Future of European Manufacturing Industry | Read Infiniti’s Latest Blog for More Insights on the Key Factors Driving Profitability and Growth
A well-known market intelligence company, Infiniti Research, has announced the completion of its latest article on the future of manufacturing in Europe. In this blog, experts at Infiniti explore some of the key forces that will drive transformation in the future of manufacturing in Europe and disrupt its manufacturing sphere.
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Future of manufacturing in Europe. (Graphic: Business Wire)
Europe’s 2020 agenda for digitization and Horizon 2020 plan for R&D funding are significant initiatives to facilitate a more sustained and competitive economy. These long term strategies will eventually trickle down to the manufacturing sector, which currently accounts for nearly 15% of Europe’s GDP. These advancements will also play a significant role in the future of manufacturing in Europe.
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Future of Manufacturing in Europe
Nearshoring in Eastern Europe
Although Western Europe is often considered the hub for manufacturing activities, Central and Eastern European countries including Hungary, Poland, Romania, and the Czech Republic are expected to become pivots for manufacturing innovation.
Rise of industry 4.0
Large sums of money are being allocated as a part of the Horizon 2020 R&D funding program. As a result, significant advancements in computing, sensor technologies, and robotics in the future of European manufacturing sector can be expected.
Carbon neutral manufacturing processes
The rising concerns relating to climate change and carbon emission are putting pressure on European manufacturing companies to resort to more eco-friendly production processes. From a manufacturing industry standpoint, it is vital to optimize current energy consumption in the manufacturing plant and focus on electricity from renewable sources.
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Demand for highly-skilled workforce
The demand for low-skilled manufacturing jobs is on a steady decline. The future of manufacturing in Europe will soon undergo a structural shift due to the rising demand for highly skilled and efficient workforce.
Disruption of nanotechnology
Nanotechnology is one of the critical enabling technologies in Europe’s Horizon 2020 plan. This will proliferate new opportunities in sectors such as food and beverage, where non-scale polymers can be used to prevent oxygen from spoiling the food.
Energy and geopolitics
From a political standpoint, an important talking point is the lifting of the Iran Sanctions, and Russia and China coming together due to the economic climate in both countries. As a result, there was a cheaper dumping of goods, as was seen with the steel industry.
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About Infiniti Research
Established in 2003, Infiniti Research is a leading market intelligence company providing smart solutions to address your business challenges. Infiniti Research studies markets in more than 100 countries to help analyze competitive activity, see beyond market disruptions, and develop intelligent business strategies. To know more, visit: https://www.infinitiresearch.com/about-us
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