$10.7bn
$XXX.Xm
33,418
818
$X.Xbn
Wire and spring manufacturers produce various fabricated metal products, including heavy- and light-gauge springs, wire rope, wire mesh and chain link fencing. Springs and wires are integral for manufacturing and building various goods and structures, including general construction work, automobiles, furniture, toys, electronics and other consumer products that contain wire and spring components. Since the industry relies on the overall production output of the economy, any fluctuation in the unemployment rate or consumer spending significantly impacts performance. Revenue dropped sharply in 2020 during the start of the pandemic. The ensuing boom in spending on goods and rise in steel prices during 2021 helped bolster sales. Higher interest rates and slower economic growth contributed to sluggish performance in recent years. The industry is estimated to contract at a CAGR of 1.5% to $10.7 billion through the end of 2024, including a forecast decline of 0.9% during the current year.
Industry revenue has declined at a CAGR of 1.5 % over the past five years, to reach an estimated $10.7bn in 2024.
Market size is projected to grow over the next five years.
Company | Market Share (%)
2024 | Revenue ($m)
2024 | Profit ($m)
2024 | Profit Margin (%)
2024 |
---|---|---|---|---|
Leggett & Platt, Inc. | 2,293.4 | 256.9 | 11.2 | |
MW Industries Inc. | 69.3 | 3.0 | 4.3 | |
Peterson American Corporation | 55.2 | 2.4 | 4.3 |
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Industry revenue is measured across several distinct product and services lines, including Other fabricated wire products, Light-gauge springs and Steel wire, rope and cable. Other fabricated wire products is the largest segment of the Wire & Spring Manufacturing in the US.
Fabricated wire segments struggle as construction markets falter
Companies in the wire and spring manufacturing industry produce heavy- and light-gauge springs using steel and drawn wire. Firms may also manufacture other wire-based products, such as wire rope, wire mesh and chain link fencing.
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NAICS 33261 - Wire & Spring 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.
Wire and spring manufacturers have shifted to custom-made products, enabling companies to move into niche product segments. These customized products will elevate profit for ...
Learn about an industry's products and services, markets and trends in international trade.
Domestic manufacturers have struggled to compete with low-cost foreign alternatives. Foreign manufacturers can provide inexpensive generic springs and wires at lower costs th...
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Wire and spring manufacturers set up near their supply chains. Companies seek to cut transportation costs when possible, leading to a high concentration of establishments in ...
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.
Successful companies invest in research and development teams to innovate new products. These innovative products are often more resilient to import penetration.
Learn about the performance of the top companies in the industry.
Established companies have the benefit of long-standing contracts with downstream markets. Smaller entrants must contend with heavy price competition from larger manufacturer...
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Wire and spring manufacturers endure strict environmental, workplace and product standards. These standards include those set by the EPA, OSHA and private organizations.
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Volatile steel prices have led to greater purchase costs. While higher steel prices have enabled manufacturers to grow, passing on costs to buyers, higher prices pressure pro...
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 Wire & Spring Manufacturing in the US industry in United States is $10.7bn in 2024.
There are 818 businesses in the Wire & Spring Manufacturing in the US industry in United States, which has declined at a CAGR of 2.5 % between 2019 and 2024.
The market size of the Wire & Spring Manufacturing in the US industry in United States has been declining at a CAGR of 1.5 % between 2019 and 2024.
Over the next five years, the Wire & Spring Manufacturing in the US industry in United States is expected to grow.
The biggest companies operating in the Wire & Spring Manufacturing market in United States are Leggett & Platt, Inc., MW Industries Inc. and Peterson American Corporation
Manufacturing light-gauge springs made from purchased wire and Manufacturing heavy-gauge springs from purchased rods are part of the Wire & Spring Manufacturing in the US industry.
The company holding the most market share in United States is Leggett & Platt, Inc..
The level of competition is high and increasing in the Wire & Spring Manufacturing in the US industry in United States.