Number of Farm Machinery and Equipment Manufacturing Businesses in the US (2000–2023)
As of 2023
2,277
farm machinery and equipment manufacturing businesses in the United States
Number of Firms Over Time
Total Employment Over Time
Key Insights
- •The farm machinery and equipment manufacturing industry has declined 10.9% since 2000 (from 2,555 to 2,277 firms).
- •The peak year was 2012 with 2,565 firms.
- •Recent trend (last 5 years): the industry is shrinking (-4.2%).
- •Employment: 194,709 workers in 2023 (-1.6% change since 2000).
- •Estimated 5-year survival rate: 73%.
Year-by-Year Data
| Year | Firms | Establishments | Employment | Entry Rate | Exit Rate | Net Growth |
|---|---|---|---|---|---|---|
| 2023 | 2,277 | 2,677 | 194,709 | 5.7% | 6.0% | +3.4% |
| 2022 | 2,321 | 2,693 | 188,648 | 6.0% | 6.9% | +3.8% |
| 2021 | 2,279 | 2,670 | 180,306 | 5.5% | 7.1% | -3.8% |
| 2020 | 2,338 | 2,733 | 188,675 | 5.3% | 6.4% | -3.9% |
| 2019 | 2,376 | 2,771 | 196,917 | 5.5% | 5.7% | +4.0% |
| 2018 | 2,385 | 2,774 | 189,178 | 5.3% | 5.2% | +3.2% |
| 2017 | 2,425 | 2,805 | 183,319 | 4.6% | 7.2% | -1.6% |
| 2016 | 2,489 | 2,907 | 188,851 | 3.9% | 7.0% | -14.5% |
| 2015 | 2,554 | 2,972 | 215,553 | 5.2% | 5.0% | -0.6% |
| 2014 | 2,545 | 2,945 | 216,325 | 5.7% | 4.4% | +0.5% |
Source: U.S. Census Bureau, Business Dynamics Statistics (BDS). Entry/exit rates refer to establishment openings and closings.