Machinery Industry Overview

The wastewater treatment equipment market consists of sales of wastewater treatment equipment and related services. Wastewater treatment equipment is used to treat solid, liquid, gaseous or radioactive substances, remediation and processing of effluent wastewater and waste matter from households, businesses and other organizations. Wastewater carries a mixture of suspended or dissolved solid wastes or effluents from residential, agricultural or industrial areas. The wastewater treatment equipment includes water filtration equipment, membrane equipment, thermal distillation equipment and evaporators, and disinfection equipment. The wastewater treatment equipment market covered in this report is segmented by equipment into filtration equipment, membrane equipment, thermal distillation equipment and evaporators, disinfection equipment. The wastewater treatment equipment market is also segmented by application into municipal, industrial; by process into primary, secondary, tertiary; by texture into smooth, textured. The global wastewater treatment equipment market is expected to grow from $28.24 billion in 2020 to $29.42 billion in 2021 at a compound annual growth rate (CAGR) of 4.2%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The wastewater treatment equipment market is expected to reach $34.47 billion in 2025 at a CAGR of 4%. The wastewater treatment equipment market is being driven by a rapidly increasing disposal of the wastewater from the industrial as well as residential sector. High quantity of wastewater being disposed is increasing the necessity to treat the water using wastewater treatment equipment. According to a research study published by the European Environment Agency (EEA), the percentage of the residential population disposing wastewater in northern European countries is always above 80 % out of which more than 70 % received tertiary wastewater treatment. Furthermore, in central European countries, the proportion of the population connected to urban waste water treatment in southern, south-eastern and eastern Europe is 97% out of which 75% are receiving tertiary wastewater treatment. According to the international water association (IWA)'s wastewater report, Philippines accounted for about a million cubic meters of wastewater disposed every year by industrial sectors in the Manila Bay and Laguna Lake. These factors are driving the wastewater treatment equipment market. The wastewater treatment equipment market is being restrained by high installation and operational costs of the equipment, leading to indirect investment. The wastewater treatment apparatus is equipped with sophisticated programmable logic controller (PLC) system and instrumentation system that increase the overall equipment costs and energy consumption costs. Further, the high energy consumption of wastewater treatment equipment leads to a high cost of operation and maintenance due to large amount of sludge generated. For instance, most wastewater generated in Sri Lanka is untreated, with about 65.3 million liters/day of domestic wastewater left untreated in the capital city of Colombo. According to a report by Black & Veatch on Wastewater industry, managing capital costs and operational costs are the major challenges of the wastewater industry. Also, according to a report by the UN (United Nations) on water quality, 80% of sewage in developing countries is discharged untreated directly into water bodies and industries across the world dump an estimated 300-400 MT of polluted waste in water bodies every year in order to reduce treatment costs. For instance, in Finland an initial investment of 7000 to 10000 euros is required to install a modern on-site wastewater treatment plant. Further, the operating costs for the same are also high as they comprise of the chemical, electricity and service agreement cost. The increasing use of Internet of Things (IoT) sensors is the latest trend in the wastewater treatment equipment market. The Internet of Things (IoT) is a network of physical devices that communicate over internet. The environmental sensors measure pollution causing particles in air and water, thereby monitoring air or water quality. It also senses radiations and hazardous chemicals in the environment. A majority of the organizations that function in the water industry depend on the Supervisory Control and Data Acquisition (SCADA) systems to monitor the water distribution systems. The use of IoT in water systems uses smart sensors that detect information about the water quality, temperature changes, pressure changes and potentially any chemical leaks. For instance, companies in the water treatment industry such as Biz4solutions company, are providing innovative solutions for effective waste water management and water testing analytics through IoT systematic water management in order to manage water recycling, reduce the amount of water leakages, and efficiently manage wastewater. The wastewater treatment equipment market in