Global Industrial Machinery Market Report 2021 - Opportunities And Strategies, Market Forecast And Trends
12 Mar, 2021
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. The industrial machinery market is segmented into woodworking and paper machinery, printing machinery and equipment, semiconductor machinery, food product machinery, and other industrial machinery.
Global Industrial Machinery Market Size And Drivers:
The global industrial machinery market is expected to grow from $534.89 billion in 2020 to $572.62 billion in 2021 at a compound annual growth rate (CAGR) of 7.1%. The market is expected to reach $793.85 billion in 2025 at a CAGR of 9%.
Rapid advances in technology are expected to drive innovation in industrial machinery manufacturing, thus driving the market during the forecast period.
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Trends In The Global Industrial Machinery Market
3D log scanning is being integrated with saw mill manufacturing equipment to produce high grade lumber at mills. 3D log scanner is a scanner that measures the actual shape of the logs by coupling vision sensors with geometric data on the log. This helps to increase resolution quality, scan speeds and laser lighting which is used to measure dark logs leading to a high-grade lumber recovery. This technology is widely used in super mills which are a conglomerate of satellite mills with around two-three log lines. Also, sensors used in 3D log scanning help to capture the knots faster leading to an optimized yield. Major companies offering saw mill equipment with 3D log scanning technology include Raptor Integration Inc., LMI technologies, JoeScan.
Global Industrial Machinery Market Segments:
The global industrial machinery market is further segmented based on type, operation, capacity and geography.
By Type: Woodworking And Paper Machinery, Other Industrial Machinery, Printing Machinery And Equipment, Semiconductor Machinery, Food Product Machinery.
By Operation: Autonomous, Semi-autonomous, Manual.
By Capacity: Small, Medium, Large.
By Mode: Online, Offline.
By Geography: The global industrial machinery market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.
Among these regions, Asia Pacific is the largest region in the global industrial machinery market, accounting to 56% of total market.
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Industrial Machinery Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides industrial machinery market overviews, analyzes and forecasts market size and growth for the global industrial machinery market, industrial machinery market share, industrial machinery market players, industrial machinery market segments and geographies, industrial machinery market’s leading competitors’ revenues, profiles and market shares. The industrial machinery market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.