Press release
Industrial Machinery Market Report 2024: Key Growth Factors and Forecast
Industrial Machinery Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.
The Market Size Is Expected To Reach $777.35 billion In 2028 At A CAGR Of 7.2% :
The industrial machinery market size has grown strongly in recent years. It will grow from $546.76 billion in 2023 to $589.34 billion in 2024 at a compound annual growth rate (CAGR) of 7.8%. The growth in the historic period can be attributed to growth in manufacturing industry and economic growth.
The industrial machinery market size is expected to see strong growth in the next few years. It will grow to $777.35 billion in 2028 at a compound annual growth rate (CAGR) of 7.2%. The growth in the forecast period can be attributed to technological advances and increase in consumption of processed food. Major trends in the forecast period include investing in 3d log scanning for high grade lumber, investing in robotics and automation to increase manufacturing efficiency, investing in radiant energy vacuum technology and in continuous baking ovens to improve production efficiency.
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Industrial Machinery Market Major Segments
The industrial machinery market covered in this report is segmented -
1) By Type: Woodworking And Paper Machinery, Printing Machinery And Equipment, Semiconductor Machinery, Food Product Machinery, Other Industrial Machinery
2) By Operation: Autonomous, Semi-Autonomous, Manual
3) By Capacity: Small, Medium, Large
Subsegments Covered: Woodworking Machinery, Paper Industry Machinery, Chemical Processing Machinery And Equipment, Glass Making Machinery, Petroleum Refining Machinery, Plastics Working Machinery, Rubber Working Machinery, Tannery Machinery, Textile Making Machinery, All Other Industrial Machinery, Typesetting Machinery, Offset Printing Machinery, Flexographic Printing Machinery, Gravure Printing Machinery, Printing Trades Binding Machinery And Equipment, Other Printing Machinery And Equipment, Wafer Processing Equipment, Semiconductor Assembly And Packaging Equipment, Other Semiconductor Making Machinery, Dairy Product Plant Machinery And Equipment, Bakery Machinery And Equipment, Meat And Poultry Processing And Preparation Machinery, Other Commercial Food Products Machinery
Key Driver - Manufacturing Growth As A Catalyst For The Industrial Machinery Market
The increasing manufacturing output across industries is expected to propel the growth of the industrial machinery market going forward. Manufacturing output refers to the quantity of products or goods produced by manufacturing processes within various industries. Industrial machinery is essential for automating and streamlining a variety of manufacturing processes, including cutting, forming, assembling, and packaging. For instance, in July 2023, according to Eurostat, a UK-based government statistical agency, industrial output in the euro area witnessed a 0.2% increase. Moreover, a 0.1% increase was reported in the European Union during the period between May and April 2023. Therefore, increasing manufacturing output across industries will drive the future industrial machinery market.
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Prominent Trend - Embracing Modular And Miniature Machines For Enhanced Competitiveness
Major companies operating in the industrial machinery market are focused on developing modular and miniature machines, such as Coronus DX, to gain a competitive advantage. Coronus DX supports the production of smaller, more powerful microchips and electronic components. For instance, in June 2023, Lam Research Corporation, a US-based semiconductor company, introduced Coronus DX, a one-step solution for applying a protective film to both sides of wafer edges during advanced semiconductor manufacturing. This technology helps prevent damage and residue buildup, potentially enabling new device structures.
Industrial Machinery Market Players
Major companies operating in the industrial machinery market report are ASML Holdings, Tokyo Electron, LAM Research, Tetra Pak, Applied Materials, KLA-Tencor, Marel HF, ASM Pacific, Alfa Laval, Bühler AG, Grand Tech Group Ltd., Wuxi Meida Electro Technical Co. Ltd., Changqinglin Electronic Company Ltd., Suyuanyineng Electricity Machinery Equipment (Wuxi) Company Ltd., Globeeon Engineering, Techno Mech Industries, Krishitool, Shree Precision Engineers, Machine Sucher, Mekfy Icommerce Pvt, Ashoka Machine Tools Corporation, Aida Engineering Ltd., Asai Corporation., Amada Co. Ltd., Komatsu Industries Corporation., Sanki Seiko Co. Ltd., Japan Steel Works Ltd., John Deere., Liebherr., ZF Friedrichshafen., Bosch., Material handling worldwide: industrial trucks and lift trucks., Continental., Industrial machinery and automation in the United Kingdom, Volvo Group., Instawerk GmbH - CNC-Frästeile Online fertigen lassen, ATH manufactures, CSAT GmbH, StankoMashStroy, SIGNAL-PACK, VKP, Strommasina Corp., ArcelorMittal Dofasco., BASF Canada Inc., Cisco Systems Canada Co., Danone Canada., Ford Motor Company of Canada Ltd., K+S Potash Canada GP. FCA US LLC, Naval Surface Warfare Center Crane Div. John Deere Waterloo Works, General Motors Global Propulsion Systems, Rolls-Royce Corp., Lancer Corp., GE Power Electronics Inc., Honda Of America Mfg. Inc., Anna Engine Plt., Modern Saudi food factory, The Machinery Group LLC, Refuse Equipment Manufacturing Company Limited, Riyadh PlasticFfactory Company, Manama Packing Industry, Design Lab Blacksmith and Welding Works, AL Khaleej Industrial Steel Factory, AL Absar Steel Manufacturing LLC, ELB Equipment, Hitachi, Case Construction
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Largest And Fastest Growing Region In The Market
The Asia-Pacific was the largest region in the industrial machinery market in 2023. Western Europe was the second largest region in the industrial machinery market. The regions covered in the industrial machinery market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Industrial Machinery Market Report Structure
3. Industrial Machinery Market Trends And Strategies
4. Industrial Machinery Market - Macro Economic Scenario
5. Industrial Machinery Market Size And Growth
…..
27. Industrial Machinery Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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