Industry can be defined as the production of goods by humans or the mechanical powers for sale. Or simply you can say, industry is a firm of manufacturing or producing useful article with the purpose of selling. An industry includes the production of both producer goods and consumer goods. Consumer goods are the products that are consumed by common people in day today life such as cloth, breads, drugs, and everything we use. Producer goods or capital goods are raw materials, plastic, rubber etc. that are required for the production of consumer goods. After manufacturing, these goods are exported in various countries, which ultimately promotes industrial and economic development of the country.
At present, globalisation has given a broad shape to the industries. The progress of a nation is often measured by its industrial development. Thus, Industries play a critical role in the economic growth of a country. Today, due to globalisation every company is doing overseas business and adding huge revenue to its economy. To survive in the world, every country needs industrialisation, advanced techniques, and unbeatable business tactics. The journey of a small company to the largest industry is a result of all these elements. Here we have listed such industries which have reached the topmost peak of the industrialisation and know very well how to rule the market in 2020.
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10. BP: $226bn
Headquartered in London, this British oil & gas company reaches across the world with its energy system. Formerly known as British Petroleum, this industry provides customers fuel for transport, energy for heat and light, and petrochemical products that are used to make everyday item like paints, cloth, and packaging. Presently BP is the seventh-largest oil & gas company in the world based on market value. Founded in 1908, today BP has expanded its operations in more than 70 countries of which North America and Africa are the most important regions. In 2010, the industry faced the largest accidental oil release in the history causing severe health, economic, and environmental trouble. This Deepwater Horizon Oil Spill created a lot of legal problems too for BP.
9. Apple: $234bn
I think, today this industry has reached to the point where it requires no more a description to boast its quality and brand image. APPLE, this name says it all. With a market cap of $550bn, this industry is often considered as the most prestigious, venerable and valuable company in the world. Having more than one billion consumers globally, this American multinational technology company is dedicated to design, develop, and sell the consumer electronics, computer software, and online services. Founded in 1976, today Apple is the largest technology company by revenue and total asset. With unparalleled revenue growth, from 8 billion in 2004 to more than 230 billion in 2015, you can assume the popularity and loyalty of this brand.
8. Toyota: $237bn
Toyota Motor Corporation is a Japanese multinational automotive manufacturer industry which found its roots in 1937. Standing along with Volkswagen in terms of revenue, today Toyota is second largest automotive manufacturer in the world just behind Volkswagen group. Being the world’s leading producer of hybrid vehicles, it also holds the record of producing more than 10 million vehicles per year since 2012. As of 2014, Toyota has 338,875 employees worldwide making it one of the largest companies in Japan by market capitalization and by revenue. Toyota offers its products to the most part of the world.
7. Volkswagen: $237bn
When in 1937, Adolf Hitler’s revolutionary idea to make “a car for common people” was implemented, nobody knew that this so called “people’s car” is going to rule the world one day. The German automotive company, designing and producing the commercial vehicles, motorcycles, and engines, built its empire today to be the largest automobile industry in the world with 10.3 million units. Headquartered in Wolfsburg, The Company has extended its network in approximately 150 countries of which China is its largest market. Contributing 3% to German GDP, this company is the biggest workplace worldwide employing more than 800,000 people.
6. ExxonMobil: $246bn
ExxonMobil Corporation, the 5th largest publicly traded company by market capitalisation, is an American oil & gas industry based in Irving, Texas. In 1999, two mediocre oil corporations Exxon and Mobil came together and today this collaboration named as ExxonMobil turned out to be one of the largest supermajors (big oil) companies in the world. ExxonMobil is the largest non-governmental company in energy sector producing about 3% of world’s total oil and 2% of total energy. Being the world’s largest refiner, the company owns oil refineries all over the world. Presently, with a staggering market valuation of $374bn, this industry has given a living to more than 70,000 people.
5. Royal Dutch Shell: $272bn
Yet another oil and gas corporation in this list, which got its roots in 1907. Widely known as ‘Shell’, Royal Dutch Shell is a British-Dutch multinational company based in Netherlands. Engaging itself in oil and natural gas production, refinery, distribution, marketing and trading, Shell is the second largest oil company in the world. It is also the world’s largest producer of natural liquefied gas. In 2015, Shell was at its zenith of success being the third largest company in the world by revenue but presently it slipped down in its overall economic as well as global position. Previously it had more than 100,000 employers but now the number has decreased to 92,000.
4. Sinopec Group: $294bn
Asia’s biggest refiner China Petrochemical Corporation or Sinopec Group is an oil and gas enterprise located in Beijing, China. Supplying 80% of China‘s fuel, Sinopec is the second largest oil and gas producer in China. Founded in 1998, Sinopec mainly makes money through its exploration, chemical operations and production divisions. Having a global presence in almost every continent, the company employs more than 135,000 skilled people worldwide. It has been ranked first in 2007 list of top 500 enterprises of China and as number 3 in 2015 fortune global 500 ranking.
3. China National Petroleum Corporation: $299bn
With a whooping revenue of $299bn, China National Petroleum Corporation is in third place in this list. Founded in 1988, China national petroleum corporation is a state owned oil and gas industry based in Beijing, China. The largest integrated company in China, CNPC produces and supplies oil worldwide. With an active presence in 70 countries, the company also sells gasoline through 600 CPC- owned service stations in Taiwan. Recently CNPC has faced a global dramatic fall in oil prices, which has affected the current economy of the industry.
2. State Grid: $330bn
Another Chinese industry in the list. The State Grid of China Corporation came into existence in 2002 and just in15 years it ruled the world being the biggest power utility industry in the world. State Grid’s core business is to build and operate power grids and provide consistent electricity to the society. Supplying electricity to the 88% area of China, the industry is involved in multi smart-grid projects. State Grid is mainly active in China, Philippines, Brazil, Portugal, and Australia. Having more than 927,839 employees and 1.1 billion customers worldwide, the industry hold the massive net worth of $478.5bn.
1. Walmart: $482bn
Walmart Stores! Who hasn’t heard this name right? Well, this name belongs to the world’s largest industry in term of revenue. This American multinational retailing corporation, based in Arkansas, Us, was established in 1962. The industry runs many hypermarkets, department stores, and grocery stores across the world. Presently, being the world’s most valuable company by market value, WalMart has about 11,000 stores in 27 countries. WalMart’s the biggest and most successful businesses over the years include teen sportswear, Halloween candy and Yarn. Being largest grocery retailer in the US, the industry is also world’s largest private employer comprising 2.3 million employees. Interestingly, the company is mentioned over 6000 times daily on social media. With this figure you can assume the popularity of this industry.
Starting a business and reaching to the heights is never easy. It takes a lot of patience, extensive industrialisation and of course exceptional strategies. These top 10 industries adhere these business tactics and are creating uproars in the world with their productions. They’re not only serving the people but also contributing immense to the GDP of their respective country.