Manufacturing in the US - Industry Market Research Report

Manufacturing in the US - Industry Market Research Report

Manufacturing in the US

The Manufacturing sector has been experiencing a revenue decline at a CAGR of 0.4% to $7.0 trillion over the past five years, including an estimated 2.0% decline in 2023, while profit is projected to fall to 8.0%. The outbreak of COVID-19 had a negative effect on the sector, but it recovered with the rollout of vaccines and stimulus money in 2021. In 2022, revenue continued to grow, but at a slower rate, driven by a favorable international trade climate and growth in the US GDP. However, manufacturing revenue is forecast to decline in 2023 because of rising interest rates and high uncertainty. The sector remains vital to the US economy, but its importance has been declining as the economy becomes more service-oriented and manufacturers offshore production to countries with lower labor costs.

The Manufacturing sector includes operators engaged in the transformation of raw inputs into new products using mechanical, physical or chemical processes. Additionally, assemblage of component parts into new, complex goods is included in this sector, except where they should be considered construction (IBISWorld report 23). Goods may be sold directly to end users or to wholesalers for redistribution. Harvesting, extraction, resale and publishing are also not included in this sector.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.