Number of Hardware Manufacturing Businesses in the US (2000–2023)
As of 2023
458
hardware manufacturing businesses in the United States
Number of Firms Over Time
Total Employment Over Time
Key Insights
- •The hardware manufacturing industry has declined 40.4% since 2000 (from 769 to 458 firms).
- •The peak year was 2002 with 771 firms.
- •Recent trend (last 5 years): the industry is shrinking (-12.4%).
- •Employment: 30,224 workers in 2023 (-55.3% change since 2000).
- •Estimated 5-year survival rate: 74%.
Year-by-Year Data
| Year | Firms | Establishments | Employment | Entry Rate | Exit Rate | Net Growth |
|---|---|---|---|---|---|---|
| 2023 | 458 | 510 | 30,224 | 7.9% | 5.9% | -0.1% |
| 2022 | 457 | 508 | 30,471 | 7.3% | 6.9% | +2.3% |
| 2021 | 469 | 517 | 29,604 | 5.2% | 4.7% | -4.3% |
| 2020 | 500 | 544 | 28,965 | 4.2% | 7.2% | -1.0% |
| 2019 | 523 | 564 | 28,879 | 4.2% | 5.1% | +1.7% |
| 2018 | 518 | 563 | 28,423 | 3.9% | 6.3% | -1.5% |
| 2017 | 543 | 589 | 28,783 | 5.5% | 4.8% | +3.4% |
| 2016 | 512 | 555 | 27,654 | 6.5% | 5.1% | +1.6% |
| 2015 | 509 | 555 | 27,753 | 5.9% | 7.3% | +5.7% |
| 2014 | 516 | 565 | 25,862 | 5.7% | 6.0% | +2.5% |
Source: U.S. Census Bureau, Business Dynamics Statistics (BDS). Entry/exit rates refer to establishment openings and closings.