Manufacturing and construction sectors account largest share of global GDP and employment. Growth across both industries was declining for last decade owing to global economic recession; however, now growth has started to recuperate due to improvement in economy across developed and emerging countries. Broadly, manufacturing is involved in most of the major sectors like engineering, construction, metalworking, electronics, energy, textile, chemical, food and beverage, plastic, transport and telecommunication, among others.
Whereas, construction refers to process of building residential and commercial complexes, industry plants and government infrastructure. Geographically, emerging markets controls more than half of the market share of construction sector with China and India contributing primarily to the growth. In the near term, Middle East and Africa are expected to overtake Asia Pacific region owing to investments in infrastructure and building sectors picking up in countries like Saudi Arabia, Qatar and United Arab Emirates (UAE).
Manufacturers are adopting various technologies to improve production processes and compete in the market. Emerging technologies in the manufacturing sector include 3D printing, Internet of Things (IoT), nanotechnology, robotics and cloud computing. 3D printing or additive manufacturing uses 3D designs to build components by deposition of various materials. Additive manufacturing enhances quality and reduces overall cost and lead time of manufacturing components. In addition, use of atomically precise manufacturing (APM), an advanced level of nanotechnology, in manufacturing is expected to change the overall dynamics of the manufacturing industry.
Various big manufacturing companies operating in developed markets are shifting their manufacturing or machining centres in Asia Pacific countries like China, India and Thailand. Consequently, Asia Pacific region is expected to dominate the global manufacturing market.
Environmental concerns, shortage of skilled workers and stringent regulations & compliance are some of the challenges faced by the manufacturing industry.
ASDReport.com provides an extensive collection of reports on manufacturing and construction sector. The reports cover various sub-sectors of manufacturing sector like automation components, industrial components, construction equipment, machines & parts, metals, abrasives, special material, buildings & improvement and much more.
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