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Current State of the Industry | ||
Market Size (industry trends) | ||
Market Forecast (5-year projection) | ||
Products/Services Breakdown | ||
Revenue per State | ||
Financial Metrics | ||
Salary & Compensation Statistics | ||
Public Company Information | ||
Key Private Companies | ||
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2024 U.S. Industry Statistics & Market Forecast - Millwork (including Flooring)
Market Size & Industry Statistics
The total U.S. industry market size for Millwork (including Flooring):
Industry statistics cover all companies in the United States, both public and private, ranging in size from small businesses to market leaders.
In addition to revenue, the industry market analysis shows information on employees, companies, and average firm size.
Investors, banks, and business executives use growth rates and industry trends to understand the market outlook and opportunity.
Statistics | 2019 2020 2021 2022 2023 | |
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Market Size (Total Sales/Revenue) |
Order at top of page | |
Total Firms | ||
Total Employees | ||
Average Revenue Per Firm | ||
Average Employees Per Firm | ||
Average Revenue Per Employee |
Market Forecast
Market forecasts show the long term industry outlook and future growth trends. The following extended five-year forecast projects both short-term and long-term trends.
Forecast / Industry Outlook | 2024 | 2025 | 2026 | 2027 | 2028 | |
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Market Forecast ($ millions) | ||||||
Projected Industry Growth Rate (%) |
Industry Insights
The Millwork industry is seeing several key trends that are impacting its growth and profitability. One trend is the rising demand for sustainable and eco-friendly home furnishings, which is driving the development of eco-friendly materials and production practices. Consumers are increasingly seeking out furniture and home decor made from sustainable materials such as bamboo, reclaimed wood, and recycled plastic.Another key trend in the Millwork industry is the increasing use of automation and technology. The industry is exploring the use of robotics and automated machinery to streamline the manufacturing process and reduce labor costs. This trend is particularly evident in large-scale production facilities where manufacturers are seeking to optimize production efficiency.
The continued popularity of personalized and custom-made furnishings is also influencing the Millwork industry. Consumers are seeking furniture and home decor that reflect their individual tastes and styles. This trend is driving the development of new production technologies and design tools that allow manufacturers to create custom pieces with greater precision and efficiency.
Lastly, the Millwork industry is being shaped by the growing importance of e-commerce and digital marketing. As more consumers shop online, manufacturers are exploring ways to connect with customers through digital channels. This includes creating online showrooms, leveraging social media and influencer marketing, and developing digital tools that allow customers to visualize custom designs and configurations before placing an order.
U.S. Geographic Distribution: Revenue Statistics by State
Market Size by State ($ millions) indicates how the industry's competition is distributed throughout the country. State-level information can identify areas with higher and lower industry market share than average.Income Statement (Average Financial Metrics)
Financial metrics provide a snapshot view of a benchmark "average" company. Key business metrics show revenue and operating costs. The data collected covers both public and private companies.Industry Average | Percent of Sales (Industry Benchmark) | |
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Total Revenue | Order at top of page |
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Operating Revenue | ||
Cost of Goods Sold | ||
Gross Profit | ||
Operating Expenses | ||
Pension, profit sharing plans, stock, annuity | ||
Repairs | ||
Rent paid on business property | ||
Charitable Contributions | ||
Depletion | ||
Domestic production activities deduction | ||
Advertising | ||
Compensation of officers | ||
Salaries and wages | ||
Employee benefit programs | ||
Taxes and Licenses | ||
Bad Debts | ||
Depreciation | ||
Amortization | ||
Other Operating Expenses | ||
Total Operating Expenses | ||
Operating Income | ||
Non-Operating Income | ||
EBIT (Earnings Before Interest and Taxes) | ||
Interest Expense | ||
Earnings Before Taxes | ||
Income Tax | ||
Net Profit Net Income | ||
Financial Ratio Analysis
Financial ratio information can be used to benchmark how a Millwork (including Flooring) company compares to its peers. Accounting statistics are calculated from the industry-average for income statements and balance sheets.Profitability & Valuation Ratios | Industry Average |
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Company valuation can be measured based on the firm's own performance, as well as in comparison against its industry competitors. These metrics show how the average company in the Millwork (including Flooring) industry is performing. | |
Profit Margin Gross Profit Margin, Operating Profit Margin, and Net Profit Margin. Show company earnings relative to revenues. |
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Return on Equity (ROE) Return on Equity (ROE) is net income as a percentage of shareholders' equity. Shareholders' Equity is defined as the company's total assets minus total liabilities. ROE shows how much profits a company generates with the money shareholders invested (or with retained earnings). |
