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2024 U.S. Industry Statistics & Market Forecast - Switchgear and Switchboard Apparatus Manufacturing
Market Size & Industry Statistics
The total U.S. industry market size for Switchgear and Switchboard Apparatus 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 Switchgear and Switchboard Apparatus Manufacturing industry include:- Increased demand for energy-efficient systems
- Shift towards renewable energy sources
- Integration of smart grid technology
- Stringent environmental regulations
- Advancements in switchgear technology
- Growth in industrial and construction sectors
- Expansion of power distribution networks
- Rise in automation and digitalization
- Increased investments in infrastructure upgrades
- Growing emphasis on electrical safety and reliability
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 Switchgear and Switchboard Apparatus 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 Switchgear and Switchboard Apparatus 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 Switchgear and Switchboard Apparatus 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 |
||
| Chief Executives | 0% | |||
| General and Operations Managers | 2% | |||
| Business and Financial Operations Occupations | 6% | |||
| Business Operations Specialists | 5% | |||
| Architecture and Engineering Occupations | 13% | |||
| Engineers | 9% | |||
| Office and Administrative Support Occupations | 7% | |||
| Production Occupations | 50% | |||
| Assemblers and Fabricators | 32% | |||
| Electrical, Electronics, and Electromechanical Assemblers | 22% | |||
| Electrical, Electronic, and Electromechanical Assemblers, Except Coil Winders, Tapers, and Finishers | 20% | |||
| Miscellaneous Assemblers and Fabricators | 8% | |||
| Metal Workers and Plastic Workers | 8% | |||
| Other Production Occupations | 7% | |||
Switchgear and Switchboard Apparatus Manufacturing Competitor Landscape & Key Companies [PREMIUM]
The most influential companies in the Switchgear and Switchboard Apparatus 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 Switchgear and Switchboard Apparatus 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 Switchgear and Switchboard Apparatus Manufacturing industry. |
Source:
Innovation News
- Dec 07, 2023: Atom Power trademarks "ATOM INSIGHT" - Recorded computer software platforms for configuration and management of electronic vehicle charging stations
- Sep 07, 2023: Atom Power patents Smart Circuit System For An Electric Vehicle Charging System
- Jun 29, 2023: Atom Power patents Electric Vehicle Charging System And Method
- Jun 23, 2023: Atom Power trademarks "OFF-THE-GROUND" - Charging stations for electric vehicles
- Jun 07, 2023: Atom Power trademarks "ATOM INSIGHT" - Pre-installed software for controlling solid-state circuit breakers and sold as a component of electrical distribution panels
- Aug 17, 2022: Atom Power raises $111 million in funding.
- Mar 04, 2021: Atom Power patents Solid-state Circuit Breaker With Self-diagnostic, Self-maintenance, And Self-protection Capabilities
- Jun 02, 2020: Atom Power raises $18 million in funding.
- Nov 01, 2017: Atom Power raises $3 million in funding.
Recent Federal Contracts for Switchgear and Switchboard Apparatus Manufacturing
- Apr 01, 2024: G & RK CONSULTING ASSOCIATES LLC (Littleton, CO) awarded $814,302
- Apr 01, 2024: S & C ELECTRIC COMPANY (Chicago, IL) awarded $3,800
- Apr 01, 2024: THE BUILDING PEOPLE LLC (Leesburg, VA) awarded $1,535,489
- Mar 27, 2024: MISCELLANEOUS FOREIGN AWARDEES (Washington, DC) awarded $16,834
- Mar 27, 2024: THE COLLINS ELECTRIC COMPANY, INC. (Chicopee, MA) awarded $38,208
- Mar 24, 2024: SHEPHERD ELECTRIC COMPANY, INCORPORATED (Rosedale, MD) awarded $29,750
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