Manufacturing: A turn – and tech – for the better
The factory sector looks set to break out of the doldrums it’s been in since late 2022, when the Institute for Supply Management’s headline index dipped into contraction. Executives are looking for a notable turn in 2024—with growth picking up further in the second half—and plan to spend more on people and equipment.
Two examples: More than 40% of metalcasters plan to increase their capital spending next year and Dodge Construction Network says manufacturing construction should grow 16%.
One thing that’s unlikely to change much from 2023 is the talent shortage. Despite improvements in some subsectors, labor issues remain front and center and are contributing to tech spending growth—both on the factory floor and in warehouses.
Here’s a collection of recent stories from Endeavor Business Media’s manufacturing group that help set the stage for the coming year.
IndustryWeek – Manufacturers ‘want to see the dust settle’ in ’24
Bulk Transporter – ACC: Chemistry output to rise in ’24
Foundry Management & Technology – 2024 metalcasting business outlook
Material Handling & Logistics – Warehouse automation to grow in 2024
Automation World – 2024 will be the year manufacturing tech matures
Electrical Marketing – Dodge calls for 7% increase in construction starts
Foundry Management & Technology – This time, it’s personnel
The Outlook 2024 series of market reports is compiled by Endeavor Business Intelligence. EBI delivers all the critical ingredients – deep research expertise, trusted brands, subject matter experts, rich audience databases, creative thinking, and design services – that bring data to life. Learn more at intelligence.endeavorb2b.com.
Manufacturing Market Moves Newsletter Delivering insights and analysis from manufacturing and sector experts into the global manufacturing economy, delivering news and perspectives on diverse topics, including labor relations, advanced manufacturing technologies, regulations, and more.