NAICS 332313 - Plate Work Manufacturing
This industry comprises establishments primarily engaged in manufacturing fabricated metal plate work by cutting, punching, bending, shaping, and welding purchased metal plate.
Industry trends:
The Plate Work Manufacturing industry (NAICS 332313) has been experiencing several qualitative trends that are shaping its current landscape and future outlook. A significant trend in this industry is the increasing adoption of advanced manufacturing technologies, such as automation and computer numerical control (CNC) machines. These technologies are enhancing precision, efficiency, and overall productivity, thereby reducing lead times and costs. Additionally, there is a growing emphasis on adopting sustainable practices, including the use of eco-friendly materials and energy-efficient processes, driven by both regulatory pressures and customer demand for greener products.
The industry is also seeing a shift towards customization and small batch production, as clients increasingly seek tailored solutions to meet specific needs. This trend is partly driven by the rise of industries like renewable energy and electric vehicles, which require specialized components and plates. Similarly, the demand for high-strength, lightweight materials is on the rise, pushing manufacturers to innovate and use advanced metal alloys and composites.
In the near future, the Plate Work Manufacturing industry is expected to continue its trajectory of technological advancement, with a greater integration of Industry 4.0 principles, including IoT and data analytics. This will enable more efficient production processes and improved quality control. Additionally, as global supply chains evolve post-pandemic, manufacturers may increasingly look to onshore or nearshore their operations to reduce dependency on foreign suppliers and mitigate risks. Overall, the industry is poised for growth, driven by technological innovation, sustainability initiatives, and evolving customer demands.
This industry is comprised of:
This report includes the ability to segment your Industry by:
- Region
- Employees
- Net Sales
- Company Age
- Total Assets
- Ownership Type
With iCFO You Get
What Is iCFO?
A review and comparison of financial performance of privately-help companies in specified SIC/NAICS industry segment, using industry standard benchmarks.
Sound Business Analysis
Answers come easily with iCFO. Review ROI, sales per employee, profit margins of the top 10%, top 25% and more, to identify areas of concern and opportunity. Examine what if scenarios and P&L impact of reducing costs or adding revenue.
Your Business’ Health In Minutes
It takes only five minutes to enter your data and produce a concise profile of your company’s fiscal state, including critical business ratios focusing on liquidity, profitability, asset efficiency, and growth.