North America Wiring Devices Market Size, Share, and Growth Forecast for 2024 - 2031

North America Wiring Devices Market Size and Share Analysis

The North America wiring devices market is estimated to reach a size of US$ 18.96 Bn in 2024. It is predicted to rise at a CAGR of 4.9% through the assessment period to reach a value of US$ 26.46 Bn by 2031.

Demand for wiring devices in North America is surging significantly because of the quick uptake of smart home technology and the rising number of house remodeling projects. With the most prominent market share, the U.S. is projected to remain at the forefront of growth.

The most common remodeling projects in North America are kitchen and bathroom renovations, accounting for 81% and 80% of all remodeling projects, respectively, with an average cost of US$ 7,500 per project. Other typical tasks include adding rooms (45%) and renovating the entire house (53%).

Leading companies like Honeywell, Hubbell, and Leviton are constantly adding energy-efficient and smart home-compatible wiring components to their product portfolios. New trends in the region suggest that consumers are becoming increasingly interested in high-tech goods.

Key Highlights of the Market

• Need for wiring equipment in commercial, industrial, and residential structures is rising due to constant infrastructure initiatives and rapid urbanization.
• Adoption of unique wiring devices is being driven by rapid developments in smart home technologies and energy-efficient solutions.
• Need for specialized wiring equipment is rising because of government regulations supporting renewable energy sources and smart city initiatives.
• Modern electrical systems and wiring equipment are required due to the building industry's rapid expansion in North America.
• In 2024, current carrying devices are estimated to attain a market share of 27.6% due to increased adoption of smart switches.
• Based on application, the residential segment is projected to account for a market share of 44.3% in 2024 backed by rising home renovation projects.
• Owing to rising home automation projects, the U.S. is estimated to attain a market share of 66.5% in 2024. 
• Canada is anticipated to hold a market share of 25.3% in 2024 with rapid developments in smart cities.

Market Attributes	Key Insights
Market Size (2024E)	US$ 18.96 Bn
Projected Market Value (2031F)	US$ 26.46 Bn
North America Market Growth Rate (CAGR 2024 to 2031)	4.9%
Historical Market Growth Rate (CAGR 2019 to 2023)	4%

Rising Adoption of Home Automation Solutions in the U.S. Drives Demand

The U.S. is anticipated to hold 66.5% of the North America wired device industry in 2024, mainly because of increasing home automation and remodeling initiatives.

• Home remodeling expenditure is likely to surpass US$ 500 Bn in 2023. Hence, there is a growing need for intelligent and energy-efficient electrical systems.

Key players such as Honeywell, Hubbell, and Leviton are capitalizing on this trend by introducing novel wiring devices tailored to modern needs.

• In February 2024, Hubbell launched industrial-grade smart switches for both home and business applications. These switches are intended for remote control and energy monitoring.
• In January 2024, Honeywell introduced its new smart outlets, emphasizing interoperability with popular smart home ecosystems like Amazon Alexa and Google Home, ensuring seamless user experiences.

The industry's dedication to offering effective, connected, and user-friendly smart home solutions is shown in real-time data-driven outlets. These are in line with sustainability objectives across the U.S.

Focus on Smart Cities to Create Novel Opportunities across Canada

Owing to government programs for smart city projects and urban growth, Canada is predicted to account for 25.3% of the North America wiring devices market share in 2024. High-capacity wire components are required by these programs to provide dependable, energy-efficient infrastructure. The ‘Smart Cities Challenge’ of the country’s government has provided funding for creative urban initiatives that prioritize cutting-edge electrical systems.

Firms like Schneider Electric Canada and Legrand Canada are launching high-performance switches and IoT-enabled wiring products for both residential and commercial use. At the same time, they are investing huge sums in research and development activities. Canada is positioned as a key participant in the market because it combines industry-led innovation and government-backed infrastructure initiatives.  

Current Carrying Devices Lead Amid Ongoing Integration of IoT

Category	Value Share in 2024
Product- Current Carrying Devices	27.6%

Current carrying devices such as switches, sockets, plugs, connectors, and other items are included in the product category. The dominance of switches, including rocker, dimmer, and toggle switches, can be attributed to their extensive use in electrical circuit regulation. In 2024, current carrying devices are anticipated to attain a market share of 27.6%.

The number of smart switches with Internet of Things (IoT) connectivity is also increasing, allowing for energy control and remote operation. As power outlets are found in residential, commercial, and industrial systems, sockets and plugs are in high demand.

Increasing use of equipment and electronic gadgets is predicted to fuel growth in the connectors business. Certain installation needs are met by other electrical devices, such as junction boxes and cable management systems, which is anticipated to push demand.

