As the mid-year shows an increase in planned industrial projects year over year, exploring which area of growth saw the most activity in new construction, equipment upgrades, facility expansion, upgrades to existing facilities and plant closings. June 2024 saw a total of 877 newly identified projects planned with a growth of 12.5% from June of 2023.
In order to reach a deeper understanding of the recently announced industrial projects, Industrial SalesLeads Inc, a provider of manufacturing capital project intelligence, detailed the investments. The analyzed data shows the following sectors most active in June 2024. These include industrial manufacturing, healthcare, construction, building materials and food & beverage round out the top five.
To gain additional insights, it’s worth comparing the data year over year.
1. Industrial Manufacturing: June 2024 new planned industrial projects grew by 9% from the previous year.
2. Healthcare / Pharma: Healthcare and pharmaceutical decreased 11% in June 2024 year over year.
3. Logistics / Supply Chain: Logistics and supply chain increased 18% growth in comparing June 2023 to June 2024.
4. Building Materials: Another winning industrial sector is building materials with a growth of 94% year over year making this sector the largest growth for the month of June 2024.
5. Food & Beverage: June 2024 wasn’t so favorable for the food & beverage sector as new planned projects decreased by 9%.
The June 2024 industrial planned investment lead the way with the most projects ranging between $1 to $10M in investment followed by $10-25M, and $100M. Good news that there were over 40 projects valued at $100M and above in investment.
Regions
According to MNI’s Economic Indicators for June 2024 for the New York Region, Philadelphia Region, South Atlantic Region which includes District of Columbia, Maryland, North Carolina, South Carolina, Virginia, and most of West Virginia, Kansas City Region which includes Colorado, Kansas, Nebraska, Oklahoma, Wyoming, and New Mexico and Missouri, and the Texas Region. Each region showed a mixed result. New York and the South Atlantic Regions decreased year over year with Texas and the Kansas City Regions increasing in new industrial projects.
Data in this article was supplied by Industrial SalesLeads in collaboration with MNI.
