The Top 20 Fastest-Growing Manufacturing Industries

October 26, 2022

Kentley Insights has compiled the top 20 fastest-growing manufacturing industries. Manufacturing is alive and well in the U.S as a $6.4 trillion sector of the U.S. economy, providing almost 12 million jobs. Below are the 20 fastest-growing manufacturing industries based on their 5-year total revenue compound annual growth rate from 2017 to their 2022 forecast.

One of the insights of the list is it includes a number of manufacturing industries making machinery for other manufacturing industries. Given the headwinds the economy is currently facing, some of these fast-growing industries may struggle over the next few years.

The Manufacturing Top 20 List

1.

Semiconductor Machinery Manufacturing
16.1%

2.

Food Product Machinery Manufacturing
14.4%

3.

Asphalt Paving, Roofing, and Saturated Materials Manufacturing
13.7%

4.

Industrial Machinery Manufacturing
13.6%

5.

Small Arms, Ordnance, and Ordnance Accessories Manufacturing
13.3%

6.

Optical Instrument and Lens Manufacturing
12.3%

7.

Other Guided Missile and Space Vehicle Parts Equip. Manufacturing
11.6%

8.

Ammunition (except Small Arms) Manufacturing
11.4%

9.

Petroleum Lubricating Oil and Grease Manufacturing
10.5%

10.

Sawmill, Woodworking, and Paper Machinery Manufacturing
10.5%

11.

Audio and Video Equipment Manufacturing
10.1%

12.

Rice Milling
9.5 %

13.

Nonferrous Metal (except Aluminum) Smelting and Refining
9.4 %

14.

Tobacco Manufacturing
9.4%

15.

Agricultural Implement Manufacturing
8.8%

16.

Commercial and Service Industry Machinery Manufacturing
8.5%

17.

Packaging Machinery Manufacturing
8.2%

18.

Overhead Traveling Crane, Hoist, and Monorail System Manufacturing
8.1%

19.

Truss Manufacturing
8.0%

20.

Material Handling Equipment Manufacturing
8.0%