3 Manufacturing Trends for 2017

release date: 12/30/2016

tags: Manufacturing, Trends

happy-new-year-protech-international.jpegThe manufacturing sector has undergone a lot of changes over the last ten years, and forecasts for 2017 and beyond show even more disruption. Technology is improving the processes and functionality behind much of today’s industrial machinery, presenting both opportunities and challenges to manufacturers.

Where does Protech International see manufacturing in 2017? Here are a few of the biggest trends to watch.

Nearsharing Machinery

Machines are getting smarter every day. “Nearsharing” is a relatively new term, referring to the ability of machinery to communicate with a central processing system remotely. Soon, most industrial machines will be able to monitor themselves for signs of an impending breakdown, recommend suggested fixes, and even reorder their own parts from a designated parts provider. As automation within the manufacturing sector continues to become the norm, look for nearsharing to become more than just the buzzword du jour.

R&D Investment on the Rise

Nearly half of all global manufacturers surveyed say they’ll spend upwards of 6% of total revenues on Research and Development. A third of those have already sunk that much into R&D for their respective industry sector.

As end-users continue to change and customers demand more from manufacturers and manufactured products, the status quo must shift. Accommodating demand for tech-forward products and processes will be the number one priority for most manufacturers moving into the new year.

Slow Growth Means Specialization

Manufacturing production, though stabilized after several years of volatility, will be growing slowly over the next two years, say industry experts. Why? High inventory, record-breaking oil prices, and an appreciated dollar have created challenges for U.S. manufacturers, but the apparent solution is specialization. Manufacturers who dig into a specific niche – premium woodwork, modular building supplies, fiberglass thread – are more likely to find consistency within their chosen market. U.S. industries such as homebuilding, automaking, and energy are still holding steady, creating opportunities for manufacturers to become entrenched.

What Does the New Year Hold for You?

What do these manufacturing trends mean for you and your business? Protech International can help you figure it out. We’ve ridden out years of instability in the global manufacturing markets.

Contact Protech International today to find out how we can help your business grow in 2017.