The manufacturing industry has been severely impacted by the COVID-19 outbreak and industrial machinery manufacturers are no exception. Many have seen huge disruption to their supply chain and manufacturing operations and many of their customers' operations are facing similar difficulties.International supply chains have been under severe pressure during the crisis which has led to some difficulty sourcing materials. In January, China agreed to purchase an additional $32.9 billion worth of US manufactured goods in 2020 as part of the phase one trade deal. However, due to the COVID-19 crisis China may be unable to meet this requirement.
It is expected that the COVID-19 pandemic will lead to lasting changes in the manufacturing industry. It is likely that manufacturers will prioritize building a resilient supply chain to limit the chance of disruption by future emergencies. Manufacturers may also increase spending on IT infrastructure and automation technologies to enable them to maintain their production levels while minimizing risk to their employees. This could provide a boost to manufacturers of such equipment.
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