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2024 U.S. Industry Statistics & Market Forecast - Rubber and Plastics Hoses and Belting Manufacturing
Market Size & Industry Statistics
The total U.S. industry market size for Rubber and Plastics Hoses and Belting 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
The hose and belt manufacturing industry is undergoing several key trends that are shaping its trajectory. One of the most significant trends is the increasing demand for environmentally friendly and sustainable products. As consumers become more conscious of the impact of their purchasing decisions, they are seeking out products that are made from sustainable materials and manufactured using sustainable processes. This trend is driving innovation in the industry, with manufacturers developing new materials and production methods that are more sustainable and eco-friendly.Another important trend in the industry is the increasing adoption of automation and robotics. Advances in automation technology are enabling manufacturers to produce hoses and belts more efficiently and with higher precision, while also reducing costs and improving product quality. This is particularly important as the industry faces increasing competition from low-cost producers in other regions of the world.
The industry is also seeing a shift towards more specialized products and niche markets. Manufacturers are developing hoses and belts that are tailored to specific applications and industries, such as the automotive, aerospace, and medical sectors. This trend is driven by the increasing complexity and sophistication of these industries, which require highly specialized products that meet strict performance and safety standards.
Finally, the industry is experiencing consolidation, with larger manufacturers acquiring smaller companies to gain access to new markets, technologies, and products. This trend is driven by the need for manufacturers to remain competitive in a rapidly changing global marketplace.
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) | |
|---|---|---|
| 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 Rubber and Plastics Hoses and Belting 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 Rubber and Plastics Hoses and Belting 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 Rubber and Plastics Hoses and Belting 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 | 4% | Order at top of page |
||
| Chief Executives | 0% | |||
| General and Operations Managers | 2% | |||
| Office and Administrative Support Occupations | 6% | |||
| Installation, Maintenance, and Repair Occupations | 7% | |||
| Other Installation, Maintenance, and Repair Occupations | 5% | |||
| Production Occupations | 64% | |||
| Assemblers and Fabricators | 7% | |||
| Miscellaneous Assemblers and Fabricators | 7% | |||
| Metal Workers and Plastic Workers | 9% | |||
| Other Production Occupations | 43% | |||
| Extruding, Forming, Pressing, and Compacting Machine Setters, Operators, and Tenders | 12% | |||
| Extruding, Forming, Pressing, and Compacting Machine Setters, Operators, and Tenders | 12% | |||
| Miscellaneous Production Workers | 19% | |||
| Tire Builders | 13% | |||
| Transportation and Material Moving Occupations | 7% | |||
| Material Moving Workers | 6% | |||
Rubber and Plastics Hoses and Belting Manufacturing Competitor Landscape & Key Companies [PREMIUM]
The most influential companies in the Rubber and Plastics Hoses and Belting 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 Rubber and Plastics Hoses and Belting 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 Rubber and Plastics Hoses and Belting Manufacturing industry. |
Source:
Innovation News
- Aug 28, 2023: Goodyear Rubber Products trademarks "GOOD FLEX" - Garden hoses; Non-metal hoses for commercial marine use; Industrial rubber hoses; Industrial plastic hoses; Flexible hoses not of metal
- Aug 28, 2023: Goodyear Rubber Products trademarks "GOOD FLEX" - Garden hoses; Non-metal hoses for commercial marine use; Industrial rubber hoses; Industrial plastic hoses; Flexible hoses not of metal
- May 31, 2020: Goodyear Rubber Products trademarks "GOOD FLEX" - Conveyor belts
Recent Federal Contracts for Rubber and Plastics Hoses and Belting Manufacturing- Mar 07, 2024: LOUIS C. ALLEGRONE, INC. (Lenox, MA) awarded $32,552,592
- Jan 25, 2024: CHARTER INDUSTRIAL SUPPLY, INC. (San Diego, CA) awarded $21,109
- Jan 12, 2024: R. F. S. INC. (Arvada, CO) awarded $2,008
- Mar 07, 2024: LOUIS C. ALLEGRONE, INC. (Lenox, MA) awarded $32,552,592
- Jan 25, 2024: CHARTER INDUSTRIAL SUPPLY, INC. (San Diego, CA) awarded $21,109
- Jan 12, 2024: R. F. S. INC. (Arvada, CO) awarded $2,008
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