The Construction Machinery Manufacturing Industry in the US experienced fluctuating trends in gross output from 2013 to 2023. The industry saw a peak in 2014 followed by significant declines, particularly notable in 2016 with a drastic drop. The years following showed minor recoveries and continued to trend downwards, reaching 22.8 Billion US Dollars in 2023.
Year-on-year variation highlights:
- 2022 to 2023: decreased by 1.94%
- 2021 to 2022: decreased by 1.95%
CAGR analysis over the last five years indicates an annual decline of approximately 1.95%, while the forecasted data suggests a further decline averaging 1.73% per year through 2028. This results in an expected overall reduction in industry gross output by 8.37%.
Future trends to watch for include technological advancements in machinery, evolving regulatory standards, and potential economic fluctuations impacting the construction industry. Market dynamics could shift with changes in infrastructure spending and new construction technologies.
