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Current State of the Industry | ||
Market Size (industry trends) | ||
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Products/Services Breakdown | ||
Revenue per State | ||
Financial Metrics | ||
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2024 U.S. Industry Statistics & Market Forecast - Industrial Gas Manufacturing
Market Size & Industry Statistics
The total U.S. industry market size for Industrial Gas 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 | |
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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 | |
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Market Forecast ($ millions) | ||||||
Projected Industry Growth Rate (%) |
Industry Insights
The Industrial Oxygen & Nitrogen Gas Manufacturing industry is heavily dependent on the manufacturing, construction, and healthcare sectors. The COVID-19 pandemic has affected the industry as the reduction in demand from the manufacturing and construction sectors caused the industry's revenue to decline. However, the industry has experienced some growth in demand from the healthcare industry due to the increased need for medical oxygen.Another crucial trend affecting the industry is the growing focus on green technologies. To reduce carbon emissions and improve sustainability, industrial gas manufacturers are investing in renewable energy sources, transitioning to electric power, and using low carbon emissions gases such as hydrogen.
Demand for high purity gases is another trend affecting the industry. There is a growing demand for high purity nitrogen and oxygen gases as they improve manufacturing processes, and research and development in industries such as pharmaceuticals, food and beverage, and chemical manufacturing.
The industry's vertical integration is also a crucial trend. Suppliers are consolidating and integrating their operations, from raw material sourcing to distribution, to improve efficiency and boost profitability.
Advancements in technology are also significantly affecting the industry, with gas manufacturers increasingly adopting IoT, artificial intelligence, and other technological innovations. These technologies help to optimize the production processes, automate supply chains, minimize waste, and improve the safety of workers.
Lastly, the industry is rapidly expanding globally, with developing economies posing significant growth opportunities. Major gas manufacturers are investing in these emerging markets to increase their market share and capitalize on the growing demand for industrial gases.
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 Industrial Gas 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 |
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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 Industrial Gas 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 Industrial Gas Manufacturing measures how efficiently the company leverages its assets to generate profit. ROA is calculated as Net Income divided by Total Assets. |
Liquidity Ratios | Industry Average |
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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. |
Efficiency Ratios - Key Performance Indicators | Industry Average |
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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. |
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 |
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Management Occupations | 10% | Order at top of page |
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Chief Executives | 0% | |||
General and Operations Managers | 2% | |||
Business and Financial Operations Occupations | 6% | |||
Business Operations Specialists | 5% | |||
Architecture and Engineering Occupations | 6% | |||
Life, Physical, and Social Science Occupations | 9% | |||
Office and Administrative Support Occupations | 9% | |||
Installation, Maintenance, and Repair Occupations | 6% | |||
Other Installation, Maintenance, and Repair Occupations | 5% | |||
Production Occupations | 40% | |||
Other Production Occupations | 30% | |||
Chemical Processing Machine Setters, Operators, and Tenders | 13% | |||
Chemical Equipment Operators and Tenders | 12% | |||
Packaging and Filling Machine Operators and Tenders | 7% | |||
Packaging and Filling Machine Operators and Tenders | 7% | |||
Transportation and Material Moving Occupations | 7% | |||
Material Moving Workers | 5% |
Industrial Gas Manufacturing Competitor Landscape & Key Companies [PREMIUM]
The most influential companies in the Industrial Gas 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 Industrial Gas 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 Industrial Gas Manufacturing industry. |
Source:
Innovation News
- Aug 11, 2023: Oneh2 trademarks "ONE H2 FUELING THE HYDROGEN REVOLUTION" - Generation of electricity; generation of power; custom manufacturing of industrial and commercial hydrogen systems; custom manufacturing of fuel cell systems and hydrogen generators; hydrogen generation services; manufacturing of fuel cell systems and hydrogen generators
- Aug 11, 2023: Oneh2 trademarks "ONEH2 FUELING THE HYDROGEN REVOLUTION" - Generation of electricity; generation of power; custom manufacturing of industrial and commercial hydrogen systems; custom manufacturing of fuel cell systems and hydrogen generators; hydrogen generation services; manufacturing of fuel cell systems and hydrogen generators
- Jul 21, 2023: Ideal Calibrations trademarks "IDEAL CALIBRATIONS" - CALIBRATION GAS CYLINDERS
- Jan 26, 2023: Carbon Capture America patents Co2 Separation & Liquefaction System And Method
- Sep 14, 2021: Carbon Capture America raises $29 million in funding.
- Sep 10, 2020: Messer patents Method For Controlling A Combustion And Furnace
- Mar 18, 2020: Carbon Capture America raises $4 million in funding.
- Oct 25, 2018: Proton Power patents Biochar Products And Production
Recent Federal Contracts for Industrial Gas Manufacturing- Apr 02, 2024: AIRGAS USA LLC (Independence, OH) awarded $19,222
- Apr 02, 2024: RAS ENTERPRISE, LLC (Gulfport, MS) awarded $6,000
- Apr 02, 2024: LINDE GAS & EQUIPMENT INC. (Danbury, CT) awarded $177,360
- Apr 02, 2024: ROBERTS OXYGEN CO INC (Derwood, MD) awarded $12,141
- Apr 02, 2024: LINDE INC. (Danbury, CT) awarded $9,332,636
- Apr 02, 2024: GILMORE LIQUID AIR CO. (El Monte, CA) awarded $10,229
- Apr 02, 2024: AIRGAS USA LLC (Independence, OH) awarded $19,222
- Apr 02, 2024: RAS ENTERPRISE, LLC (Gulfport, MS) awarded $6,000
- Apr 02, 2024: LINDE GAS & EQUIPMENT INC. (Danbury, CT) awarded $177,360
- Apr 02, 2024: ROBERTS OXYGEN CO INC (Derwood, MD) awarded $12,141
- Apr 02, 2024: LINDE INC. (Danbury, CT) awarded $9,332,636
- Apr 02, 2024: GILMORE LIQUID AIR CO. (El Monte, CA) awarded $10,229
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