If you’re looking for an accurate analysis of the state of the manufacturing industry, then go straight to the source: the workers. Reputable research conducted by industry organizations is invaluable when you’re trying to make decisions for your plant or your business. In this roundup, we’ll highlight the latest surveys, reports, studies, and research that delves into the trends, topics, and technologies that are affecting the manufacturing sector.
American Clean Power Association’s 2024 Clean Energy Investing in America report
Report excerpt:
“Manufacturing was once the backbone of the American economy. In rural areas, manufacturing provided more jobs and higher earnings than other sectors. But U.S. manufacturing is not the driver of local economies it once was. Between 2001 and 2015—a period that included two recessions—manufacturing employment fell nearly 30 percent. In addition, 71 percent of U.S. counties experienced a decline in manufacturing employment. Today, we are experiencing a U.S. manufacturing renaissance, driven by a new wave of scalable, clean energy technologies, federal tax credits, and innovative U.S. companies.”
Key takeaways:
- The U.S. clean energy industry has invested $500 billion into the sector over the past two years, with over $60 billion being invested into the manufacturing industry.
- Investment in clean energy has led to the announcement of 161 new manufacturing facilities, with 42 of those plants already online and operational.
- The clean energy manufacturing renaissance has also led to the announcement of over 100,000 new manufacturing jobs, with 20,000 jobs already being generated.
Quote:
“These historic investments are providing a powerful engine for job creation across the nation. As demand for electricity continues to rise, clean power is answering the call and propelling a new era for American manufacturing. While recent progress is nothing short of remarkable, our ability to deploy new capacity with adequate speed and scale requires dramatic efficiency improvements in federal, state, and local decision making. ACP is encouraged by recent bipartisan progress to confront barriers to modernizing America’s energy economy. If we combine innovations in technology and governing, it is possible to achieve an energy system that is reliable, affordable, secure, and clean.” - ACP Chief Executive Officer Jason Grumet
Augury’s 2024 Machine Health Is Business Health report
Methodology:
Augury partnered with Plant Services to collect the data used in this report. More than 220 industry professionals were surveyed in February 2024. These professionals came from a wide range of industries, including energy, utilities, process manufacturing, and discrete manufacturing, with 65% of the surveyed companies having 1-5 facilities, and 18% having more than 20 facilities.
Key takeaways:
- 29% of respondents say new tech adoption is a top challenge, up from 11% in 2023
- Only 14% of manufacturers use prescriptive asset maintenance solutions
- 59% of those surveyed have sufficient insight into the cost of downtime on their business
Quote:
“The manufacturing industry is a bedrock of our global economy, and an unplanned downtime event can have significant consequences for businesses, people, and society. Amid the rapid rate of change and ongoing macroeconomic obstacles, industrial leaders are optimizing machine health with AI-driven technology to increase resiliency and take proactive - not just predictive - measures to eliminate unplanned downtime.” - Saar Yoskovtiz, CEO and co-founder of Augury
Watch industry professionals interpret the data in a free on-demand webinar
Innova Solutions’ AI Powered Manufacturing Revolution: A Look Ahead with North American Industry Leaders
Methodology:
Innova Solutions partnered with Coleman Parkes to survey 125 business leaders from large companies with an annual turnover exceeding $250 million. The executives, who were selected from the automotive, industrial, defense and aerospace, and process and chemical industries, were influential in shaping and implementing AI transformation strategies.
Key takeaways:
- AI adoption is a priority for 86% of survey respondents, up from 59% two years ago
- AI adoption is expected to reach 93% in the next 18-24 months
- 34% of manufacturers have achieved full-scale deployment of AI into their business
- 36% of manufacturers are already reaping the benefits of large-scale AI adoption
Quote:
“Gen AI is transforming support operations by automating complex tasks and offering 24x7 assistance at scale. It streamlines resource utilization & provides real-time access to training, documentation and troubleshooting information, empowering teams to be more productive while allowing skilled engineers to focus on solving critical problems.” - Praveen Sam, Director - Strategy & Commercialization, Honeywell Industries