The gross output for the US machinery manufacturing industry in 2024 is projected at $423.6 billion, showing a steady upward trend through to 2028, where it is forecasted to reach $441.52 billion. Examining the year-on-year variation, the industry is expected to grow by approximately 1.1% from 2024 to 2025, 1.1% from 2025 to 2026, 1% from 2026 to 2027, and 1% from 2027 to 2028. The compound annual growth rate (CAGR) over the five-year period from 2023 to 2028 stands at about 1.1%.
Future trends to watch for in this industry include the increased adoption of automation and smart manufacturing technologies, which aim to enhance efficiency and productivity. Additionally, the shift towards sustainable and eco-friendly manufacturing practices may drive innovation and influence market dynamics. Global supply chain disruptions and geopolitical factors could also play crucial roles in shaping the future outlook of the industry.
