What Are The Most 5 Industries Make More Money

Manufacturing industries occupy a very important place among economic activities of man. Industries which produce both finished and semi-finished products with the knowledge of technology and skills of man, utilizing the raw materials and other factors of production are called manufacturing industries. "During this process goods are produced by using essential raw materials in such a way that a value is attributed to them, so that they would provide maximum utility". With the dawn of the Industrial Revolution during the 18th century there was a revival in the field of industries in many countries of the world. During this period, certain industries which existed as cottage industries were transformed into factories producing high quality industrial goods using machinery and new technological methods.


The Industries Make More Money are


1.Iron and steel industry 
2.Automobile industry 
3.Ship building industry 
4.Electronic industry  
5.Cotton textile industry


Iron and Steel Industry 


The iron and steel industry is a very ancient industry. Due to the Industrial Revolution which began during the latter half of the 18th century, there was an accelerated development in the iron and steel industry. During the early stages, though this industry was located in countries where iron ore, coal and limestone deposits were in abundance, there are also countries where the iron and steel industry is maintained at a highly developed level using imported raw materials. As this industry is decisive in determining the technical strength of a country and in addition as iron and steel are used as a raw material for production of equipment, this industry has an important position. In this industry, basically iron ore is used to produce iron. Pig iron is mixed with other metals and seasoned further to produce steel. During the early stage of the Industrial Revolution, 90% of the raw material used, for production activities in the fields of machinery, electrical products and transport, was iron and steel . Later, when aluminium was discovered, the demand for iron and steel dropped to 65%. Iron and steel industry which is linked to different economic activities in the world is also important as a base industry for many other industries.


Features and trends of the Iron and Steel industry 


1.Diverse qualitative features of Iron and Steel (durability, capacity to bear weight, 2.flexibility, ability to withstand shocks, profitable production) 
3.Ability to improve quality by mixing with other metals (Aluminum, copper) 
4.Ability to recycle after discarding (old iron, scrap iron) 
5.All the countries use iron and steel as a base metal for various products. 
6.Production activities have become modernized after moving away from traditional technology. 
7.Ability to smelt iron using alternative source of energy. For example; an electric 8.furnace could be used as an alternative for smelting iron ore. 
9.Some countries which were prominent in production of iron and steel in the past 10.have gradually receded from the market.  
11.There is a tendency to locate industries based on factors 
As there is an increase in demand for steel from East Asian countries, a new market has been created (China, South Korea). 
12.With the development of electronic technology, various utilities are created. 
Certain countries export steel as well as import steel in the international trade. (For example China and South Korea). such as capital and availability of a market rather than focusing on factors such as availability of iron-ore, raw materials and coal.


The Automobile Industry 


The automobile industry in the world is changing fast. Automobiles which are required for goods and passenger transport are produced by the automobile industry. Further, at present, the automobile industry is showing a tendency to develop as an assembling industry as well. Various parts which are essential for a certain product are manufactured under specialization in different places or countries, are brought to one place and the final product is manufactured in an assembling industry. The basis for this system is the division of labour, specialization and technological advancement.


👉Although the contribution of China towards the production of automobiles during the early period was low, by 2012 China has become the foremost automobile producer in the world.
  
👉Although, The United States of America was the most prominent automobile producer in 1950, by 2012 the position has changed.  

👉Though France was a major producer of automobiles in the period from 1950 to 2000 the position within the first ten producers was lost after 2010. 

👉Asian countries like China, Japan, South Korea, India and Thailand have shown a fast development in the automobile industry by 2012.



1.It is becoming a fast changing industry. 
2.Maximum use of modern technological skills and mechanical labour (robot technology). 
3.Expansion as an assembling industry (like in Taiwan, South Korea, Singapore, Indonesia). 
4.Investment of a large amount of capital. 
5.Production Multi-national Corporations very often own the production rights.



1.Designing special automobiles to suit the goods being transported (eg :- fuel, milk and gas transport bowsers are vehicles that differ from one another).
 
2.Producing vehicles that could ply both on land and water (hovercraft).
 
3.Producing vehicles that could dive in water and vehicles which could change while travelling on land and be air-borne in the form of a light airplane.
 
4.Factors like cheap labour, availability of raw materials, and the presence of foreign markets have led to the fast development of the automobile industry in countries such as Japan, India, South Korea , Singapore and Indonesia.
 
5.Countries that did not produce automobiles in the past are now contributing towards this industry (Sri Lanka). 

6.Installing special electronic components and equipment (sensor) within the vehicle to maximize safety and ensure diverse facilities (for example GPS Technology, radio, television, air-conditioning, refrigerators flexible seats, automated doors and locks, side mirrors, manoeuvering facilities for the disabled, automated main lights , automatic starting and safety systems)
7.Producing eco-friendly vehicles minimizing environmental pollution.
 
