The United States leads global R&D expenditure in machinery and equipment manufacturing, significantly outpacing other countries with $33.64 million in 2023. Japan and Germany follow, while South Korea and Italy show moderate investments. Notably, Poland, Portugal, and Slovenia display high year-on-year growth rates, indicating emerging R&D strength. In contrast, the United Kingdom and Hungary exhibit declines. Smaller economies like Latvia and Lithuania, though having a low absolute investment, show remarkable annual growth rates.
Future trends to watch include:
- Potential increase in R&D spending in high-growth countries like Poland and Portugal.
- United States continuing to consolidate their leading position.
- European countries responding to global competition by potentially increasing their investment in innovation.
Top countries in Business Enterprise R&D Expenditure in Manufacture of Machinery and Equipment Share by Country (Million US Dollars PPP)
| # | 10 Countries | Percent | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 United States | 33.64 | 2023 | +2.56% | +5.43% | View data |
| 2 | 2 Japan | 24.48 | 2023 | +5.42% | +0.49% | View data |
| 3 | 3 Germany | 17.92 | 2023 | +2.53% | +1.21% | View data |
| 4 | 4 South Korea | 9.06 | 2023 | +4.15% | +3.95% | View data |
| 5 | 5 Italy | 5.37 | 2023 | +3.51% | +1.14% | View data |
| 6 | 6 Taiwan | 2.12 | 2023 | +5.13% | +4.61% | View data |
| 7 | 7 United Kingdom | 1.77 | 2023 | -6.44% | -7.55% | View data |
| 8 | 8 Canada | 1.35 | 2023 | +2.96% | +1.08% | View data |
| 9 | 9 Finland | 1.34 | 2023 | +2.74% | +5.55% | View data |
| 10 | 10 Spain | 0.85 | 2023 | +2.18% | +2.38% | View data |
