41 Manufacturing Statistics to Showcase the Latest Trends

Modern manufacturing isn’t the same as it was two decades ago. Driven by data analytics, 3D printing, computer-aided manufacturing (CAM) platforms, and a lot of advanced equipment, manufacturing has evolved to adopt innovative factory technologies.

Operational benefits and reduced costs have fueled this shift, while sustainability and worker safety have become a non-negotiable priority for manufacturers. Let’s look at some interesting statistics to discover the latest in manufacturing.

Key manufacturing statistics 

Manufacturing is one of the earliest businesses known to humans and it has made considerable developments. Let these thoughtfully chosen statistics hint at what goes on in manufacturing in the 21st century.

• Downtime in manufacturing costs an average of $260,000 per hour.
• The annual cost due to downtime is around $208 million for manufacturing companies.
• Producers' prices for manufacturing rose 1.1% in the past year.
• A 15% increase in the US gross domestic product (GDP) could occur if manufacturing sectors restored growth and competition.
• Every $1 spent in manufacturing results in $2.79 of economic activity.
• 45% of manufacturers need to prioritize reducing product development cycle times.
• 52% of manufacturing executives need help to differentiate their products from competitors.
• 20 US free trade agreement (FTA) partners purchased 49.38% ($690.92 billion) of US manufactured goods exports in 2021. These countries represent 6% of the world’s population and 10% of GDP. 
• The US chemical manufacturing sector's market value was over $64 billion in 2022.
• Consumer electronics manufacturing in the US was valued at over $738 billion in 2022. 
• 15% to 70% of the cost of produced goods goes into machinery maintenance in manufacturing. 
• US manufacturing output grew 81% from 1997 to 2021.
• 82% of companies reported unplanned downtime in the last three years.

Computer-aided manufacturing insights

Computer-aided manufacturing (CAM) uses computer software to control machine tools. Before CAM existed, manufacturers had to set up machines manually. That took time and sometimes led to mistakes. With CAM, the process is faster and more precise. 

You design a product on your computer. The software then translates that design into instructions. These instructions guide the machine tools. And that’s it! 

Learn more about how CAM is transforming manufacturing through the statistics below. 

• The CAM market size was $2,689 million in 2020. 
• Globally, Madagascar is number one when it comes to interest in computer-aided manufacturing in 2023.
• The CAM market is projected to reach $5,477 million by 2028.

• By 2028, experts forecast the global CAD market will reach $13.83 billion.
• There are a total of 56 CAM software platforms listed on G2. Users have rated computer numerical control (CNC) feature recognition as a notable feature in CAM software. 

U.S. manufacturing insights

US factories are significant players in the manufacturing world. New technology, like robots and online tools, helps them grow. The country’s manufacturing sector strongly focuses on being green and training its workers better. Explore the statistics below to learn more. 

• In 2021, manufacturing contributed $2.3 trillion to the US GDP.
• Manufacturing constitutes 12% of the US GDP.
• 13 million Americans work for the manufacturing sector as of 2023. 
• The manufacturing sector ranks 4th in US employment, after sectors like healthcare and social assistance.
• Manufacturing productivity rose by 3.3% since 1987, with a 124% increase in motor vehicle and parts production.

• US manufacturing imports account for 18.2% of intermediate goods and services, up from 12% in the 1970s.

Manufacturing jobs statistics

Manufacturing jobs have transformed in the past few decades. Even though machines now do some of the work humans used to do, actual people still have to take on the new jobs of fixing or programming the new equipment. Go through the statistics below to understand how manufacturing jobs are evolving. 

• If key manufacturing industries restore growth and competitiveness, they could add 1.5 million jobs.
• Manufacturing jobs represent 9.6% of all US employment.
• Manufacturing jobs have declined since their 1979 peak at 22% of employment in the US..
• The current manufacturing employment is only 1.3% below its pre-pandemic peak.
• Manufacturing jobs have added 1.3 million roles since 2020 yet remain below pre-pandemic levels.

• Over the last decade, manufacturing employment increased by 8.2%
• Pharmaceutical and medicine manufacturing provides 18.2% of jobs in the US. It was the highest among other manufacturing sectors in 2021.
• Computer and peripheral equipment manufacturing offered 2.3% of total jobs in the US.
• Manufacturing jobs for graduate students have grown by 32% since 2000.
• An anticipated 3.5 million manufacturing jobs will open in the next decade, with 2 million likely going unfilled due to a skills gap.

Manufacturing wages statistics

Manufacturing wages vary by region and expertise. Developed countries often offer more. Specialized roles command better pay. Automation can pressure some salaries downward, but high-tech positions can see a rise. These statistics shed some light on wage dynamics in the manufacturing industry,

• In 2023, the average manufacturing wage is around $17.50 an hour.
• Manufacturing production decreased 0.3% year-over-year as of May 2023.
• Since 1997, the US has seen a 25% decrease in manufacturing firms and plants.

• In 2021, $95,990.00 was the average annual compensation in manufacturing. 
• The average compensation in US manufacturing is 8.8 % more than that for the total private industry. 

Manufacturing is on the move

These stats clearly show manufacturing’s progress has no signs of slowing down. Factories are producing more than ever. New tech is making waves, changing how we create products. 

The stats tell the story of the past and present, but they also provide a sneak peek into the future when you connect the dots. This isn't just about machines and numbers. It's about jobs, communities, and the backbone of our economy. 

Learn more about computer-aided manufacturing and why it’s essential.