The industry has suffered major losses throughout the recession, forcing many companies to cut spending significantly, but research by Industrial Info Resources has revealed today that there is light at the end of the tunnel, with many firms beginning to feel confident enough to start spending again.
Much of the renewed confidence boils down to three primary sectors within the industrial manufacturing industry: rail, semiconductors, and automotives.
This is a strong sign of growth, given that the automotive industry was one of the first to show massive losses when the recession hit home in 2008, while the semiconductor industry has also had to scale back production to match falling demand, due to businesses being reluctant to upgrade their IT departments.
The research revealed that spending in 2010 was very slow for the first half of the year, but increased steadily over the second half. The fourth quarter is not yet over, but it is expected to show solid spending, which will continue on into the first quarter of 2011.
Spending in these areas will help encourage growth within the industrial manufacturing industry and stimulate the wider economy, suggesting that 2011 may see major recovery for many within the semiconductor and related fields.