Machinery Market 2020-2030: Top Key Players, Business Opportunities, Challenges, Trends And Covid 19 Impact Analysis and Forecast

The Business Research Company offers "Machinery Global Market Report 2020-30: Covid 19 Impact And Recovery" in its research report store. It is the most comprehensive report available on this market and will help gain a truly global perspective as it covers 60 geographies. The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by region and by country. It also compares the market’s historic and forecast growth, and highlights important trends and strategies that players in the market can adopt.

The global machinery market is expected to decline from $3240.1 billion in 2019 to $3074 billion in 2020 at a compound annual growth rate (CAGR) of -5.2%. The decline is mainly due to economic slowdown across countries owing to the COVID-19 outbreak and the measures to contain it. The market is then expected to recover and grow at a CAGR of 8% from 2021 and reach $3761.7 billion in 2023.

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The machinery market consists of sales of industrial and commercial machinery by entities (organizations, sole traders or partnerships) that produce industrial and commercial machinery. These establishments assemble parts into components, sub-assemblies and complete machines.

Globally, machinery manufacturers are re-allocating their production plants closer to consumer markets to reduce costs and offer high quality products to customers. Rapid wage increases, rising transportation costs and the difficulty of effective quality control at offshore locations are leading them to re-assess the attractiveness of off-shoring production locations in the developing countries. These factors are encouraging many companies to relocate production closer to their markets. For instance General Electric (GE) shifted a major part of its production from China back to the USA in 2015.

Machinery Market Segmentation: -
By Type
Agriculture, Construction, And Mining Machinery
Industrial Machinery
Commercial And Service Industry Machinery
Ventilation, Heating, Air-Conditioning, And Commercial Refrigeration Equipment
Metalworking Machinery
Engine, Turbine, And Power Transmission Equipment
Other General Purpose Machinery

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Few Points From Table Of Content
1. Executive Summary
2. Report Structure
3. Machinery Market Characteristics
4. Machinery Market Product Analysis
5. Machinery Market Supply Chain
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20. Machinery Market Competitive Landscape
21. Key Mergers And Acquisitions In The Machinery Market
22. Recommendations
23. Appendix
24. Copyright And Disclaimer

The report covers the trends and market dynamics of the Machinery Market in major countries - Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA. The report also includes consumer surveys and various future opportunities for the market.

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Some of the key players involved in the Machinery Market are General Electric Company, Caterpillar Inc., Canon Inc., Deere & Company, Mitsubishi Heavy Industries

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The Business Research Company has published over 1000 industry reports, covering over 2500 market segments and 60 geographies. The reports draw on 150,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders. The reports are updated with a detailed analysis of the impact of COVID-19 on various markets after WHO declared COVID-19 as a pandemic.

This release was published on openPR.