5 Competitors in the Manufacturing Industry Business
The manufacturing industry is booming globally, and therefore, several businesses are making their way to the top in terms of revenue and growth in various sectors like automotive, healthcare, technology, etc. For instance, whether it’s about providing precision metal stamping or innovative plastic solutions, Beyonics Technology ensures flexibility to customers with advanced manufacturing processes.
In this article, we’ll talk about 5 competitors in the manufacturing industry business worldwide to educate you and help you get inspired. Read below to explore!
Founded in 1976, Apple is based in California, USA, and is one of the highest-earning revenue and profit companies in the world. It has a great brand reputation and a positive public perception, therefore, holds greater value.
It is involved in designing, manufacturing, and selling computer software, electronics, and relevant online services. What’s incredible about this company is that it boasts an advanced supply chain and logistics, which doesn’t require it to hold any inventory and allows it to launch large-scale products in the market in a cinch.
Apple Company even introduced Gorilla Glass technology through its iPhones by investing $200 million in Corning, Inc. to make consumers’ investments more worthwhile.
Established in 1937 with headquarters in Wolfsburg, Germany, Volkswagen Group is a well-known multinational automotive manufacturing company in the world. As of 2021, it boasted a whopping 250.2 billion EUR in revenue!
It designs, produces, and sells personal and commercial automobiles like motorbikes, cars, trucks, and engines. It is one of the top automakers in the EU and operates in more than 150 countries worldwide. Some of its products, such as Audi, Bugatti, Lamborghini, Bentley, Porsche, and Volkswagen, are quite popular around the globe.
Toyota Group is a Japanese-based company that has been operating since 1937. As of 2021, it generated $255.81 billion in revenue, making it one of the biggest production companies in the world. It’s important to note that it isn’t a single company but a “group of companies”, which includes Toyota automobile facilities and Toyota industries.
Putting innovation at its forefront, it even has taken the initiative in the hybrid and electric vehicle trend while boosting the overall revenue stream. Its product line features plug-in hybrids, SUVs, luxury vehicles, motorsport vehicles, and buses.
Launched in 1938, Samsung is a South Korean company that greatly produces a variety of electronic devices. In addition to digital media devices, it specializes in appliances, semiconductors, integrated systems, and memory chips.
As of 2021, its total revenue amounted to $240.71 billion! What’s great about this company is that it is also actively involved in a range of sustainability and climate change initiatives. Some of its clients are world-renowned companies such as Apple, Dell, HP, and Verizon.
Ford Motor Company
Headquartered in Michigan, USA, in 1903, Ford Motor Company is an automaker that’s involved in the manufacturing and distribution of an extensive range of cars such as trucks, automobiles, trucks, and more. Along with this, it actively takes part in environmental and sustainability activities.
In 2021, Ford Motor Company generated a revenue of $136.3 billion, making it secure a place in the list of 10 largest manufacturing companies around the globe.