Manufacturing Industry Research Report

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:
Milk bottling and pasteurizing;
Water bottling and processing;
Fresh fish packaging (oyster
shucking, fish filleting);
Apparel jobbing (assigning
materials to contract
factories or shops for
fabrication or other contract
operations) as well as
contracting on materials
owned by others;
Printing and related activities;
Ready-mix concrete production;
Source: U.S. Census Bureau

Manufacturing Market Size

This research report analyzes the market size and trends in the Manufacturing industry. It shows overall market size from 2020 to the present, and predicts industry growth through 2030. Revenues data include both public and private companies.

HistoricalForecasted
20202021202220232024202520262027202820292030
Market Size (Total Revenue)

Included in Report

% Growth Rate
Number of Companies
Total Employees
Average Revenue per Company
Average Employees per Company
Source: U.S. government financial data

Industry Revenue ($ Billions)

Industry Market Size
  • 2018
  • 2019
  • 2020
  • 2021
  • 2022
  • 2023
  • 2024

Industry Forecast ($ Billions)

Industry Market Size
  • 2024
  • 2025
  • 2026
  • 2027
  • 2028
  • 2029
  • 2030


Advanced econometric models forecast five years of industry growth based on short- and long-term trend analysis. Market size includes revenue generated from all products and services sold within the industry.

Geographic Breakdown by U.S. State

Market size by state reveals local opportunity through the number of companies located in the region. Each state's growth rate is affected by regional economic conditions. Data by state can be used to pinpoint profitable and nonprofitable locations for Manufacturing companies in the United States.

Industry Revenue by State [Sample]

Market Size by State

Distribution by Company Size

Company SizeAll IndustriesManufacturing
Small Business (< 5 Employees)

Included

Small Business (5 - 20)
Midsized Business (20 - 100)
Large Business (100 - 500)
Enterprise (> 500)

Industry Income Statement (Average Financial Metrics)

Financial statement analysis determines averages for the following industry forces:
  • Cost of goods sold
  • Compensation of officers
  • Salaries and wages
  • Employee benefit programs
  • Rent paid
  • Advertising and marketing budgets

The report includes a traditional income statement from an "average" Manufacturing company (both public and private companies are included).

Industry AveragePercent of Sales
Total Revenue

Included

Operating Revenue
Cost of Goods Sold (COGS)
Gross Profit
Operating Expenses
Operating Income
Non-Operating Income
Earnings Before Interest and Taxes (EBIT)
Interest Expense
Earnings Before Taxes
Income Tax
Net Profit


Average Income Statement

Average Income Statement

Cost of Goods Sold

Salaries, Wages, and Benefits

Rent

Advertising

Depreciation and Amortization

Officer Compensation

Net Income


Financial Ratio Analysis

Financial ratios allow a company's performance to be compared against that of its peers.

Financial RatioIndustry Average
Profitability Ratios

Included

Profit Margin
ROE
ROA
Liquidity Ratios
Current Ratio
Quick Ratio
Activity Ratios
Average Collection Period
Asset Turnover Ratio
Receivables Turnover Ratio
Inventory Conversion Ratio

Products and Services Mix

Product lines and services in the Manufacturing industry accounting for the largest revenue sources.

Product DescriptionDescriptionRevenue
($ Millions)

Al insulated wire & cable, made in Al rolling & drawing plants

Included

Iron and steel mills

Coke oven and blast furnace products, made in steel mills

Coke oven prods., coke (exc. screenings/breeze), steel mills

Coke oven products, screenings and breeze, steel mills

Coke oven products, crude tar, made in steel mills

Coke oven products, crude light oil, made in steel mills

Blast furnace pig iron (exc. ferroalloys), steel mills

Blast furnace slag, excluding ferroalloys, steel mills

Coke oven and blast furnace products, steel mills, nsk


Compensation and Salary Surveys

Salary information for employees working in the Manufacturing industry.

TitlePercent of WorkforceBottom QuartileAverage (Median) SalaryUpper Quartile
Management Occupations4%

