Hit a wall: Rising import competition is expected to limit industry revenue growth

The Hardware Manufacturing industry comprises establishments that manufacture a variety of metal hardware products, including hinges, handles, keys and locks. Over the past five years, the industry has experienced growth as demand for industry products increased, fuelled by improved conditions in the nonresidential construction and automobile manufacturing markets. Despite experiencing slight postrecessionary relief, the industry is not anticipated to continue along its upward trajectory for much longer. Imports will continue growing as the domestic currency appreciates over the five years to 2022. Consequently, the price pressure brought on by relatively affordable foreign-made hardware products will continue to hurt domestic manufacturers and limit industry revenue growth...read more.

Industry Statistics & Market Size
Annual Growth 12-17
Forecast Growth 17-22
Market Share of Companies

Industry Threats & Opportunities

  • Import penetration has caused strong competition from countries with lower wages
  • Exports have been a boon for the industry over the past five years
  • Demand for construction-related hardware will remain volatile over the next five years
  • Industry Report - Industry Locations Chapter

    The distribution of hardware manufacturing facilities correlates with the distribution of population. Industry goods are mainly used in the construction and automobile sectors, therefore, the higher the population in the area the higher the demand for industry goods. On the whole, Hardware Manufacturing establishments in Canada are located in the regions of Ontario, Quebec, British Columbia and Alberta.According to Statistics Canada, 86.3% of the Canadian population lives in the provinces of Quebec, Ontario, British Columbia and Alberta, together. With a population of more than 36 million dispersed over a large geographic area, the majority of the population tends to live in the southern part of the country, which is also home to 17 of Canada's largest cities. Ont...purchase to read more.

    Additional Insights for the Hardware Manufacturing Industry

    IBISWorld identifies 250 Key Success Factors for a business.The most important for the Hardware Manufacturing Industry are

  • Economies of scale
  • Establishment of brand names
  • Having a diverse range of clients
  • IBISWorld analysts also discuss how external factors such as Housing starts and Canadian-dollar effective exchange rate index in the Hardware Manufacturing industry impact industry performance..

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    What's in this report

    What is the Hardware Manufacturing Industry?

    This industry manufactures forms of metal hardware. Items produced include metal hinges, metal handles, keys and locks, but exclude time locks and coin-operated locks.

    Industry Products
  • Furniture hardware
  • Motor vehicle hardware
  • Construction hardware
  • Other hardware
  • Industry Activities
  • Metal furniture hardware and caster
  • Metal appliance hardware
  • Builder's metal hardware
  • Table of Contents

    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Executive Summary
    Key External Drivers
  • Housing starts
  • Canadian-dollar effective exchange rate index
  • Consumer spending
  • Value of residential construction
  • Number of motor vehicle registrations

  • Current Performance
  • Handling downstream industries
  • Bolting trade
  • Profit lockdown
  • Chart: Revenue Growth

  • Industry Outlook
  • Weak demand
  • International trade
  • Industry structure
  • Table: Hardware Manufacturing Industry Revenue Outlook

  • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Hardware Manufacturing Industry Lifecycle vs The Economy

  • Supply Chains
    Key Buying Industries
  • Homebuilders in Canada
  • Car & Automobile Manufacturing in Canada
  • Aircraft, Engine & Parts Manufacturing in Canada
  • Hardware Stores in Canada
  • Commercial Building Construction in Canada

  • Key Selling Industries
  • Copper, Zinc & Lead Refining in Canada
  • Ferrous Metal Foundry Products in Canada
  • Iron & Steel Manufacturing in Canada
  • Metal Pipe & Tube Manufacturing in Canada
  • Screw, Nut & Bolt Manufacturing in Canada

  • Products & Services
  • Construction hardware
  • Motor vehicle hardware
  • Other hardware
  • Furniture hardware
  • Chart: Hardware Manufacturing Industry Products and Services Segmentation

  • Demand Determinants
    Major Markets
  • Exports to the United States
  • Exports to Mexico
  • Domestic consumers
  • All other exports
  • Chart: Major Market Segmentation for the Hardware Manufacturing Industry

  • International Trade
    Business Locations
    Chart: Business Locations by State
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
    ProfitPurchasesWagesDepreciation, rent and utilitiesOther
  • Chart: Cost Structure Benchmarking – Sector vs Hardware Manufacturing

  • Basis of Competition
  • Internal competition
  • External competition

  • Barriers to Entry
  • Table: Barrier to Entry Checklist for the Hardware Manufacturing Industry

  • Industry Globalization
    Assa Abloy,
  • Table: Assa Abloy - financial performance

  • Capital Intensity
  • Chart: Level of Capital Intensity for the Hardware Manufacturing Industry
  • Chart: Tools of the Trade: Growth Strategies for Success

  • Technology & Systems
    Revenue Volatility
  • Chart: Volatility vs Industry Growth

  • Regulation & Policy
    Industry Assistance
    Table: Industry Data for the Hardware Manufacturing Industry
  • Industry Revenue (2008-2022)
  • Industry Gross Product (2008-2022)
  • Establishments (2008-2022)
  • Businesses (2008-2022)
  • Employment (2008-2022)
  • Exports (2008-2022)
  • Imports (2008-2022)
  • Wages (2008-2022)
  • Canadian-dollar effective exchange rate (2008-2022)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
  • A manufacturing process by which a liquid material is usually poured into a mold that contains a hollow cavity of the desired share.
  • Do-It-Yourself
  • Building, modifying or repairing of something without the aid of experts or professionals.
  • Electronic Data Interchange
  • The transmission of electronic documents between businesses from one computer system to another.
  • Most Favoured Nation Tariff
  • The trade status of a country that is characterized by low tariffs and limited restrictions. It is also commonly referred to as Normal Trade Relations (NTR.)
  • What Our Customers Say

    Why buy this report?

    IBISWorld’s Hardware Manufacturing market research report provides the latest industry statistics and industry trends, allowing you to identify the products and customers driving revenue growth and profitability. The industry report identifies the leading companies and offers strategic industry analysis of the key factors influencing the market.

    IBISWorld industry market research reports enable you to:
    • Find out about key industry trends
    • Identify threats and opportunities
    • Inform your decisions for marketing, strategy and planning
    • Quickly build competitive intelligence
    This report on Hardware Manufacturing:
    • Provides Market Size information to assist with planning and strategic decisions.
    • Includes the necessary information to perform SWOT, PEST and STEER analysis.
    • Helps you understand market dynamics to give you a deeper understanding of industry competition and the supply chain.
    • Analyses key performance and operational metrics so that you can benchmark against your own business, that of your customers’ businesses, or your competitors’ businesses.
    The Hardware Manufacturing market research report includes:
    • Historical data and analysis for the key drivers of this industry
    • A five-year forecast of the market and noted trends
    • Detailed research and segmentation for the main products and markets
    • An assessment of the competitive landscape and market shares for major companies
    • And of course, much more

    IBISWorld reports on thousands of industries around the world. Our clients rely on our information and data to stay up-to-date on industry trends across all industries. With this IBISWorld Industry Research Report on Hardware Manufacturing, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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