Page 6 - Machines+Italia+Vol+XIV+2022+Coping+with+the+Certainty+of+Uncertain+Times

2022 AWARENESS STUDY
Other than U.S.-based suppliers, which tended to score the high- est, Italy was ranked among the top four of the 10 other countries assessed on eight of eleven buying parameters—and was in the top five in the rest. The top two reasons indicated for purchasing Italian machinery are that the equipment offers good value for the money (52%) and are high-quality products (47%), followed by competitive prices (36%) and a strong reputation (34%).
Respondents from companies with more than 100 employees are twice as likely to be current users of Italian machinery than the study average (57% vs. 28%). Among the reasons for the difference: Larger companies are more likely to use products with the latest technology (39% vs. 20%) and products that are well established in the industry (38% vs. 27%), both of which Italian equipment manufacturers provide. Respondents from companies with more than 100 employees are also 178% more likely than smaller companies (less than 100 employees) to be familiar with Italian machinery.
Respondents within the manufacturing engineering department (both management and non-management) are more likely than the study average to indicate
that Italian machinery
has a good overall
reputation (56% vs. 34%);
offers good value for the
money (64% vs. 52%);
has competitive prices
(67% vs. 36%); and pro-
vides good service after
the sale (36% vs. 19%).
Time to Buy
North American
manufacturers are ready
to buy. In fact, nine out
of 10 respondents indi-
cated that their company
plans to purchase new
machinery in the next one to two years.
Production machinery (73%) is the most indicated new purchase during the timeframe, followed by tooling (49%), materials (44%), automation (34%), and software (16%). The No. 1 purchasing decision cited was the “equipment met my needs/specifications” (81%), followed closely by technical support after the sale (79.5%), ROI (73%), price (70%) and availability of spare parts (65%).
Most of the activity is due to occur in the next 12 months, accord- ing to the findings. The highest spending levels in the next year are projected to come primarily from four industries: automotive; medical equipment and supplies; transportation equipment; and energy.
For the following year (12-24-month timeframe), however, respon- dents indicated that spending on equipment and machinery at their companies will slow. And while three-fourths of the participants
expect to buy production machinery, materials are forecasted to account for a larger part of the purchasing budget.
Respondents from the automotive industry indicated planned purchases of more than $6 million USD on materials and $1.5 million on production machinery in the next 12 months, while respondents from the energy industry indicated planned spending of more than $3 million on automation. Transportation equipment spending in the next 12 months is expected to be about $10 million for materials, with an additional $1.5 million in production machinery and $1 million in automation.
Study Methodology
The sample selection for the 2022 Machines Italia Awareness Study was taken from the Italian Trade Agency database and the SME database. The survey was conducted online, and respondents were asked to self-select responses. Data was cleaned to ensure accuracy.
This is the second ITA awareness study conducted since the U.S.- Mexico-Canada Agreement (USMCA), which superseded the 26-year- old North American Free Trade Agreement (NAFTA), took effect on
Materials Production Machinery Automation Tooling Software Other
$0
12 Months
$1,106,167
$1,585,179
$769,071 $1,023,467
24 Months
$2,700,000
$3,520,294
$170,714 $251,250
$40,000 $49,167
$10,000 $15,000
$1,000,000 $2,000,000 $3,000,000 $4,000,000
Future planned purchases over the next 12 and 24 months as reported by survey respondents.
factory floor materials, equipment, and
July 1, 2020.
It also should be noted
that the 2020 Machines Italia Awareness Study was conducted during the height of the COVID- 19 pandemic, which may have affected the insights respondents provided on their sectors, trends, and preferences versus previous years. This is important as the 2022 Machines Italia Awareness
Study draws some comparisons to the 2020 study.
Throughout the report, results of statistical significance are pre-
sented to illustrate data that is significant at a 95% confidence level. This confidence level means there is reasonable support that the results are actually different and not due to error or variance in the data. Testing results illustrate data points that are different enough that they fall outside the margin of error. That is, if the study were to be conducted multiple times with the same population, these data points would still be statistically different 95% of the time.
Summary
North American manufacturers are planning to make major pur- chases of plant equipment, machinery and materials over the next two years. And Italian suppliers are poised to continue to deliver high-quality products to meet customer demands.
6 Volume XIV | www.machinesitalia.org