The process measurement and automation industry grew approximately 5.3 percent in 2013, according to data reported by members of the Measurement, Control & Automation Association.
MCAA collects data from its member companies for a variety of reports, including a monthly report on domestic and direct export bookings for the US, Canada and Rest of World and a quarterly report with more detailed information by product category and by user industry. Bookings are also collected on a monthly basis from the distribution companies that are MCAA channel partner members.
Looking at data from companies that participated in the bookings reports consistently over the past 10 years, MCAA notes that the industry has rebounded from its low in 2009 where bookings were down to pre-2004 levels and off 22 percent from the prior year. Over the four years since, bookings are up a total of 84 percent. However, at just under $3.5 Billion, 2013 represents the lowest growth rate of the four previous periods.
To make its comparison, MCAA used only data from companies who reported consistently over the 10-year period. Total actual bookings reported by all members participating in the bookings reports as of December 2013 was $5.4 Billion. In addition to data that are published from the aggregation of member-contributed data, Global Automation Research prepares an annual forecast for MCAA looking out 5 years.
The above graph shows the historical size of the industry as reported by Global Automation Research (blue) and the forecast going to 2017 (green). In red is the actual reporting from 2004 through 2013 of a group of companies that have consistently reported to MCAA in its Monthly Bookings Report. The actual dollar volume reporting for any one year would be higher than the totals shown here, but the reporting base does change every year. In the Monthly Bookings Report all data are completely historical, but that would not be representative going back this many years. MCAA reported only those companies which have reported since 2004 to show the MCAA trend as it stacks up against the actual results for the entire industry.
As mentioned, Global Automation Research provides an annual forecast for MCAA members that looks at all of the U.S. and Canada by both product categories and customer industries, provides some regional market potential information for both countries, as well as a look at the key international trends that will affect the U.S. marketplace. The 2014 report will be available in May (free to all MCAA members; $2,500 to non-member companies).
ITR Economics also provides MCAA members with forecast information. In February and July, ITR's Business Cycles Report looks at the key industries to which MCAA sells and predicts the 6-18 month outlook. MCAA member-contributed data are tracked against U.S. industrial production statistics as a confirmation of the value of the monthly and quarterly data gathered by the association. Members also receive an Economic Forecast from ITR Senior Analyst D. Jeffrey Dietrich at its Industry Forum held in May and in a webinar presented in November.
MCAA will be releasing more detailed information over the next several weeks looking at the breakdown of bookings information from its Monthly Bookings Report and from its Quarterly Product Report.