Industrial Machinery Market Expected to Reach Highest CAGR by 2027| COVID-19 Impact Analysis Top Players- : AB Electrolux, Alfa Laval, AMADA CO., LTD., GEA Group

The industrial machinery market was valued at US$ 1, 84,337.8 million in 2019 and is projected to reach US$ 2, 63,251.2 million by 2027; it is expected to grow at a CAGR of 5.38% during the forecast period from 2020 to 2027.

Growing manufacturing sector isanticipated to provide growth opportunities for industrial machinery providers

The manufacturing industry is still witnessing a massive investment in various automated and smart industrial solutions being adopted. Additionally, the adoption of data-driven solutions has gained considerable popularity among several leading manufacturers and business owners in mitigating unforeseen errors, faults, and damage through predictive techniques. Increasing demand for industrial machinery across various industrial applications is expected to provide substantial market growth opportunities across developed economies in the coming years.

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Top Key Players: AB Electrolux, Alfa Laval, AMADA CO., LTD., GEA Group, HAITIAN INTERNATIONAL, MITSUBISHI HEAVY INDUSTRIES, LTD, SCHULER GROUP, Sumitomo Heavy Industries, Ltd., Syntegon Technology GmbH (Bosch Packaging Technology), and THE ADELPHI GROUP

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Note – The Covid-19 (coronavirus) pandemic is impacting society and the overall economy across the world. The impact of this pandemic is growing day by day as well as affecting the supply chain. The COVID-19 crisis is creating uncertainty in the stock market, massive slowing of supply chain, falling business confidence, and increasing panic among the customer segments. The overall effect of the pandemic is impacting the production process of several industries. This report on ‘Military Biometrics Market’ provides the analysis on impact on Covid-19 on various business segments and country markets. The reports also showcase market trends and forecast to 2027, factoring the impact of Covid -19 Situation.

The use of distributed fabrication enables manufacturers to reduce lead times and drastically save on freight costs. Also, IoT-based applicationsas well as machine learning make it less challenging to coordinate operations across multiple factories. As new technologies make it increasingly viable to coordinate large-scale activities across countries and continents, manufacturers expect to see significant resources invested in areas such as distributed manufacturing. While these investments may cost manufacturers in the short term, their long-term gains make the cost easily worth it.

Market Segmentation:

By Machinery Type

• Packaging Machinery

1. Filling Machines
2. Palletizing Machines
3. Labelling Machines
4. Wrapping Machines

• Food Processing Equipment

1. Slicers and Dicers
2. Extruding Equipment
3. Depositors and Mixers
4. Storage and Refrigeration Equipment

• Plastics Processing Machinery

1. Injection Molding Machine
2. Blow Molding Machine
3. Extrusion Molding Machine

• Metal Forming Machine Tools

1. Pressure Machine
2. Bending Machine
3. Casting Machine Punching Machine

• Woodworking Machinery

1. Woodworking Machinery
2. Lathes Machine
3. Grinding Machine
4. Bandsaw Machine

The industrial machinery marketis segmented intomachinery type,and geography. Asia Pacific held the largest share of the industrial machinery market, followed by Europe and North America,in 2019. Based on machinery type, the industrial machinery market is segmented into packaging machinery, food processing equipment, plastics processing machinery, metal forming machine tools, and woodworking machinery. The food processing equipment segment led the industrial machinery market in 2019.

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