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Return on Assets (ROA) Return on Assets (ROA) is net income relative to total assets. The market research on Millwork (including Flooring) measures how efficiently the company leverages its assets to generate profit. ROA is calculated as Net Income divided by Total Assets. |
Liquidity Ratios | Industry Average |
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Bankers and suppliers use liquidity to determine creditworthiness and identify potential threats to a company's financial viability. | |
Current Ratio Measures a firm's ability to pay its debts over the next 12 months. |
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Quick Ratio (Acid Test) Calculates liquid assets relative to liabilities, excluding inventories. |
Efficiency Ratios - Key Performance Indicators | Industry Average |
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Measure how quickly products and services sell, and effectively collections policies are implemented. | |
Receivables Turnover Ratio If this number is low in your business when compared to the industry average in the research report, it may mean your payment terms are too lenient or that you are not doing a good enough job on collections. |
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Average Collection Period Based on the Receivables Turnover, this estimates the collection period in days. Calculated as 365 divided by the Receivables Turnover |
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Inventory Turnover A low turnover rate may point to overstocking, obsolescence, or deficiencies in the product line or marketing effort. |
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Fixed-Asset Turnover Generally, higher is better, since it indicates the business has less money tied up in fixed assets for each dollar of sales revenue. |
Compensation & Salary Surveys for Employees
Compensation statistics provides an accurate assessment of industry-specific jobs and national salary averages. This information can be used to identify which positions are most common, and high, low, and average annual wages.Title | Percent of Workforce | Bottom Quartile | Average (Median) Salary | Upper Quartile |
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Management Occupations | 4% | Order at top of page |
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Chief Executives | 0% | |||
General and Operations Managers | 2% | |||
Office and Administrative Support Occupations | 7% | |||
Construction and Extraction Occupations | 7% | |||
Construction Trades Workers | 7% | |||
Production Occupations | 52% | |||
Assemblers and Fabricators | 20% | |||
Miscellaneous Assemblers and Fabricators | 20% | |||
Woodworkers | 21% | |||
Woodworking Machine Setters, Operators, and Tenders | 16% | |||
Sawing Machine Setters, Operators, and Tenders, Wood | 5% | |||
Woodworking Machine Setters, Operators, and Tenders, Except Sawing | 11% | |||
Other Production Occupations | 6% | |||
Transportation and Material Moving Occupations | 16% | |||
Material Moving Workers | 13% | |||
Laborers and Material Movers | 8% | |||
Laborers and Freight, Stock, and Material Movers, Hand | 6% |
Millwork (including Flooring) Competitor Landscape & Key Companies [PREMIUM]
The most influential companies in the Millwork (including Flooring) industry and adjacent industries either have large market share or are developing new business models and methods that could disrupt the status quo. We look at leading and emerging companies in the Millwork (including Flooring) industry and adjacent sectors:Market Leaders: Direct Competitors Companies with the largest market share, focused in this industry |
Market leaders: Diversified Competitors Largest companies that have diversified operations in this and other industries |
Innovators: Direct Competitors Innovative, Emerging, and Disruptive Companies that may influence the future direction of the industry. |
Innovators: Diversified Competitors Innovators and Disruptors in adjacent industries that may also affect the Millwork (including Flooring) industry. |
Source:
Innovation News
- Jan 29, 2024: CHDW Holdings trademarks "CLARK HALL DOORS & WINDOWS" - Custom manufacture of doors and windows
- Jan 29, 2024: CHDW Holdings trademarks "CLARK HALL DOORS" - Custom manufacture of doors and windows
- Aug 24, 2023: Cooper Group patents Historically Accurate Simulated Divided Light Glass Unit And Methods Of Making The Same
- Jul 14, 2023: Complete Framer's Supply trademarks "COMPLETE FRAMER'S SUPPLY" - Picture frame brackets; Picture frames; Picture and photograph frames; Moldings for picture frames; Mouldings for picture frames; Picture frame moldings; Picture frame mouldings
- May 23, 2019: Renlita Doors North America patents Safety Brake For Vertical Lifting Doors
- Sep 04, 2014: Parquet BY Dian patents Method For Preparing A Composite Membrane/wood Floor Diaphragm
Recent Federal Contracts for Millwork (including Flooring)- Mar 26, 2024: FIRST AMERICAN FEDERAL CONTRACTING LLC (Dover, DE) awarded $16,627
- Mar 01, 2024: GALLUP LUMBER & SUPPLY CO INC (Gallup, NM) awarded $60,000
- Feb 29, 2024: KAGE LLC (Gallup, NM) awarded $30,000
- Feb 27, 2024: LONSEAL INCORPORATED (Carson, CA) awarded $7,045
- Feb 09, 2024: D CARTER CONSULTING LLC (Auburn, AL) awarded $41,180
- Feb 02, 2024: TOTAL SECURITY SOLUTIONS INC (Fowlerville, MI) awarded $23,843
- Mar 26, 2024: FIRST AMERICAN FEDERAL CONTRACTING LLC (Dover, DE) awarded $16,627
- Mar 01, 2024: GALLUP LUMBER & SUPPLY CO INC (Gallup, NM) awarded $60,000
- Feb 29, 2024: KAGE LLC (Gallup, NM) awarded $30,000
- Feb 27, 2024: LONSEAL INCORPORATED (Carson, CA) awarded $7,045
- Feb 09, 2024: D CARTER CONSULTING LLC (Auburn, AL) awarded $41,180
- Feb 02, 2024: TOTAL SECURITY SOLUTIONS INC (Fowlerville, MI) awarded $23,843
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