Release date: 01-10-2020SKU: MSG-GL-COVID19-007
MSG explores the top risks and opportunities impacting the industrial equipment & machining sector, owing to the prevalence of COVID-19.
COVID-19 outbreak severely impacted the global manufacturing industry and the demand for industrial equipment & machining from the manufacturers. This sector witnessed a massive disruption in the entire manufacturing operations and supply chain, and many of the companies are facing issues attracting customers who are facing similar difficulties. In this pandemic, the worldwide supply chain has been under severe pressure, which reduces the availability of sourcing materials. It is estimated that China agreed to invest an additional USD 32.9 billion to purchase the US manufactured goods in January 2020, as part of the phase 1 trade deal. However, China may be unable to meet this requirement owing to the prevalence of coronavirus.
It is expected that the COVID-19 pandemic will lead to long-term in the manufacturing industry and companies' operations in the entire supply chain. Manufacturers are expected to prioritize implement a resilient supply chain to reduce the risk from future emergency disruption. Perhaps, manufacturers are also likely to the rise in their IT infrastructure and automation technologies spending to continue the production without the interruptions from the virus fears among the employees. The incorporation of advanced technologies and change in supply chain planning is expected to boost the manufacturers' revenue in the industrial equipment & machining sector.
To read more about how we believe the industrial equipment & machining sector can manage the current pandemic scenarios, inqure about our report.
Key Issues Addressed
Considering the COVID-19 impact on the industrial equipment & machining industry is carried out through various lenses, and many critical issues identified in the COVID-19 impact strategic insight report include:
• Specific key trends have begun to accelerate due to the crisis, reshaping both demand and supply across industries
• Other trends that probably decelerate or halt due to the COVID crisis
• Trends that are essential before the pandemic and post-pandemic directions to shape the industry
• Key uncertainties and challenges that should be considered in strategy and business planning
• Detailed consideration of scenarios that compare the reach of the pandemic versus the industry impact arising from changes in end-consumer behavior
• A set of both recovery and thrive oriented actions for market participants and players
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