the USA is regulated by the United States Environmental Protection Agency (EPA). The EPA has established standards for secondary treatment of wastewater for publicly owned treatment works (POTWs). These standards have certain technology-based requirements for municipal wastewater treatment. The EPA specified a list of products approved state wise for onsite treatment of wastewater. Governments globally are continuously investing in environmental regulations and policies to be implemented by businesses, manufacturing companies, and even households. The US government passed the Frank R. Lautenberg Chemical Safety Act specifying guidelines for companies in the chemicals industry for proper management, storage and disposal of mercury to preserve states environmental authorities related to air, water, waste disposal and treatment. Further, the EPA also specifies national standards for decentralized wastewater treatment. In addition, the regulatory bodies such as National Sanitation Foundation (NSF) and the American National Standards Institute (ANSI) formulate and develop onsite wastewater treatment standards. Major players in the wastewater treatment equipment market are Suez, 3M, GE Water, Culligan International Company, and DOW Water & Process Solutions. The regions covered in the wastewater treatment equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the wastewater treatment equipment market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The global wastewater treatment equipment market is segmented - 1) By Equipment: Filtration Equipment, Membrane Equipment, Thermal Distillation Equipment And Evaporators, Disinfection Equipment 2) By Application: Municipal, Industrial 3) By Process: Primary, Secondary, Tertiary 4) By Texture: Smooth, Textured

The industrial robots market consists of sales of robotic products and related services for the performance of a specific task. A robot is a programmable, mechanical device generally used in place of a person to perform dangerous or repetitive tasks with a high degree of accuracy. A robot has its control system and is not controlled by a machine. The industrial robots market covered in this report is segmented by product type into articulated robots, linear robots, cylindrical robots, parallel robots, scara robots, others. The industrial robots market is also segmented by end-user industry into automotive, electrical and electronics, healthcare & pharmaceuticals, food & beverages, rubber & plastics, metals & machinery, others and by application into pick and plane, wielding and soldering, material handling, assembling, cutting and processing, others. The global industrial robots market is expected grow from $47.52 billion in 2020 to $53 billion in 2021 at a compound annual growth rate (CAGR) of 11.5%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The industrial robots market is expected to reach $75.84 billion in 2025 at a CAGR of 9%. Shortage of skilled workers is contributing to the growth of the industrial robots market. As there is an increase in production requirements and due to high demand manufacturers are not able to fulfil the supply due to a shortage of skilled labour. Shortage of skilled labour exists due to two main reasons, presence of unskilled worker and skilled workers but not available for work. According to the Department of Labor, as of January 2020, the US economy had 7 million job openings, but only 5.6 million people were looking for work. Producers to maintain high supply are thus opting towards the installation of robots. Industrial robots increase the overall productivity, efficiency and effectiveness of the company. Therefore, shortage of labour gives rise to other opportunities for the addition of robots in the workforce. High purchase and installation cost of industrial robots are expected to limit the growth of industrial robots market. A robot installation is very costly as it is not only for the purchase of the robot but also integration, programming and maintenance. This is a major challenge for Small and Medium-size Enterprises (SMEs) as they produce in low volumes and returns on investment will be a challenge. Moreover, fast-changing consumer preference will also result in customization of a machine which will be again hard for SME to do so. According to RobotWorx, an industrial robot manufacturer cost of an average of new industrial robot ranges from $50,000 to $80,000 whereas it can go up to $100,000 to $150,000 as application specifics are added. Therefore, high purchase and installation of industrial robots are expected to limit the growth of industrial robots market. Automated mobile robots (AMR) is one of the recent trends of industrial robots market. An AMR is a robot which is designed to move materials across a plant floor or through a warehouse without the aid and direction of a human worker. Floor cleaners, forklifts, pallet movers are examples of types of AMRs. For instance, Fetch Robotics, a California-based firm handles heavy loads in its