ThomasNet Survey Shows Business Up for Manufacturers

ThomasNet has released its latest Industry Market Barometer research regarding the state of the manufacturing industry. The annual survey of product and custom manufacturers shows continues growth for this sector. Companies are currently hiring, increasing production capacity and investing for more growth.

According to the report, there are positive indicators for manufacturing growth everywhere. Manufacturers are getting more business from their existing markets, and average account values are rising. More than half expect to add staff in the next several months and more companies are selling overseas.

The manufacturing industry is poised for growth, according to a ThomasNet report.

However, there is a troubling trend of finding new talent for the industry, the company states. Yet companies are increasingly offering apprenticeships, providing opportunities to bring in entry-level employees and career changes. For manufacturers who have these programs, 51% now have them implemented and 23% plan to do so. Skills being taught to apprentices include machining, CNC (computer numerically controlled) milling and turning and welding.

One of the current challenges facing the industry is hiring new talent.

“At a time when the American manufacturing sector is poised for a comeback, the talent shortage is the elephant-in-the-room that could impede progress. It will take the concerted effort of every manufacturer to reach across generational lines, and bring in the people who are critical to the industry’s continued success,” said Mark Holst-Knudsen, president, ThomasNet.

For future growth, manufacturers have cited five key areas as having significant impact on their companies in the next two years. They are sustainable and green technologies, advanced materials, design and manufacturing software, automation and robotics and recycling.

For more information, visit ThomasNet.

Sources: Press materials received from the company and additional information gleaned from the company’s website.