McLean, Va. (August 9, 2021) – Orders for manufacturing technology totaled $490.3 million in June 2021, according to the latest U.S. Manufacturing Technology Orders report published by AMT – The Association For Manufacturing Technology. This is a 9% increase over May 2021 and a 42% increase over June 2020. For the first half of 2021, orders totaled $2.51 billion, a 49% increase over the first half of 2020 and the largest half-year period since 2018.
“The manufacturing technology industry has rebounded from the pandemic-induced recession in a phenomenal way,” said Douglas K. Woods, president of AMT. “The first half of 2021 is only 3% below 2018, when orders were at a two-decade high. Not only has the industry recovered from the 2020 slump, but orders are now exceeding the pre-pandemic trend.
“In May 2021, we noted the increase in orders for manufacturers of metal valves. In a similar fashion, manufacturers of hardware, springs, screws, nuts, and bolts have significantly increased orders in June 2021. These low-complexity, high-volume parts can be shipped within weeks of a machine being delivered. Production of these commodity parts domestically appears to be an effort by manufacturers to diversify their supply chains in response to the global climate of material and shipping constraints. In addition to metal parts, demand for petroleum products up and down the supply chain has driven the price of crude oil to the highest level since October 2018. In order to meet this need, manufacturers of oil and gas field equipment have also increased orders dramatically.
“We also note that medical equipment manufacturers increased orders substantially in June, with orders up almost 60% compared with the first half of 2020. While manufacturers were in a sprint to produce PPE and ventilators this time last year, we’re seeing more sales of multi-function machines as the items produced are shifting back to components required for delayed elective surgeries. According to a paper published at the end of 2020, there could be as much as a 36-month backlog in knee and hip replacement surgeries alone, so manufacturers of these components will continue to be busy into the future. The current situation in the medical industry is emblematic of what is happening across the economy. As pandemic restrictions are eased, a massive rebound in demand is putting strain on producers and generating an economy-wide need for additional manufacturing technology.”
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The United States Manufacturing Technology Orders (USMTO) Report is based on the totals of actual data reported by companies participating in the USMTO program. This report, compiled by AMT – The Association For Manufacturing Technology, provides regional and national U.S. orders data of domestic and imported machine tools and related equipment. Analysis of manufacturing technology orders provides a reliable leading economic indicator as manufacturing industries invest in capital metalworking equipment to increase capacity and improve productivity.
AMT – The Association For Manufacturing Technology represents U.S.-based providers of manufacturing technology – the advanced machinery, devices, and digital equipment that U.S. manufacturing relies on to be productive, innovative, and competitive. Located in McLean, Virginia, near the nation’s capital, AMT acts as the industry’s voice to speed the pace of innovation, increase global competitiveness, and develop manufacturing’s advanced workforce of tomorrow. With extensive expertise in industry data and intelligence, as well as a full complement of international business operations, AMT offers its members an unparalleled level of support. AMT also produces IMTS – The International Manufacturing Technology Show, the premier manufacturing technology event in North America. www.amtonline.org
IMTS – International Manufacturing Technology Show - The largest and longest running manufacturing technology trade show in the United States is held every other year at McCormick Place in Chicago, Ill. IMTS 2022 will run Sept. 12-17. IMTS is ranked among the largest trade shows in the world. Recognized as one of the world’s preeminent stages for introducing and selling manufacturing equipment and technology as well as connecting the industry’s supply chain. IMTS attracts visitors from every level of industry and more than 117 countries. IMTS 2018 was the largest in number of registrations (129,415), net square feet of exhibit space (1,424,232 sq. ft.), booths (2,123) and exhibiting companies (2,563). IMTS is owned and managed by AMT – The Association For Manufacturing Technology. www.IMTS.com