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2024 U.S. Industry Statistics & Market Forecast - Speed Changer, Industrial High-Speed Drive, and Gear Manufacturing
Market Size & Industry Statistics
The total U.S. industry market size for Speed Changer, Industrial High-Speed Drive, and Gear 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 Speed Changer, Industrial High-Speed Drive & Gear Manufacturing industry is currently being shaped by various trends that are closely tied to emerging technology, changing customer needs, and market dynamics. Some important trends in this industry include:1. Integration of IoT and Artificial Intelligence: The integration of IoT and artificial intelligence is transforming industrial automation. Speed changers, high-speed drives, and gears can now be monitored and controlled remotely using IoT-enabled sensors. This enables manufacturers to carry out predictive maintenance and reduces downtime.
2. Focus on Energy Efficiency: With rising energy costs and concerns about climate change, there is increasing pressure on manufacturers to produce energy-efficient products. As such, there is a greater emphasis on developing high-efficiency motors and drives that can improve energy performance.
3. Shift to Renewable Energy: Many companies are now switching to renewable energy sources such as wind and solar power. This shift is leading to a greater demand for wind turbine drive train components that can withstand harsh environments while performing efficiently.
4. Increased Customization: Customers are demanding more customized products tailored to their specific needs. Manufacturers are utilizing advanced software systems and automation technology to produce unique products while reducing delivery times and improving customer satisfaction.
5. Demand for High-Performance Materials: Manufacturers are exploring new materials that can improve the performance and efficiency of industrial drives and gears. This includes materials such as carbon fiber, which can increase wear resistance and reduce weight, enhancing overall system performance.
Overall, these trends are encouraging manufacturers in the Speed Changer, Industrial High-Speed Drive & Gear Manufacturing industry to leverage technology and customer insights to create innovative, efficient, and customized products that meet the changing needs of the market.
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 Speed Changer, Industrial High-Speed Drive, and Gear 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 Speed Changer, Industrial High-Speed Drive, and Gear 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 Speed Changer, Industrial High-Speed Drive, and Gear 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 | 8% | Order at top of page |
||
| Chief Executives | 0% | |||
| General and Operations Managers | 2% | |||
| Business and Financial Operations Occupations | 6% | |||
| Architecture and Engineering Occupations | 15% | |||
| Engineers | 12% | |||
| Industrial Engineers, Including Health and Safety | 6% | |||
| Industrial Engineers | 6% | |||
| Office and Administrative Support Occupations | 7% | |||
| Installation, Maintenance, and Repair Occupations | 5% | |||
| Production Occupations | 50% | |||
| Assemblers and Fabricators | 17% | |||
| Engine and Other Machine Assemblers | 9% | |||
| Engine and Other Machine Assemblers | 9% | |||
| Miscellaneous Assemblers and Fabricators | 7% | |||
| Metal Workers and Plastic Workers | 19% | |||
| Machinists | 9% | |||
| Machinists | 9% | |||
| Other Production Occupations | 11% | |||
| Computer Numerically Controlled Tool Operators and Programmers | 6% | |||
| Computer Numerically Controlled Tool Operators | 6% | |||
Speed Changer, Industrial High-Speed Drive, and Gear Manufacturing Competitor Landscape & Key Companies [PREMIUM]
The most influential companies in the Speed Changer, Industrial High-Speed Drive, and Gear 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 Speed Changer, Industrial High-Speed Drive, and Gear 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 Speed Changer, Industrial High-Speed Drive, and Gear Manufacturing industry. |
Source:
Innovation News
- Jan 16, 2024: Brad Foote Gear Works trademarks "BRAD FOOTE GEARING" - Custom manufacturing of gears
- Jun 26, 2023: Brad Foote Gear Works trademarks "GEARMAX" - Custom manufacturing of gears and gear boxes
- Sep 10, 2022: Brad Foote Gear Works trademarks "BRAD FOOTE GEARING A BROADWIND ENERGY COMPANY" - Custom manufacturing of gears
Recent Federal Contracts for Speed Changer, Industrial High-Speed Drive, and Gear Manufacturing- Mar 25, 2024: LUFKIN GEARS LLC (Lufkin, TX) awarded $516,437
- Feb 06, 2024: ZODIAC OF NORTH AMERICA, INC. (Stevensville, MD) awarded $139,441
- Jan 09, 2024: KARL SENNER, LLC (Kenner, LA) awarded $75,952
- Mar 25, 2024: LUFKIN GEARS LLC (Lufkin, TX) awarded $516,437
- Feb 06, 2024: ZODIAC OF NORTH AMERICA, INC. (Stevensville, MD) awarded $139,441
- Jan 09, 2024: KARL SENNER, LLC (Kenner, LA) awarded $75,952
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