The infant formula shortage of the past few months highlighted the problem of having industries with high market share concentrations. When Abbott Laboratories, which holds nearly 50% of the infant formula manufacturing market, had to recall products and shut down production at one of its plants in February, the other major players were unable to make up for the lost supply. This created a national shortage crisis that has only recently begun to ease.
U.S. antitrust laws in general prohibit monopolies, where one company has exclusive control of the supply or trade. Still, many industries are considered to have high market concentration, where few companies hold nearly the entire market share. This can result in high barriers to entry for new companies and limited competition within an industry, affecting consumers.
Market share concentration can be measured in different ways, but one way is by concentration among the top competitors. To find the industries with the highest market share concentration among the top three companies, 24/7 Wall St. reviewed data provided by industry market research firm IBISWorld.
Some industries have a better distribution among the top three companies, while in others, market concentration is even more pronounced and one competitor holds a considerably higher market share than the other two.
Click here to see industries dominated by just a few companies.
For example, while the top three companies control nearly 90% of the armored vehicle manufacturing market, Oshkosh Corporation’s market share is 35.7%, BAE Systems’ is 28.3%, and General Dynamics Corporation’s is 25.8%. Meanwhile, the top three competitors in the paint stores industry control a smaller 85% of the market, but Sherwin Williams’ market share is a whopping 70.2%, while PPG Industries and Kelly-Moore Paints market shares are far smaller, at 8.0% and 6.7%, respectively. (BAE Systems and General Dynamics are also among the 20 companies profiting the most from war.)
In some industries, two companies, or even one, control most of the market – sometimes evenly and sometimes less so. Among PTFE (Teflon) coating Manufacturers, the Chemours Company and 3M Company hold 50.2% and 42.3% of the market, respectively, for a 92.5% control. Competition is more skewed among online book sellers, where Amazon.com has an 81.3% market share and Apple a mere 4%. (Find out if any of these are among America’s highest paying companies.)
50. Discount department stores
> Market share concentration, top 3 companies: 81.3%
> The TJX Companies Inc. markets share: 35.8%
> Walmart Inc. market share: 27.1%
> Ross Stores, Inc. market share: 18.4%
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49. Online apartment rental services
> Market share concentration, top 3 companies: 81.5%
> Zillow Group, Inc. markets share: 59.9%
> RentPath, LLC market share: 21.6%
> Remaining companies’ market share: <19% combined
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48. Adult & pornographic websites
> Market share concentration, top 3 companies: 81.6%
> Mindgeek LLC markets share: 81.6%
> Remaining companies’ market share: <19% combined
47. Breweries (US)
> Market share concentration, top 3 companies: 81.7%
> Anheuser-Busch Inbev Sa markets share: 54.8%
> Molson Coors Beverage Company market share: 24.9%
> DG Yuengling & Son Inc. market share: 2.0%
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46. Carbon dioxide production
> Market share concentration, top 3 companies: 81.8%
> L’air Liquide, S.A. markets share: 38.6%
> Linde Plc market share: 29.8%
> Air Products And Chemicals, Inc. market share: 13.4%
45. Infant formula manufacturing
> Market share concentration, top 3 companies: 82.0%
> Abbott Laboratories markets share: 49.5%
> Mead Johnson market share: 20.6%
> Perrigo Company PLC market share: 11.9%
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44. Clinical trial data management services
> Market share concentration, top 3 companies: 82.4%
> Oracle Corporation markets share: 36.3%
> Medidata Solutions, Inc. market share: 27.8%
> Bioclinica Inc. market share: 18.3%
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43. Oxygen & hydrogen gas manufacturing (US)
> Market share concentration, top 3 companies: 82.4%
> The Linde Group markets share: 39.6%
> L’air Liquide, S.A. market share: 24.5%
> Linde Plc market share: 18.3%
42. Ophthalmic instrument manufacturing
> Market share concentration, top 3 companies: 82.7%
> Alcon inc. markets share: 54.9%
> Carl Zeiss Meditec Group market share: 13.9%
> Bausch Health Companies Inc. market share: 13.9%
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41. Department stores (US)
> Market share concentration, top 3 companies: 82.8%
> Target Corp markets share: 65.9%
> Macy’s, Inc. market share: 8.9%
