In this blog post, we will delve into the latest statistics and trends of the Industrial Manufacturing industry. From production outputs to employment numbers, we will analyze the data to provide a comprehensive overview of this critical sector of the economy. Join us as we explore the numbers behind one of the key pillars of modern industrial production.
The Latest Industrial Manufacturing Industry Statistics Explained
The global manufacturing industry is expected to reach a value of $13,643.3 billion in 2021, growing at a compound annual growth rate (CAGR) of 8.8%.
The statistic provided suggests that the global manufacturing industry is forecasted to achieve a total value of $13,643.3 billion by the end of 2021. This indicates a remarkable growth rate in the industry, with a compound annual growth rate (CAGR) of 8.8%. The CAGR of 8.8% implies that the industry’s value is expected to increase by an average of 8.8% annually over a certain period, showcasing the industry’s strong potential for expansion and development. This growth rate signals positive momentum for the global manufacturing sector, indicating opportunities for increased production, investments, and economic prosperity within the industry.
Asia Pacific accounts for around 46% of the global manufacturing industry.
The statistic that Asia Pacific accounts for around 46% of the global manufacturing industry indicates the significant role that this region plays in the global manufacturing sector. With countries like China, Japan, South Korea, and India being major manufacturing hubs, Asia Pacific has emerged as a powerhouse when it comes to producing goods. This high percentage reflects the region’s large share of global manufacturing output, driven by factors such as lower production costs, skilled labor force, technological advancements, and favorable government policies. Companies worldwide often rely on Asia Pacific for manufacturing and sourcing activities, making it a key player in shaping the global economy.
Shipments of manufacturing industries in the US were just over $5.6 trillion in 2019.
The statistic stating that shipments of manufacturing industries in the US were just over $5.6 trillion in 2019 indicates the total value of goods produced and shipped by manufacturing companies in the United States during that year. This figure reflects the significant economic contribution of the manufacturing sector to the overall economy, highlighting its importance in generating revenue and driving economic growth. By quantifying the immense scale of manufacturing output, this statistic provides insight into the size and scope of the manufacturing industry in the US and its impact on the nation’s GDP.
Manufacturing has the highest multiplier effect of any economic sector, with $1.00 spent in manufacturing resulting in an additional $1.82 in economic output.
The statistic stating that manufacturing has the highest multiplier effect of any economic sector means that for every $1.00 spent within the manufacturing sector, an additional $1.82 of economic output is generated throughout the economy. This indicates that manufacturing plays a crucial role in stimulating economic growth and generating additional economic activity beyond its initial spending. The multiplier effect in manufacturing is attributed to various factors such as the creation of jobs, demand for raw materials and services, innovation, and the interconnected nature of the supply chain. As a result, investments in the manufacturing sector have the potential to have a significant and far-reaching impact on the overall economy.
The automotive industry is the largest manufacturing sector in the U.S
The statistic ‘The automotive industry is the largest manufacturing sector in the U.S.’ indicates that among all the manufacturing sectors in the United States, the automotive industry holds the top position in terms of its size and economic significance. This sector encompasses a wide range of activities involved in the design, production, and sale of vehicles, parts, and accessories. The fact that it is the largest manufacturing sector implies that it contributes significantly to the overall production output, employment, and economic growth of the country. The automotive industry’s prominence underscores its importance in driving innovation, investment, and competitiveness within the U.S. manufacturing landscape.
There were approximately 12.75 million manufacturing jobs in the U.S in 2020.
The statistic that there were approximately 12.75 million manufacturing jobs in the U.S. in 2020 indicates the total number of individuals employed in the manufacturing sector during that year. This figure serves as a key indicator of the importance of the manufacturing industry to the U.S. economy, highlighting the significant contribution of this sector to job creation and economic output. Analyzing trends in manufacturing employment can provide valuable insights into the overall health and competitiveness of the U.S. economy, impacting factors such as consumer spending, trade balances, and technological innovation. Additionally, fluctuations in manufacturing employment may influence government policies and business strategies aimed at supporting and enhancing this critical sector.
In 2019, Industrial Manufacturing accounted for 16% of global energy use.
The statistic “In 2019, Industrial Manufacturing accounted for 16% of global energy use” indicates that in the year 2019, the industrial manufacturing sector consumed approximately 16% of the total energy used worldwide. This highlights the substantial energy consumption associated with industrial manufacturing activities, which often involve the operation of machinery, factories, and other energy-intensive processes. Understanding this statistic is crucial for policymakers, energy planners, and industry stakeholders to develop strategies aimed at improving energy efficiency in the industrial sector, reducing environmental impact, and fostering sustainable energy practices to mitigate the sector’s significant contribution to global energy consumption and associated challenges such as climate change.
China is expected to surpass the US in manufacturing output by 2030.
The statistic “China is expected to surpass the US in manufacturing output by 2030” indicates that, based on current trends and projections, China’s manufacturing sector is anticipated to outpace that of the United States in terms of total output by the year 2030. This suggests that China is likely to increase its production capacity and efficiency to a level that exceeds that of the US within the next decade, potentially becoming the largest manufacturing economy in the world. Factors driving this shift may include China’s large population, heavy investment in infrastructure and technology, and evolving global trade dynamics. The implications of this shift could have significant economic and geopolitical consequences, influencing aspects such as trade balances, competitiveness, and global supply chains.
Manufacturing accounts for over 60% of the U.S. exports.
