VILNIUS, Lithuania, Oct 23 (Bernama-BUSINESS WIRE) — Around 30% of manufacturing companies plan to increase production localisation efforts over the next 6 months to better shield from future risks, according to global market research company Euromonitor International.
The production localisation progress would make global supply and logistics chains shorter and provide new growth opportunities for North American and European suppliers. In addition, changing economic conditions and consumer preferences will impact the manufacturing sector, which will have to adapt to the ‘new normal’. Thus, the future of the global manufacturing industry will be defined by five key trends by 2025:
