Copier & Optical Machinery Manufacturing in the US - Market Research Report (2014-2029)
New York, United States
Last Updated: April 2024
NAICS 33331Revenue
$28.2bn
Past 5-Year Growth
Profit
$X.Xbn
Employees
73,625
Businesses
1,669
Wages
$X.Xbn
Copier & Optical Machinery Manufacturing in the US industry analysis
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.
Trends and Insights
- Trade plays a critical role in the industry. The pandemic in 2020 significantly impaired international trade, both at the export and import levels.
- 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 accounted for a larger share of industry revenue.
- 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.
- Import penetration is the main source of external competition for the industry. Imports satisfy nearly half of all domestic demand.
Industry Overview
Market size and recent performance (2014-2029)
Industry revenue has declined at a CAGR of 2.3 % over the past five years, to reach an estimated $28.2bn in 2024.
Trends and Insights
Import penetration and international trade
- Trade plays a critical role in the industry.
- Additional trends and insights available with purchase
Source: IBISWorld
Industry outlook (2024-2029)
Market size is projected to grow over the next five years.
Trends and Insights
Demand for products will pick up
- Catalysts for industry demand through the end of 2028 will include corporate profit and aggregate private investment. An anticipated jump in corporate profit will spur investments in new machinery and equipment.
Biggest companies in the Copier & Optical Machinery Manufacturing in the US
| Company | Market Share (%)
2023 | Revenue ($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 |
To view the market share and analysis for all 83 top companies in this industry, view purchase options.
Products & Services Segmentation
Source: IBISWorld
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.
Trends and Insights
Optical instruments and lens manufacturing
- More than half of segment revenue is generated from the sale of miscellaneous optical instruments, including binoculars and telescopes.
- More insights available in the full report
Widen you competitive advantage with related industries
Competitors
- Computer Manufacturing in the US
- Vacuum, Fan & Small Household Appliance Manufacturing in the US
- Art & Office Supply Manufacturing in the US
Complementors
- Plastic Products Miscellaneous Manufacturing in the US
- Glass Product Manufacturing in the US
- Hand Tool & Cutlery Manufacturing in the US
- Glasses & Contact Lens Manufacturing in the US
International industries
- Global Consumer Electronics Manufacturing
- Photographic and Optical Goods Manufacturing in Australia
- Camera Equipment Manufacturing in China
Table of Contents
About this industry
Industry definition
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.
What's included in this industry?
Manufacturing other commercial and service-industry equipment, including commercial-type cooking equipmentManufacturing industrial floor cleaners and electronic teaching machinesManufacturing automotive maintenance equipment (excluding hand tools)Manufacturing optical instruments and lenses, including sighting, tracking and fire-control equipmentManufacturing office machinery and related parts and attachmentsManufacturing photographic and photocopying machinery, including projectors and camerasManufacturing automatic vending machinesManufacturing commercial laundry and dry-cleaning machineryCompanies
Rinnai CorporationEmerson Electric Co.Miele, Inc.Purchase this report to view all 83 major companies in this industry.
Related Terms
RESEARCH AND DEVELOPMENTOFFSHORINGMERGERS AND ACQUISITIONSIndustry Code
NAICS 33331 - Copier & Optical Machinery Manufacturing in the US
Performance
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Analyst insights
Trade plays a critical role in the industry. The pandemic in 2020 significantly impaired international trade, both at the export and import levels.
In this chapter (4)
- Current Performance
- Outlook
- Volatility
- Life Cycle
Key metrics
- Annual Revenue, Recent Growth, Forecast, Revenue Volatility
- Number of Employees, Recent Growth, Forecast, Employees per Business, Revenue per Employee
- Number of Businesses, Recent Growth, Forecast, Employees per Business, Revenue per Business
- Total Profit, Profit Margin, Profit per Business
Charts
- Revenue, including historical (2014-2023) and forecast (2024-2029)
- Employees, including historical (2014-2023) and forecast (2024-2029)
- Businesses, including historical (2014-2023) and forecast (2024-2029)
- Profit, including historical (2014-2024)
- Industry Volatility vs. Revenue Growth
- Industry Life Cycle
Detailed analysis
- Trends in supply, demand and current events that are driving current industry performance
- Expected trends, economic factors and ongoing events that drive the industry's outlook
- Key success factors for businesses to overcome volatility
- How contribution to GDP, industry saturation, innovation, consolidation, and technology and systems influence the industry's life cycle phase.
Products and Markets
Learn about an industry's products and services, markets and trends in international trade.
Analyst insight
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...
