All signs are pointing to a good year for the industrial automation equipment market, according to a IHS/IMS Research report.

The market for industrial automation equipment (IAE) is pegged to grow 6.2% this year to about $170 billion, helped in part by the recovery of global manufacturing in the first quarter, according to “The World Market for Industrial Automation Equipment ” report from IHS/IMS Research .

The numbers point toward an increase in the demand for industrial products, which also shows signs of economic health in other areas of the US.

Growth in the U.S. will be a benefit rather than requirement in 2013 as conditions all around have now improved. “For one, leading indicators — including machinery orders and manufacturing activity — point to increasing demand for industrial products during the next six months,” Howell reports. “Moreover, progress has been observed in the markets of China, Europe and the United States in the first half this year, fueling confidence that the IAE space is headed toward renewed vigor.”

Signs of economic health are likewise springing up in the U.S., where greater growth stemming from a variety of factors — ranging from rising natural gas exploration and production, to strengthening housing markets, to rising exports — will help propel demand for industrial automation equipment and boost the IAE global market, concludes Howell.

All in all, with automation companies holding a record amount of cash due to a slow year in 2012, things are looking good for the automation industry to continue with modest growth next year and beyond.

Read more at Control Design.