares to the sector-wide average wage
- Largest cost component as a percentage of revenue
- Industry average ratios for days' receivables, industry coverage and debt-to-net-worth ratio
Charts
- Average industry operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2024
- Average sector operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2024
- Investment vs. share of economy
Data tables
- Industry Multiples (2017-2022)
- Industry Tax Structure (2017-2022)
- Income Statement (2017-2022)
- Balance Sheet (2017-2022)
- Liquidity Ratios (2017-2022)
- Coverage Ratios (2017-2022)
- Leverage Ratios (2017-2022)
- Operating Ratios (2017-2022)
- Cash Flow & Debt Service Ratios (2014-2029)
- Revenue per Employee (2014-2029)
- Revenue per Enterprise (2014-2029)
- Employees per Establishment (2014-2029)
- Employees per Enterprise (2014-2029)
- Average Wage (2014-2029)
- Wages/Revenue (2014-2029)
- Establishments per Enterprise (2014-2029)
- IVA/Revenue (2014-2029)
- Imports/Demand (2014-2029)
- Exports/Revenue (2014-2029)
Detailed analysis
- Trends in the cost component for industry operators and their impact on industry costs and profitability
Key Statistics
Industry Data
Data Tables
Including values and annual change:
- Revenue (2014-2029)
- IVA (2014-2029)
- Establishments (2014-2029)
- Enterprises (2014-2029)
- Employment (2014-2029)
- Exports (2014-2029)
- Imports (2014-2029)
- Wages (2014-2029)
Methodology
How are IBISWorld reports created?
IBISWorld has been a leading provider of trusted industry research for over 50 years to the most successful companies worldwide. With offices in Australia, the United States, the United Kingdom, Germany and China, we are proud to have local teams of analysts that conduct research, data analysis and forecasting to produce data-driven industry reports.
Our analysts start with official, verified and publicly available sources of data to build the most accurate picture of each industry. Analysts then leverage their expertise and knowledge of the local markets to synthesize trends into digestible content for IBISWorld readers. Finally, each report is reviewed by one of IBISWorld’s editors, who provide quality assurance to ensure accuracy and readability.
IBISWorld relies on human-verified data and human-written analysis to compile each standard industry report. We do not use generative AI tools to write insights, although members can choose to leverage AI-based tools within the platform to generate additional analysis formats.
What data sources do IBISWorld analysts use?
Each industry report incorporates data and research from government databases, industry-specific sources, industry contacts, and our own proprietary database of statistics and analysis to provide balanced, independent and accurate insights.
Key data sources in the US include:
- US Census Bureau
- US Bureau of Labor Statistics
- US International Trade Commission
Analysts also use industry specific sources to complement catch-all sources, although their perspective may focus on a particular organization or representative body, rather than a clear overview of all industry operations. However, when balanced against other perspectives, industry-specific sources provide insights into industry trends.
These sources include:
- Industry and trade associations
- Industry federations or regulators
- Major industry players annual or quarterly filings
Finally, IBISWorld’s global data scientists maintain a proprietary database of macroeconomic and demand drivers, which our analysts use to help inform industry data and trends. They also maintain a database of statistics and analysis on thousands of industries, which has been built over our more than 50-year history and offers comprehensive insights into long-term trends.
How does IBISWorld forecast its data?
IBISWorld’s analysts and data scientists use the sources above to create forecasts for our proprietary datasets and industry statistics. Depending on the dataset, they may use regression analysis, multivariate analysis, time-series analysis or exponential smoothing techniques to project future data for the industry or driver. Additionally, analysts will leverage their local knowledge of industry operating and regulatory conditions to impart their best judgment on the forecast model.
IBISWorld prides itself on being a trusted, independent source of data, with over 50 years of experience building and maintaining rich datasets and forecasting tools. We are proud to be the keystone source of industry information for thousands of companies across the world.
Learn more about our methodology and data sourcing on the Help Center.
Frequently Asked Questions
Unlock comprehensive answers and precise data upon purchase. View purchase options.
What is the market size of the Wiring Device Manufacturing in the US industry in United States in 2024?
The market size of the Wiring Device Manufacturing in the US industry in United States is $16.9bn in 2024.
How many businesses are there in the Wiring Device Manufacturing in the US industry in 2024?
There are 429 businesses in the Wiring Device Manufacturing in the US industry in United States, which has declined at a CAGR of 2.3 % between 2019 and 2024.
Has the Wiring Device Manufacturing in the US industry in United States grown or declined over the past 5 years?
The market size of the Wiring Device Manufacturing in the US industry in United States has been growing at a CAGR of 0.6 % between 2019 and 2024.
What is the forecast growth of the Wiring Device Manufacturing in the US industry in United States over the next 5 years?
Over the next five years, the Wiring Device Manufacturing in the US industry in United States is expected to grow.
What are the biggest companies in the Wiring Device Manufacturing in the US market in United States?
The biggest companies operating in the Wiring Device Manufacturing market in United States are Te Connectivity ltd., Hubbell Inc. and Legrand
What does the Wiring Device Manufacturing in the US in United States include?
Manufacturing electrical conduits and conduit fittings and Manufacturing current-carrying wire connectors for electrical circuitry are part of the Wiring Device Manufacturing in the US industry.
Which companies have the highest market share in the Wiring Device Manufacturing in the US in United States?
The company holding the most market share in United States is Te Connectivity ltd..
How competitive is the Wiring Device Manufacturing in the US industry in United States?
The level of competition is moderate and increasing in the Wiring Device Manufacturing in the US industry in United States.
