Industrial OEM Performance Report H1 2020

White Papers | Sep 2020

OEM Performance Report

Industrial OEM Performance Report H1 2020

The quarterly performance report for Industrial OEM’s is out for Q2 2020. We sifted through the comprehensive set of statistics, from Jan 2020 to June 2020, published by census.gov and distilled the data for industrial manufacturing.
The primary sub-sectors addressed are – HVAC Equipment, Industrial Machinery, Mining, Oil/Gas Field, Turbines, Generators, Power Transmission, Material Handling, and Construction Machinery.

Key Highlights:

  • New orders dropped almost 9% from January 2020
  • Unfilled orders reduced slightly and showed a small improvement at 4.3%
  • The biggest concern is that inventory has barely moved and reduced by a mere half a percent. That also reflects in shipments dropping by a whopping 7% as compared to -3.4% at the end of Q1.
  • Overall, the numbers continue to paint a rather stunted growth trajectory
  • The general slowdown in real estate and construction is immediately visible with a dramatic drop in new shipments of 18% and an accompanying drop in new orders by 16%. Overall construction machinery manufacturing comes across as the second-worst affected based on the data published so far.
  • No surprises that oil, gas, and mining comes across as the worst affected with a 23% drop in the shipments and a 24% drop in the new orders.
  • Industrial Machinery continued to slow down and accumulated almost 15% excess inventory.
  • HVAC performed better amongst the pack, with 8% more shipments and a sizeable decrease in unfilled orders as well as excess inventory.
  • Material handling was able to offload the highest amount of inventory at a whopping -18%

Reference: https://www.census.gov/econ/manufacturing.html

 

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