'Manufacturing renaissance' will boost North American growth
Siemens executive projects revenue boom in next five years at ProMat
The continuing momentum around manufacturing’s growth over the past four years is changing the way suppliers are examining and serving the market, a top Siemens executive told a press conference at the opening of the ProMat Show, sponsored by the Material Handling International.
“North America is on the cusp of a manufacturing renaissance,” said Doug Keith, president of Siemens Drives Technology. “When you look at the U.S., Canada and Mexico, that’s 25% of the world’s economy. We think between now and 2018, North America will make up 20% of the global GDP growth. We think it will grow $600 billion between now and 2018.
“That means shortening product lifecycles, and reshoring of jobs to be closer to our customers,”
Keith added. “It’s important to understand what supplier like Siemens what can drive cost efficiency and automation efficiency. My personal opinion is that the manufacturing sector will have greater growth in the next few years than GDP as a whole.”
Siemens was at ProMat at McCormick Place in Chicago to announce its domestic launch of its new Simogear family of geared motors, its Sinamics V20 inverter and Simatic S7-1500 controller, all targeted for the conveyor market.