North America Wiring Devices Market Set for 4.9% CAGR Growth Through 2031, Says Persistence Market Research

The North America wiring devices market is experiencing significant growth, bolstered by rising demand for smart home technologies, extensive remodeling activities, and government initiatives promoting sustainable infrastructure. As the region continues to modernize its buildings and homes with intelligent electrical solutions, companies like Honeywell, Leviton, and Hubbell are responding with innovative products tailored for connected living. Persistence Market Research projects the market will grow from US$ 18.96 billion in 2024 to US$ 26.46 billion by 2031, advancing at a steady CAGR of 4.9% through the forecast period.

At the forefront of this growth is the United States, accounting for an estimated 66.5% of the market share in 2024. This dominance stems from the nation's surge in home automation projects and high-volume remodeling initiatives. Meanwhile, Canada, holding a projected 25.3% share, is advancing due to smart city initiatives backed by federal support. The residential sector, particularly influenced by kitchen and bathroom renovations, leads the application landscape with a 44.3% share, while current carrying devices like smart switches dominate the product segment with 27.6% share in 2024.

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✅ Key Highlights from the Report

➤ Market to reach US$ 26.46 Bn by 2031, expanding at a CAGR of 4.9%.
➤ U.S. leads the regional market, driven by home automation and renovation trends.
➤ Residential segment dominates with 44.3% share in 2024 due to increased remodeling.
➤ Current carrying devices lead with a 27.6% share, owing to smart switch demand.
➤ Canada emerging as a smart city innovation hub with 25.3% market share.
➤ Key players are prioritizing smart, sustainable, and energy-efficient product designs.

✅ Market Segmentation

The North America wiring devices market is segmented by product type into current carrying devices, non-current carrying devices, and circuit protection devices. Current carrying devices, including smart switches, sockets, and connectors, account for the largest share. The integration of IoT-enabled systems, especially in smart homes, has driven the popularity of these devices. Non-current carrying components such as faceplates and electric insulators, while secondary in volume, play a vital role in safe and efficient installations.

In terms of application, the market is divided into residential, commercial, and industrial sectors. The residential segment leads the market, propelled by rapid urbanization and extensive home renovation activities. Commercial and industrial segments are also seeing a boost from infrastructure modernization projects and energy-efficient building initiatives across metropolitan hubs.

✅ Regional Insights

The United States remains the largest and most lucrative market for wiring devices in North America, contributing 66.5% of total revenue in 2024. This is largely due to increased spending on smart home technologies and energy-efficient upgrades across suburban and urban areas.

Canada, with a projected market share of 25.3%, is becoming a pivotal market driven by federal programs like the Smart Cities Challenge. This initiative supports the deployment of high-capacity, energy-efficient wiring systems for next-generation urban infrastructure.

✅ Market Drivers

Development of Smart and Sustainable Wiring Devices
The demand for intelligent wiring devices is growing as consumers and businesses shift toward energy-saving, remotely operated electrical systems. Companies such as Leviton and Honeywell have introduced IoT-integrated products that allow real-time energy monitoring and control, aligning with the shift toward sustainable urban infrastructure.

Rapid Urbanization and Infrastructure Investment
Major infrastructure initiatives across the U.S. and Canada are reshaping residential and commercial construction. With over US$ 1.6 trillion spent on housing and commercial projects in 2023 alone, the need for durable and intelligent wiring devices has never been higher. Legislative support, such as the Infrastructure Investment and Jobs Act, is fueling demand for grid modernization and smart buildings.

Surge in Home Remodeling Activities
Remodeling trends-especially in kitchens (81%) and bathrooms (80%)-have created a substantial demand for modern wiring systems. An average renovation cost of US$ 7,500 per project points to a preference for integrated, aesthetically pleasing, and efficient electrical solutions.

✅ Market Restraints

Economic Uncertainty and Investment Delays
Fluctuations in economic conditions, including inflation and raw material cost increases, have impacted construction spending and delayed project timelines. In 2023, residential construction spending in the U.S. dropped 7% year-over-year, curbing market momentum.

