Industry Analysis & Industry Trends
During the five years to 2014, the Cabinet and Vanity Manufacturing industry fared poorly in the five years to 2014 because of shattered consumer confidence in the economy and slow residential housing expenditures due to the recession. Additionally, the steadily strengthening Canadian dollar made it cheaper for consumers to purchase imported cabinets and wood furniture products, thus adding to the marginal revenue growth over the period. In the five years to 2019, the industry is expected to moderatly expand, due to the recovery of the domestic and US housing markets. However, import competition will continue to grow because of the appreciating Canadian dollar... purchase to read more
Industry Report - Industry SWOT Analysis Chapter
The Cabinet and Vanity Manufacturing industry is in the declining stage of its life cycle. In the 10 years to 2019, industry value added (IVA), which measures an industry's contribution to the economy, is projected to slowly increase at an annualized rate of 1.0%. In comparison, Canada's GDP is forecast to grow at an annualized rate of 2.3% in the same period. As a result, this industry's importance to the overall economy is falling, which indicates a declining industry.
In recent years, domestic wood furniture manufacturers have been losing business to imports, especially from countries with low labour costs... purchase to read more