warehouse by using AMR. Fetch Robotics cloud computing program enables an operator to scale and control all operation with the click of a button. It eliminates employee risk for injury and increases the efficiency of their overall operations. In June 2018, ABB, headquartered in Zurich, Switzerland, operating mainly in robotics acquired GE Industrial Solutions (GEIS) for a deal amount of $2.6 billion. The deal comprises an integration of GEIS into ABB’s Electrification Products (EP) division to make a new business unit Electrification Products Industrial Solutions (EPIS). The deal will expand ABB’s products to the North America market. GEIS is headquartered in Georgia. Major players in the industrial robots market are ABB, Yaskawa, Kuka, Fanuc, Mitsubishi Electric, Kawasaki Heavy Industries, Denso, Nachi Fujikoshin, Epson, and Dürr. The regions covered in the industrial robots market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the industrial robots market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The global industrial robots market is segmented - 1) By Product Type: Articulated Robots, Linear Robots, Cylindrical Robots, Parallel Robots, Scara Robots, Others 2) By End-User Industry: Automative, Electrical And Electronics, Healthcare & Pharmaceuticals, Food & Beverages, Rubber & Plastics, Metals & Machinery, Others 3) By Application: Pick And Plane, Wielding And Soldering, Material Handling, Assembling, Cutting And Processing, Others

The humidifying equipment market consists of sales of humidifying equipment by entities (organizations, sole traders, and partnerships) that produce humidifying equipment which are used to increase the relative humidity of a room to ensure that the dry space has enough moisture for the comfort of the occupants. Only goods and services traded between entities or sold to end consumers are included. The humidifying equipment market covered in the report is segmented by type into warm-mist humidifier, cool-mist humidifier, ultrasonic humidifier, evaporative humidifier; by distribution channel into multi-brand stores, exclusive stores, online, other distribution channels; by application into commercial, industrial, residential. The global humidifying equipment market is expected to decline from $4.83 billion in 2020 to $4.81 billion in 2021 at a compound annual growth rate (CAGR) of -0.4%. The market declined due to stringent regulations imposed by various governments on the movement of goods and people to contain the virus, supply chain disruptions, and closure or halt in the manufacturing activities to stop the spread of coronavirus. The humidifying equipment market is expected to reach $5.42 billion in 2025 at a CAGR of 3%. An increase in the prevalence of diseases such as asthma, sinusitis, and other allergies attributing to dry air have created awareness among customers to maintain specific humidity in the air by using humidifying equipment. According to the Global Asthma Report 2018, asthma kills about 1000 people every day and attacks as many as 339 million people. Humidifying equipment releases steam or water vapor into the air to increase humidity and help individuals avoid issues faced with dry air. Hence, the increasing prevalence of diseases such as asthma, sinusitis, and other allergies with dry air is projected to generate higher demand for humidifying equipment. The high cost for installation and maintenance of humidifying equipment is a major factor restraining the growth of the global humidifying equipment market. Central humidifier work by increasing the relative humidity consistently and comes in several different sizes, types, and installation style that impacts the overall cost. For instance, the average cost of installing a central humidifier is between $600 and $1,000. The minimum cost for installing a basic humidifier is around $487, while the maximum cost around $1,532 for a steam humidifier. Therefore, the high cost for installation and maintenance of humidifying equipment is predicted to restrains the market growth. Major players operating in the market are focusing on developing new innovative products to attract a large customer base and maintain their position in the competitive business environment. The humidifying equipment manufacturing companies are incorporating advanced technologies to introduce innovative portable smart products. For instance, in July 2019, Xiaomi launched a new portable MIJIA Smart Sterilization Humidifier with UV-C water sterilization and smart humidifiers for offices and homes. It has a smart constant humidity function that monitors indoor humidity in real-time. In August 2018, Condair Group AG, a Switzerland-based manufacturer of commercial and industrial humidification and evaporative cooling products and systems acquired Aireven Pty Ltd in Australia for an undisclosed amount. The acquisition of Aireven Pty Ltd in Australia maintains the strategic integration of Condair Group AG into the Asia Pacific and is also aimed at strengthening the