New Capital Projects in Industrial Manufacturing

[dot_recommends] July 12, 2022 Manufacturing Trends

2022 industrial manufacturing capital projects could present sales opportunities

Shows 2022 trends in industrial capital projects that indicate a strong year for capital spending investment so far in industrial manufacturing facility development.

We’re updating our previous blog post on new industrial manufacturing capital spending projects. We monitor planned capital improvement projects as a way to add value to our marketing services for manufacturers.

Why care about capital spending projects?

New projects present one measure of manufacturing industry health. Also, new projects present opportunities for supplier contracts if you’re a supplier for building materials, machinery, or other equipment and supplies relevant to facility development.

High Investments Continue in Manufacturing Facilities

So far in 2022, over 700 planned industrial manufacturing capital projects have been reported for North America. These projects include expansions as well as new plant construction and large modernization projects in the industrial manufacturing sector.

As shown in the image above, the total number of new planned projects has been holding fairly steady each month so far in 2022.

  • 137 in January 2022
  • 145 in February 2022
  • 152  in March 2022
  • 148 in April 2022
  • 142 in May 2022

In May alone, 124 manufacturing or production facilities were planned. 12 facility construction projects will likely exceed $100 million in investments. The largest project, an aluminum products manufacturer in Alabama, came in at $2.5 billion in planned spending!

Top 10 States for Planned Industrial Manufacturing Capital Projects

Top states in the U.S. for planned projects range from coast to coast and border to border!

In May, the top location for planned projects was North Carolina with 13 projects announced. Indiana had 9 projects announced. California saw 8 projects announced.

Six states tied for 6 projects planned each: New York, Ohio, Pennsylvania, Tennessee, Washington, and Wisconsin. Previous months also included Texas, Michigan and South Carolina.

What does all of this mean for you?

  • First, the continued strength in capital project activity is a great sign of health in the manufacturing sector.
  • Second, this activity increases opportunities for sales of each and every component and piece of equipment that goes into facilities and warehouses.
  • Third, you may want to get an SEO (Search Engine Optimization) checkup done on your website to make sure it will attract buyers searching for suppliers.

Buyers for these projects will be online searching for suppliers. Your sales team knows how to pursue identified leads, but is your website optimized to get you found by buyers searching online?

Update your SEO (Search Engine Optimization) for your manufacturing website to get noticed. Then, keep the attention of buyers by ensuring your website says all the right things in the right way to meet their needs.

Get our free whitepaper on content and lead nurturing to ensure you capture your share of the pie from upcoming capital projects.

What manufacturing metrics do you monitor? We’d love to hear about it!

Let’s talk! Or, connect with us on LinkedIn or Tweet us.

–parin
Managing Partner

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