For engineers and sourcing professionals around the world, there's growing opportunity to save money and get parts and products made faster by sourcing expert Forging companies based in the United States.
According to a recent survey of thousands of North American Forging experts conducted by Forging Magazine, many American Forging companies (more than 50%) currently operate below 70% capacity for most of (if not all) year.
Obviously, this means U.S.-based Forging firms are always looking for new work to fill available capacity. But what might not be so obvious is what they're doing to win your business.
Recasting Strategies: American Forging Companies Lead Sector Innovation
In years past, many North American Forging companies relied on exports to keep their businesses up and running. And to some extent, they still do. But in a relatively new trend sweeping through the Forging sector, exports have steadily declined over the past several years.
That means two things: 1.) Forging companies are rapidly reevaluating their manufacturing capabilities and how they manage their open capacity; and 2.) All this realignment means increased opportunity for you.
Why? Because to fill available capacity and gain more work (your work), American suppliers are not only becoming more economically competitive, they're also becoming more technologically savvy in order to better meet your sourcing needs.
Nearly 40% of all respondents [to a recent magazine poll] indicated [they would be investing in technology and new equipment in 2016]. What's more, new robotics and/or forging manipulators are investments indicated by 22.6% of the survey respondents. -- Forging Magazine
And to put the growth and expected expansion of U.S.-based Forging companies into better perspective, researchers and market analysts forecast the global Forging market to grow at a CAGR (Compound Annual Growth Rate) of 8% over the next 5 years.
Those same researchers and analysts expect just the American Forging market to grow at a CAGR of 4.75%. Meaning that the U.S. market alone is contributing is expected to contribute to more than half the global average by 2020, and a lot of that is going to be due to the adoption of technology and advanced manufacturing methods by American Forging firms.
Know Where to Look: The Quickest Way to Find New Forging Manufacturing in the United States
OK. So where do you find many of these hungry-for-work and "technologically savvy" forging companies? On MFG.com, of course.
Our Contract Manufacturing Marketplace was built specifically to help you efficiently find and connect with expert manufacturers around the world for absolutely free. And our manufacturers directory is home to dozens of the most economically competitive, technologically advanced suppliers on the planet.
So whether you've lost suppliers, run into quality issues, or want access to contract manufacturers and job shops who're on the cutting edge, why not float an RFQ out in the marketplace and see what you get? It can't hurt, right?