Process and Control Today

06/06/2023 igus UK Ltd

Survey results from a big PwC / Make UK survey shows that new product introduction is the biggest area for planned investment. This reflects robust igus’ enquiries, says Managing Director Matthew Aldridge, and igus is primed to support this new product bonanza.

Working in manufacturing, we are served up with a lot of statistics – and many of them do not make good reading. The current dispute on social media about the UK economy is whether Q1's growth of 0.1% is a recession-avoiding success, or an abject failure compared with other countries. However, hidden deep in the latest PwC and MAKE UK Executive Survey "Cost, Competitiveness and Confidence" is an amazing and positive fact.

In the section on Increasing Competitiveness, a chart titled "What impact has all this had on planned investment for 2023?" section, the results show that 72% of manufacturers plan to increase investment in the next two years in "New Product Development", and 57% planned to increased investment in the next 12 months. It is the number one category for investment, ahead of 11 others. This is fantastic news for engineering in the UK. While the survey is a few months old now, the forecast is matched by our igus regional sales engineers’ own reports of a huge increase in new design projects and enquiries.

Every year, igus as a group releases between 150 and 200 new products – a staggering number of new, market-ready products, and 2023 is be no exception. With this in mind, here are five ways in which igus can help UK companies bring their new product ideas to market, summarised as speed, service, customisation, digital tools and new technology.

The intention for manufacturers to increase investment in different categories of their business in the next 24-months sits at 40% of higher for eight of 12 categories. The conclusion of this section of the MAKE UK Executive Survey is that it is critical that manufacturers seize this opportunity for growth. igus is excited to be involved in this rebound, and with the stock, people, digital tools and engineering expertise, is perfectly positioned to support this.

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For more information, please contact:Erin Kemaligus UK LtdCaswell RoadNorthamptonNorthamptonshireNN4 7PWTel: +44 (0)1604 677240Email: [email protected]: https://www.igus.co.uk

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