Global Industrial Machinery Market Trends And Strategies Of Major Players In The Industrial Machinery Market 2021-2030
6 Jan, 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.
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 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 $793.85 billion in 2025 at a CAGR of 9%.
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Trends In The Global Industrial Machinery Market
3D log scanning is being integrated with sawmill 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 sawmill equipment with 3D log scanning technology include Raptor Integration Inc., LMI technologies, and JoeScan.
Global Industrial Machinery Market Segments:
The global industrial machinery market is further segmented based on type, by operation, by 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 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 was the largest region in the global industrial machinery market, accounting for 56% of the market in 2020. Western Europe was the second largest region accounting for 20% of the global market. Africa was the smallest region in the global industrial machinery 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.