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U.S. expected to lead as the top manufacturing nation by 2020, says Deloitte report
- December 9, 2015
- News Release
- Shop Management
The U.S. is expected to become the most competitive manufacturing nation over the next five years, with the current leader China sliding into second position, according to the upcoming "2016 Global Manufacturing Competitiveness Index" report from Deloitte Touche Tohmatsu Ltd.'s Global Consumer & Industrial Products Industry group and the U.S. Council on Competitiveness.
The prediction is based on an in-depth analysis of survey responses from more than 500 CEOs and senior leaders at manufacturing companies around the world. The country index rankings are included in a preview of findings released at the Council's annual National Competitiveness Forum held Dec. 4, 2015.
"The '2016 Global Manufacturing Competiveness Index' shows the importance of policy, investment, and innovation for company- and country-level competitiveness," said Deborah L. Wince-Smith, president and CEO of the Council. "Its findings help companies shape their business strategies in order to compete successfully and create jobs."
The ability of the U.S. to take the top spot may be largely due to the country's investment in research, technology, and innovation, which enhances the competitiveness of its industries and drives economic development, according to the study “Advanced Technologies Initiative: Manufacturing & Innovation,” a 2015 report also published by Deloitte Global and the Council.
"Manufacturing competitiveness, increasingly propelled by advanced technologies, is converging the digital and physical worlds within and beyond the factory to both customers and suppliers, creating a highly responsive, innovative, and competitive global manufacturing landscape," said Craig Giffi, a leader in Deloitte U.S. Consumer & Industrial Products Industry group and co-author of the report.
The Index forecasts that the top 11 countries will remain consistent between now and 2020, with some exchange of rankings. In addition to China and the U.S. retaining the top two spots, Germany and Japan will remain at third and fourth, respectively. India, currently 11th on the list, is expected to jump to as high as fifth place. South Korea, Canada, and Singapore are expected to drop one spot each because of India's rise, while Taiwan and the U.K. are expected to drop two spots. Mexico, meanwhile, is expected to move up from eighth to seventh.
The next nine spots, however, show how the industry anticipates that developing markets will continue to mature and become more formidable over the next five years. Malaysia is expected to rise from 17th to 13th, Vietnam from 18th to 12th, and Indonesia from 19th to 15th. Conversely, European nations including Switzerland, Sweden, Poland, and Netherlands are expected to drop as many as six spots in their ability to compete.
In addition to the country ranking, the report preview identified the top drivers of manufacturing competitiveness. Talent was the leading driver, with access to skilled workers widely seen by executives surveyed as the most important factor, followed closely by the cost of wages and materials. Productivity of the workforce rounded out the top three. The availability of a quality local supplier base was a distant fourth.
Visit www.deloitte.com/globalcompetitiveness to learn more about the "Global Manufacturing Competitiveness Index" and "Advanced Technologies Initiative" efforts.
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