DISC’s original 2023 forecast was a slight recession as FED interest rate hikes tapped the economic breaks and slowed inflation. We were wrong. Overall American economic resilience, combined with the CARES and CHIPS acts, provided enough fuel to beat our expectation. 2023, while not a robust year, was reasonable.
Depending on your primary vertical and geography you experienced a mixed bag of performance. Our current expectation is to finish the 2023 year up +1.4% over 2022, even with industry prices falling -2% on a year-over-year (YOY) basis. Moving towards 2024 and exiting 2023, the overall mood is one of uncertain cautiousness. We see the electrical distribution market as closing 2023 at $137.4 billion, and the 2024 year to be slightly behind 2023 at $135.2 billion.
DISC Corp. will help you answer the four most important questions you will need to answer when building your company’s annual strategic market plan:
- What is the Size of My Market?
- What’s My Market Share?
- What Part of the Market Am I Missing?
- Am I Adequately Resourced
Contact Chris Sokoll, president, DISC Corp., for information on the data for your markets of interest at [email protected] / (346) 339-7528.