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2024 U.S. Industry Statistics & Market Forecast - Steel Wire Drawing
Market Size & Industry Statistics
The total U.S. industry market size for Steel Wire Drawing:
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 steel wire drawing industry is experiencing several key trends that are impacting its operations and profitability. One of the significant trends is the growing demand for high-quality steel wire products that are durable and meet customer specifications. Manufacturers are investing in advanced technologies and equipment to produce wire products with high tensile strength, corrosion resistance, and excellent surface finish.Another trend is the increasing competition from low-cost manufacturers from emerging economies, like China, India, and Brazil. These manufacturers are offering wire products at lower prices, which is creating pressure on the profitability of domestic producers. As a result, many steel wire drawing companies are pursuing strategies such as mergers and acquisitions or forming partnerships to improve their competitiveness and expand their market share.
Moreover, the industry is experiencing a shift towards automation and digitalization to streamline operations, reduce costs, and improve production efficiency. Many companies are adopting IoT, machine learning, and artificial intelligence to optimize production processes, improve quality control, and enhance product development.
Environmental concerns and sustainability are also becoming a critical trend in the steel wire drawing industry. Many manufacturers are implementing eco-friendly technologies and practices such as recycling and reusing waste materials, reducing greenhouse gas emissions, and conserving energy.
Overall, the steel wire drawing industry is experiencing several trends that are shaping its future growth and profitability. To remain competitive, manufacturers must innovate, adopt advanced technologies, and embrace sustainability practices.
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 Steel Wire Drawing 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 Steel Wire Drawing 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). |
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| Return on Assets (ROA) Return on Assets (ROA) is net income relative to total assets. The market research on Steel Wire Drawing 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% | |||
Steel Wire Drawing Competitor Landscape & Key Companies [PREMIUM]
The most influential companies in the Steel Wire Drawing 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 Steel Wire Drawing 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 Steel Wire Drawing industry. |
Source:
Innovation News
Recent Federal Contracts for Steel Wire Drawing- Apr 02, 2024: MINTON SUPPLY CO (Macon, GA) awarded $1,375
- Apr 02, 2024: PREMIER & COMPANIES, INC. (Secaucus, NJ) awarded $1,990
- Mar 01, 2024: MISCELLANEOUS FOREIGN AWARDEES (Washington, DC) awarded $50,364
- Feb 01, 2024: RLH INC. (Mission, SD) awarded $39,072
- Jan 23, 2024: RJL ENTERPRISES LLC (Sutherland, NE) awarded $6,075
- Apr 02, 2024: MINTON SUPPLY CO (Macon, GA) awarded $1,375
- Apr 02, 2024: PREMIER & COMPANIES, INC. (Secaucus, NJ) awarded $1,990
- Mar 01, 2024: MISCELLANEOUS FOREIGN AWARDEES (Washington, DC) awarded $50,364
- Feb 01, 2024: RLH INC. (Mission, SD) awarded $39,072
- Jan 23, 2024: RJL ENTERPRISES LLC (Sutherland, NE) awarded $6,075
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