The global manufacturing industry is impacted greatly by three factors: labor, raw materials, and regulations. These three key factors are impacting several sectors in the global manufacturing industry. Presently, the manufacturing sector is undergoing a dynamic shift due to the automation of the industry. Furthermore, the volatile costs of raw materials also tend to greatly impact the growth of the global manufacturing market. Manufacturing ships or airplanes, both of which are rising industries in current times, requires a massive amount of raw material, adding to the overall cost.
The regulation framework in the global manufacturing industry is getting stricter with the growing focus on the environment. Many countries have introduced strict regulations related to emissions and safety. This is greatly impacting the global manufacturing industry. These laws are driving up the corporate operating costs and call for research and development of products on biomaterials. Geography-wise, the U.S. represents over a fifth of the global manufacturing market. However, players from Europe and North America are increasingly shifting their production plants to the emerging markets in Asia Pacific and Latin America. This is driving the economic growth of the developing markets significantly.
Some of the top manufacturers in the world include Apple (electronics), Reynolds American (tobacco), Western Digital (computer hard drives), and Tempur-Pedic (mattress). The research studies on the global manufacturing industry offer in-depth research on several sectors in the industry such as apparel, electronic and electrical equipment, fabricated metal, paper, petroleum refining, tobacco, rubber, leather, and lumber.