company’s position in the global humidification and evaporative cooling business. Aireven Pty Ltd is an Australia-based company engaged in manufacturing and selling a complete range of humidifier and evaporative cooling technologies for commercial and industrial applications. Major players in the humidifying equipment market are Armstrong International, Boneco, Carel Industries, Crane, Condair Group, Honeywell International, Dristeem, Koninklijke Philips N.V, Dyson ltd, Winix Inc. The regions covered in the humidifying equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the humidifying equipment market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The global humidifying equipment market is segmented - 1) By Type: Warm-Mist Humidifier, Cool-Mist Humidifier, Ultrasonic Humidifier, Evaporative Humidifier 2) By Distribution Channel: Multi-Brand Stores, Exclusive Stores, Online, Other Distribution Channels 3) By Application: Commercial, Industrial, Residential

The cotton ginning machinery market consists of sales of cotton ginning machinery by entities (organizations, sole traders, or partnerships) that are engaged in manufacturing cotton ginning machinery through different ginning technologies, such as knife roller gin, McCarthy roller gin, and saw gin. Only goods and services traded between entities or sold to end consumers are included. The global cotton ginning machinery market is expected to grow from $0.03 billion in 2020 to $0.04 billion in 2021 at a compound annual growth rate (CAGR) of 8%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The cotton ginning machinery market is expected to reach $0.05 billion in 2025 at a CAGR of 6.2%. The cotton ginning machinery market covered in the cotton ginning machinery market report is segmented by type into roller cotton gin, saw cotton gin; by application into saw gin, double roller gin, rotary knife gin; by feeding into automatic feeding, manual feeding. Growing demand for cotton and related products is expected to drive the cotton ginning market. Cotton is the oldest and most widely used fabric for making apparel as it is the most comfortable fabric to use, especially in tropical regions where the climate is humid. It is also used to make other industrial fabrics. In July 2020, Cotton Corporation of India, an Indian state-owned company, has sold about 700,000 bales of cotton the highest single-day sale in five years. Cotton is sold only after ginning which is separate fiber from the seed done using the cotton ginning machine. Thus, the rise in demand for cotton aids in the growth of the cotton ginning market. Uncertain economic conditions are anticipated to affect the cotton ginning market. Changing economic conditions due to the trade wars and economic slowdowns affect the price of cotton. When the price of cotton lowers, the production of the cotton also decreases. For instance, according to August 2020, the cotton and wool outlook by the U.S. Department of Agriculture (USDA), the estimations for global cotton production in 2020-21 is predicted at 117.5 million bales, about 4.5% below 2019-20. Due to the decrease in the price of cotton, farmers may not opt to produce the crop due to the fear of losses as the area of production drops, output declines, which also reduces the usage of cotton ginning machine for separating and thereby acts as a hindrance to the market. The use of DNA traceability systems in cotton gins is a major trend shaping the market. For assuring the origin of the cotton fiber, the DNA traceability system uses DNA tagging which will allow the retailers and customers to verify the presence of cotton in the finished products. In 2018, Applied DNA Sciences’ SignatureT cotton traceability system was installed by Louis Dreyfus Company (LDC) at its Moree gin in Australia to tag, test, and track pure HomeGrown Australian cotton. The brand owners and retailers can verify the presence of Australian cotton in their finished garments and products. In 2019, to ensure product authenticity and provenance, Egypt has employed Applied DNA’s molecular tagging technology in its two varieties of cotton. Applied DNA Sciences (ADNAS) is set to supply its SigNature T tagging technology for the 2019-20 cotton ginning season which begins in October. Under this, the Company’s SigNature T technology, paired with its genotyping and digital systems, will be utilized to tag, test, and track the Pima variety of cotton – sold by the brand PimaCott – over the coming months in San Joaquin Valley, California. The use of DNA traceability will allow consumers to make more confident purchase decisions and promote the use of cotton. Major players in the cotton ginning machinery market are Bajaj Group, Lummus Corporation, Handan Goldenlion Cotton Machinery, Jadhao Gears PVT LTD, Shandong Swan Cotton Industrial Machinery Stock Co. Ltd, ShanDong XinTianShan Cotton Machinery, Bhagwati Engineering Works, Balkan Textile And Cotton Gin Machinery Co. Inc, Nipha Group, Karunanand Hydropneumatic Controls Pvt Ltd. The regions covered in the cotton ginning machinery market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the cotton ginning machinery market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The global cotton ginning machinery market is segmented - 1) By Type: Roller Cotton Gin, Saw Cotton Gin 2) By Application: Saw Gin, Double Roller Gin, Rotary Knife Gin 3) By Feeding: Automatic Feeding, Manual Feeding

