Hardware Manufacturing in Canada - Industry Market Research Report

Drilled down: Imports' share of domestic demand will contract, supporting industry growth

The Hardware Manufacturing industry in Canada produces a variety of metal hardware products, including hinges, handles, keys and locks, primarily for the construction, furniture and automotive sectors. The industry has been defined by volatile trade and downstream markets over the past five years. Operators in the Household Furniture Manufacturing and Car and Automobile Manufacturing industries in Canada, as well as construction markets and consumers, purchase hardware products manufactured by this industry. A strong housing market, driven by low interest rates due to the COVID-19 pandemic, supported the industry in 2020 and 2021, but declines in residential construction late in the period hurt demand for industry goods. Still, overall growth in the number of housing starts has staved off sharper declines amid economic uncertainty. Over the past five years, revenue has decreased at a CAGR of 2.8% to $1.9 billion over the years to 2023, with an expected decline of 6.7% in 2023. The Hardware Manufacturing industry in Canada manufactures forms of metal hardware. Items produced include metal hinges, metal handles, keys and locks, but exclude time locks and coin-operated locks. 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.