Industrial Manufacturing & Engineering
The industrial manufacturing and engineering sector forms the crux of human life producing consumer goods and machinery used in every hierarchy of the manufacturing process. The industrial revolution which started in 1760 and truly materialized by 1840 provided the transition from “handmade” production to “mechanized” production.
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Around 15% of the world’s GDP is solely associated with the industrial manufacturing and engineering sector (as of 2020).
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China leads the pack with manufacturing sector contributing to 30% of the country’s economic output followed by USA at 11%, Japan at 7%, Germany at 6% and South Korea at 3.3%.
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The boom of this industry especially in countries like China and India is due to the availability of cheaper labour costs as compared to USA, Germany and UK.
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Production of consumer goods has been the lifeline for human survival and this sector has proved to be a source of income for billions of individuals over millennia.
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Each and every sector is directly or indirectly linked with the industrial manufacturing and engineering sector for completion of their process lifecycle.
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