> J.C. Penney Company Inc. market share: 8.0%
40. Newswire services
> Market share concentration, top 3 companies: 83.0%
> Cision Ltd. markets share: 44.4%
> Business Wire Inc. market share: 20.2%
> GlobeNewswire Inc. market share: 18.4%
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39. Warehouse clubs & supercenters (US)
> Market share concentration, top 3 companies: 83.2%
> Walmart Inc. markets share: 60.6%
> Costco Wholesale Corp market share: 22.6%
> Remaining companies’ market share: <17% combined
38. Office supply stores (US)
> Market share concentration, top 3 companies: 83.3%
> Staples Inc. markets share: 44.6%
> The Odp Corporation market share: 33.9%
> Acco Brands Corporation market share: 4.8%
37. Pacemaker manufacturing
> Market share concentration, top 3 companies: 83.4%
> Medtronic Plc markets share: 41.0%
> Abbott Laboratories market share: 29.7%
> Boston Scientific Corporation market share: 12.7%
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36. Truck-mounted crane manufacturing
> Market share concentration, top 3 companies: 83.8%
> Link-Belt Cranes LP LLP markets share: 52.1%
> The Manitowoc Company, Inc. market share: 19.5%
> Manitex International, Inc. market share: 12.2%
35. Design, editing & rendering software publishing (US)
> Market share concentration, top 3 companies: 84.1%
> Adobe Inc. markets share: 62.4%
> Autodesk, Inc. market share: 16.6%
> Dassault Systemes Se market share: 5.1%
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34. Gas detection device manufacturing
> Market share concentration, top 3 companies: 84.7%
> Msa Safety Incorporated markets share: 63.4%
> Honeywell International Inc. market share: 15.7%
> Teledyne Technologies Inc. market share: 5.6%
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33. Space vehicle & missile manufacturing (US)
> Market share concentration, top 3 companies: 84.8%
> Raytheon Technologies Corporation markets share: 36.9%
> Boeing Co market share: 29.3%
> Lockheed Martin Corporation market share: 18.6%
32. Helium production
> Market share concentration, top 3 companies: 84.9%
> Linde Plc markets share: 35.0%
> Air Products And Chemicals, Inc. market share: 26.9%
> Messer Group GmbH market share: 23.0%
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31. Paint stores (US)
> Market share concentration, top 3 companies: 84.9%
> Sherwin Williams Co markets share: 70.2%
> Ppg Industries, Inc. market share: 8.0%
> Kelly-Moore Paints market share: 6.7%
30. Online book sales
> Market share concentration, top 3 companies: 85.3%
> Amazon.Com, Inc. markets share: 81.3%
> Apple Inc. market share: 4.0%
> Remaining companies’ market share: <15% combined
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29. Meal kit delivery services
> Market share concentration, top 3 companies: 85.3%
> Hellofresh Se markets share: 62.3%
> Relish Labs LLC market share: 15.6%
> Blue Apron Holdings, Inc. market share: 7.4%
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28. Fire truck manufacturing
> Market share concentration, top 3 companies: 85.5%
> Oshkosh Corporation markets share: 51.3%
> Rev Group, Inc. market share: 24.9%
> Rosenbauer International Ag market share: 9.3%
27. Respiratory protection equipment manufacturing
> Market share concentration, top 3 companies: 85.8%
> Honeywell International Inc. markets share: 35.6%
> 3m Company market share: 33.7%
> Mine Safety Appliances market share: 16.5%
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26. Peer-to-peer lending platforms
> Market share concentration, top 3 companies: 86.1%
> Lendingclub Corp markets share: 38.8%
> Upstart Network, Inc. market share: 24.8%
> On Deck Capital, Inc. market share: 22.5%
25. Syrup & flavoring production (US)
> Market share concentration, top 3 companies: 86.5%
> Coca Cola Co markets share: 58.5%
> Pepsico, Inc. market share: 15.5%
> Keurig Dr Pepper Inc. market share: 12.5%
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24. Online grocery sales
> Market share concentration, top 3 companies: 86.8%
> Walmart Inc. markets share: 41.1%
> Amazon.Com, Inc. market share: 27.2%
> The Kroger Co. market share: 18.5%
23. Social networking sites
> Market share concentration, top 3 companies: 87.2%
> Facebook Inc. markets share: 75.9%
> Linkedin Corp market share: 7.1%
> Twitter, Inc. market share: 4.2%
22. Dialysis centers
> Market share concentration, top 3 companies: 87.3%
> Fresenius Medical Care AG & Co. KGaA markets share: 48.4%
> DaVita HealthCare Partners Inc. market share: 38.9%
> Remaining companies’ market share: <13% combined
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21. Insect repellent manufacturing
> Market share concentration, top 3 companies: 87.4%
> Spectrum Brands Holdings, Inc. markets share: 59.2%
> SC Johnson & Son Inc. market share: 28.2%
