COVID-19 Economic Impact Tracker: How Supply Chains Are Adapting
Apr 30, 2020, 13:17 ET
CLEVELAND, April 30, 2020 /PRNewswire/ -- The COVID-19 pandemic is causing major shifts in supply chains for a wide range of industries worldwide – from foodservice to motor vehicles. How are the leading industry players adapting in the changing market environment, and what opportunities and challenges are these conditions creating across global supply chains? The Freedonia Group's COVID-19 Economic Impact Tracker is continually updated to keep businesses informed as the economic impact of the COVID-19 pandemic evolves.
Shifting consumer buying habits cause demand for warehouse space to increase
Government stay-at-home order are driving supply chain shifts as consumers increase the amount of shopping they do online and more food and supplies are being distributed through consumer (rather than commercial) channels. These abrupt changes in consumer behavior are causing demand for warehouse space to increase rapidly, which is expected to boost demand for a wide range of building and construction materials, key among them:
- metal roofing, siding, and wall panels
- cement and concrete used to make subfloors, flooring, and such areas as loading docks
- insulation
- overhead doors
- commercial-grade HVAC systems
- material handling equipment, including racks, conveyors, and storage and retrieval systems
- safety equipment and burglar alarms
US automotive industry & supply chains temporarily reshaped
Many US automakers adjusted to slumping new car sales due to COVID-19 by slowing down assembly lines or ceasing production altogether, while other manufacturers have worked to retool production to make ventilators and other needed medical equipment. This contraction of automobile production activity has affected hundreds of companies across the US. For example:
- Suppliers of automobile parts and components have been hard hit as orders for their products have dried up.
- This drop in orders will also affect those companies that provide raw materials to the industry – from steel and aluminum, to plastic resins, rubber, composites, coated fabrics, and glass.
Want to learn more?
For more information, see The Freedonia Group's extensive catalog of off-the-shelf research, including Low-Slope Roofing, Roofing, Roofing Accessories, Global Roofing, Global Cement, Global Cement & Concrete Additives, Insulation in the US, HVAC Equipment, Global HVAC Equipment, Garage & Overhead Doors, Windows & Doors, Global Material Handling Equipment, and Safety & Security Alarms, as well as Global E-Commerce and Packaged Facts' Global Food E-Commerce.
About The Freedonia Group – The Freedonia Group, a division of MarketResearch.com, is a leading international industrial research company publishing more than 100 studies annually. Since 1985 we have provided research to customers ranging in size from global conglomerates to one-person consulting firms. More than 90% of the industrial companies in the Fortune 500 use Freedonia Group research to help with their strategic planning. Each study includes product and market analyses and forecasts, in-depth discussions of important industry trends, and market share information. Studies can be purchased at www.freedoniagroup.com and are also available on www.marketresearch.com and www.profound.com.
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SOURCE The Freedonia Group
