Industrial Machinery And Industrial Equipment Market Report: Production Capacity and Consumption Analysis by Regions
The global industrial machinery market is expected to decline from $580 billion in 2019 to $547.2 billion in 2020 at a compound annual growth rate (CAGR) of -5.7%. 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 $668.4 billion in 2023.
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The industrial machinery market consists of sales of industrial machinery such as food and beverage manufacturing machinery, semiconductor manufacturing machinery, sawmill and woodworking machinery (except handheld), machinery for making paper and paper products, printing and binding machinery and equipment, textile making machinery, and machinery for making plastics and rubber products.by entities (organizations, sole traders or partnerships) that produce industrial machinery.
Industrial machinery manufacturers are using industrial internet of things (IIoT) for faster production and delivery of industrial machinery to customers. IIoT is a technology in which sensors, computers, networks interact with their environment to generate data and improve industrial processes. IIoT streamlines the flow of information and enables real-time decisions. This leads to enhanced production efficiency, minimal machine breakdowns and lower manufacturing costs. For instance, Stanley Black & Decker implemented IIoT in a plant in Mexico to monitor the status of production lines in real time via mobile devices, this technology improved production equipment efficiency by 24%, labor utilization by 10%, and throughput by 10%.
Industrial Machinery Market Segmentation:
1. Woodworking And Paper Machinery
2.Other Industrial Machinery
3. Printing Machinery And Equipment
5. Food Product Machinery
3. Large Subsegments Covered:
5.Paper Industry Machinery
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Few Points From Table Of Content
1. Executive Summary
2. Report Structure
3. Industrial Machinery Market Characteristics
4. Industrial Machinery Market Product Analysis
5. Industrial Market Supply Chain
21. Key Mergers And Acquisitions In The Industrial Machinery Market
22. Market Background: Machinery Market
25. Copyright And Disclaimer
The report covers the trends and market dynamics of the Industrial 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 the Industrial machinery market are Tetra Laval International SA, Applied Materials Inc, Lam Research Corp, Tokyo Electron Ltd, ASML Holding NV
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