Dmitry Kalinovsky/Dreamstime
Automatic Cnc Grinding Machine Turning Bolt© Dmitry Kalinovsky Dreamstime
Automatic Cnc Grinding Machine Turning Bolt© Dmitry Kalinovsky Dreamstime
Automatic Cnc Grinding Machine Turning Bolt© Dmitry Kalinovsky Dreamstime
Automatic Cnc Grinding Machine Turning Bolt© Dmitry Kalinovsky Dreamstime
Automatic Cnc Grinding Machine Turning Bolt© Dmitry Kalinovsky Dreamstime

Orders of Manufacturing Tech Hit Nearly $6 Billion in 2021

Feb. 15, 2022
A report from the Association for Manufacturing Technology finds orders rose 55% compared to 2020.

Last year was a banner year for sellers of manufacturing technology. According to a February 14 report from the Association for Manufacturing Technology, technology orders from manufacturers broke $5.9 billion last year, the highest year on record.

According to AMT, the later half of the year in particular saw orders increase dramatically. August through December 2021, the association reported, saw a streak of orders breaking $500 million each month, the first such five-month streak on the agency’s records.

In total, the $5.9 billion spent on manufacturing technology in 2021 was more $2 billion more than in 2020. AMT reports the $5.9 billion in 2021 orders beat 2020’s $3.8 billion total by 55%.

 “After five straight months of historically high orders, it is difficult to describe 2021 as anything other than exceptional,” said AMT President Douglas Woods.

Woods went on to note that much of the growth in orders came from areas that “were not typically industry drivers,” including construction. AMT reports manufacturers saw “outsized demand” for grinding machines used to produce drill bits and other construction tools to meet demand in last year’s housing market.

Woods predicted that the boom would temper soon, though: “While forecasts still call for optimism in 2022, we do expect to see some pullback in the first few months of the year,” said Woods, citing expanded backlogs, key component shortages, and unfilled jobs. 

Popular Sponsored Recommendations

A Guide to Payment Fraud Detection

Dec. 18, 2023
This guide explains the basics you should know about payment fraud, along with three tangible steps you can take to help your organization better mitigate the risk of payment ...

2023 Recruiting Trends in Manufacturing

March 8, 2023
What does the future hold for recruitment in the manufacturing industry? Gem surveyed nearly 100 seasoned talent acquisition professionals in manufacturing to understand their...

Industry Insights: The Use of Private Cellular Networks in Manufacturing

Aug. 14, 2023
Private 5G cellular networks equip manufacturers with a powerful technology, improving their operations, increasing their security and accelerating their digital transformation...

The State of Digital Manufacturing Report 2023

May 8, 2023
Manufacturers Brace for an Uncertainty by Continuing Digital Transformation and Sustainability Initiatives.

Voice your opinion!

To join the conversation, and become an exclusive member of IndustryWeek, create an account today!