Industrial Goods refer to products that are manufactured either for commercial use or for private use. These include automobiles, appliances, food items, clothing, tools, musical instruments, machinery, and so on. Industrial goods also include products such as water pumps, steam engines, railroad locomotives, and airplanes. Industrial goods differ from consumer goods because they are manufactured on a large scale, and in most cases, are created to meet the demands of large-scale markets. Examples of such goods that fall into the industrial category are appliances, automobiles, chemical compounds, and many more.
When people talk about industrial goods, what they are really talking about are products that are bought by consumers every day. Consumer goods however are usually ready to be used, for the satisfaction and convenience of human desires, including food or clothing. While industrial goods, on the other hand, are created to be used by large-scale industries, like clothing or food manufacturing, but they can also come in handy for emergency situations. Here are some of the key takeaways that you should understand to know the difference between consumer and industrial goods.
Industrial goods do not involve physical labor. As the name suggests, these are goods that are designed for a specific purpose, which is to be used by another person. The two types of consumer goods that fit this description are manufactured and perform tangible work. For example, consumer goods that have moving parts are generally defined as industrial goods. In this example, the moving parts are what make it run, thus, are considered industrial goods.
On the other hand, consumer products involve physical labor, or the ability to do something. These include food and beverages, clothing, transportation equipment, computer and gaming systems, office supplies, personal household goods, musical instruments, sports equipment, tools, farm and agricultural products, construction materials, financial products, machinery and tools, appliances, packaging materials and parts, and technology. The two sectors in the industrial market differ primarily in distribution. In distribution, industrial goods companies handle raw materials and finished goods such as factory-produced goods, retail merchandise, and finished goods.
Although consumers and industrial goods share some things in common, they are still two different sectors with vastly different working conditions. The U.S. economy is based almost entirely upon consumer goods, while the manufacturing sector of the UK relies almost entirely upon manufactured goods. Both consumer and manufactured goods have the ability to bring about enormous growth to the economies of their respective countries.
While consumer goods include food and beverages, manufactured goods include transport equipment, computer and gaming systems, office supplies, personal household goods, sports equipment, farm and agricultural products, and machinery and tools, the manufacturing sector provides housing, labor, machines, and labor. It also makes electrical and telecommunication equipment, automobiles and other automobiles, textile and fabricated products, petroleum and other petroleum products, and other energy-based goods. The U.S. economy relies almost entirely on consumer goods, while the British economy depends almost exclusively on manufactured goods. Industrial goods refer to those that are produced in the business and can be sold for a profit. The examples include transportation equipment, computer and gaming systems, office supplies, personal household goods, sports equipment, farm and agricultural products, and machinery and tools.