Technological advancement coupled with changing regulatory norms is driving the industrial machinery market growth during 2020–2027.
According to our latest market report on “Industrial Machinery Market Forecast to 2027 – Global Analysis – by Material Type,” the industrial machinery market size is projected to reach US$ 263,251.2 million in 2027 from US$ 184,337.8 million in 2019 it is expected to witness healthy market growth of 5.38% CAGR during 2020–2027.
The demand for industrial machinery is predicted to rise as a result of technical advancements that have boosted the efficiency of existing machines while also increasing safety. Furthermore, rising automation has resulted in a demand for industrial machines. Furthermore, rising urban population and desire for better infrastructure have resulted in an expansion in the construction industry, which is projected to drive the industrial machinery market forward. The growth of the industrial machinery market is likely to be aided by several favorable regulatory regulations, including infrastructure tax incentives. Over the last few years, there has been a steady increase in earth-moving vehicles, which is likely to contribute to industrial machinery market growth.
Various new technologies are gaining momentum in the industrial machinery industry. For instance, to create high-quality timber at mills, 3D log scanning is being combined with sawmill manufacturing equipment. A 3D log scanner combines visual sensors with geometry data on the log to determine the real shape of the log. This improves the quality of the resolution, scan rates, and laser lighting utilized to measure dark logs, resulting in high-grade timber recovery. This technique is commonly utilized in super mills, which are a collection of satellite mills with two to three log lines each. In addition, sensors employed in 3D log scanning assist capture knots faster, resulting in a higher output. Raptor Integration Inc., LMI Technologies, and JoeScan are among the major businesses that offer sawmill equipment with 3D log scanning technology.
Due to economies such as India, China, and Others, Asia Pacific is predicted to account for the majority of industrial machinery market share. These economies are rising rapidly as a result of increased urbanization, as well as the availability of inexpensive labor and raw materials, resulting in an increase in factory setting in the region. Furthermore, as a result of greater automation to meet the demands of an ever-increasing population, the demand for industrial machinery has skyrocketed over the industrial machinery market forecast period. Europe is predicted to grow at a faster pace than Asia Pacific and will develop modestly. Similarly, North America is likely to grow at a rapid pace. These regions are developed and have well-established infrastructure, as well as a variety of safety standards, such as quiet operation, low emissions, and so on.
The industrial machinery market is bifurcated into machinery type and geography. 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. Geographically, the industrial machinery market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America.
According to the industrial machinery market analysis, 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); The Adelphi Group of Companies are a few key players operating in the industrial machinery market. In addition, several other important industrial machinery market players are studied and analyzed in the industrial machinery market report to get a holistic view of the global & regional market share and its ecosystem.
Industrial Machinery Market Share – by Region
Industrial Machinery Market Size & Industry Growth by 2027
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Industrial Machinery Market Forecast to 2027 – COVID-19 Impact and Global Analysis – by Machinery Type (Packaging Machinery, Food Processing Equipment, Plastics Processing Machinery, Metal Forming Machine Tools, and Woodworking Machinery)
Industrial Machinery Market Size & Industry Growth by 2027
Download Free SampleIndustrial Machinery Market Forecast to 2027 – COVID-19 Impact and Global Analysis – by Machinery Type (Packaging Machinery, Food Processing Equipment, Plastics Processing Machinery, Metal Forming Machine Tools, and Woodworking Machinery)
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