For the past five years, capital investments across the U.S. have held steady, with approximately 9,000 identified industrial projects including capital expenditures, industrial facility expansions, and new manufacturing plant construction projects, according to Industrial SalesLeads. Additionally, the number of identified industrial projects held steady throughout the year, averaging over 2,000 active industrial projects per quarter.
Industrial Renovations Continue to Dominate
Industrial facility renovation projects, whether needing to improve utilization of existing space, allow for new production equipment and/or plant upgrades / reconfigurations, are the fastest and most efficient ways for manufacturers to stay on top of market demand.
According to Prestige Economics’ presentation in December 2024, the U.S. manufacturers have an optimistic outlook for many of the industries. The economist projects for 2025, e-commerce, non-durable goods and industrial technology are strong and primed for expansion. However, mining, metals and energy are expected to experience stable growth, while RV’s and other categories largely tied to consumer discretionary spending may be in the recession category.
Stated in the economic update was the US and China directive. This is where both countries are ‘banning’ or de-coupling each other’s hardware and software supply chains. It’s also been reported that most U.S. manufacturers in China have already begun to move out of the country, or are making contingency plans to do so; especially those that manufacture goods with dual use purposes in consumer and military such as semiconductors, computers and phones, etc.
Bright Spots and Opportunities
It should come to no surprise that the states of New York, Texas, California, Florida and Georgia lead the United States for the number of industrial identified projects. Back in June 2024, MNI highlighted the top 10 manufacturing companies in Texas along with some statistics and data for a closer look at the growth of the state.
In taking a look at the largest producer of industrial projects, New York, one of the major investments in 2024 was GlobalFoundries, Inc., a semiconductor manufacturer with plans to finance $12 billion for the construction of a 358,000 square foot manufacturing facility on their existing campus. The industrial project includes the expansion of their existing plant. The company shared with Industrial SalesLeads’ researchers that construction of the expansion is expected to start in 2025.
Overall Outlook for 2025
As 2024 begins to quiet down, the outlook for 2025 is projected to be a busy one. Be sure your organization is prepared to take advantage of the uptick in business. Be sure to:
● Get your U.S. manufacturers, suppliers, and industrial service providers with comprehensive B2B company & contact data.
● Get help getting in the door at your target accounts, with appointments scheduled so your sales team can work in the funnel and close more business
● Be more visible to potential industrial buyers in search of what your company provides, with enhanced listings that maximize buyer attention and brand recognition through high search visibility and easy access to your company's information.
● Uncover and track new and planned industrial projects that include new plant construction, expansions, relocations, plant closings and capital equipment modernization.
