Engineered Products: Insights from our Pulse-Check H1/2024
Our H1 report shows that leading experts from the companies in the Engineered Products industry see a positive market trend with increasing sales, but also increased order volatility. This is also reflected in the short-term prioritization of profitable growth, while sustainability and product digitization lose immediate emphasis. Respondents emphasize especially labor and raw material costs as main cost driver necessitating strategies to improve operations, optimize procurement, and leverage energy cost reductions to mitigate these expenses. Furthermore, the survey underscores that digital trends, especially the digitization of maintenance and service as well as GenAI, are here to stay and should be on the agenda of every manager. As a currently underrepresented topic, exploring recurring revenue models could provide a competitive advantage for early adopters.
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- Engineered Products: Insights from our Pulse-Check H1/2024
Here are our 5 Key Insights in H1/2024:
- Increased sales and order volatility is expected, particularly affecting small and medium enterprises, while larger companies remain neutral
- Scalable flexibility in operations and cash-flow improvement through NWC optimization, is crucial to gain traction in the short term and effectively manage volatile growth
- The current market sentiment prioritizes profitable growth, while sustainability and product digitization lose immediate emphasis
- Labor and raw material costs remain significant cost drivers, necessitating strategies to improve operations, optimize procurement, and leverage energy cost reductions to mitigate these expenses
- Digital trends continue to be a key long-term focus for decisionmakers, particularly the digitization of maintenance and services, while exploring recurring revenue models) could provide a competitive advantage for early adopters while not yet on the mind of others
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Sandra Stoll