The 3D printer manufacturing market consists of sales of 3D printers that are used in automotive, healthcare, industrial, consumer electronics, aerospace and defense industries. 3D printing is the method of creating three-dimensional objects by transferring consecutive material layers through a 3D printer. The 3D printer manufacturing market covered in this report is segmented by printer type into desktop 3D printer, industrial 3D printer. It is also segmented by technology into stereo lithograph (SLA), fused deposition modelling (FDM), selective laser sintering (SLS), direct metal laser sintering (DMLS), polyjet/multijet printing (MJP), inkjet printing, electron beam melting (EBM), laser metal deposition (LMD), direct light projection (DLP), others and by end-use industry into automotive, aerospace & defense, healthcare, food, construction & architecture, others. The global 3D printer market is expected grow from $8.62 billion in 2020 to $11.1 billion in 2021 at a compound annual growth rate (CAGR) of 28.8%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The 3D printer manufacturing market is expected to reach $25.26 billion in 2025 at a CAGR of 23%. The growth in the use of 3D printed products in the automotive industry is a key factor driving the growth of the 3D printer manufacturing market. The manufacture of lightweight vehicle components is possible with the aid of 3D printing that reduces vehicle weight, boosts car performance, and increases fuel economy, and greater productivity can be achieved in injection molding equipment manufacturing using 3D printing technology. For instance, in 2019, General Motors collaborated with Autodesk to produce 3D printed lower cost and lighter vehicle parts. Therefore, the growth in demand for 3D printed products in the automotive industry drives the demand for manufacturing 3D printers and contributes to the growth of the 3D printer manufacturing market. The high cost associated with 3D printing hampers the growth of the 3D printer manufacturing market. Various factors contribute to the higher costs of 3D printing tools. To name a few, the energy that 3D printing requires to manufacture objects is massively expensive and the energy required by some of the 3D printing processes uses up to 50-100 times more electricity than injection molding machines. Furthermore, the software needed to run the 3D printers is costly and must be modified regularly to make it functional and effective. The cost of a 3D printer can vary by tens of thousands of dollars, from basic $200 fused filament fabrication (FDM) machines to the most advanced ones. The high cost associated with 3D printing limits the demand for 3D printers thereby restraining the growth of the 3D printer manufacturing market. Major companies in the 3D printer manufacturing market are producing printers that have a vast capacity and can print faster than conventional 3D printers. For instance, the stereo lithograph apparatus (SLA) 3D printer from Nexa3D will be 6 times faster than the machines of the other competitors and its capacity would also be 2.5 times larger. The project production time for prototypes is also reduced from hours to minutes and it is equipped with durable materials that can withstand ultra-fast 3D printing. In 2019, Nexa3D presented to the North American market its new SLA machine, the NXE400 3D printer. In February 2019, Xerox, the American manufacturer of printers and photocopiers, acquired Vader Systems for an undisclosed amount. This acquisition helps Xerox to access a Total Addressable Market (TAM) of $8 billion for additive/digital manufacturing. Vader Systems is a New York-based manufacturer of liquid metal jet 3D printers. Major players in the 3D printer manufacturing market are Stratasys, GE Additive, SLM Solutions, Voxeljet, Arcam AB, Hoganas AB, Groupe Gorgé, Renishaw PLC., Markforged Inc., Made In Space, Proto Labs Inc., and Tiertime. The regions covered in the 3D printer manufacturing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the 3D printer manufacturing market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The global 3D printer market is segmented - 1) By Printer Type: Desktop 3D Printer, Industrial 3D Printer 2) By Technology: Stereolithography (SLA), Fused Deposition Modeling (FDM), Selective Laser Sintering (SLS), Direct Metal Laser Sintering (DMLS), PolyJet/MultiJet Printing (MJP), Inkjet Printing, Electron Beam Melting (EBM), Laser Metal Deposition (LMD), Direct Light Projection (DLP), Others 3) By End-Use Industry: Automotive, Aerospace & Defense, Healthcare, Food, Construction & Architecture, Others

