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FOCUS
ON THE USA
We highlight the manufacturing and industrial outlook , as well as metalforming activity and general economic analyses , in the United States .
“ The U . S . economy has turned in a strong performance over the past few years .”
According to analyst Grand View Research , the North American sheet metal fabrication equipment market size was estimated at US $ 7.7 billion in 2023 and is anticipated to grow at a compound annual growth rate ( CAGR ) of 6.4 % from 2024 to 2030 . The United States held the largest revenue share of 75.2 % in 2023 , owing to increasing government efforts for the development of public infrastructures in the U . S . This equipment is crucial for developing structural steel components such as beams , columns and trusses used in buildings and bridges .
Technological developments and growing end-use industries ( such as automotive , construction and aerospace ) are likely to drive the growth of the market . The automotive industry plays a crucial role in stimulating demand , owing to its ongoing advances in vehicle design and the introduction of novel material combinations in automotive manufacturing . Growing defence expenditure by the U . S . federal government is expected to augment the production of naval ships , patrol vehicles and submarines at a domestic level in the U . S ., said the analyst .
The U . S . is home to major automotive , aerospace , defence , engineering and construction OEMs . In this article , we analyse the manufacturing and industrial outlook , as well as metalforming activity and general economic analyses , in the United States .
Manufacturing in focus
The National Association of Manufacturers ( NAM ) Q2 2024 Manufacturers ’ Outlook Survey highlighted , in its view , the need for “ U . S . Congress to take action to prevent tax increases that will limit the industry ’ s ability to create jobs , support their communities and compete in the global economy .” The NAM ( in the United States ) conducted the survey from 14 May to 3 June 2024 .
“ If Congress does not act to prevent tax increases , survey respondents say that increased taxes will limit capital investment opportunities ( 73.0 %), decrease job creation ( 65.4 %), increase difficulty competing globally ( 52.6 %) and reduce R & D spending ( 51.7 %). Nearly 94 % of respondents agree that Congress should act before the end of 2025 to prevent scheduled tax increases on manufacturers ,” said the NAM .
“ In Q2 , 71.9 % of respondents felt either somewhat or very positive about their company ’ s outlook , the seventh straight reading below the moving average ( 74.8 %). More than 67 % of manufacturers cited the inability to attract and retain employees as their top primary challenge , followed by rising health care costs ( 66.7 %), an unfavourable business climate ( 59.6 %) and a weaker domestic economy ( 56.8 %),” it added .
The survey highlighted various different ways that manufacturers are exploring to improve recruitment and retention . Some of these special
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