Residential Sector Demands Efficient Devices due to Rising Construction Activities

Category	Value Share in 2024
Application- Residential	44.3%

The residential segment is projected to hold a substantial market share of 44.3% in 2024. This anticipated growth is mainly fueled by surging residential construction activities across North America. These are further driven by ongoing urbanization and a significant increase in population.

As more individuals and families settle in urban areas, there is a burgeoning demand for home renovations aimed at enhancing living standards. This trend has generated a favorable environment for current-carrying wiring devices in the residential sector. Homeowners are set to seek modern solutions to improve both functionality and aesthetics in their living spaces.

North America Wiring Devices Market Introduction and Trend Analysis

The North America wiring devices market is rising significantly because of house remodeling and smart home technology. With key companies like Honeywell, Hubbell, and Leviton developing energy-efficient and smart home-compatible products, the U.S. dominates the region. Consumers are becoming increasingly interested in technologically sophisticated products, such as Honeywell's smart outlets and switches, which were introduced in 2023.

Technological developments, especially in smart outlets, plugs, and switches, are propelling expansion in the commercial, industrial, and residential sectors. Manufacturers like Leviton and Hubbell are drawn to key developments like wireless connection and IoT integration.

Historical Growth and Course Ahead

The North America wiring devices market recorded a CAGR of 4% in the historical period from 2019 to 2023. The market grew steadily because of the growing need for contemporary electrical infrastructure in several industries. Significant installations of outlets, switches, and circuit breakers were made in 2019 due to rapid building activities.

The market, however, was severely affected by the COVID-19 pandemic, which resulted in a decline in manufacturing and supply delays for raw materials. Nonetheless, growing popularity of remote work increased demand for home office configurations and upgrades to household electrical infrastructure.

Due to large investments in infrastructure expansion during the pandemic, the industry saw an increasing trend, which raised demand for outlets, power strips, and smart home appliances. Demand for wiring devices in North America is estimated to witness a steady CAGR of 4.9% during the forecast period between 2024 and 2031.

Market Growth Drivers

Development of Next Generation Wiring Devices to Push Demand

The need for wiring devices is rising in North America because of technological developments that prioritize connection, safety, and energy efficiency. This expansion in the residential, commercial, and industrial sectors is being driven by significant innovations in smart switches, outlets, and plugs. For instance,

• In April 2023, Honeywell introduced its next-generation IoT-enabled switches, which improved remote administration and energy monitoring functions.

The use of high-performance polymers and recyclable materials by firms such as Leviton and Hubbell is also improving the development of robust, effective devices. For example,

• Smart home technology was included in more than 65% of residential wiring installations in the U.S. in 2024.
• The need for automation systems in the business sector is rising, and in March 2023, Hubbell introduced smart outlets with built-in surge protection.
• Unique wiring devices are also being employed in the industrial sector. More than 40% of installations include IoT-enabled connections.

The market is changing because of increased focus on new production methods, sustainability, and IoT integration.

Rising Infrastructure Development in North America to Propel Demand

The need for wiring equipment, especially for contemporary electrical systems, is being driven by North America's rapid urbanization and infrastructural expansion.

• The foundation of infrastructures, switches, outlets, and connections are in high demand. Around 12 million dwelling units are under development in the U.S. and expenditures totaled US$ 1.6 Tn in 2023.
• Energy-efficient solutions are in high demand, especially in cities like Austin and New York that are concentrating on contemporary, sustainable electrical systems. This is owing to the U.S. Infrastructure Investment and Jobs Act, which allotted US$ 65 Bn in 2023 for smart grid innovations.

Manufacturers are responding to these needs with unique wiring solutions. For instance,

• In February 2024, Legrand introduced a series of smart outlets designed specifically for energy-efficient residential and commercial buildings. These offer real-time energy usage data and remote-control capabilities.
• Hubbell’s industrial-grade wiring systems launched in June 2023 have become essential in large-scale urban infrastructure projects. These help in providing high durability and enhanced safety features.

Due to the challenges posed by urbanization, modern electrical systems in North America are improving quality of life. These are also setting the stage for sustainable growth in the electrical infrastructure industry.

Market Restraining Factors

Economic Uncertainty and Volatility to Limit Growth

Economic uncertainty significantly impacts consumer purchasing power and investment decisions in North America wiring devices industry. Recessions or economic slowdowns reduce spending in residential and commercial construction, impacting demand for switches, outlets, and connectors. For example,

• In October 2023, U.S. residential construction spending fell by 7% year-over-year, stalling growth in sectors reliant on housing projects. Commercial projects also faced delays, exacerbating challenges for manufacturers of wiring devices.
• Inflation and currency fluctuations complicate the operational environment, with rising material costs for copper and plastics increasing production expenses by over 12% in 2024.

