NAICS 33261 - Spring and Wire Product Manufacturing
This industry comprises establishments primarily engaged in (1) manufacturing steel springs by forming, such as cutting, bending, and heat winding, metal rod or strip stock and/or (2) manufacturing wire springs and fabricated wire products from wire drawn elsewhere (except watch and clock springs).
Industry trends:
The Spring and Wire Product Manufacturing industry (NAICS 33261) has been experiencing several qualitative trends recently. One notable trend is the growing demand for custom and specialized spring and wire products driven by advancements in various sectors such as automotive, aerospace, and medical devices. Manufacturers are increasingly investing in advanced technologies like computer-aided design (CAD) and precision engineering to meet these specific needs.
Sustainability is another significant trend influencing the industry. Companies are focusing on the use of eco-friendly materials and processes to minimize environmental impact. This is driven by both regulatory requirements and consumer demand for greener products.
Automation and the implementation of Industry 4.0 principles are reshaping the production landscape. Enhanced automation solutions, such as robotic assembly and IoT-enabled machinery, are becoming more prevalent, resulting in increased efficiency and reduced labor costs. Additionally, there’s a growing emphasis on supply chain resilience, with companies looking to diversify their suppliers and invest in local manufacturing capabilities to mitigate risks associated with global supply chain disruptions.
For the near future, these trends are expected to continue. The focus on customization, sustainability, and automation will likely drive innovation and investments in new technologies. Demand for high-quality, specialized spring and wire products will remain strong, particularly in sectors undergoing rapid technological advancements. Additionally, anticipating potential supply chain challenges, industry players may increasingly prioritize local sourcing and flexible manufacturing solutions.
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.