Electrical Equipment Manufacturing in the US
Over the five years to 2019, the Electrical Equipment Manufacturing industry has declined due to rising import competition and adverse operating conditions. Substantial growth in the value of the US dollar during the five-year period has increased the international buying power of downstream markets. In turn, imports' share of domestic demand has steadily increased to account for more than half of the industry's domestic demand. Additionally, in 2015, a series of notable economic events, including the Federal Reserve's move to raise interest rates, China's slowing GDP growth and the subsequent crash in commodity prices, have all adversely affected the Manufacturing sector (IBISWorld report 31-33) as a whole. Improving downstream markets in more recent years have bolstered industry sales, while imports have continued to weigh down domestic operators. Import penetration has risen as a result of increased competition from countries with lower wages and fewer regulations, which enable them to manufacture industry products at lower costs. Expected upgrades in infrastructure are anticipated to stimulate demand for industry products over the five years to 2024.
This industry manufactures power, distribution and specialty transformers; electric motors, generators and motor-generator sets, switchgear and switchboard apparatus, relays and industrial controls. Electrical equipment manufacturers sell their products to other manufacturing industries, wholesalers and the construction sector.
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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