At CONEXPO-CON/AGG 2026, the Association of Equipment Manufacturers released new economic data indicating the U.S. off-highway equipment manufacturing industry remains “selectively strong” despite modest contraction over the past two years.
Based off S&P Global Market Intelligence analysis, the report shows that in 2025 the industry generated $902 billion in total sales activity and supported 2.2 million U.S. jobs, including 421,000 direct positions. Total value added to GDP reached $415 billion, while labor income totaled $194 billion.
Construction equipment manufacturers were identified as the most resilient segment, with 2.9% direct employment growth from 2023 to 2025.
AEM President and CEO Megan Tanel said, “America’s off-highway equipment industry is a powerful economic engine. In 2025 alone, our industry supported 2.2 million jobs, generated $194 billion in labor income, and contributed $415 billion to GDP. Despite numerous challenges facing the industry, our industry learns to adapt and proves its resiliency time and time again.”
Overall industry employment declined 0.4% over the three-year period. Direct employment increased 3.2% in 2023 before declining in 2024 and 2025.
The report also highlights the sector’s broader economic footprint, representing nearly 1 in 10 U.S. manufacturing jobs and generating significant tax revenues at the federal, state and local levels.
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