Diesel Equipment Manufacturing Vital to U.S. Economy
July 19, 2017 | Diesel Technology Forum
Consider the following about the domestic manufacture of diesel technology and the economic benefits generated by diesel technology:
The U.S. Energy Information Agency predicts that, thanks to new found oil and gas reserves, the U.S. will be a net energy exporter in the coming years. Expanding production and exports of oil and gas products, including ULSD, is expected to grow employment in the sector to 1.3 million jobs, according to the American Petroleum Institute.
Looking at just the construction equipment industry, the Association of Equipment Manufacturers recently concluded that the production of construction equipment will offer many Americans a well-paying job and benefit communities across the country: 1.3 million jobs and $158 billion in economic value. In fact, the average wage in the industry exceeds the national average paying workers about $78,000 per year.
|Diesel Industry Subsector||Total Output||Value Added||Employment|
|Vehicle, Equipment & Engine Manufacturing||$178.2 billion||$45.7 billion||349,000|
|Oil Production & Refining||$218.6 billion||$55.3 billion||137,000|
|Sales, Repair & Servicing||$120.7 billion||$82.1 billion||764,000|
|Total||$517.5 billion||$183.1 billion||1,250,000|
|Multiplier Effect||$300.1 billion|
|Total Value Added||$483.1 billion|
Learn more by downloading our report: Diesel Powers the U.S. Economy: Providing High-Paying Jobs, Exports and Long-Term Productivity Gains in the Nation's Fundamental Sectors.
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