What are the Different Types of Industries with Examples
Industry refers to the production of goods and services by converting the inputs into outputs and or creation of utilities to customers. Goods produced by an industry are used either by consumers to satisfy their wants and needs or by other industries for further production. An industry may refer to an extraction, generation, conversion or production of goods and services or construction of building products for a certain price. According to the process of production and the nature of the products, an industry can be divided into the following categories.
Primary industries refers to the creation of utilities by extracting materials form natural resources or the growth and development of vegetation and animals by means of reproduction process, Primary industries are further classified as extractive and genetic industries.
- Extractive industry
It refers to the extraction or drawing out goods from the natural resources like land, water, air etc. and creation of utilities in them. It supplies raw materials to other types of industries. Mining, lumbering, hunting, fishing etc. are the examples of this sort of industry.
- Genetic industry
It is related to the growth and development of flora and fauna by multiplying a certain species of plants and breeding of animals. Plant nurseries, forestry, farming, animal husbandry, poultry etc. are the examples of genetic industry.
The industries, which produce finished goods by the use of materials and supplies taken from the primary industries are known as secondary industries. Such industries convert raw materials and semi raw materials into finished products by way of processing the materials, assembling components, constructing building products etc.
According to the process applied and the nature of the product, these industries are divided into the following two types.
Manufacturing industry.Generally the term industry refers to the manufacturing industry. It is concerned to the production of goods by using raw materials or semi raw materials an input and also creates from utility in them. Production of sugar from sugarcane, petroleum products from the crude oil manufacturing vehicles by assembling various components etc. are some of the examples of this sort of industry. It is again divided into four types.
- Analytical industry
This industry relates to the analyzing and separating different components from a single materials. For example, crude oil processed and separated into petrol, diesel, kerosene etc.
- Synthetic industry
This industry relates to the putting of various raw materials together to make a final product. For examples, cement is produced by mixing concrete, gypsum, coal etc. together.
- Processing industry
An industry, which produces the final products by using raw materials and semi raw materials through different stages of production is known as processing industry. Textile industry, paper and sugar mills etc are some of the examples of this sort of industry.
- Assembling industry
It refers to that industry which assembles various component parts that are already manufactured to make a new product. Manufacturing vehicles, electric equipment etc. are some of the examples of this type of industry.
- Construction industry
The industries, which are concerned to the engineering, erecting and construction of building products are known as construction industries. They use materials produced by other industries like cement, iron rods, concrete, bricks etc. Their distinctive characteristic is that the products of such industries are not generally sold in the ordinary market but built at a certain place and transferred its ownership or it is constructed as the order of the customer at said site/place. Construction of bridges, roads, dams, canals, building etc are the examples of construction industry.
- Analytical industry
Service industries are those industries, which do not produce physical goods but create utility services and sell them for a price. Nursing home services, film industries, traveling and lodging services etc. are the examples of service industries.