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2023 U.S. Industry Statistics & Market Forecast - Switchgear & Switchboard Apparatus Manufacturing
Market Size & Industry Statistics
The total U.S. industry market size for Switchgear & Switchboard Apparatus 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 | 2017 2018 2019 2020 2021 2022 | |
|---|---|---|
| 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 / six-year demand forecast projects both short-term and long-term trends.
| Forecast / Industry Outlook | 2023 | 2024 | 2025 | 2026 | 2027 | 2028 |
|---|---|---|---|---|---|---|
| Market Forecast ($ millions) | ||||||
| Projected Industry Growth Rate (%) | ||||||
Industry Insights
The Switchgear & Switchboard Apparatus Manufacturing industry is subject to a range of trends that impact companies in the sector. One such trend is the emphasis on energy efficiency and renewable energy. As nations around the globe strive to reduce their carbon footprint, energy efficiency has become a top priority, and as a result, companies in the switchgear and switchboard apparatus industries are under pressure to provide products that are efficient and compatible with renewable energy sources.Another trend is the shift towards smart grid technology. With the increasing use of automation and the Internet of Things (IoT), companies are developing solutions that can offer more precise control and predictive maintenance of switchgear apparatus. As a result, companies in this industry are investing heavily in R&D to create top-level products.
Additionally, the growth of distributed energy resources (DERs) is something that is affecting companies in the switchgear & switchboard apparatus manufacturing industry. DERs, like solar panels and wind turbines, require different types of switchgear apparatus, which companies in this industry must be able to provide.
Finally, the industry is also seeing a rise in demand for digital switchgear apparatus. Companies are offering smart, digital switchgear equipment that can be connected to the cloud, where they can be monitored remotely. This technology allows end-users to have real-time information about the performance of their electricity infrastructure, which can lead to better decision-making.
Product & Services Breakdown
Research products and services in the Switchgear & Switchboard Apparatus Manufacturing industry generating sales. Note that products are broken into categories with different levels of classification.| Product Description | Sales ($ millions) | Percent of Total Sales | |
|---|---|---|---|
Industry Total |
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Power, Distribution, And Specialty Transformer Manufacturing |
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Switchgear And Switchboard Apparatus Manufacturing |
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Power Circuit Breakers, All Voltages |
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Low Voltage Panelboards And Distribution Boards And Other Switching And Interrupting Devices, 1000 Volts Or Less |
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Fuses And Fuse Equipment Less Than 2300 Volts (Excluding Power Distribution Cut-Outs) |
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Molded Case Circuit Breakers, 1000 Volts Or Less |
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Duct, Including Plug-In Units And Accessories, 1000 Volts Or Less |
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Switchgear, Excluding Ducts And Relays |
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Switchgear And Switchboard Apparatus Manufacturing, Not Categorized, Total |
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Relay And Industrial Control Manufacturing |
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General-Purpose Industrial Controls |
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Total Miscellaneous Receipts |
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Resales - Sales Of Products Bought And Sold Without Further Manufacture, Processing, Or Assembly |
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Miscellaneous Receipts, Including Receipts For Repair Work, Sales Of Scrap And Refuse. |
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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 Switchgear & Switchboard Apparatus 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 Switchgear & Switchboard Apparatus 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 Switchgear & Switchboard Apparatus 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 |
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| Chief Executives | 0% | |||
| General and Operations Managers | 2% | |||
| Business and Financial Operations Occupations | 6% | |||
| Business Operations Specialists | 5% | |||
| Architecture and Engineering Occupations | 13% | |||
| Engineers | 9% | |||
| Office and Administrative Support Occupations | 7% | |||
| Production Occupations | 50% | |||
| Assemblers and Fabricators | 32% | |||
| Electrical, Electronics, and Electromechanical Assemblers | 22% | |||
| Electrical, Electronic, and Electromechanical Assemblers, Except Coil Winders, Tapers, and Finishers | 20% | |||
| Miscellaneous Assemblers and Fabricators | 8% | |||
| Metal Workers and Plastic Workers | 8% | |||
| Other Production Occupations | 7% | |||
Switchgear & Switchboard Apparatus Manufacturing Competitor Landscape & Key Companies [PREMIUM]
The most influential companies in the Switchgear & Switchboard Apparatus 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 Switchgear & Switchboard Apparatus 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 Switchgear & Switchboard Apparatus Manufacturing industry. |
Source:
Government Contracts
In 2022, the federal government spent a total of $75,848,875 on Switchgear & Switchboard Apparatus Manufacturing. It has awarded 1799 contracts to 407 companies, with an average value of $186,361 per company.| Most Recent Contracts | Date | Total Award Amount |
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