8.Countries that have developed the automobile industry have started production factories in other countries.
 
9.Japan has planned to manufacture mostly light and hybrid vehicles (using liquid fuel and electricity) after 2020. 

10.For the economic use of fuel, there is a tendency to produce smaller vehicles



The Ship building Industry 


The ship building industry which has a long history, progressed simultaneously with the development of the iron and steel industry and also with the exploration by the European nations in the latter half of the 18th century. There were a few factors that contributed to the development of the ship building industry in Europe. 

1.The high demand for ships due to explorations by European nations after the Renaissance in Europe and for trade, fishing and warfare activities. 

2.Availability of timber and steel required for ship building. 

3.Availability of indented coasts required to make shipping docks. 

4.State patronage 

In the early stages, ships were built for transporting both passenger and goods. But, with the development of air transport the number of passengers using ships reduced and therefore more attention was directed towards building ships suitable for transporting goods (Cargo ships). However, even at present ultra luxury ships specified for transporting passengers are being built. Ship building industry has undergone several changes and it has gained a huge progress at present.


During the early period, only the developed countries paid attention on the ship building industry. The reasons being given are follows. 

1.The ability to invest a large sum of money as capital. 

2.The availability of iron and steel as raw materials. 

3.Having a great reputation and experience.  


Trends and features in the ship building industry 

1.Building special ships to carry passengers or varied commodities. 

2.Building large ultra- luxury passenger liners. 

3.Building small ultra- luxury yachts according to orders placed. 

4.Building ships for various purposes (like warfare, exploration of oceans, fisheries production factories and libraries). 

5.Though iron and steel were used as raw materials in the past, today light metals and different types of fibre and other substitutes are used to build lighter sailing vessels. 

6.Development as an assembling industry. 

7.Utilizing more mechanized labour (robots and machine technology) than human labour.


8.Changes in the energy sources used in ship building (such as coal, mineral oil and nuclear power). 

9.Newly industrialized countries like China and South Korea have competed with the traditional ship building countries and come to the forefront. 

10.Developed technological systems like the GPS system have been added to the shipping sector. 

11.Though ships were used more for passenger transport in the past, they are used mostly for transporting goods at present. 

12.There is a rising demand for oil tankers, bulk carriers and container transport liners.



The Electronic Industry 

Manufacture of commodities like radio, television sets, computers, transistors, communication equipment and electronic equipment come under the production of electronic goods



China has emerged as a powerful country in the Asian region in the field of electronic industry, within the period of 2000 – 2010. The income of china has risen from RMB billions 604 to RMB billions 6362 with the continuous development of the electronic industry during this period.


Features and trends of the electronic industry 

1.A large amount of capital has been invested. 

2.Research continues till the final product is brought out and twice the amount of money is spent on production research linked to the industry rather than on the production itself. 

3.Most of the workers include scientists, engineers, skilled technicians, and research personnel. 

4.Half the personnel in the service industry are engaged in the fields of research and development. 

5.Contribution to the production and ownership mostly belong to Multi-national Corporations. 

6.Day by day, new products are launched to meet the competitive market. (For example- mobile phones, television sets and cameras) 

7.Very complex subtle equipment and appliances are produced (Video equipment, chips and cameras) 

8.The same countries that export electronic appliances also import the same products from other countries. 

9.Maintained as an assembling industry. 

10.In addition to the production and trade of electronic equipment, a market for by- products too has been created . (For example- creation of virus for computers, virus guard systems and the necessity to update those systems, magnetic disks, magnetic discs like CDs and DVDs)


The Cotton Textile Industry 

With the ‘Industrial Revolution’ which occurred in Europe during the 18th century, production of cotton textiles, expanded as a formal and organized industry. At that time, Britain gained a monopoly over this industry. However later, the cotton textile industry expanded in countries like China, India, Japan and Egypt due to the following factors, 

1.Possibility of growing cotton easily. 

2.Possibility of importing cotton from other countries. 

3.Availability of cheap labour. 

4.Presence of modern technology. 

5.Availability of the market. 




The features and trends of the cotton textile industry 

1.The cotton textile industry has a long history. 

2.Maintained on agro-based material. 

3.Though in the past, the cotton textile industry was carried out by importing raw material from cotton growing countries, at present cotton growing countries too have entered the industry. 

4.Though European countries were the pioneers of cotton textile producers in the past, by the second half of the 21st century, East Asian countries too have emerged as foremost producers. 

5.As the cotton textile industry has become fully mechanized, high quality textiles are being produced. 

6.Diverse textiles of high quality are produced by mixing cotton with other fibres (synthetic-fiber, wool and flax). 

7.Being an eco-friendly production. 

8.The emergence of a by-product industry which includes dyeing of textiles and production of garments.  



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