The industrial sector is poised to benefit significantly from the ongoing manufacturing resurgence, driven by factors like reshoring, increased investments in automation, and technological advancements. Given this backdrop, it could be wise to add fundamentally strong industrial stocks, such as The Gorman-Rupp Company (GRC), Franklin Electric Co., Inc. (FELE), and TE Connectivity plc (TEL).
The rising emphasis on adopting industry 4.0 solutions and services that help in using modern technology in everyday manufacturing is estimated to favor the growth of the global smart manufacturing market. The smart manufacturing market is estimated to grow at a CAGR of 21.3% by 2037.
