This is set to be a record year for worldwide machinery production, recording aggregate 10.2 percentage growth, according to IMS Research. The report titled, “Machine Production Yearbook – 2011” further points to the fact that this trend is forecasted to continue through the forecast period to 2014.
The machine sector was amongst the hardest hit by the economic downturn, and given the long-lead nature of the business – it was also one of the last to suffer. However, according to the latest report from IMS Research, worldwide production of machinery is set to eclipse its previous record, set back in 2008.
In the Americas, where machinery output is still dominated by North America, the decline in 2009 was more severe, and the subsequent recovery more gradual. That said, the recovery has been such that 2011 is predicted to be a record year for machinery production.