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Manufacturing: Machinery in the U.S. 2022

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Industrial Gears Background

The demand for machines in the U.S. by the automotive, construction, and food sectors, for example, ensures revenues within the machinery industry. In 2022, the estimated revenue of the industry was US$337.9 billion.

Executive Summary

• Industry revenue to increase by 1.8% p.a. from 2022 to 2026

• With a revenue of US$321.5 billion, “Manufacturing: Machinery” ranked 13th among all industries in 2021

• Caterpillar registered the largest revenue in 2021

• The number of establishments decreased by 1.7% in 2019

• The number of employees increased by 0.2% p.a. from 2011 to 2021

• The annual mean wage is increased by 2.2% from 2015 to 2021

• Mechanical Engineers earn the highest wages in the industry

• 9,631 patents originating from the U.S. are in the machinery sector in 2021

• Machinery sector made up about 1.3% of the total trademark applications from the U.S. in 2020

Table of Contents
Introduction
Financial Numbers
Companies 
Employees and Salaries
Research and Development
Appendix

1. Introduction

Pandemic developments in the United States
In the United States, fiscal measures in response to the pandemic have reached US$5,856.28 billion since January 2020
Global pandemic
The United States is expected to have 25 railway passenger-km per capita in 2024
In 2020, the transportation sector accounted for 27.3% of total emissions in the U.S.

2. Financial Numbers

Industry revenue to increase by 1.8% p.a. from 2022 to 2026
"Industrial machinery manuf." grew by 3.5% in 2021, which was slower than the industry average
With a revenue of US$321.5 billion, "Manufacturing: Machinery" ranked 13th in 2021
FDI in this industry amounted to US$104,112 million in 2021
"Manufacturing" to contribute 11.0% to the GDP in 2022
Value added by the 'Manufacturing: Machinery' industry to grow by 14.5% from 2021-2022 which is higher than all industries combined
In 2021, Texas had the highest added value in this industry
The revenue is expected to increase from 2021 to 2027
The United States generated a revenue of $616m in 2021

3. Companies

Caterpillar registered the largest revenue in 2021
The number of establishments decreased by 1.7% in 2019
In 2019, 2,896 establishments were active in "Agriculture, Construction, and Mining Machinery Manufacturing"
The number of establishment births decreased by 19.4% in 2019
The number of establishment deaths increased by 12.5% in 2019

4. Employees and Salaries

The number of employees increased by 0.2% p.a. from 2011 to 2021
The share of employment for "Manufacturing" amounted to 8.5% in 2021
The number of full-time employees decreased by 6.8% p.a. from 2013 to 2020
Working hours in the industry were above the private industry level in 2021
The unemployment rates in the industry were lower than the sector rates in 2021
The annual mean wage increased by 2.7% from 2016 to 2021
Mechanical Engineers earn the highest wages in the industry
Female employees earn less than male employees
36,817 bachelor degrees were awarded in "Mechanical engineering" in 2019
Job automation is shaping the future of work across all industries

5. Research and Development

In the machinery sector, the R&D intensity was 4.25% in 2021
9,631 patents originating from the U.S. are in the machinery sector in 2021
The machinery sector made up about 1.3% of the total trademark applications from the U.S. in 2020

6. Appendix

Authors
Data, classifications, and methods used in this report
About the forecasting methods

Source from Statista

The information set forth above is provided by Statista independently of Alibaba.com. Alibaba.com makes no representation and warranties as to the quality and reliability of the seller and products.

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