Machinery Production in the Americas Continues to Thrive
According to the latest statistics from IMS Research the production of industrial machinery in the Americas has experienced robust growth since 2002 and total output is forecast to surpass $180 billion by 2010. This growth is mainly attributed to strong demand for machinery from emerging markets in India, China, and South America as well as continued economic expansion in Europe and the United States.
2005 was a record year for industrial machinery production in the Americas, with a total production value of close to $150 billion. The US dominated the sector, producing close to 80% of the region’s total output. Brazil and the Rest of Latin America have experienced the fastest growth in machinery production since 2002, expanding by more than 4.4% per year. Overall, machinery production in the Americas has increased by an average of 3.8% over the last four years.
Food, beverage & tobacco machinery, machine tools and robotics manufacturing were the areas with the highest growth since 2002. Packaging and printing machinery production grew slowly, while textile machinery production actually contracted over the last four years. According to market research analyst Alex Chausovsky, “In recent years production of machinery that require complex manufacturing processes, or high technical expertise, have been thriving in the Americas. This can be seen in the case of machine tools and semiconductor machinery production growth. On the other hand, machine types that are less technically demanding to build have suffered, with increased competition emerging from low cost regions such as China and India.”
About IMS Research
IMS Research is a supplier of market research and consultancy services on a wide range of global electronics markets. The company is supported by headquarters in Wellingborough, UK and offices in Austin, Texas and Shanghai, China. IMS Research regularly publishes detailed research on machinery production markets, targeting twelve different machinery types and their respective automation content. www.imsresearch.com