Supply Chain Disruptions and Material Costs
The cost of essential materials like copper and plastics surged by over 12% in 2024, directly impacting profit margins. Inconsistent supply chains and geopolitical factors have made sourcing components challenging, especially for smaller firms.

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✅ Market Opportunities

Growth of Smart Cities and Green Buildings
The proliferation of smart cities presents new opportunities. As municipalities invest in advanced electrical systems to support connectivity, demand for wiring devices compatible with IoT and energy-efficient standards continues to rise. Canada's urban growth, for instance, is prompting innovation in eco-friendly and connected wiring products.

Technological Innovations and IoT Integration
Manufacturers are focusing on automated, voice-controlled, and app-integrated devices. Leviton's Decora Smart line and Honeywell's Alexa-compatible outlets represent how real-time energy control is becoming mainstream. This trend aligns with consumer preferences for convenience, sustainability, and tech-driven living.

✅ Reasons to Buy the Report

✔ Detailed coverage of market drivers, restraints, and opportunities shaping the North America wiring devices industry.
✔ In-depth segmentation analysis by product, application, and region to support strategic planning.
✔ Market forecasts through 2031, including CAGR, market share, and revenue insights.
✔ Insights into key players' competitive strategies and recent innovations.
✔ Valuable analysis from Persistence Market Research to guide investment and growth decisions.

✅ Company Insights

✦ Honeywell International Inc.
✦ Leviton Manufacturing Co., Inc.
✦ Hubbell Incorporated
✦ Legrand
✦ Schneider Electric
✦ Eaton Corporation
✦ Lutron Electronics Co., Inc.
✦ Orbit Industries Inc.
✦ IPEX Electrical Inc.
✦ Molex
✦ LEX Products

✅ Recent Industry Developments

✦ In February 2024, Hubbell launched a range of industrial-grade smart switches optimized for energy monitoring and remote control.
✦ In January 2024, Honeywell unveiled smart outlets compatible with Amazon Alexa and Google Home, aiming to streamline smart home integration.
✦ In September 2023, Legrand partnered with Microsoft to develop Signature Microsoft Teams Rooms, enhancing hybrid workspaces.
✦ In November 2024, ABB and Niedax Group formed Abnex Inc., targeting North America's electrical infrastructure sector with cable tray solutions.

✅ North America Wiring Devices Market Outlook

The future of the North America wiring devices market appears robust, fueled by a strong focus on technological advancements, infrastructure investments, and sustainability. As more households and businesses integrate intelligent electrical systems, the demand for smart switches, energy-efficient outlets, and IoT-enabled devices will continue to climb.

Government support in the form of funding for urban development and smart cities, especially in Canada and major U.S. states, will create long-term avenues for growth. While challenges such as raw material cost volatility and supply disruptions remain, the industry's proactive focus on innovation, sustainability, and digitization is expected to unlock substantial market potential by 2031.

Backed by solid strategies, expanding R&D efforts, and smart product lines, key players are well-positioned to capitalize on these emerging trends and drive sustained value for stakeholders in the North America wiring devices market.

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About Persistence Market Research:

At Persistence Market Research, we specialize in creating research studies that serve as strategic tools for driving business growth. Established as a proprietary firm in 2012, we have evolved into a registered company in England and Wales in 2023 under the name Persistence Research & Consultancy Services Ltd. With a solid foundation, we have completed over 3600 custom and syndicate market research projects, and delivered more than 2700 projects for other leading market research companies' clients.

Our approach combines traditional market research methods with modern tools to offer comprehensive research solutions. With a decade of experience, we pride ourselves on deriving actionable insights from data to help businesses stay ahead of the competition. Our client base spans multinational corporations, leading consulting firms, investment funds, and government departments. A significant portion of our sales comes from repeat clients, a testament to the value and trust we've built over the years.

This release was published on openPR.