Industry Analysis & Industry Trends
The Cabinet and Vanity Manufacturing industry has grown moderately in the five years to 2015, despite industry contraction in the immediate wake of the economic downturn. At the beginning of the period, demand for industry products was low as residential housing expenditure and consumer confidence lagged. The subsequent strengthening of economic conditions spurred a recovery in downstream demand from the construction sector in Canada and the United States, leading to demand for industry products such as cabinets and countertops for new homes and renovated properties. In the coming years, the industry will moderately expand, due to the recovery of the domestic and US housing markets... 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 2020, industry value added (IVA), which measures an industry's contribution to the economy, is projected to slowly increase at an annualized rate of 0.7%. In comparison, Canada's GDP is forecast to grow at an annualized rate of 2.2% 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