$662.4m
$XX.Xm
1,319
256
$XXX.Xm
A key ability that successful companies in this industry possess is the ability to adapt their business strategy to changing consumer and other market preferences. As a result, most manufacturers spend a significant amount of money on research and development initiatives. Audio and video manufacturers have faced volatile demand trends during the period. 2020 provided manufacturers with strong demand since extremely low-interest rates and rapidly rising housing starts led to increased downstream demand from new homeowners looking to outfit their property. This carried over into 2021 as rates remained low and housing starts remained high. As the Bank of Canada looked to reel in inflation rates in 2022, interest rates would increase as a result. Not only does this cut into housing start, but rising interest rates also slow down consumer spending and disposable income. As a result, demand took a tumble in 2022 and is expected to continue to fall through 2023. Volatile input prices also harmed operations during the period. The price and supply of semiconductors proved to be a massive roadblock throughout the period since these are the most critical input for audio and visual products. In line with several issues present during the period, audio and video equipment manufacturing revenue is expected to fall at a CAGR of 2.4% to $662.4 million over the five years to 2028, with a 5.9% decrease in 2023 alone, while profit will increase to 11.1%.Overall, a reversal of several harmful trends is anticipated to aid revenue growth. However, lingering high-interest rates can pose a serious threat to growth. Recently, the Bank of Canada announced that they would hold off on interest rate hikes for the foreseeable future and could potentially look to drop the rates through 2024. This decision does, however, hinge on economic performance, something that is currently uncertain. As a result, audio and video equipment manufacturing revenue is anticipated to increase at a marginal CAGR of 0.1% to $665.8 million over the five years to 2028, while profit will increase to 11.1%.
Industry revenue has declined at a CAGR of 2.4 % over the past five years, to reach an estimated $662.4m in 2023.
Market size is projected to grow over the next five years.
Company | Market Share (%)
2023 | Revenue ($m)
2023 | Profit ($m)
2023 | Profit Margin (%)
2023 |
---|---|---|---|---|
Paradigm Electronics Inc. | 18.7 | N/A | N/A |
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Audio & Video Equipment Manufacturing in Canada
Industry revenue is measured across several distinct product and services lines, including Speakers, Automotive and TVs and accessories. Speakers is the largest segment of the Audio & Video Equipment Manufacturing in Canada.
Multi-use speakers
The Audio and Video Equipment Manufacturing industry in Canada comprises manufacturers of electronic audio and video equipment for home entertainment systems, vehicles and public areas. This industry excludes manufacturers of photographic equipment and telephone answering machines.
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NAICS 334310 - Audio & Video Equipment Manufacturing in Canada
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Semiconductor supply remains a concern throughout the industry. Canada has begun taking action to become an independent producer of semiconductors, proposing a plan through 2...
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Mexico and the US are pivotal markets for Canadian manufacturers. Canadian-manufactured products are more expensive but are innovative and high-quality, leading to the indust...
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Location is crucial for companies. Both Ontario and Quebec offer massive downstream markets in the way of consumers.
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
Due to changes in customer demand, short product life cycles and intense competition, companies must regularly improve existing products and successfully develop and introduce...
Learn about the performance of the top companies in the industry.
Massive import competition makes consolidation within the industry very difficult; as a result, there are no prominent companies dominating the landscape in Canada.
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Microphones, loudspeakers and electric sound are subject to tariffs. Tariffs apply to components used in the assembly of some audio and video equipment like semiconductors.
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Manufacturers rely on human capital to manufacture products. Increasing automation of manufacturing processes will result in wages dropping.
Including values and annual change:
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Key data sources in Canada include:
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The market size of the Audio & Video Equipment Manufacturing industry in Canada is $662.4m in 2024.
There are 256 businesses in the Audio & Video Equipment Manufacturing industry in Canada, which has declined at a CAGR of 0.2 % between 2018 and 2023.
The market size of the Audio & Video Equipment Manufacturing industry in Canada has been declining at a CAGR of 2.4 % between 2018 and 2023.
Over the next five years, the Audio & Video Equipment Manufacturing industry in Canada is expected to grow.
The biggest company operating in the Audio & Video Equipment Manufacturing market in Canada is Paradigm Electronics Inc.
Manufacturing TV receivers and Manufacturing radio receivers are part of the Audio & Video Equipment Manufacturing industry.
The company holding the most market share in Canada is Paradigm Electronics Inc..
The level of competition is high and increasing in the Audio & Video Equipment Manufacturing industry in Canada.