Industrial automation equipment is forecasted to grow 6.2% in 2013

IHS' IMS Research has forecasted the market for industrial automation equipment (IAE) is set to grow 6.2% in 2013 to approximately $170 billion. "The more optimistic outlook for 2013 contrasts with the anemic market conditions of last year that had been aggravated by the interconnected nature of a globally linked space" says Jenalea Howell, research manager for the Industrial Automation service at IHS. “The interdependence of the world’s industrial markets came to the fore during 2012 and made its presence felt as weak demand in some regions hit the exports of others, causing revenue from industrial automation equipment (IAE) to grow only 3.7 percent,” noted Howell. More points on this market from IMS listed below: In addition, overcapacity in several industrial markets, following two years of strong growth in China, led shipments to fall by more than 2 percent. Growth in the US will be a benefit rather than requirement in 2013 Conditions all around have now improved, however. For one, leading indicators—including machinery orders and manufacturing activity—point to increasing demand for industrial products during the next six months. Moreover, progress has been observed in the markets of China, Europe and the United States in the first half this year, fueling confidence that the IAE space is headed toward renewed vigor. In China, manufacturing indices indicate ...