The mining machinery and equipment market consists of sales of mining machinery and equipment by entities (organizations, sole traders or partnerships) that are engaged in manufacturing underground mining machinery and equipment, such as coal breakers, mining cars, core drills, coal cutters, rock drills and manufacturing mineral beneficiating machinery and equipment used in surface or underground mines. Only goods and services traded between entities or sold to end consumers are included. The main types of mining machinery are underground mining machinery, surface mining machinery, drills and breakers, crushing, pulverizing, and screening equipment, mineral processing machinery, feed conveyors, stackers, and reclaimers. Pulverizing reduces minerals into small particles. Crushing reduces the size of materials into small substances for further processing. Screening separates one material from the other during the mechanical screening process. These mining machines are used for transportation, processing, excavation in coal, minerals, and metals mining. The global mining machinery and equipment market is expected to grow from $24.99 billion in 2020 to $27.07 billion in 2021 at a compound annual growth rate (CAGR) of 8.36%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $41.49 billion in 2025 at a CAGR of 11.26%. The increasing demand for mining is fueling the growth of the mining machinery and equipment market. Underground advanced mining equipment such as trucks, loaders and diggers is used to dig up the material and is usually transported to the ground through skips or lifts for further production. In the economic growth of developed nations such as Australia, the USA, and Canada, mining has performed a key role. Mining is notably crucial to the US economy because the USA is among the largest buyers of mineral resources and one of the largest producers in the world. For instance, according to the USA Geological report, in 2019 USA mines produced nearly $86.3 billion worth of minerals, $2 billion more than the minerals produced in 2018. Therefore, the increasing demand for mining drives the growth of the mining machinery and equipment market. The impact of COVID-19 is expected to impede the growth of the mining machinery and equipment market over the forecast period. The mining industry has struggled with economic problems, but the COVID-19 outbreak is unparalleled, even for the major firms on the market. The sudden breakdown of day-to-day activity and total lockdown throughout countries for months, combined with a persistent threat to human life, has impacted the mining sector. For instance, in 2021, Shell, the leading supplier of lubricants to the mining industry, reported that about 80% of mining companies encountered operational difficulties, such as lack of qualified staff and inadequate steps to retain workers secure when implementing advanced technologies. Therefore, the impact of COVID-19 hampers the growth of the mining machinery and equipment market. The growing technological advancements are a major trend shaping popularity in the mining machinery and equipment market. Major firms operating in the mining machinery sector are focusing on developing advanced technology solutions for mining machinery. For instance, in September 2020, Sandvik, a Sweden-based engineering group in mining and rock excavation, metal-cutting, and materials technology developed a concept vehicle, which is built on high-end technology and fitted with entirely new sensing technologies and artificial intelligence to improve mining procedures. The AutoMine Model that is used, views its surroundings and atmosphere in 3D and responds in real-time. These technologies give specific consumer benefits by enabling vehicles to adapt and schedule their own ways and to find the most efficient paths even in ever-changing environments. In June 2019, Komatsu Mining, a US-based company that manufactures and services heavy equipment used in the extraction and haulage of coal and minerals in both underground and surface mining, acquired Timberock International for an undisclosed amount. This acquisition expands Komatsu Mining's range of offerings for drilling and bolting products and provides exciting product development and synergy opportunities. Timberock International Ltd. is a Canada-based manufacturer of drilling and bolting components for underground hard rock mining. Major players in the mining machinery and equipment market are Caterpillar Inc., Komatsu Ltd., Metso Corporation, Sandvik AB, Doosan Corporation, Liebherr, Hitachi Construction Machinery Co., Ltd., Atlas Copco AB, Epiroc AB, Sany Heavy Equipment International Holdings Company Limited, Hyundai Heavy Industries, Joy Global Inc, Astec Industries Incorporated, Bell Equipment Limited, Boart Longyear Ltd, Bradken Limited, FLSmidth & Co., Furukawa Co. Ltd, Kopex SA, and Deere & Company. Asia Pacific was the largest region in the mining machinery market in 2020. The regions covered in the mining machinery and equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the mining machinery and equipment market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The global mining machinery and equipment market is segmented - 1) By Product Type: Underground Mining Machinery, Surface Mining Machinery, Drills and Breakers, Crushing, Pulverizing, and Screening Equipment, Mineral Processing Machinery, Others 2) By Function Type: Transportation, Processing, Excavation 3) By Application: Coal, Mineral, Metal

