Springing forward: Export sales to the United States have helped contribute to industry revenue growth

Operators in the Wire and Spring Manufacturing industry in Canada produce a wide range of fabricated metal products, including heavy and light gauge springs, wire rope, wire mesh and chain link fencing. Industry products are then used as intermediate inputs in the production of various goods, such as mattresses and furniture, vehicles and industrial machinery. Intense competition from low-cost imports from countries such as China and Mexico constrained industry performance over the five years to 2019. In general, springs and other fabricated wire products are commoditized goods that can be manufactured overseas at significantly lower production costs. Industry products are used across a range of manufacturing processes...read more.

Industry Statistics & Market Size
Annual Growth 14-19
Forecast Growth 19-24

Industry Threats & Opportunities

  • Volatility in steel prices presented operators with a challenge regarding minimizing purchase costs and boosting profit margins
  • Operators relied on export markets to bolster sales
  • In response to demand for new products, operators will enter the industry
  • Industry Report - Industry Key Buyers Chapter

    The Wire and Spring Manufacturing industry in Canada operates with a low level of market share concentration, as the top four companies in the industry are estimated to account for less than 30.0% of total industry revenue in 2019. The industry comprises a small number of large metal product manufacturers producing a wide range of fabricated metal products. However, these companies derive only a small share of their annual net revenue from the sale of industry-relevant spring and wire products. For example, industry major player Tree Island Steel Ltd. derives a large portion of its annual revenue from the sale of internally drawn wire products, which is more appropriately classified in the Steel Rolling and Drawing industry in Canada (IBISWorld report 33122CA)...purchase to read more.

    Additional Insights for the Wire & Spring Manufacturing Industry

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

  • Upstream vertical integration (ownership links)
  • Effective cost control and economies of scale
  • Easy access for clients
  • IBISWorld analysts also discuss how external factors such as World price of steel and Canadian effective exchange rate index in the Wire & Spring Manufacturing industry impact industry performance..

    shopping_cartPURCHASE OPTIONS

    What's in this report

    What is the Wire & Spring Manufacturing Industry?

    Operators in this industry manufacture heavy gauge and light gauge springs using steel and drawn wire, in addition to manufacturing other wire-based products such as wire rope, wire mesh and chain link fencing. The industry does not include manufacturers that primarily draw wire for sale to other companies.

    Industry Products
  • Heavy gauge springs
  • Light gauge springs
  • Steel wire rope and cable
  • Nonferrous wire products
  • Steel nails and similar products
  • Woven wire products
  • Other fabricated wire products
  • Industry Activities
  • Manufacturing steel springs
  • Manufacturing wire springs
  • Manufacturing fabricated wire products
  • Table of Contents

    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Executive Summary
    Key External Drivers
  • World price of steel
  • Canadian effective exchange rate index
  • Value of nonresidential construction
  • Demand from car and automobile manufacturing
  • Demand from manufacturing

  • Current Performance
  • A global industry
  • Industry structure and price dynamics
  • Chart: Revenue Growth

  • Industry Outlook
  • Old problems persist
  • Demand from downstream sectors
  • Table: Wire & Spring Manufacturing Industry Revenue Outlook

  • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Wire & Spring Manufacturing Industry Lifecycle vs The Economy

  • Supply Chains
    Key Buying Industries
  • Bridge & Elevated Highway Construction in Canada
  • Concrete Contractors in Canada
  • Car & Automobile Manufacturing in Canada
  • Truck & Bus Manufacturing in Canada
  • Household Furniture Manufacturing in Canada
  • Mattress Manufacturing in Canada
  • Farm, Lawn & Garden Equipment Wholesaling in Canada
  • Home Improvement Stores in Canada
  • Department Stores in Canada

  • Key Selling Industries
  • Iron & Steel Manufacturing in Canada
  • Metal Stamping & Forging in Canada
  • Steel Rolling & Drawing in Canada

  • Products & Services
  • Light gauge springs
  • Other fabricated wire products
  • Steel wire rope and cable
  • Nonferrous wire products
  • Heavy gauge springs
  • Woven wire products
  • Steel nails and similar products
  • Chart: Wire & Spring Manufacturing Industry Products and Services Segmentation

  • Demand Determinants
  • Demand from the construction sector
  • Demand from the agricultural sector
  • Other demand determinants

  • Major Markets
  • Exports
  • Construction
  • Industrial and automotive manufacturing
  • General manufacturing
  • Furniture manufacturing
  • Chart: Major Market Segmentation for the Wire & Spring Manufacturing Industry

  • International Trade
    Business Locations
    Chart: Business Locations by State
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
    WagesPurchasesProfitProfit, measured as earnings before interest and taxes, is expected to comprise 8.7% of revenue in 2019, up from 7.0% in 2014. Over the past few decades, industry profit margins have proved volatile due to intense competitive pressure from imported springs and other fabricated metal products, as steadily increasing import penetration into Canada from the global market has acted as the driving force behind shaky profitability in recent years. Increased import penetration has accordingly forced domestic operators to lower their prices, which has constrained industry profitability in the long term.DepreciationMarketingRentUtilitiesOther
  • Chart: Cost Structure Benchmarking – Sector vs Wire & Spring Manufacturing

  • Basis of Competition
    Barriers to Entry
  • Table: Barrier to Entry Checklist for the Wire & Spring Manufacturing Industry

  • Industry Globalization
    Standen's Ltd., Leggett and Platt Inc., Tree Island Steel,
  • Table: Standen's Ltd. - financial performance
  • Table: Leggett and Platt Inc. - financial performance
  • Table: Tree Island Steel - financial performance

  • Capital Intensity
  • Chart: Level of Capital Intensity for the Wire & Spring 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 Wire & Spring Manufacturing Industry
  • Industry Revenue (2010-2024)
  • Industry Gross Product (2010-2024)
  • Establishments (2010-2024)
  • Businesses (2010-2024)
  • Employment (2010-2024)
  • Exports (2010-2024)
  • Imports (2010-2024)
  • Wages (2010-2024)
  • Wages (2010-2024)
  • Purchases (2010-2024)
  • Profit (2010-2024)
  • Depreciation (2010-2024)
  • Marketing (2010-2024)
  • Rent (2010-2024)
  • Utilities (2010-2024)
  • Other (2010-2024)
  • Industrial capacity utilization (2010-2024)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
    Flat Spring
  • A simple type of spring made of a small, flat piece of metal. Flat springs are used in automotive applications, such as suspension systems. Flat springs are also called beam springs and leaf springs.
  • Helical Spring
  • A type of spring formed by winding strips of metal around a cylinder.
  • Leaf Spring
  • A type of spring made out of a flat strip or individual leaves. Most are steel, but some are made of lightweight composite materials.
  • Original Equipment Manufacturer (Oem)
  • A company that manufactures products or components that are purchased by a company and retailed under the purchasing company's brand name.
  • Torsion Bar
  • A part of an automotive suspension consisting of a bar that twists to maintain stability.
  • What Our Customers Say

    Why buy this report?

    IBISWorld’s Wire & Spring Manufacturing market research report offers insightful industry analysis and research into the market at the national level. IBISWorld’s in-depth industry market research is presented in a logical and consistent format. The industry report contains key industry statistics, market size, industry trends, and growth and profit forecasts for a 5-year outlook period.

    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 Wire & Spring 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 Wire & Spring 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 Wire & Spring Manufacturing, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

    Contact Us

    Want to speak to a representative? Call us.