Manufacturing - Market Size, Financial Statistics, Industry Trends
Industry Overview
The Sector as a Whole The Manufacturing sector comprises establishments engaged in the mechanical, physical, or chemical transformation of materials, substances, or components into new products. The assembling of component parts of manufactured products is considered manufacturing, except in cases where the activity is appropriately classified in Sector 23, Construction. Establishments in the Manufacturing sector are often described as plants, factories, or mills and characteristically use power-driven machines and material handling equipment. However, establishments that transform materials or substances into new products by hand or in the workers home and those engaged in selling to the general public products made on the same premises from which they are sold, such as bakeries, candy stores, and custom tailors, may also be included in this sector. Manufacturing establishments may process materials or may contract with other establishments to process their materials for them. Both types of establishments are included in manufacturing. Selected industries in the Manufacturing sector are comprised solely of establishments that process materials for other establishments on a contract or fee basis. Beyond these dedicated contract manufacturing industries, establishments that process materials for other establishments are generally classified in the Manufacturing industry of the processed materials. The materials, substances, or components transformed by manufacturing establishments are raw materials that are products of agriculture, forestry, fishing, mining, or quarrying as well as products of other manufacturing establishments. The materials used may be purchased directly from producers, obtained through customary trade channels, or secured without recourse to the market by transferring the product from one establishment to another, under the same ownership. The new product of a manufacturing establishment may be finished in the sense that it is ready for utilization or consumption, or it may be semi-finished to become an input for an establishment engaged in further manufacturing. For example, the product of the alumina refinery is the input used in the primary production of aluminum; primary aluminum is the input to an aluminum wire drawing plant; and aluminum wire is the input for a fabricated wire product manufacturing establishment. The subsectors in the Manufacturing sector generally reflect distinct production processes related to material inputs, production equipment, and employee skills. In the machinery area, where assembling is a key activity, parts and accessories for manufactured products are classified in the industry of the finished manufactured item when they are made for separate sale. For example, an attachment for a piece of metalworking machinery would be classified with metalworking machinery. However, component inputs from other manufacturing establishments are classified based on the production function of the component manufacturer. For example, electronic components are classified in Subsector 334, Computer and Electronic Product Manufacturing, and stampings are classified in Subsector 332, Fabricated Metal Product Manufacturing. Manufacturing establishments often perform one or more activities that are classified outside the Manufacturing sector of NAICS. For instance, almost all manufacturing has some captive research and development or administrative operations, such as accounting, payroll, or management. These captive services are treated the same as captive manufacturing activities. When the services are provided by separate establishments, they are classified in the NAICS sector where such services are primary, not in manufacturing. The boundaries of manufacturing and the other sectors of the classification system can be somewhat blurry. The establishments in the Manufacturing sector are engaged in the transformation of materials into new products. Their output is a new product. However, the definition of what constitutes a new product can be somewhat subjective. As clarification, the following activities are considered manufacturing in NAICS:
Manufacturing Market SizeThis report includes historical and forecasted market sizes and industry trends for Manufacturing. It reveals overall market dynamics from 2020 through the present, and predicts industry growth or shrinkage through 2030. Revenue data include both public and private companies in the Manufacturing industry.
Industry Revenue ($ Billions)
Industry Forecast ($ Billions)
Pell Research's advanced econometric models forecast five years of industry growth based on short- and long-term trend analysis. Market size statistics include revenue generated from all products and services sold within the Manufacturing industry. Geographic Breakdown by U.S. StateManufacturing market share by state pinpoints local opportunities based on regional revenue statistics. Growth rate for each state is affected by regional economic conditions. Data by state can be used to locate profitable and nonprofitable locations for Manufacturing companies in the United States.Industry Revenue by State [Sample]
Distribution by Company Size
Industry Income Statement (Average Financial Metrics)Financial statement analysis determines averages for the following industry forces:The report includes a traditional income statement from an "average" Manufacturing company (both public and private companies are included).
Average Income Statement
Cost of Goods Sold Salaries, Wages, and Benefits Rent Advertising Depreciation and Amortization Officer Compensation Net Income Financial Ratio AnalysisFinancial ratios allow a company's performance to be compared against that of its peers.
Products and Services MixProduct lines and services in the Manufacturing industry accounting for the largest revenue sources.
Compensation and Salary SurveysSalary information for employees working in the Manufacturing industry.
Government ContractsThe federal government spent an annual total of $140,666,537,332 on the Manufacturing industry. It has awarded 550,663 contracts to 58,445 companies, with an average value of $2,406,819 per company.Top Companies in Manufacturing and Adjacent Industries
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Report Objectives
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