NAM Manufacturing Facts To Kick Off 2022
For manufacturers, the new year is an appropriate time to take stock of where you are and define goals to get you where you’re going. Each new year is a chance to make headway, and evaluating your opportunities begins with a survey of the economic landscape.
For relevant data about the state of domestic manufacturing, there’s no better source than the National Association of Manufacturers (NAM); “NAM represents 14,000 member companies from across the country, in every industrial sector,” and identifies itself as “the most effective resource and influential advocate for manufacturers in the United States.” Each year, NAM gathers research to support the manufacturing industry. The most significant figures from NAM focus on the state of U.S. manufacturing and the direction of industry momentum.
Manufacturing by the numbers
NAM production numbers from the past few years offer insight on the recent economic state of the domestic manufacturing sector. Significant statistics include:
- $2.34 trillion in total manufacturing output (2019).
- $1.17 trillion in manufactured goods exported (2020).
- 10.94% of total gross state product (2019).
While the pandemic caused severe supply chain disruption, 2021 presented manufacturers with an opportunity to restabilize. Supply chains are on the mend, which spells good news for the industry.
Planned reshoring could bump these numbers up in 2022. General Motors recently announced plans to spend billions of dollars to increase electric vehicle battery production in the U.S., and bringing supply chains closer to home is just one opportunity for increasing domestic manufacturing output in the coming years.
Manufacturing by the people
Manufacturing employment numbers for 2021 reflect pandemic-related staff shortages when compared with previous years:
- 248,039 domestic manufacturing companies (2017).
- 12,182,000 people employed in manufacturing (2020).
- $83,369.69 in average annual compensation (2019).
Millions remain employed across manufacturing sectors, and they’re earning well above the national averages of other industries. But in 2021, manufacturers struggled to find qualified individuals to fill positions — a persistent struggle amplified by the COVID-19 crisis.
To combat worker shortages, many manufacturing companies are investing in diversity, equity, and inclusion (DEI) initiatives and turning to apprenticeships or fast-track training programs to recruit future employees.
Manufacturing by the sector
American manufacturing is regarded as a global gold standard. Throughout the chaos of 2020 and 2021, manufacturers continued to deliver premium goods to customers around the world and satisfy demand in some of the most complex industrial sectors. The top 10 U.S. manufacturing sectors on the global stage are:
- Pharmaceuticals and medicine.
- Aerospace parts and products.
- Navigational, measuring, electromedical, and control instruments.
- Motor vehicles.
- Semiconductors and other electronic components.
- Medical equipment and supplies.
- Other wood products.
- Computers and peripheral equipment.
- Motor vehicle parts.
The future of manufacturing
Despite the difficulties of 2020 and 2021, manufacturing may see a banner year in 2022. Prospects for reshoring, the Infrastructure Investment and Jobs Act, and the growing accessibility of digital manufacturing infrastructure are promising for NAM’s 2022 numbers and the whole of the manufacturing industry. No matter how this year pans out, domestic manufacturing is still driving the country forward.