WMF Report 2024 – New Perspectives for the Future of Manufacturing: Outlook 2030

The 2024 WMF Report outlines the key forces shaping global manufacturing by 2030. It highlights trends in technology, economics, geopolitics, and sustainability and offers a roadmap for navigating these changes.

FULL REPORT 

Key Drivers of Change:

1. Technological Advancements: Industry 4.0 technologies—AI, robotics, IIoT—are revolutionising production. While these innovations boost efficiency, manufacturers must address cybersecurity risks, workforce skill gaps, and high costs of adoption.
2. Economic Shifts & Supply Chains: Rising wages in traditional hubs like China and supply chain disruptions due to trade wars and geopolitical tensions push manufacturers to adopt automation and circular economy practices for resilience.
3. Geopolitical Realities: Trade conflicts, especially between the U.S., China, and the EU, increase production costs, but climate-focused collaborations can drive sustainability and innovation in manufacturing.
4. Social Dynamics: Consumers demand sustainable, personalised products, pushing manufacturers to adopt eco-design and prioritise corporate social responsibility, fair labor practices, and diversity.

Tipping Points in Manufacturing:

The report identifies “tipping points”—moments of significant change, both positive and negative, such as breakthroughs in green tech or climate-related disruptions. Proactive strategies are essential to navigate these shifts and maintain resilience.

Green Transformation:

Sustainable manufacturing is a central theme. By 2030, manufacturers will prioritize eco-friendly processes, renewable energy, and circular systems. Sustainability will be key to gaining competitive advantage and avoiding greenwashing.

Key Recommendations:

The report concludes with 10 recommendations, including fostering innovation, enhancing supply chain resilience, and embracing sustainable practices. These steps will help manufacturers thrive in a volatile global landscape.

Conclusion:

The 2024 World Manufacturing Report provides a strategic blueprint for the future. By adopting innovative and sustainable practices, manufacturers can secure a competitive, resilient, and sustainable future in the global industry.