| Standard Report | Premium Report | |
|---|---|---|
| Current State of the Industry |  |
|
| Market Size (industry trends) | |
|
| Market Forecast (5-year projection) | |
|
| Products/Services Breakdown | |
|
| Revenue per State | |
|
| Financial Metrics | |
|
| Salary & Compensation Statistics | |
|
| Public Company Information | |
|
| Key Private Companies | |
|
| Government Vendors | |
|
| Instant Download - Available immediately upon purchase | |
|
Download both PDF and Excel
|
|
|
| Download now: |
2024 U.S. Industry Statistics & Market Forecast - Machine Shops
Market Size & Industry Statistics
The total U.S. industry market size for Machine Shops:
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 Machine Shops industry has experienced several trends that have significantly impacted its operations in recent years. One of the key trends is the incorporation of advanced technologies in the production process. Machine shops are now using computer numerical control (CNC) machines to enhance precision and accuracy in their manufacturing processes. Additionally, the use of 3D printing technology has enabled machine shops to produce complex parts with high accuracy and speed.Another trend is the increasing demand for customized parts and components. Customers are seeking unique and tailor-made solutions that meet their specific needs, which has led to the adoption of flexible manufacturing systems in machine shops. These systems allow for the production of small batches of customized parts at a lower cost, making it easier for machine shops to meet the diverse needs of their customers.
The industry has also witnessed an increase in the use of sustainable and eco-friendly manufacturing practices. Machine shops are adopting green technologies and processes that reduce waste, conserve energy, and minimize the impact on the environment. This trend is driven by the growing demand for environmentally responsible products and services.
Finally, the Machine Shops industry is experiencing a shortage of skilled labor. The aging workforce and the lack of interest among young people in pursuing careers in manufacturing have led to a shortage of skilled workers in the industry. This trend is driving machine shops to invest in training and development programs to attract and retain talent.
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 |
|
| 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 Machine Shops 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 Machine Shops industry is performing. | |
| Profit Margin Gross Profit Margin, Operating Profit Margin, and Net Profit Margin. Show company earnings relative to revenues. |
|
| 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). |
|
| Return on Assets (ROA) Return on Assets (ROA) is net income relative to total assets. The market research on Machine Shops 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 |
|---|---|
| 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. |
|
| Quick Ratio (Acid Test) Calculates liquid assets relative to liabilities, excluding inventories. |
|
| 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. |
|
| Average Collection Period Based on the Receivables Turnover, this estimates the collection period in days. Calculated as 365 divided by the Receivables Turnover |
|
| Inventory Turnover A low turnover rate may point to overstocking, obsolescence, or deficiencies in the product line or marketing effort. |
|
| 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 |
|---|---|---|---|---|
| Management Occupations | 7% | Order at top of page |
||
| Chief Executives | 0% | |||
| General and Operations Managers | 4% | |||
| Office and Administrative Support Occupations | 10% | |||
| Production Occupations | 68% | |||
| Metal Workers and Plastic Workers | 38% | |||
| Machine Tool Cutting Setters, Operators, and Tenders, Metal and Plastic | 6% | |||
| Machinists | 25% | |||
| Machinists | 25% | |||
| Welding, Soldering, and Brazing Workers | 6% | |||
| Welders, Cutters, Solderers, and Brazers | 5% | |||
| Other Production Occupations | 21% | |||
| Computer Numerically Controlled Tool Operators and Programmers | 14% | |||
| Computer Numerically Controlled Tool Operators | 12% | |||
Machine Shops Competitor Landscape & Key Companies [PREMIUM]
The most influential companies in the Machine Shops 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 Machine Shops 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 Machine Shops industry. |
Source:
Innovation News
- Apr 18, 2024: Karltex Machine patents Mixed-reality System And Methods
- Apr 18, 2024: Karltex Machine patents Mixed-reality System And Methods
- Apr 18, 2024: Spoked Solutions Alliance patents Emergency Disconnect Isolation Valve
- Jan 29, 2024: Nix Companies trademarks "NIX" - Machine shop services
- Jan 25, 2024: Nix Companies trademarks "BE BIG, ACT SMALL." - Machine shop services
- Jan 08, 2024: Spoked Solutions Alliance trademarks "SPOKED SOLUTIONS" - Consultation in the field of custom fabrication of oil and gas industrial machines
Recent Federal Contracts for Machine Shops- Mar 29, 2024: KINGSBURY INC. (Philadelphia, PA) awarded $336,424
- Mar 27, 2024: K5 DEFENSE LLC (Doral, FL) awarded $52,944
- Mar 26, 2024: POCASSET MACHINE CORP (Pocasset, MA) awarded $32,800
- Mar 25, 2024: UNIVERSITY OF DELAWARE (Newark, DE) awarded $934,576
- Mar 19, 2024: AEROFORCE LOGISTICS, LLC (Milwaukee, WI) awarded $110,028
- Mar 15, 2024: BASS MACHINING COMPANY, INC. (Dundalk, MD) awarded $31,652
- Mar 29, 2024: KINGSBURY INC. (Philadelphia, PA) awarded $336,424
- Mar 27, 2024: K5 DEFENSE LLC (Doral, FL) awarded $52,944
- Mar 26, 2024: POCASSET MACHINE CORP (Pocasset, MA) awarded $32,800
- Mar 25, 2024: UNIVERSITY OF DELAWARE (Newark, DE) awarded $934,576
- Mar 19, 2024: AEROFORCE LOGISTICS, LLC (Milwaukee, WI) awarded $110,028
- Mar 15, 2024: BASS MACHINING COMPANY, INC. (Dundalk, MD) awarded $31,652
Related Reports
Can't find what you're looking for? We have over a thousand
market research reports.
Ask us and an analyst will help you find what you need.