In this chapter
- Products & Services
- Major Markets
- International Trade
Key metrics
- Largest market segment and value in 2024
- Product innovation level
- Total imports, level and trend
- Total exports, level and trend
- Trade Balance
Charts
- Products & services segmentation in 2024
- Major market segmentation in 2024
- International trade, including imports by country and exports by country
Detailed analysis
- Trends impacting the recent performance of the industry's various segments
- Innovations in the industry's product or service offering, specialization or delivery method
- Key factors that successful businesses consider in their offerings
- Buying segments and key trends influencing demand for industry products and services
- Recent trends in import and export volumes, country of origin or destination, and expected future trends
Geographic Breakdown
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Analyst insights
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.
In this chapter (1)
- Business Locations
Charts
- Share of revenue, establishment, wages and employment in each state
- Share of population compared to establishments in each region in 2024
Tables
- Number and share of establishments in each state in 2024
- Number and share of revenue each state accounts for in 2024
- Number and share of wages each state accounts for in 2024
- Number and share of employees in each state in 2024
Detailed analysis
- Geographic spread of the industry across North America, and trends associated with changes in the business landscape
- Key success factors for businesses to use location to their advantage
Competitive Forces
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.
Analyst insights
Import penetration is the main source of external competition for the industry. Imports satisfy nearly half of all domestic demand.
In this chapter (4)
- Concentration
- Barriers to Entry
- Substitutes
- Buyer & Supplier Analysis
Key metrics
- Industry concentration level
- Industry competition level and trend
- Barriers to entry level and trend
- Substitutes level and trend
- Buyer power level and trend
- Supplier power level and trend
Charts
- Market share concentration among the top 4 suppliers from 2019-2024
- Supply chain including upstream supplying industries and downstream buying industries, flow chart
Detailed analysis
- Factors impacting the industry’s level of concentration, such as business distribution, new entrants, or merger and acquisition activity.
- Key success factors for businesses to manage the competitive environment of the industry.
- Challenges that potential industry entrants face such as legal, start-up costs, differentiation, labor/capital intensity and capital expenses.
- Key success factors for potential entrants to overcome barriers to entry.
- Competitive threats from potential substitutes for the industry’s own products and services.
- Key success factors for how successful businesses can compete with substitutes.
- Advantages that buyers have to keep favorable purchasing conditions.
- Advantages that suppliers have to maintain favorable selling conditions.
- Key success factors for how businesses can navigate buyer and supplier power.
Companies
Learn about the performance of the top companies in the industry.
Analyst insights
Welbilt, a manufacturer of commercial cooking equipment, dominates this category for miscellaneous commercial and service machinery. Xerox holds a large proportional share of...
In this chapter
- Market Share Concentration
- Companies
- Company Spotlights
Charts
- Industry market share by company in 2020 through 2024
- Major companies in the industry, including market share, revenue, profit and profit margin in 2024
- Overview of Rinnai Corporation's performance by revenue, market share and profit margin from 2018 through 2024
- Overview of Emerson Electric Co.'s performance by revenue, market share and profit margin from 2018 through 2024
- Overview of Miele, Inc.'s performance by revenue, market share and profit margin from 2018 through 2024
- Overview of revenue, market share and profit margin trend for 80 additional companies
Detailed analysis
- Description and key data for Rinnai Corporation, and factors influencing its performance in the industry
- Description and key data for Emerson Electric Co., and factors influencing its performance in the industry
- Description and key data for Miele, Inc., and factors influencing its performance in the industry
- Description, key data and performance trends for 80 additional companies
External Environment
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Analyst insights
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...
In this chapter
- External Drivers
- Regulation & Policy
- Assistance
Key metrics
- Regulation & policy level and trend
- Assistance level and trend
Charts
- Regulation & Policy historical data and forecast (2014-2029)
- Assistance historical data and forecast (2014-2029)
Detailed analysis
- Demographic and macroeconomic factors influencing the industry, including Regulation & Policy and Assistance
- Major types of regulations, regulatory bodies, industry standards or specific regulations impacting requirements for industry operators
- Key governmental and non-governmental groups or policies that may provide some relief for industry operators.
Financial Benchmarks
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Analyst insights
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...
