In this post, we take a look at some capex project procurement statistics from our MyProtel project database as we move toward 2023. Read the chart and analysis below to get our take on potential capex project procurement levels in the main processing sectors for the next year. This handy chart will allow you to get a sense of how much procurement activity to expect by industrial processing sector in the next 12 month period.
We are tracking a good number of projects that are due to enter procurement phase in 2023 across all of our reported regions. Post COVID-19, there is a strong mix to planned capex in pharmaceutical and biotech. Areas such as cell and gene therapy, vaccine production and research and development are booming across the UK, Ireland, France, Belgium and the Netherlands.
The food and drink (beverage) sectors are subject to rapid innovation and many exciting emerging trends which are reflecting in the mix of capex we are tracking. Projects entering procurement are diverse, in growth areas such as protein alternatives, plant-based products and require new technologies around sustainability & efficiency – particularly in packaging and energy usage reduction.
Large schemes are expected to enter procurement phase in 2023. This includes growth areas such as hydrogen. These capex projects are generally much larger and slower moving than those in our other sectors, but still require precise timing of approach to maximise the chances of winning business in these schemes.
At Protel our research team are extremely closely connected to those involved in determining the requirements for capex projects. In general, projects are either moving slowly, as capex programmes are reviewed, or projects are fast tracked to capitalise on emerging trends or response to global factors. As such, it is vital to get connected to decision makers and build strong relationships to capitalise on sanctioned (approved) project opportunities.
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