2023 U.S. Industry Statistics & Market Forecast - Petroleum & Coal Products Manufacturing

Published: December 2023

Industry Insights

The Petroleum & Coal Products Manufacturing industry is undergoing a period of significant transformation due to various factors including shifts in global trade, advances in technology, increasing environmental regulations, and changing consumer demand. One of the most important trends affecting the industry is the growing demand for renewable energy sources such as solar, wind, and hydro power, which is forcing many traditional players to re-evaluate their strategies and pivot towards cleaner energy alternatives.

Another key trend affecting the industry is the growing emphasis on digitalization, automation, and data analytics, which are transforming the way companies operate and optimize their production processes. This trend is also leading to the development of new technologies such as the Internet of Things (IoT), artificial intelligence (AI), and robotics, which are increasingly being adopted by the industry for improved safety, efficiency, and productivity.

Environmental concerns and regulations are also driving change in the Petroleum & Coal Products Manufacturing industry, with many companies investing heavily in cleaner technologies, processes, and products. This includes reducing emissions, increasing energy efficiency, and developing sustainable products. Additionally, the growth of electric vehicles and alternative fuels has also impacted the industry, with many companies investing in research and development to stay competitive.

In summary, the Petroleum & Coal Products Manufacturing industry is facing a range of challenges and opportunities, with trends such as the growth of renewable energy, digitalization, and sustainability set to shape the industry's future over the coming years. Companies that can adapt and innovate in response to these trends are likely to thrive in an evolving and dynamic 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
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

Source: AnythingResearch Analysis of U.S. federal statistics

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	%
General and Operations Managers	%
Business and Financial Operations Occupations	6%
Business Operations Specialists	5%
Architecture and Engineering Occupations	8%
Engineers	7%
Office and Administrative Support Occupations	6%
Construction and Extraction Occupations	7%
Construction Trades Workers	6%
Installation, Maintenance, and Repair Occupations	8%
Other Installation, Maintenance, and Repair Occupations	6%
Production Occupations	39%
Supervisors of Production Workers	5%
First-Line Supervisors of Production and Operating Workers	5%
First-Line Supervisors of Production and Operating Workers	5%
Plant and System Operators	17%
Miscellaneous Plant and System Operators	17%
Petroleum Pump System Operators, Refinery Operators, and Gaugers	14%
Other Production Occupations	13%
Crushing, Grinding, Polishing, Mixing, and Blending Workers	6%
Mixing and Blending Machine Setters, Operators, and Tenders	5%
Transportation and Material Moving Occupations	9%
Material Moving Workers	5%

Source: Bureau of Labor Statistics

Petroleum & Coal Products Manufacturing Competitor Landscape & Key Companies [PREMIUM]

The most influential companies in the Petroleum & Coal Products 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 Petroleum & Coal Products 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 Petroleum & Coal Products Manufacturing industry.

Government Contracts

In 2022, the federal government spent a total of $9,146,540,346 on Petroleum & Coal Products Manufacturing. It has awarded 273563 contracts to 849 companies, with an average value of $10,773,310 per company.   

Most Recent Contracts	Date	Total Award Amount
WORLD FUEL SERVICES EUROPE, LTD. 8th Floor London,	Jun 29, 2023	$21,071