> Remaining companies’ market share: <13% combined
20. Online pet food & pet supply sales
> Market share concentration, top 3 companies: 88.2%
> Amazon.Com, Inc. markets share: 44.7%
> Petsmart Inc. market share: 36.5%
> Petco Animal Supplies Inc. market share: 7.0%
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19. Body armor manufacturing
> Market share concentration, top 3 companies: 88.5%
> Point Blank Enterprises Inc. markets share: 54.2%
> Ceradyne, Inc. market share: 19.7%
> Safariland, LLC market share: 14.6%
18. Refrigerated storage (US)
> Market share concentration, top 3 companies: 88.7%
> Xpo Logistics, Inc. markets share: 36.8%
> Lineage Logistics Holdings, LLC market share: 28.7%
> Americold Realty Trust market share: 23.2%
17. Armored vehicle manufacturing
> Market share concentration, top 3 companies: 89.8%
> Oshkosh Corporation markets share: 35.7%
> BAE Systems Plc market share: 28.3%
> General Dynamics Corporation market share: 25.8%
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16. Meat jerky production
> Market share concentration, top 3 companies: 89.9%
> Link Snacks, Inc. markets share: 45.7%
> Conagra Brands, Inc. market share: 32.6%
> Oberto Sausage Company market share: 11.6%
15. Hand sanitizer manufacturing
> Market share concentration, top 3 companies: 90.0%
> Gojo Industries, Inc. markets share: 74.9%
> Vi-Jon Laboratories market share: 15.1%
> Remaining companies’ market share: <10% combined
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14. Water heater manufacturing
> Market share concentration, top 3 companies: 90.3%
> A. O. Smith Corporation markets share: 41.8%
> Rheem manufacturing Company market share: 30.3%
> Bradford White Corporation market share: 18.2%
13. Iron ore mining (US)
> Market share concentration, top 3 companies: 90.7%
> Cleveland-Cliffs Inc. markets share: 61.8%
> United States Steel Corp market share: 28.9%
> Remaining companies’ market share: <10% combined
12. Cable shopping networks
> Market share concentration, top 3 companies: 91.5%
> QVC, inc. markets share: 88.4%
> Imedia Brands, inc. market share: 3.1%
> Remaining companies’ market share: <9% combined
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11. Cigarette & tobacco manufacturing (US)
> Market share concentration, top 3 companies: 92.1%
> Altria Group, Inc. markets share: 48.0%
> Reynolds American Inc. market share: 36.9%
> Imperial Brands Plc market share: 7.2%
10. Tank & armored vehicle manufacturing (US)
> Market share concentration, top 3 companies: 92.4%
> General Dynamics Corporation markets share: 48.5%
> BAE Systems Plc market share: 30.9%
> Oshkosh Corporation market share: 13.0%
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9. PTFE (Teflon) coating manufacturing
> Market share concentration, top 3 companies: 92.5%
> The Chemours Company markets share: 50.2%
> 3M Company market share: 42.3%
> Remaining companies’ market share: <8% combined
8. Wind turbine installation
> Market share concentration, top 3 companies: 93.1%
> General Electric Company markets share: 53.7%
> Vestas Wind Systems A market share: 30.1%
> Siemens Gamesa Renewable Energy market share: 9.3%
7. Home improvement stores (US)
> Market share concentration, top 3 companies: 93.5%
> The Home Depot, Inc. markets share: 52.2%
> Lowe’s Companies Inc. market share: 35.5%
> Menard, Inc. market share: 5.8%
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6. Hydroponic crop farming
> Market share concentration, top 3 companies: 93.7%
> NatureSweet Ltd. markets share: 47.5%
> Houweling’s Tomatoes market share: 30.4%
> Village Farms International Inc. market share: 15.8%
5. Computer manufacturing (US)
> Market share concentration, top 3 companies: 94.7%
> Hp inc. markets share: 53.2%
> Super Micro Computer, Inc. market share: 23.7%
> Dell Technologies Inc. market share: 17.8%
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4. PET scanner manufacturing
> Market share concentration, top 3 companies: 95.2%
> Siemens Ag markets share: 42.5%
> General Electric Company market share: 28.1%
> Koninklijke Philips N.V. market share: 24.6%
3. Rendering & meat byproduct processing
> Market share concentration, top 3 companies: 95.7%
> Darling Ingredients Inc. markets share: 47.3%
> Tyson Foods, Inc. market share: 46.5%
> Baker Commodities, Inc. market share: 1.9%
2. Postal service (US)
> Market share concentration, top 3 companies: 99.1%
> United States Postal Service markets share: 99.1%
> Remaining companies’ market share: <1% combined
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1. Tax preparation software developers
> Market share concentration, top 3 companies: 99.7%
> Intuit Inc. markets share: 92.8%
> H&R Block, Inc. market share: 6.9%
> Remaining companies’ market share: <1% combined
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