Many of these units are built in North America so no cheap labour. These units are pretty much hand assembled and cannot be quickly mass produced either. It is a new market so the product life cycle is still at the expensive end.
Also, the cost for getting electrical devices approved by the various electric safety authorities is quite high (UL/CSA) which adds cost. These units are also shipped one at a time to people as many do not keep them in stock so shipping is high.
I do suspect that there is a good markup from cost happening too.
When Chinese manufacturers get geared up, the prices will come down a lot.
Also, the cost for getting electrical devices approved by the various electric safety authorities is quite high (UL/CSA) which adds cost. These units are also shipped one at a time to people as many do not keep them in stock so shipping is high.
I do suspect that there is a good markup from cost happening too.
When Chinese manufacturers get geared up, the prices will come down a lot.