A comprehensive analysis and glimpse into future manufacturing growth and industrial demand
Insight
U.S. Manufacturing Renaissance
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Geopolitical tensions, tariffs, supply chain vulnerabilities, and economic development projects have emerged as the primary drivers shaping global trade and manufacturing strategies. Recent research conducted by JLL, which has been monitoring shifts in international commerce and production patterns, underscores the growing significance of relocating manufacturing operations in closer proximity to end consumers.
Key Trends:
- JLL’s Industrial Tenant Demand Study report projects future manufacturing demand requirements to account for over 18.8% of the total, marking a 354% increase since 2018.Growth appears to be concentrated in major markets, driven by land, power, labor, and advanced manufacturing needs.
- The U.S.manufacturing sector is characterized by aging infrastructure, with over 52% of inventory being 30-60 years old.However, there's a growing demand for modern facilities that can support advanced manufacturing processes and meet sustainability standard.
- Manufacturing growth driven by legislation, technology, and infrastructure needs.Challenges include power, labor, and sustainability. Opportunities in tech adoption, international expansion, and sustainable practices offer competitive edge.