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.Assembly required: An increase in the overall economy and a decline in the value of the US dollar are expected to support sector revenue growth
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. 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.
Table of Contents
ABOUT THIS INDUSTRY
INDUSTRY PERFORMANCE
PRODUCTS & MARKETS
COMPETITIVE LANDSCAPE
OPERATING CONDITIONS
KEY STATISTICS
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Boeing Co
- Exxon Mobil Corporation
- Ford Motor Co
- General Motors Company
- Pepsico, Inc.
- Tyson Foods, Inc.
- Johnson & Johnson
Methodology
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