Global Industrial Machinery Market Size 2024, Forecast To 2033
11 Mar, 2024
The industrial machinery market has demonstrated robust growth, increasing from $546.76 billion in 2023 to $589.34 billion in 2024, reflecting a compound annual growth rate (CAGR) of 7.8%. This growth in the historic period is attributed to the expansion of the manufacturing industry and overall economic growth. Looking towards 2028, the market is anticipated to see strong growth, targeting a size of $777.35 billion at a CAGR of 7.2%. The projected growth is influenced by technological advances and an increase in the consumption of processed food. Major trends in the forecast period include investments in 3D log scanning for high-grade lumber, robotics, and automation to enhance manufacturing efficiency, investments in radiant energy vacuum technology, and continuous baking ovens to improve production efficiency.
Global Industrial Machinery Market Key Driver
The growth of the industrial machinery market is anticipated to be propelled by the increasing manufacturing output across various industries. Manufacturing output, referring to the quantity of goods produced by manufacturing processes, is crucial for industries. Industrial machinery plays a vital role in automating and streamlining manufacturing processes such as cutting, forming, assembling, and packaging. In July 2023, Eurostat reported a 0.2% increase in industrial output in the euro area and a 0.1% increase in the European Union between May and April 2023. The upward trend in manufacturing output across industries is expected to drive the future growth of the industrial machinery market, with the 2023, 2024, and 2028 market sizes influencing this trajectory.
Get A Free Sample Of The Global Industrial Machinery Market ReportGlobal Industrial Machinery Market 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
By Geography:The regions covered in the industrial machinery market report are Australia, China, India, Indonesia, Japan, South Korea, Bangladesh, Thailand, Vietnam, Malaysia, Singapore, Philippines, Hong Kong, New Zealand, USA, Canada, Mexico, Brazil, Chile, Argentina, Colombia, Peru, France, Germany, UK, Austria, Belgium, Denmark, Finland, Ireland, Italy, Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, Russia, Czech Republic, Poland, Romania, Ukraine, Saudi Arabia, Israel, Iran, Turkey, UAE, Egypt, Nigeria, South Africa
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
Major Industrial Machinery Industry Players
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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Industrial Machinery Market Overview
Industrial machinery is power-driven machines or groups of machines working together in a coordinated manner in various industrial activities. This is used to cut, shape, form, press, lamination, or a combination of these processes. They are not portable by hand while working.
Industrial Machinery Global Market Report 2023 provides data on the global industrial machinery market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The industrial machinery market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.