Included

Chief Executives0%
General and Operations Managers1%
Operations Specialties Managers5%
Business and Financial Operations Occupations6%
Business Operations Specialists6%
Computer and Mathematical Occupations6%
Computer Occupations6%
Software Developers and Programmers9%
Software Developers, Applications11%
Software Developers, Systems Software10%
Computer Support Specialists5%
Architecture and Engineering Occupations5%
Engineers7%
Aerospace Engineers5%
Aerospace Engineers5%
Electrical and Electronics Engineers6%
Electronics Engineers, Except Computer5%
Drafters, Engineering Technicians, and Mapping Technicians6%
Engineering Technicians, Except Drafters5%
Sales and Related Occupations5%
Office and Administrative Support Occupations7%
Material Recording, Scheduling, Dispatching, and Distributing Workers6%
Construction and Extraction Occupations7%
Construction Trades Workers6%
Installation, Maintenance, and Repair Occupations10%
Other Installation, Maintenance, and Repair Occupations8%
Industrial Machinery Installation, Repair, and Maintenance Workers5%
Industrial Machinery Mechanics6%
Production Occupations58%
Supervisors of Production Workers6%
First-Line Supervisors of Production and Operating Workers6%
First-Line Supervisors of Production and Operating Workers6%
Assemblers and Fabricators10%
Aircraft Structure, Surfaces, Rigging, and Systems Assemblers8%
Aircraft Structure, Surfaces, Rigging, and Systems Assemblers8%
Electrical, Electronics, and Electromechanical Assemblers11%
Electrical, Electronic, and Electromechanical Assemblers, Except Coil Winders, Tapers, and Finishers11%
Engine and Other Machine Assemblers6%
Engine and Other Machine Assemblers6%
Structural Metal Fabricators and Fitters7%
Structural Metal Fabricators and Fitters7%
Miscellaneous Assemblers and Fabricators7%
Fiberglass Laminators and Fabricators6%
Assemblers and Fabricators, All Other, Including Team Assemblers7%
Metal Workers and Plastic Workers40%
Computer Control Programmers and Operators10%
Computer-Controlled Machine Tool Operators, Metal and Plastic8%
Forming Machine Setters, Operators, and Tenders, Metal and Plastic7%
Extruding and Drawing Machine Setters, Operators, and Tenders, Metal and Plastic7%
Rolling Machine Setters, Operators, and Tenders, Metal and Plastic7%
Machine Tool Cutting Setters, Operators, and Tenders, Metal and Plastic8%
Cutting, Punching, and Press Machine Setters, Operators, and Tenders, Metal and Plastic6%
Grinding, Lapping, Polishing, and Buffing Machine Tool Setters, Operators, and Tenders, Metal and Plastic6%
Lathe and Turning Machine Tool Setters, Operators, and Tenders, Metal and Plastic6%
Machinists9%
Machinists9%
Metal Furnace Operators, Tenders, Pourers, and Casters6%
Metal-Refining Furnace Operators and Tenders5%
Molders and Molding Machine Setters, Operators, and Tenders, Metal and Plastic7%
Foundry Mold and Coremakers9%
Molding, Coremaking, and Casting Machine Setters, Operators, and Tenders, Metal and Plastic10%
Tool and Die Makers9%
Tool and Die Makers9%
Welding, Soldering, and Brazing Workers8%
Welders, Cutters, Solderers, and Brazers7%
Welding, Soldering, and Brazing Machine Setters, Operators, and Tenders5%
Miscellaneous Metal Workers and Plastic Workers20%
Plating and Coating Machine Setters, Operators, and Tenders, Metal and Plastic15%
Textile, Apparel, and Furnishings Workers8%
Sewing Machine Operators10%
Sewing Machine Operators10%
Woodworkers27%
Cabinetmakers and Bench Carpenters18%
Cabinetmakers and Bench Carpenters18%
Woodworking Machine Setters, Operators, and Tenders7%
Woodworking Machine Setters, Operators, and Tenders, Except Sawing5%
Other Production Occupations11%
Inspectors, Testers, Sorters, Samplers, and Weighers6%
Inspectors, Testers, Sorters, Samplers, and Weighers6%
Jewelers and Precious Stone and Metal Workers29%
Jewelers and Precious Stone and Metal Workers29%
Medical, Dental, and Ophthalmic Laboratory Technicians8%
Dental Laboratory Technicians9%
Painting Workers11%
Coating, Painting, and Spraying Machine Setters, Operators, and Tenders11%
Semiconductor Processors6%
Semiconductor Processors6%
Miscellaneous Production Workers8%
Transportation and Material Moving Occupations8%
Material Moving Workers7%
Laborers and Material Movers, Hand6%

Government Contracts

The 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

CompanyAddressRevenue
($ Millions)

Included





Purchase Options
GeographyUnited States
Publication DateAugust 2025
Report FormatPDF Download  PDF
Price$750 $499
Report Objectives

For Private Equity Firms & Investors
  • Analyze unbiased statistics for the Manufacturing market
  • Review historical and forecasted growth trends
  • Benchmark companies against the industry average
For Business Executives
  • Develop a strategy based on concrete statistics
  • Identify opportunities based on market size and growth rates
For Startups
  • Get the information you need for the "Market Analysis" section of your business plan
  • Show market size in the U.S. and by state
For Venture Capital
  • Understand market opportunity and current size
  • Evaluate the market potential of a disruptive technology in the Manufacturing industry
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