Gear producers report constructive outlook for 2021

Because the business emerges from a full 12 months beneath the COVID-19 cloud, a transparent majority (88%) of kit producers report a constructive outlook for 2021, in accordance with a brand new survey launched by the Association of Equipment Manufacturers

Greater than half (55%) of the respondents from main gear producers anticipate gross sales to extend or stay secure regardless of the continued impression of the worldwide pandemic. The web survey was focused to workers of AEM member corporations and consists of outcomes from greater than 130 respondents, together with CEOs, vice presidents, and gross sales and operations leaders, amongst others.

“The gear manufacturing business has continued to function all through the COVID-19 pandemic and has efficiently adjusted to challenges to make the gear that builds, feeds, and powers our nation,” stated AEM President Dennis Slater. “Gear producers have begun to show the nook. We now want Congress and the President to cross long-overdue laws that may put money into and modernize our nation’s infrastructure.” 

Trying on the largest challenges dealing with firm executives and the gear manufacturing business as a complete in 2021, respondents indicated that the lingering COVID-19 pandemic and protecting workers protected and on the job stay the highest issues, adopted by discovering expert staff for brand new jobs being created. 

Turning to how the COVID-19 pandemic is altering the office, one in eight respondents stated that it’s going to have an enduring impression on how they work. Face-to-face conferences with colleagues and work journey are the highest two actions they look ahead to in 2021.

Further high survey findings embody:

  • A transparent majority (88%) have a constructive outlook for 2021 whereas just one in ten has a damaging outlook for the brand new 12 months.
  • One in 5 (19%) stated that gross sales are up whereas one in three (36%) indicated that gross sales are secure.
  • Virtually half of respondents (45%) stated that gross sales are down because of the COVID-19 pandemic.
  • Greater than two thirds (68%) stated that commerce exhibits shall be totally different (together with digital choices) following the COVID-19 pandemic, whereas 1 / 4 stated commerce exhibits will stay the identical.
  • 80% stated the COVID-19 pandemic can have an enduring impression on how they work.
  • Virtually half (45%) indicated their work productiveness elevated throughout the COVID-19 pandemic whereas one in three (36%) stated their effectivity went down.
  • One in 5 respondents stated that the COVID-19 pandemic induced them to contemplate retiring early, whereas eight in ten stated that the worldwide well being disaster has not impacted their retirement plans.

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