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2024 U.S. Industry Statistics & Market Forecast - Fabricated Metal Product Manufacturing
Market Size & Industry Statistics
The total U.S. industry market size for Fabricated Metal Product Manufacturing:
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 | |
|---|---|---|
| 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 |
|---|---|---|---|---|---|
| Market Forecast ($ millions) | |||||
| Projected Industry Growth Rate (%) | |||||
Industry Insights
Major trends affect the Fabricated Metal Product Manufacturing industry include:- Increased automation and robotics adoption
- Integration of 3D printing technologies
- Growing emphasis on sustainable and green manufacturing practices
- Rising raw material costs
- Shift towards advanced materials like lightweight alloys
- Increased demand for customized and precision products
- Global supply chain complexities
- Expansion in aerospace and defense sectors
- Enhanced regulatory compliance and safety standards
- Growing importance of Industry 4.0 and smart factory initiatives
- Rising labor costs and skilled labor shortages
- Increasing competition from low-cost imports
- Expansion of services offering (like maintenance and repair)
- Adoption of advanced manufacturing techniques and technologies
- Impact of economic fluctuations on capital investment decisions
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 Fabricated Metal Product Manufacturing company compares to its peers. Accounting statistics are calculated from the industry-average for income statements and balance sheets.| Profitability & Valuation Ratios | Industry Average |
|---|---|
| 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 Fabricated Metal Product Manufacturing industry is performing. | |
| Profit Margin Gross Profit Margin, Operating Profit Margin, and Net Profit Margin. Show company earnings relative to revenues. |
|
| 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). |
|
| Return on Assets (ROA) Return on Assets (ROA) is net income relative to total assets. The market research on Fabricated Metal Product Manufacturing measures how efficiently the company leverages its assets to generate profit. ROA is calculated as Net Income divided by Total Assets. |
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| Liquidity Ratios | Industry Average |
|---|---|
| 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. |
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| Efficiency Ratios - Key Performance Indicators | Industry Average |
|---|---|
| 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. |
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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 |
|---|---|---|---|---|
| Management Occupations | 6% | Order at top of page |
||
| Chief Executives | 0% | |||
| General and Operations Managers | 3% | |||
| Business and Financial Operations Occupations | 5% | |||
| Architecture and Engineering Occupations | 6% | |||
| Office and Administrative Support Occupations | 9% | |||
| Construction and Extraction Occupations | 7% | |||
| Construction Trades Workers | 6% | |||
| Production Occupations | 59% | |||
| Supervisors of Production Workers | 6% | |||
| First-Line Supervisors of Production and Operating Workers | 6% | |||
| First-Line Supervisors of Production and Operating Workers | 6% | |||
| Assemblers and Fabricators | 11% | |||
| Structural Metal Fabricators and Fitters | 5% | |||
| Structural Metal Fabricators and Fitters | 5% | |||
| Miscellaneous Assemblers and Fabricators | 8% | |||
| Metal Workers and Plastic Workers | 29% | |||
| Machine Tool Cutting Setters, Operators, and Tenders, Metal and Plastic | 7% | |||
| Cutting, Punching, and Press Machine Setters, Operators, and Tenders, Metal and Plastic | 6% | |||
| Lathe and Turning Machine Tool Setters, Operators, and Tenders, Metal and Plastic | 5% | |||
| Machinists | 8% | |||
| Machinists | 8% | |||
| Welding, Soldering, and Brazing Workers | 8% | |||
| Welders, Cutters, Solderers, and Brazers | 8% | |||
| Miscellaneous Metal Workers and Plastic Workers | 18% | |||
| Plating Machine Setters, Operators, and Tenders, Metal and Plastic | 15% | |||
| Other Production Occupations | 14% | |||
| Inspectors, Testers, Sorters, Samplers, and Weighers | 6% | |||
| Inspectors, Testers, Sorters, Samplers, and Weighers | 6% | |||
| Painting Workers | 12% | |||
| Coating, Painting, and Spraying Machine Setters, Operators, and Tenders | 11% | |||
| Computer Numerically Controlled Tool Operators and Programmers | 5% | |||
| Computer Numerically Controlled Tool Operators | 11% | |||
| Miscellaneous Production Workers | 6% | |||
| Transportation and Material Moving Occupations | 6% | |||
| Material Moving Workers | 5% | |||
| Laborers and Material Movers | 8% | |||
| Laborers and Freight, Stock, and Material Movers, Hand | 5% | |||
Fabricated Metal Product Manufacturing Competitor Landscape & Key Companies [PREMIUM]
The most influential companies in the Fabricated Metal Product Manufacturing 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 Fabricated Metal Product Manufacturing 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 Fabricated Metal Product Manufacturing industry. |
Source:
Innovation News
- Jun 13, 2024: Illinois Tool Works patents Brightness And Contrast Correction For Video Extensometer Systems And Methods
- Jun 13, 2024: Illinois Tool Works patents Weighing System And Method For Refillable Containers
- Jun 13, 2024: Illinois Tool Works patents Gas-operated Fixing Tool And Method Of Operating It
- Jan 31, 2024: Wayne Fueling Systems trademarks "DX PROMOTE AUTO" - Software as a Service (SaaS) services featuring software for transmitting advertising to and managing advertising on fuel dispensers; Software as a Service (SaaS) services featuring software for displaying advertisements
- Jan 30, 2024: LockState raises $7 million in funding.
- Jan 30, 2024: QCC trademarks "" - Custom manufacturing of complete products and machined components for others; Machine shop services
- Jan 29, 2024: Metal Rollforming Systems trademarks "MRS" - Cutting machines; Rolling machines for rolling metals; Stacking machines; Machines and machine tools for the cutting and forming of materials; Metal forming machines
- Oct 13, 2023: Nyle Systems raises $2 million in funding.
- Oct 04, 2023: Machina Labs raises $32 million in funding.
Recent Federal Contracts for Fabricated Metal Product Manufacturing
- Apr 02, 2024: HAMILTON PRODUCTS GROUP, INC. (Milford, OH) awarded $8,629
- Apr 02, 2024: MONO MACHINES LLC (New York, NY) awarded $1,404
- Apr 02, 2024: INTERNATIONAL TELEVISION CORP (Long Beach, CA) awarded $109,650
- Apr 02, 2024: PRO BUY SOLUTIONS, LLC (Ambler, PA) awarded $1,333
- Apr 02, 2024: PREMIER & COMPANIES, INC. (Secaucus, NJ) awarded $1,648
- Apr 02, 2024: ENERGY BY NATIVE AMERICAN DESIGN CORP. (Parker, AZ) awarded $21,954
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