How Many Jobs Are Available in Capital Goods in 2022?

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Your curiosity about “how many jobs are available in capital goods in 2022?” indicates that you are interested in becoming a part of the capital goods industry.

The capital goods industry is a rapidly expanding industry employing millions of people.

There are many options in this field from which to select, particularly if you’re looking for a job and want to find the best fit for you.

Furthermore, a career in capital goods is very rewarding. So if you’re thinking about it, all you need is a solid understanding of the sector to get started.


However, the heart-wrenching question is, “which position is the best fit for you?”. Keep reading to find out how to decide which is the best fit for your skill set.

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What are Capital Goods?

Capital goods are items that are necessary for the production of other goods and services. This is different from consumer goods which are useful for consumers’ satisfaction.

Capital goods include things like machinery, raw materials, equipment, plants, and other things.

A significant number of companies worldwide depend on the capital goods sector for production, manufacturing, processing, packaging, etc.


Due to the benefits involved, such as paid time off, medical insurance, investment opportunities, and other things, People who work in the capital goods sector typically enjoy their jobs.

Capital goods can have a direct impact on the economy because they have a large impact on manufacturing.  

Some of the recent significant advancements aim to enhance production methods—for instance, innovations like robotics, AI, and analytics.

Also, Capital goods boost labor productivity, which improves business efficiency and speeds up the production of more goods.

For example, devising better ways to use energy more effectively in their machinery to lower production costs. Click here to keep reading.

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Is Capital Goods a Good Career Path?

Basically, the capital goods sector is very lucrative, although, in recent times, it has become competitive. However, for individuals with the required skills, this doesn’t pose a threat.

Hence, a career in the capital goods sector requires a high level of technical expertise. Therefore, one must satisfactorily possess the set of skills necessary for the industry before pursuing a career in the capital goods sector.

Capital goods is a good career path for individuals interested in Engineering and problem-solving.

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What are the Examples of Capital Goods?

Here are some examples of capital goods

  • Machinery:  Including drill presses, injection molding machines, wedge, and axle
  •  Equipment: Including cranes, forklifts, plumbing fixtures, and conveyor belts.
  •  Buildings: Includes office buildings, warehouses, and factories.
  • Tools: Includes hammer, wrench, saw, spanner, shovel, etc.
  • Vehicles: Any means of transportation that a business owns and uses is a capital good such as trucks, cars, and buses.
  • Production Technology: Any technology and research material that is useful for the development, selection, and manufacturing of goods.
  • Power Technology: These are energy supply sources such as solar, electricity, etc.
  • Computing technology: This includes mechanical computing devices, computers, software, etc.
  • Electronics: This involves the flow of electrons and electricity in production, for example, radio, computer, etc.

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How Many Jobs are Available in Capital Goods in 2022?

According to recent research, there are about 1.3 million jobs in the capital goods industry. So, there is a wide range of job roles to choose from.

Here are a list of Jobs in capital goods and the estimated number of jobs available for each role.

Job RoleEst. No of Jobs in the USJob Openings
Sales Engineer40,000+136,000+
Engineering Manager139,00+79,000+
Marketing Manager281,000+156,000+
Business Development Manager286,000+296,000+
Software Developer462,000+337,000+
Production Engineer242,000+131,000+
Quality Control Manager122,000+96,000+
Research and Development Technician22,000+123,000+
Common Jobs Available in Capital Goods

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What is the Average Salary for Capital Goods?

The salary of capital goods workers differs from industry to industry. It is common for most people to get employed in the private sector due to new companies coming up from time to time.

Therefore, a concise average of workers’ salaries may be difficult.

However, according to a recent report on the average salary in capital goods, the average annual earnings have grown to $71,580, with predictions of a significant increase to about $84,460 by 2027.

Furthermore, some of these factors listed can affect their average pay

  • Job title.
  • Industry type.
  • Geographical location.
  • Years of experience.

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What are the Best Paying Jobs in Capital Goods?

Generally, knowing how many jobs are available in capital goods is not all the information you need. It is necessary to know the best paying jobs in capital goods.

The best-paying jobs in capital goods are listed in the table below with the estimated annual income.

Job Roles  Est. Annual Salary ($)
Senior Mechanical Engineer92,000
General Manager87,000
Engineering Manager103,000
Manufacturing Engineer71,980
Electrical Engineer78,016
Quality Control Manager72,175
Industrial designer68,653
Sales Engineer74,250
Research and Development Manager144,880
Marketing Manager109,831
Robotic Engineer93,364
Part Assembler32,592
Category Manager Capital Expenditures150,000
Best Paying Jobs in Capital Goods

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What are the Skills Needed in Capital Goods Industry?

Certain skills are necessary for a career in the capital goods industry. If you are keen on landing a job in this sector, consider acquiring the following skills:

1. Mechanical Aptitude

Mechanical skills are necessary for workers in the capital goods industry. Capital goods workers should have an understanding of machines.

They must possess the ability to operate the machines. However, not all capital goods workers are expected to have the ability to operate machines.

2. Mathematical Knowledge

The capital goods markets are mostly logical and therefore deal with a lot of mathematics and economics. Therefore, A capital goods worker must possess mathematical skills.

3. Computers and Software skills

The capital market involves a lot of data, patterns, and trends. Good knowledge of programming helps in the proper collection and analysis of data. This, in turn, reduces errors and time and increases efficiency.

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4. Inferential Skills

A good understanding of systems and blueprints is important. A top-down inferential skill is necessary to understand and predict changes in the right or wrong direction.

A capital goods worker should have the ability to narrow down big pictures to tiny bits for proper analysis.

5. Welding and Fabrication skills

It is necessary for workers to possess welding and fabrication skills. Although not all capital goods workers should possess welding and fabrication skills.

However, workers who find themselves in departments that require this skill are expected to possess it.

6. Analytic Skills

Analytics skills help you understand each aspect of the market. It is important to have a strong grip on changes in price factors, rates, sizes, and behaviors in the market.

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7. Discipline

To work in a capital good market, You need self-discipline. This is necessary because working in capital goods is stressful and hectic.

8. Communication Skills

Additionally, good communication skill is important in capital goods. It is necessary to communicate effectively between coworkers and clients.

Moreover, discussions and deliberations involving strategizing, Marketing patterns, and market results occur on a daily basis.

Capital Goods Industries

There are different industries in the capital goods sector. Here are some common ones:

  • Construction Industries: Companies that build homes, offices, roads, bridges, and other structures are included in this industry.
  • Transportation Industries: Businesses that manufacture and market cars, planes, trains, and other modes of transportation are included in this industry.
  • Aerospace Industries: Companies that manufacture and market aircraft, spacecraft, and related goods and services are included in the aerospace sector.
  • Defense: These are companies that deal with military equipment and weapons.
  • Textile: products such as nylon, silk, and linen are some of the products of the textile company.
  • Chemical Industries: the chemical industry produces chemicals for the production of consumer products such as paints.
  • Electronics Industries: It covers telecommunication companies, processors, etc.
  • Energy and Power Industries: These companies supply energy and power in the form of electricity.

Conclusion

Finally, capital goods is an excellent career choice, especially for a technically skilled individual. It has benefits like job security and a competitive salary.

Obviously, there are other career options in capital goods. However, not all capital goods careers are covered in this article.

Capital goods will always be a good source of employment as it is an ever-growing sector.

References

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