The manufacturing industry has been going through some significant changes in recent years and is predicted to continue growing. Over the next decade, nearly 3.5 million new manufacturing jobs will be created, but the skills gap will prevent two million of those jobs from being filled. Additionally, as more and more people have been going digital, several new trends have emerged. These innovations will soon become mainstream, so it is essential for anyone working in the manufacturing industry to understand the following five trends.
Globalization is one of the most critical manufacturing trends in the next 10 years. More and more companies are now creating products internationally, which has led to an increase in exports and limited reshoring. This trend will only continue as international sales continue to grow. Some parts of the industry have seen this trend decrease manufacturing jobs because these companies are outsourcing work to lower-cost locations like China or Mexico.
The manufacturing industry is expected to see a rise in automation. Manufacturers invest heavily in robotics and automation technologies as they anticipate more efficient processes and better quality outputs. This trend is predicted to continue, with over 70% of manufacturers expecting an increase in automation by 2030. The increased use of automation will significantly improve efficiency for businesses, which will result in less waste and higher revenue.
Self-manufacturing has been rapidly growing because it is more cost-effective for businesses. With self-manufacturing, companies avoid the costs associated with hiring a manufacturer and paying for shipping. This trend will continue to grow in importance as more people turn to outsourcing strategies to maximize their profits.
Industry and Government Collaborations
Industry and government collaborations are becoming more commonplace. Governmental collaboration with industry is a trend that is already taking place. For example, the United States Federal Government’s Manufacturing Extension Partnership (MEP) helps small businesses with grants and other resources. The MEP supports companies with expertise in manufacturing technology, material science, and innovation. These collaborations will continue to grow in both industries over the next five years.
Technology and Science
The manufacturing industry will continue to rely heavily on technology and science. To be competitive globally, companies need to make their products more innovative and efficient. This is going to be accomplished through automation, robotics, and digitization.
It is wise to understand and observe manufacturing trends, as they will shape the world we live in. Consider keeping yourself up to date on the current trends in 2022.