The United States is currently witnessing a manufacturing and infrastructure investment boom of more than $1 trillion, of which about $500 billion is being invested in large-scale projects such as new semiconductor manufacturing facilities, electric vehicle and battery production sites, and clean energy development.

SYN5201A-Z V217 3BHB006714R0217 Data from Goldman Sachs research shows that this investment trend is expected to drive significant development of U.S. manufacturing in 2024 and lead to a surge in related equipment orders.

Large project investment is broken down as follows:
• Semiconductors: $222 billion
• Electric vehicles and batteries: $114 billion
• Clean energy: $86 billion

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According to Goldman Sachs, a number of large projects are already underway, with a total investment of $80 billion in 2022 and 2023, compared with an average of about $23 billion per year over the past decade.

These projects are still in the early stages of development and purchases of equipment are still relatively small, but equipment suppliers are expected to see a significant increase in order volumes from the first half of this year.

In the United States, Texas leads the way in the number of projects that have started construction, accounting for about a quarter of the total number of projects in the country, and the state’s large projects are mainly concentrated in the field of semiconductor manufacturing, with partners including Texas Instruments and Samsung, as well as emerging large-scale green hydrogen projects.

SYN5201A-Z V217 3BHB006714R0217 This is followed by Arizona, which has two semiconductor manufacturing facilities planned by TSMC and two additional semiconductor manufacturing facilities to be built by Intel in the Okitto campus.

Louisiana ranked third for its strong growth in clean energy projects, while Ohio ranked fourth for its large Intel-based projects.