In this chapter
- Cost Structure
- Financial Ratios
- Key Ratios
Key metrics
- Profit margin, and how it compares to the sector-wide margin
- Average wages, and how it compares to the sector-wide average wage
- Largest cost component as a percentage of revenue
- Industry average ratios for days' receivables, industry coverage and debt-to-net-worth ratio
Charts
- Average industry operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2024
- Average sector operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2024
- Investment vs. share of economy
Data tables
- Industry Multiples (2017-2022)
- Industry Tax Structure (2017-2022)
- Income Statement (2017-2022)
- Balance Sheet (2017-2022)
- Liquidity Ratios (2017-2022)
- Coverage Ratios (2017-2022)
- Leverage Ratios (2017-2022)
- Operating Ratios (2017-2022)
- Cash Flow & Debt Service Ratios (2014-2029)
- Revenue per Employee (2014-2029)
- Revenue per Enterprise (2014-2029)
- Employees per Establishment (2014-2029)
- Employees per Enterprise (2014-2029)
- Average Wage (2014-2029)
- Wages/Revenue (2014-2029)
- Establishments per Enterprise (2014-2029)
- IVA/Revenue (2014-2029)
- Imports/Demand (2014-2029)
- Exports/Revenue (2014-2029)
Detailed analysis
- Trends in the cost component for industry operators and their impact on industry costs and profitability
Key Statistics
Industry Data
Data Tables
Including values and annual change:
- Revenue (2014-2029)
- IVA (2014-2029)
- Establishments (2014-2029)
- Enterprises (2014-2029)
- Employment (2014-2029)
- Exports (2014-2029)
- Imports (2014-2029)
- Wages (2014-2029)
Methodology
How are IBISWorld reports created?
IBISWorld has been a leading provider of trusted industry research for over 50 years to the most successful companies worldwide. With offices in Australia, the United States, the United Kingdom, Germany and China, we are proud to have local teams of analysts that conduct research, data analysis and forecasting to produce data-driven industry reports.
Our analysts start with official, verified and publicly available sources of data to build the most accurate picture of each industry. Analysts then leverage their expertise and knowledge of the local markets to synthesize trends into digestible content for IBISWorld readers. Finally, each report is reviewed by one of IBISWorld’s editors, who provide quality assurance to ensure accuracy and readability.
IBISWorld relies on human-verified data and human-written analysis to compile each standard industry report. We do not use generative AI tools to write insights, although members can choose to leverage AI-based tools within the platform to generate additional analysis formats.
What data sources do IBISWorld analysts use?
Each industry report incorporates data and research from government databases, industry-specific sources, industry contacts, and our own proprietary database of statistics and analysis to provide balanced, independent and accurate insights.
Key data sources in the US include:
- US Census Bureau
- US Bureau of Labor Statistics
- US International Trade Commission
Analysts also use industry specific sources to complement catch-all sources, although their perspective may focus on a particular organization or representative body, rather than a clear overview of all industry operations. However, when balanced against other perspectives, industry-specific sources provide insights into industry trends.
These sources include:
- Industry and trade associations
- Industry federations or regulators
- Major industry players annual or quarterly filings
Finally, IBISWorld’s global data scientists maintain a proprietary database of macroeconomic and demand drivers, which our analysts use to help inform industry data and trends. They also maintain a database of statistics and analysis on thousands of industries, which has been built over our more than 50-year history and offers comprehensive insights into long-term trends.
How does IBISWorld forecast its data?
IBISWorld’s analysts and data scientists use the sources above to create forecasts for our proprietary datasets and industry statistics. Depending on the dataset, they may use regression analysis, multivariate analysis, time-series analysis or exponential smoothing techniques to project future data for the industry or driver. Additionally, analysts will leverage their local knowledge of industry operating and regulatory conditions to impart their best judgment on the forecast model.
IBISWorld prides itself on being a trusted, independent source of data, with over 50 years of experience building and maintaining rich datasets and forecasting tools. We are proud to be the keystone source of industry information for thousands of companies across the world.
Learn more about our methodology and data sourcing on the Help Center.
Frequently Asked Questions
Unlock comprehensive answers and precise data upon purchase. View purchase options.
What is the market size of the Copier & Optical Machinery Manufacturing in the US industry in United States in 2024?
The market size of the Copier & Optical Machinery Manufacturing in the US industry in United States is $28.2bn in 2024.
How many businesses are there in the Copier & Optical Machinery Manufacturing in the US industry 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.
Has the Copier & Optical Machinery Manufacturing in the US industry in United States grown or declined over the past 5 years?
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.
What is the forecast growth of the Copier & Optical Machinery Manufacturing in the US industry in United States over the next 5 years?
Over the next five years, the Copier & Optical Machinery Manufacturing in the US industry in United States is expected to grow.
What are the biggest companies in the Copier & Optical Machinery Manufacturing in the US market in United States?
The biggest companies operating in the Copier & Optical Machinery Manufacturing market in United States are Rinnai Corporation, Emerson Electric Co. and Miele, Inc.
What does the Copier & Optical Machinery Manufacturing in the US in United States include?
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.
Which companies have the highest market share in the Copier & Optical Machinery Manufacturing in the US in United States?
The company holding the most market share in United States is Rinnai Corporation.
How competitive is the Copier & Optical Machinery Manufacturing in the US industry in United States?
The level of competition is moderate and steady in the Copier & Optical Machinery Manufacturing in the US industry in United States.
