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2024 U.S. Industry Statistics & Market Forecast - Gasket, Packing, and Sealing Device Manufacturing
Market Size & Industry Statistics
The total U.S. industry market size for Gasket, Packing, and Sealing Device 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 Gasket, Packing, and Sealing Device Manufacturing industry include:- Increased demand in automotive and aerospace sectors
- Rising raw material costs
- Enhanced focus on sustainability and eco-friendly materials
- Technological advancements in production techniques
- Growth in emerging markets
- Stringent environmental and safety regulations
- Shift towards renewable energy sources
- Increased adoption of e-commerce sales channels
- Consolidation of manufacturers and supply chain optimization
- Advancements in material science and engineering
- Rising competition from low-cost nations
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 Gasket, Packing, and Sealing Device 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 Gasket, Packing, and Sealing Device Manufacturing 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 Gasket, Packing, and Sealing Device 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 | 8% | Order at top of page |
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| Chief Executives | 0% | |||
| General and Operations Managers | 4% | |||
| Business and Financial Operations Occupations | 5% | |||
| Sales and Related Occupations | 6% | |||
| Office and Administrative Support Occupations | 13% | |||
| Installation, Maintenance, and Repair Occupations | 5% | |||
| Production Occupations | 47% | |||
| Assemblers and Fabricators | 18% | |||
| Miscellaneous Assemblers and Fabricators | 16% | |||
| Metal Workers and Plastic Workers | 8% | |||
| Other Production Occupations | 14% | |||
| Transportation and Material Moving Occupations | 6% | |||
Gasket, Packing, and Sealing Device Manufacturing Competitor Landscape & Key Companies [PREMIUM]
The most influential companies in the Gasket, Packing, and Sealing Device 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 Gasket, Packing, and Sealing Device 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 Gasket, Packing, and Sealing Device Manufacturing industry. |
Source:
Innovation News
- Nov 03, 2023: Clark Seals trademarks "KEVLON" - Thermoplastic elastomeric resins molded in the form of finished seal rings
- Oct 19, 2023: Master Packing & Rubber trademarks "CREATING SOLUTIONS AND PROVIDING RESULTS" - Gasket material in sheets for use in industrial process plant, rail and marine engines; Graphite packing for pumps, gaskets and valves; Sealing and insulating materials; Non-metal gaskets for industrial process plant, rail and marine engines; Non-metal sealing rings for use as connection seals; Non-metal seals for use in rail and marine engines; Pipe gaskets; Pipe gaskets for industrial process plant, rail and marine engines pipe; Rings of rubber for use as pipe connection seals; Sheets of graphite-based material for use as gaskets, seals, packings, and heat insulators
- Feb 07, 2023: Legacy Manufacturing trademarks "ACCURATE" - Metal weatherstrips for buildings
- Mar 18, 2010: Polymer Concepts Technologies PBY patents Seal For Flexible Air Duct
- Mar 04, 2010: New England Die Cutting patents Grommet And Method Of Production
- Jun 04, 2009: New England Die Cutting patents Cover Assembly
Recent Federal Contracts for Gasket, Packing, and Sealing Device Manufacturing
- Apr 01, 2024: WARTSILA DEFENSE, INC. (Chesapeake, VA) awarded $47,496
- Mar 25, 2024: MISCELLANEOUS FOREIGN AWARDEES (Washington, DC) awarded $16,760
- Mar 21, 2024: DURAMAX MARINE, LLC (Hiram, OH) awarded $133,500
- Mar 13, 2024: AVIATION DEVICES AND ELECTRONIC COMPONENTS, L.L.C. (Fort Worth, TX) awarded $4,467
- Feb 21, 2024: ALLIED DEFENSE INDUSTRIES, LLC (Kearneysville, WV) awarded $90,725
- Feb 15, 2024: SEAHORSE DEFENSE SUPPLY, LLC (Lilburn, GA) awarded $20,397
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