How Global Industrial Machinery Market Players Should Strategize For 2022-2031

The global industrial machinery market size is expected to grow from $461.89 billion in 2021 to $506.51 billion in 2022 at a compound annual growth rate (CAGR) of 9.7%. The global industrial machinery market size is then expected to grow to $703.68 billion in 2026 at a CAGR of 8.6%.

What is the Global Industrial Machinery Market?

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.

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What drives the Global Industrial Machinery Market?

Rapid advances in technology are expected to drive innovation in industrial machinery manufacturing, thus driving the market during the forecast period. Furthermore, technologies such as 3D printing, artificial intelligence, and big data analytics are being used in manufacturing thus resulting in higher productivity, lower operating costs, and higher margins. For instance, according to a global survey by The Economist Intelligence Unit, about 90% of corporate executives felt that artificial intelligence (AI) will have a positive impact on a company’s growth and 86% of respondents considered that AI will help improve productivity. Lower operating costs lead to higher margins, this allows companies to increase product portfolio and to enter new markets by making investments made through cost savings. IoT applications are also being integrated into these devices to enable services such as remote monitoring, central feedback systems and to offer other services. Mobile applications, advanced sensors, and embedded software also created new opportunities for companies in this market. These factors are expected to drive the engine, turbine, and power transmission equipment manufacturing market during the forecast period.

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Global Industrial Machinery Market Segments
The global industrial machinery market is segmented:
By Type: Woodworking and Paper Machinery, Printing Machinery and Equipment, Semiconductor Machinery, Food Product Machinery, Others
By Operation: Autonomous, Semi-Autonomous, Manual
By Capacity: Small, Medium, Large
By Geography: The regions covered in the industrial machinery market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

Industrial Machinery Global Market Report 2022provides market size and growth forecasts for the global industrial machinery market, global industrial machinery market share, industrial machinery market segments and geographies, industrial machinery market competitive landscape including 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.

Global Industrial Machinery Industry Playersinclude ASML Holding N.V, Tetra Laval International S.A, Tokyo Electron Ltd, Lam Research Corp, Applied Materials Inc, Canon Inc, Dover Corporation, Konica Minolta Inc, KLA-Tencor Corp, and Thyssenkrupp AG. Based on industry trends and company analysis, the report explains a number of strategies for companies in the market.