$28.2bn
$X.Xbn
73,625
1,669
$X.Xbn
The industry is composed of various product segments, including copiers and office machinery, commercial cooking equipment, vacuum cleaners and vending machines. Revenue has exhibited fluctuations through the end of 2023, as performance is determined by commercial demand, which is influenced by consumer spending and the overall economic conditions. Consequently, revenue from commercial cooking ovens and food-warming appliances, the industry's largest product segment, is estimated to have endured significant complications amid the pandemic in 2020, as many dine-in options for restaurants were forced to completely shut down. Driven by the contracted demand in 2020, revenue is expected to decline at a CAGR of 2.3% over the past five years to $28.2 billion through the end of 2023. Profit is projected to also decline during the five-year period, as costs have outpaced revenue growth.But the economy is anticipated to continue to reopen in 2023 due to the widespread distribution of the coronavirus vaccine. Manufacturers' primary end markets, which are large commercial multinational chain manufacturers and independently owned establishments, are projected to regain their composure post-recession as restrictions are lifted. Since the industry provides a wide array of products, performance is heavily tied to the health of the overall economy. Consequently, the national unemployment rate plummeted in 2021 and 2022, enabling a greater proportion of consumers to have the necessary funds to purchase goods and services from end markets, boosting demand for copier and optical products. Revenue is forecast to decrease 1.7% in 2023 alone.Through the end of 2028, supply chain disruptions are expected to contract as the economy completely recovers from the COVID-19-induced recession. Growth in demand from downstream wholesalers and corporate profit will likely help sustain manufacturers through the end of 2028. Also, a rebound in the food service industry due to the elimination of dine-in restrictions is anticipated to add to demand. Overall, revenue is forecast to increase at a CAGR of 2.2% to $31.5 billion through the end of 2028.
Industry revenue has declined at a CAGR of 2.3 % over the past five years, to reach an estimated $28.2bn in 2024.
Market size is projected to grow over the next five years.
Company | Market Share (%)
2023 | Revenue ($m)
2023 | Profit ($m)
2023 | Profit Margin (%)
2023 |
---|---|---|---|---|
Rinnai Corporation | 3,482.2 | 153.2 | 4.4 | |
Emerson Electric Co. | 2,346.8 | 384.6 | 16.4 | |
Miele, Inc. | 1,615.1 | 71.1 | 4.4 |
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Industry revenue is measured across several distinct product and services lines, including Optical instrument and lens manufacturing, Photographic and photocopying equipment manufacturing and Commercial laundry, coin-operated merchandising. Optical instrument and lens manufacturing is the largest segment of the Copier & Optical Machinery Manufacturing in the US.
Optical instruments and lens manufacturing
This industry mainly manufactures commercial cooking equipment, floor-cleaning machines (excluding residential vacuums), electronic teaching machines and automotive maintenance equipment (excluding hand tools). Operators also manufacture parts for service-industry equipment; optical instruments and lenses; copiers and office machinery (excluding printers); photographic equipment (excluding digital); automatic vending machines; and commercial laundry and dry-cleaning equipment.
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NAICS 33331 - Copier & Optical Machinery Manufacturing in the US
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Trade plays a critical role in the industry. The pandemic in 2020 significantly impaired international trade, both at the export and import levels.
Learn about an industry's products and services, markets and trends in international trade.
The optical instruments and lens manufacturing segment has decreased as a percentage of revenue through the end of 2023, as other commercial machinery has consistently account...
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Manufacturers congregate in areas with access to international trade. California, Florida and New York are popular among manufacturers because of their access to the coasts.
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
Import penetration is the main source of external competition for the industry. Imports satisfy nearly half of all domestic demand.
Learn about the performance of the top companies in the industry.
Welbilt, a manufacturer of commercial cooking equipment, dominates this category for miscellaneous commercial and service machinery. Xerox holds a large proportional share of...
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Manufacturers are subject to various federal, state and local laws and regulations relating to the protection of the environment. These laws and regulations impose limitation...
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The COVID-19 pandemic caused a significant disruption in the global supply chain for manufacturers, leading to declining profitability and increased costs. Profitability is n...
Including values and annual change:
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Key data sources in the US include:
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The market size of the Copier & Optical Machinery Manufacturing in the US industry in United States is $28.2bn in 2024.
There are 1,669 businesses in the Copier & Optical Machinery Manufacturing in the US industry in United States, which has declined at a CAGR of 1.1 % between 2019 and 2024.
The market size of the Copier & Optical Machinery Manufacturing in the US industry in United States has been declining at a CAGR of 2.3 % between 2019 and 2024.
Over the next five years, the Copier & Optical Machinery Manufacturing in the US industry in United States is expected to grow.
The biggest companies operating in the Copier & Optical Machinery Manufacturing market in United States are Rinnai Corporation, Emerson Electric Co. and Miele, Inc.
Manufacturing other commercial and service-industry equipment, including commercial-type cooking equipment and Manufacturing industrial floor cleaners and electronic teaching machines are part of the Copier & Optical Machinery Manufacturing in the US industry.
The company holding the most market share in United States is Rinnai Corporation.
The level of competition is moderate and steady in the Copier & Optical Machinery Manufacturing in the US industry in United States.