Industrial Machinery Market Definition

The compressors market consists of sales of compressors and related services by entities that manufacture air or gas compressor machines. Compressors are used to compress air or gas in a non-leakage sealed chamber and release the air or gas at the desired pressure. The global compressors market is expected to grow from $41.6 billion in 2020 to $42.57 billion in 2021 at a compound annual growth rate (CAGR) of 2.3%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $53.13 billion in 2025 at a CAGR of 5.7%. The increasing applications of compressors in the power industry isare one of the key drivers for the compressors market. This is mainly due to the rising global population which has led to an increase in the demand for electricity and other power resources to carry out day- to- day activities. In this regard, companies in the compressors market are offering compressors for the power industry. For instance, Atlas Copco, MAN Turbo, and Gardner Denver are some of the compressor manufacturers that offer compressors for power generation applications. The high maintenance cost of compressors is one of the major restraints on the compressors market. The maintenance of a compressor typically includes costs for repair including any leakages, changing the filter, and oiling. For example, the cost of oil required to operate an oil-lubricated compressor is around $3,000-$6,000 per year. Similarly, the disposal of condensate generated by the compressor can cost around $50,000 per year. Therefore, the maintenance costs involved in operating compressors continue to be an important restraint restricting the growth of the compressors market. The emergence of next-gen air compressors is an important trend in the compressors market. The next-generation air compressors are highly energy -efficient and eco-friendly and emits relatively lesser carbon emissions than the traditional compressors. For example, in 2018, Kirloskar Pneumatic Co Ltd in association with Top Tag Trading Est (3T Group) launched a next-generation diesel portable compressor, which offers high power efficiency at a low cost of ownership. Similarly, compressor manufacturer Atlas Copco offers the GA VSD+ compressor which reduces energy consumption by 50%. Other companies in the compressors market such as Hitachi and Ingersoll Rand are also working towards power- efficient and low-maintenance air compressors. The compressor machine manufacturers must comply with the standards set by the American Society of Mechanical Engineers (ASME) in the making and testing of compressors. One such example is the ASME Standard EA-4-2008. This standard specifically focusses on the requirements of conducting and collecting results of a compressed air system. The standard is set so as to avoid any kind of discrepancy in evaluating a compressor on the basis of its energy assessments. ASME Standard EA-4-2008 provides a detailed yet scalable process that can be molded for each compressor manufacturing facility. Hence, regulations such as these would keep a check on companies involved in manufacturing and testing compressors. Curtiss-Wright Corporation acquired Dresser-Rand in February 2018 for $212.5 million. Through this acquisition, Curtiss-Wright plans to increase its footprint on new U.S. Navy Nuclear vessels and grow its existing U.S. Navy aftermarket business. The acquisition also establishes a strong brand presence for Curtiss-Wright in the U.S. Navy shipyards by leveraging and taking the help of Dresser-Rand's equipment networks. Dresser-Rand is a leading manufacturer and designer of custom-engineered high-speed rotating equipment including reciprocating and displacement compressors, steam turbines, and steam system valves. It was established in 2004 and is headquartered in Houston, the USA. Major players in the market are Atlas, Ingersoll Rand, Siemens, Ebara, and ELGI Equipment Ltd. The countries covered in the global compressors market are Brazil, China, France, Germany, India, Indonesia, Japan, South Korea, Russia, UK, USA, Australia. The regions covered in the global compressors market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The global compressors market is segmented - 1) By Type: Air, Gas 2) By Appication: Construction, Power, Industrial Manufacturing, HVAC-R, Chemical & Cement, Oil & Gas, Automotive, Food & Beverage, Textile 3) By Compressor Type: Positive Displacement, Centrifugal 4) By Power Rating: 0-100 kW, 101-300 kW, 301-500 kW, 500 kW Above