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2024 U.S. Industry Statistics & Market Forecast - Iron and Steel Pipe and Tube Manufacturing from Purchased Steel
Market Size & Industry Statistics
The total U.S. industry market size for Iron and Steel Pipe and Tube Manufacturing from Purchased Steel:
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 Metal Pipe & Tube Manufacturing industry has undergone a series of transformations, driven by both technological advancements and changing customer preferences. These trends have had a significant impact on the industry, and they include:1. Reshoring - Following the COVID-19 pandemic, many countries have started to reshore their manufacturing industries, including the metal pipe and tube manufacturing industry. This trend is expected to continue as countries look to reduce reliance on imports.
2. Digitization - The industry is embracing digital technologies such as automation, artificial intelligence (AI), and the Internet of Things (IoT) to improve efficiency and reduce costs.
3. Increased demand for eco-friendly materials - As consumers become more environmentally conscious, there is a growing demand for eco-friendly materials in the industry. This has led to a focus on the production of sustainable pipes and tubes that are recyclable and eco-friendly.
4. Globalization - The industry has become increasingly globalized, with companies operating in multiple countries. This trend has been accelerated by the growth of e-commerce, which has made it easier for companies to expand their operations globally.
5. Changing customer preferences - Customers are now looking for more customized solutions, leading to a shift towards more flexible manufacturing processes. This has been made possible by technological advancements and has enabled the industry to meet the changing needs of customers.
Overall, the metal pipe and tube manufacturing industry is undergoing a significant shift, driven by technological advancements, changing customer preferences, and global developments.
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 Iron and Steel Pipe and Tube Manufacturing from Purchased Steel 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 Iron and Steel Pipe and Tube Manufacturing from Purchased Steel 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 Iron and Steel Pipe and Tube Manufacturing from Purchased Steel 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 | 6% | Order at top of page |
||
| Chief Executives | 0% | |||
| General and Operations Managers | 2% | |||
| Office and Administrative Support Occupations | 8% | |||
| Installation, Maintenance, and Repair Occupations | 7% | |||
| Other Installation, Maintenance, and Repair Occupations | 6% | |||
| Production Occupations | 56% | |||
| Supervisors of Production Workers | 6% | |||
| First-Line Supervisors of Production and Operating Workers | 6% | |||
| First-Line Supervisors of Production and Operating Workers | 6% | |||
| Metal Workers and Plastic Workers | 38% | |||
| Forming Machine Setters, Operators, and Tenders, Metal and Plastic | 10% | |||
| Rolling Machine Setters, Operators, and Tenders, Metal and Plastic | 5% | |||
| Machine Tool Cutting Setters, Operators, and Tenders, Metal and Plastic | 11% | |||
| Cutting, Punching, and Press Machine Setters, Operators, and Tenders, Metal and Plastic | 8% | |||
| Multiple Machine Tool Setters, Operators, and Tenders, Metal and Plastic | 6% | |||
| Multiple Machine Tool Setters, Operators, and Tenders, Metal and Plastic | 6% | |||
| Welding, Soldering, and Brazing Workers | 6% | |||
| Welders, Cutters, Solderers, and Brazers | 6% | |||
| Other Production Occupations | 8% | |||
| Transportation and Material Moving Occupations | 9% | |||
| Material Moving Workers | 8% | |||
Iron and Steel Pipe and Tube Manufacturing from Purchased Steel Competitor Landscape & Key Companies [PREMIUM]
The most influential companies in the Iron and Steel Pipe and Tube Manufacturing from Purchased Steel 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 Iron and Steel Pipe and Tube Manufacturing from Purchased Steel 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 Iron and Steel Pipe and Tube Manufacturing from Purchased Steel industry. |
Source:
Innovation News
- Oct 31, 2022: Nextgen Aero Support trademarks "GREENSTAND" - Aircraft engines
- Dec 07, 2021: Sausage Maker trademarks "YOUR FOOD. YOUR WAY." - Online, mail order and retail store services featuring equipment and ingredients related to meat curing, processing and sausage making
- Feb 02, 2021: Craco Manufacturing trademarks "SMARTSTUD" - Steel frames for building
- Aug 02, 2018: Sausage Maker patents System For Sharpening Cutting Edges
- Aug 02, 2018: Sausage Maker patents System For Sharpening Cutting Edges
Recent Federal Contracts for Iron and Steel Pipe and Tube Manufacturing from Purchased Steel- Apr 02, 2024: METAL CULVERTS, INC. (Jefferson City, MO) awarded $60,000
- Mar 27, 2024: BPS SUPPLY GROUP (Shafter, CA) awarded $20,328
- Mar 15, 2024: GALVANIZERS, INC. (West Fargo, ND) awarded $13,940
- Feb 21, 2024: TECH SERVICE SOLUTIONS LLC (New York, NY) awarded $31,349
- Feb 05, 2024: CAPITOL CITY SUPPLY CO INC (Burke, VA) awarded $1,257
- Jan 23, 2024: UNITED COMMERCIAL SUPPLY LLC (South Park, PA) awarded $1,539
- Apr 02, 2024: METAL CULVERTS, INC. (Jefferson City, MO) awarded $60,000
- Mar 27, 2024: BPS SUPPLY GROUP (Shafter, CA) awarded $20,328
- Mar 15, 2024: GALVANIZERS, INC. (West Fargo, ND) awarded $13,940
- Feb 21, 2024: TECH SERVICE SOLUTIONS LLC (New York, NY) awarded $31,349
- Feb 05, 2024: CAPITOL CITY SUPPLY CO INC (Burke, VA) awarded $1,257
- Jan 23, 2024: UNITED COMMERCIAL SUPPLY LLC (South Park, PA) awarded $1,539
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