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2024 U.S. Industry Statistics & Market Forecast - Steel Product Manufacturing from Purchased Steel
Market Size & Industry Statistics
The total U.S. industry market size for Steel Product Manufacturing from Purchased Steel:
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 Steel Product Manufacturing from Purchased Steel industry include:- Increased import competition
- Rising raw material costs
- Energy efficiency and sustainability initiatives
- Adoption of advanced manufacturing technologies
- Market volatility and economic cycles
- Shift towards lightweight and high-strength steel products
- Growth in automotive and construction sectors
- Recycling and environmental regulations
- Trade policies and tariffs
- Localization of supply chains
- Impact of global pandemics
- Demand for customized steel solutions
- Integration of IoT and data analytics in production processes
- Increasing labor costs and skill shortages
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 Steel Product Manufacturing from Purchased Steel 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 Steel Product Manufacturing from Purchased Steel 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 Steel Product Manufacturing from Purchased Steel 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 | 2% | |||
| Office and Administrative Support Occupations | 8% | |||
| Installation, Maintenance, and Repair Occupations | 7% | |||
| Other Installation, Maintenance, and Repair Occupations | 6% | |||
| Production Occupations | 56% | |||
| Supervisors of Production Workers | 6% | |||
| First-Line Supervisors of Production and Operating Workers | 6% | |||
| First-Line Supervisors of Production and Operating Workers | 6% | |||
| Metal Workers and Plastic Workers | 38% | |||
| Forming Machine Setters, Operators, and Tenders, Metal and Plastic | 10% | |||
| Rolling Machine Setters, Operators, and Tenders, Metal and Plastic | 5% | |||
| Machine Tool Cutting Setters, Operators, and Tenders, Metal and Plastic | 11% | |||
| Cutting, Punching, and Press Machine Setters, Operators, and Tenders, Metal and Plastic | 8% | |||
| Multiple Machine Tool Setters, Operators, and Tenders, Metal and Plastic | 6% | |||
| Multiple Machine Tool Setters, Operators, and Tenders, Metal and Plastic | 6% | |||
| Welding, Soldering, and Brazing Workers | 6% | |||
| Welders, Cutters, Solderers, and Brazers | 6% | |||
| Other Production Occupations | 8% | |||
| Transportation and Material Moving Occupations | 9% | |||
| Material Moving Workers | 8% | |||
Steel Product Manufacturing from Purchased Steel Competitor Landscape & Key Companies [PREMIUM]
The most influential companies in the Steel Product Manufacturing from Purchased Steel 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 Steel Product Manufacturing from Purchased Steel 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 Steel Product Manufacturing from Purchased Steel industry. |
Source:
Innovation News
- Jun 13, 2024: Cemco patents Wall Gap Fire Block Device, System And Method
- Jun 06, 2024: Helios Technologies patents Support And Preventative Maintenance Of Internet Of Things Devices
- Jun 06, 2024: Helios Technologies patents Support And Preventative Maintenance Of Internet Of Things Devices
- Jan 17, 2024: Krowne Metal trademarks "MOVEWELL" - BARTENDER'S WORK CENTER HAVING MOVEABLE PARTS TO ALLOW BARTENDERS TO MOVE AND SET UP THEIR BARTENDING WORKSTATION DEPENDING ON THEIR PREFERENCE AND/OR DOMINANT HAND, AND CONSISTING OF A GLASS RINSER FOR GLASS CLEANING, A KITCHEN SINK SPRAYER, A BOTTLE STORAGE IN THE NATURE OF A COMPARTMENT WITH DIVIDERS, A GARNISH SECTION IN THE NATURE OF A COMPARTMENT HAVING DIFFERENT CUPS FOR HOLDING GARNISH, A CUTTING BOARD, A MARGARITA RIMMER FOR HOLDING LIME JUICE AND SALT, A DRAINBOARD, AN ICE STORAGE, AND A MIXOLOGY STATION DIPPER WELL WITH BASKETS FOR HOLDING BAR TOOL ACCESSORIES, ALL SOLD TOGETHER AS A UNIT OR SEPARATELY
- Jan 11, 2024: Clopay trademarks "CLOPAY MASTER AUTHORIZED DEALER" - Retail and online retail store services featuring metal and non-metal garage doors sold through authorized dealers
- Jan 11, 2024: Clopay trademarks "CLOPAY MASTER AUTHORIZED DEALER" - Retail and online retail store services featuring metal and non-metal garage doors sold through authorized dealers
- Jul 14, 2010: Flack Steel raises $1 million in funding.
Recent Federal Contracts for Steel Product Manufacturing from Purchased Steel
- Apr 02, 2024: PREMIER & COMPANIES, INC. (Secaucus, NJ) awarded $1,990
- Apr 02, 2024: MINTON SUPPLY CO (Macon, GA) awarded $1,375
- Apr 02, 2024: METAL CULVERTS, INC. (Jefferson City, MO) awarded $60,000
- Mar 27, 2024: BPS SUPPLY GROUP (Shafter, CA) awarded $20,328
- Mar 15, 2024: GALVANIZERS, INC. (West Fargo, ND) awarded $13,940
- Mar 01, 2024: MISCELLANEOUS FOREIGN AWARDEES (Washington, DC) awarded $50,364
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