Manufacturing as a term depicts a process of planning and producing any form of a commodity or product for general or particular utilization. This sector has more often than not remained in the profitable arena in most parts of the globe. Especially in developed countries such as UK, US and other European nations the industry is well renowned as manufacturing as an activity goes on in a non-stop basis with the up surging demand levels. It is turning on to become a bigger industry recording higher revenue figures on a year on year basis as the number of products under various categories are continuously increasing and so is the demands for these products are.
Futuristic Trends for the Manufacturing Units:
According to a recent study by a popular research body Manufacturers Alliance for Productivity and Innovation (MAPI) the sector is ready for further growth trends as positive factors as new investors, growing demands, broader markets around the globe dominate the condition of the industry. By the third phase of the financial year 2013; the industry grew by 1% however the growth was massive in the following quarter as the inflation adjusted GDP increased at a rate of 3.6% annually. Further the report indicates the manufacturing production activity to grow at a rate of 3.1% by the end of 2014. This increase may be way ahead in the following year (2015) as it is expected to exceed above the 4.1% mark. The growth behavior is forecasted to continue and the sector is expected to have a hike period from year 2014-2018. The average growth rate is marked to be around 3.2% for the two year span from 2016 to 2018.
Employment gets a boost due to increased production:
Besides the consumer driven manufacturing growth, market research suggest that there will be massive employment growth. The business driven industry of manufacturing will continue to be the governing force as most of the companies have already positioned themselves for attractive investments for the future. These investments are mainly about to happen into infrastructure and equipments, this ends up to be a profitable activity for the companies as their utilization rate is high, they are not in a debt mode and are recording sizable profits every quarter.
India emerging as a leader:
India as the fastest developing nation is in the spotlight to play a vital role. The sector in the region is forecasted the highest growth rates for the years that follow.
According to a finding, the non high-tech manufacturing sector which comprises of 95% of the total sector grew at rate of 3% for the year 2014 and the same is predicted to get a hike of 4% for 2015.
Whereas, the high-tech manufacturing segment is estimated a growth rate of 6.8% for 2014 and the same is projected to expand to 8.4% by the end of 2015. 7% annual growth is the rate predicted for sections like household appliances and automobiles.