Industry Analysis

Projected Post-Covid Market Size, Growth Rate, Estimated Number of Employees, and the Number of Companies/Businesses: Manufacturing

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Market Size and Market Growth Rate

  • According to Allied Market Research, “the global manufacturing industry accounted for $4.92 trillion in 2019, and is expected to hit $5.08 trillion by 2022, growing at a CAGR of 6.7% during the forecast period.”
  • The global manufacturing industry output is expected to contract by 7.6% in 2020.
  • According to the Manufacturing Industry Output Tracker (MIO) by Interact, “a contraction of 10.3% in 2020, will be followed by 3.4% growth in 2021″ for the United States.

Number of employees

  • According to the US Bureau of Labor Statistics, the number of employees in the manufacturing industry was 12.205 million in September 2020.
  • An exhaustive search through industry publications, market reports, media articles, regulatory websites, and statistical databases could not find employment projections that include impacts of the COVID-19 pandemic.
  • The US Bureau of Labor Statistics projects the US construction industry to reach 12.39 million jobs by 2029 at a CAGR of -0.4%.
  • Using the CAGR of –0.4% the number of employees in the US manufacturing industry is anticipated to reach 12.11 million by 2022. The projected number was calculated using a reverse CAGR calculator. The starting value is 12.205 million (2020), and the number of periods is 2 (years).

Companies/Businesses

  • According to IBIS World, the number of manufacturing businesses in the United States in 2020 is 565,537. The number of businesses is expected to decline by 8% in 2020.
  • Assuming that the number of construction companies in the United States will continue declining at 1.4% between 2020 and 2022, the number of manufacturing companies is anticipated to reach 549,812 by 2022. This projected number was calculated using a reverse CAGR calculator. The starting value is 565,537(2020), and the number of periods is 2 (years).
GLENN TREVOR
Glenn is the Lead Operations Research Analyst at Simple Manifestation with experience in research, statistical data analysis and interview techniques. A holder of degree in Economics. A true specialist in quantitative and qualitative research.

Projected Post-Covid Market Size, Growth Rate, Estimated Number of Employees, and the Number of Companies/Businesses: Construction

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