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2024 U.S. Industry Statistics & Market Forecast - Turbine and Turbine Generator Set Units Manufacturing
Market Size & Industry Statistics
The total U.S. industry market size for Turbine and Turbine Generator Set Units 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 Turbine and Turbine Generator Set Units Manufacturing industry include:- Rising demand for renewable energy sources
- Shift towards more efficient and larger capacity turbines
- Increase in offshore wind farm installations
- Advancements in turbine technology, such as floating turbines
- Global emphasis on reducing carbon emissions
- Fluctuating raw material prices affecting production costs
- Expansion of nuclear power in Asia
- Integration of IoT and predictive maintenance in operations
- Growing demand for energy in developing countries
- Competition from alternative energy production technologies, like solar
- Trade policies and import-export restrictions impacting global supply chains
- Strengthened regulations and safety standards for equipment
- Market expansion in emerging economies like Africa and Latin America
- Increasing use of 3D printing for component manufacturing
- Partnerships and acquisitions to consolidate market presence and enhance technological capabilities
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 Turbine and Turbine Generator Set Units 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 Turbine and Turbine Generator Set Units 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 Turbine and Turbine Generator Set Units 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% | |||
| Architecture and Engineering Occupations | 15% | |||
| Engineers | 12% | |||
| Industrial Engineers, Including Health and Safety | 6% | |||
| Industrial Engineers | 6% | |||
| Office and Administrative Support Occupations | 7% | |||
| Installation, Maintenance, and Repair Occupations | 5% | |||
| Production Occupations | 50% | |||
| Assemblers and Fabricators | 17% | |||
| Engine and Other Machine Assemblers | 9% | |||
| Engine and Other Machine Assemblers | 9% | |||
| Miscellaneous Assemblers and Fabricators | 7% | |||
| Metal Workers and Plastic Workers | 19% | |||
| Machinists | 9% | |||
| Machinists | 9% | |||
| Other Production Occupations | 11% | |||
| Computer Numerically Controlled Tool Operators and Programmers | 6% | |||
| Computer Numerically Controlled Tool Operators | 6% | |||
Turbine and Turbine Generator Set Units Manufacturing Competitor Landscape & Key Companies [PREMIUM]
The most influential companies in the Turbine and Turbine Generator Set Units 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 Turbine and Turbine Generator Set Units 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 Turbine and Turbine Generator Set Units Manufacturing industry. |
Source:
Innovation News
- May 31, 2020: Turbine Resources trademarks "TURBINE RESOURCES INCORPORATED" - manufacture of gas and steam turbine components
- May 31, 2020: Canyon Industries trademarks "CANYON HYDRO" - TURBINES
- May 31, 2020: Turbine Resources trademarks "TURBINE RESOURCES INCORPORATED" - the repair of gas and steam turbine components
- Apr 26, 2018: Cei Acquisition Group raises $6 million in funding.
Recent Federal Contracts for Turbine and Turbine Generator Set Units Manufacturing
- Apr 02, 2024: SANFORD FEDERAL, INC. (Stafford, VA) awarded $31,295
- Mar 26, 2024: NATIVE ENERGY SOURCE, LLC (Tecumseh, OK) awarded $88,848
- Mar 25, 2024: FEDERON PROCUREMENT SOLUTIONS (Alexandria, VA) awarded $147,600
- Mar 14, 2024: GE RENEWABLES US LLC (Greenwood Village, CO) awarded $4,571,193
- Feb 28, 2024: CANYON INDUSTRIES, INC. (Deming, WA) awarded $378,304
- Feb 15, 2024: R & M GOVERNMENT SERVICES, INC. (Las Cruces, NM) awarded $829,175
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