For businesses in the region that source resources abroad, exchange rate volatility has resulted in high product pricing and possible consumer deterrents. Economic constraints impede innovation and growth, as seen by the postponement of smart city initiatives and reduction in manufacturing by small firms. Leaders in the region adjust to government stimulus programs and cost-management techniques.

Key Market Opportunities

Integration of Smart Technologies to Foster Growth Avenues

Wiring equipment is being revolutionized by smart technology, which also improves energy economy, convenience, and usefulness. Electrical systems can be remotely monitored and controlled due to smart outlets, switches, and plugs that have wireless connections and Internet of Things capabilities. For instance,

• Introduced in August 2023, Leviton's Decora Smart switches provide automation and real-time energy tracking.

• The market is surging due to the rise in smart home adoption, with over 57% of homes in North America using at least one smart home device in 2024.

The need for sophisticated electrical systems has further increased amid the U.S. government's emphasis on sustainability and incentives for energy-efficient house improvements.

Development of Sustainable Practices Presents Opportunities

To lessen their influence on the environment, companies are embracing eco-friendly products and production techniques. Corporate sustainability objectives, customer preferences for eco-friendly products, and government constraints are estimated to offer novel growth prospects in North America.

In the wired device sector in North America, recyclable materials, energy-efficient designs, and waste-reduction techniques are becoming commonplace. High-performance cables use cutting-edge technology to provide more bandwidth, quick data rates, and superior energy efficiency.

In sectors like IT infrastructure, automotive, and telecommunications, manufacturers are concentrating on technologies that improve performance and durability. The wired device industry is likewise becoming increasingly concerned with sustainability in North America.

Competitive Landscape for the North America Wiring Devices Market

Key players in North America employ creative tactics to hold onto their positions and propel expansion in the field of cable protection sleeves. To increase their regional and global footprint, they prioritize customer-centric tactics, strategic alliances, and product development. Strong product portfolios, well-established distribution networks, a solid reputation as a brand, and robust research and development skills are some of the main benefits.

Industry participants are also investing in innovation, sustainability, and technical improvements. Hence, the market is anticipated to be dynamic and competitive over the long run.

Competition will likely increase because of new players entering the market, improvements in production techniques, and shifting customer tastes. To stay ahead of the competition, businesses are set to distinguish their products and adjust to shifting market conditions.

Recent Industry Developments

• In November 2024, ABB, based in Switzerland and Niedax Group formed Abnex Inc. They aim to offer cable tray solutions and services to North America’s electrical contractors, distributors, and systems integrators, integrating engineering and manufacturing capabilities.
• In September 2024, Tokyo-based Panasonic Connect introduced the Let's note FV4 enterprise laptop in the U.S. It offers novel computing, productivity, as well as a portable, secure form for professionals in various work environments.
• In July 2024, BSH Hausgeräte GmbH, based in Germany, marked a significant turning point in its expansion plan for North America by opening its first refrigeration factory in Mexico. 
• In September 2023, Legrand, based in France, partnered with Washington-based Microsoft to create Signature Microsoft Teams Rooms, a hybrid conferencing space. It provides immersive, inclusive experiences for both in-person and remote employees.

North America Wiring Devices Industry Report Scope

Attributes	Details
Forecast Period	2024 to 2031
Historical Data Available for	2019 to 2023
Market Analysis	US$ Billion for Value
Key Country Covered	U.S. Canada
Key Market Segments Covered	Product Application Country
Key Companies Profiled in the Report	Legrand Schneider Electric Eaton Corporation Leviton Manufacturing Co., Inc. Hubbell Incorporated Honeywell International Inc.  Lutron Electronics Co., Inc.  Orbit Industries Inc.  IPEX Electrical Inc.  Molex LEX Products
Report Coverage	Market Forecast and Trends Company Share Analysis Competitive Intelligence DROT Analysis Market Dynamics and Challenges Strategic Growth Initiatives
Customization and Pricing	Available upon request

North America Wiring Devices Industry Segmentation

By Product

• Current Carrying Devices
  • Receptacles
  • Electric Switches
  • Connectors
  • Others
• Non-current Carrying Devices
  • Faceplates
  • Electric Insulator
  • Conduit, Trunking, and Raceways
  • Others

• Circuit Protection Devices
  • Fuses
  • Circuit Breakers
  • Others

By Application

• Commercial
• Industrial
• Residential

By Country

• U.S.
• Canada 

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