The statistic that manufacturing accounts for over 60% of the U.S. exports indicates the significant contribution of the manufacturing sector to the U.S. economy’s international trade. This high percentage suggests that the manufacturing industry plays a crucial role in driving the country’s exports and, consequently, supports economic growth and job creation. It highlights the competitive advantage and strong global presence of U.S. manufacturing companies, which are able to produce goods sought after in international markets. This statistic emphasizes the importance of the manufacturing sector in maintaining a favorable trade balance for the United States and underscores the sector’s importance in the overall economic landscape.
Approximately 22% of all manufacturing workers in the United States have a science, technology, engineering, or mathematics (STEM) degree.
The statistic indicates that about 22% of all manufacturing workers in the United States possess a science, technology, engineering, or mathematics (STEM) degree. This suggests that a significant portion of the manufacturing workforce has undergone specialized education in fields related to STEM. Having a STEM degree typically signifies a higher level of technical knowledge and expertise, which could enhance the productivity, innovation, and technological capabilities in the manufacturing sector. This statistic highlights the importance of STEM education in the manufacturing industry and underscores the potential impact that workers with STEM backgrounds can have on the advancement and competitiveness of the sector as a whole.
In 2020, U.S. manufacturers consumed $6.8 billion worth of semiconductors.
The statistic “In 2020, U.S. manufacturers consumed $6.8 billion worth of semiconductors” indicates the total monetary value of semiconductors purchased and utilized by manufacturers in the United States throughout the year 2020. Semiconductors are crucial components in the production of various electronic devices including smartphones, computers, and automobiles, among others. The $6.8 billion expenditure on semiconductors reflects the significant reliance of U.S. manufacturers on these electronic parts for their operations and emphasizes the importance of the semiconductor industry to the overall economy. This statistic highlights the substantial investment made by manufacturers in acquiring semiconductors to support their production processes and meet consumer demand for electronic products.
The European Union’s manufacturing industry produces around 15.6% of the world’s manufactured goods.
The statistic stating that the European Union’s manufacturing industry produces approximately 15.6% of the world’s manufactured goods implies that the EU holds a significant share in the global manufacturing sector. This suggests that the EU is a major player in the production of goods on a global scale, highlighting its industrial output and economic significance. The statistic reflects the competitive advantage and capacity of the EU’s manufacturing sector, indicating its importance in the global economy and trade. This statistic underscores the EU’s contribution to the overall production and supply of manufactured goods worldwide.
The average manufacturing worker in the United States earned $87,185 in 2019, including pay and benefits.
The statistic indicates that, on average, manufacturing workers in the United States received a total compensation of $87,185 in 2019, which includes both their wages and benefits. This figure provides valuable insight into the overall financial well-being of manufacturing workers in the country, highlighting the total amount they earn from their work. Total compensation is an important metric as it represents not only the direct monetary pay workers receive but also the value of any additional benefits, such as health insurance, retirement contributions, and other perks provided by their employers. This statistic illustrates the comprehensive nature of compensation in the manufacturing sector and sheds light on the total financial package that workers in this industry typically receive.
There were 4,750 robotics companies operating in global manufacturing in 2017.
The statistic indicates that in 2017, there were a total of 4,750 robotics companies actively engaged within the global manufacturing sector. This signifies a significant presence and adoption of robotics technology in the manufacturing industry, highlighting a growing trend towards automation and robotics integration in production processes. The wide range of companies involved in robotics manufacturing suggests a diverse landscape in terms of technology advancements and solutions offered to streamline operations and enhance efficiency in production. This statistic underlines the increasing importance of robotics in modern manufacturing practices and its role in driving innovation and competitiveness in the industry on a global scale.
In 2019, manufacturing value added as a percentage of GDP for United States was 11.23 %.
The statistic stating that manufacturing value added accounted for 11.23% of the United States’ Gross Domestic Product (GDP) in 2019 indicates the importance of the manufacturing sector in contributing to the overall economic output of the country for that year. Manufacturing value added represents the contribution of the manufacturing sector to the economy after accounting for the costs of intermediate goods and services used in production. A higher percentage suggests that manufacturing played a significant role in generating economic value and supporting other industries within the country. This statistic provides insight into the relative size and significance of the manufacturing sector within the overall economic landscape of the United States in 2019.
The Global Smart Manufacturing Market size is expected to reach $595.4 billion by 2027.
The statistic indicates that the global smart manufacturing market is projected to grow significantly, reaching a value of $595.4 billion by the year 2027. This suggests a substantial expansion of the smart manufacturing sector over the coming years, driven by advancements in technology, automation, and data analytics. The growth in smart manufacturing is likely to be fueled by increasing adoption of Industry 4.0 practices, such as Internet of Things (IoT) devices, artificial intelligence, and robotics, which enable more efficient and connected production processes. The anticipated market size reflects the growing importance of smart manufacturing in optimizing operations, reducing costs, and enhancing productivity across various industries worldwide.
Conclusion
The industrial manufacturing industry statistics presented in this blog post highlight the significance of this sector in the global economy. From production output to technological advancements, these statistics underscore the industry’s resilience and evolution. As we move forward, it is crucial for businesses and policymakers to leverage this data for informed decision-making and strategic planning.
References
0. – https://www.www.iea.org
1. – https://www.www.census.gov
2. – https://www.ec.europa.eu
3. – https://www.www.pwc.com
4. – https://www.www.researchandmarkets.com
5. – https://www.www.semiconductors.org
6. – https://www.ifr.org
7. – https://www.www.selectusa.gov
8. – https://www.www.prnewswire.com
9. – https://www.www.nam.org
10. – https://www.knoema.com
