Industry Overview
The
report “Industrial Machinery
Market Size By Application (Agriculture,
Construction, Packaging, Food Processing, Mining, Semiconductor Manufacturing),
Industry Analysis Report, Regional Outlook (U.S., Canada, Mexico, Germany, UK,
France, Italy, Russia, China, India, Japan, South Korea, Brazil, Saudi Arabia,
UAE, South Africa), Growth Potential, Price Trends, Competitive Market Share
& Forecast, 2016 – 2024”, by
Global Market Insights, Inc. says Global industrial
machinery market share is estimated to surpass a revenue of USD 771 billion by 2024.
Escalating
industrialization & growing trend of automation will stimulate industrial
machinery market growth over the coming years. Agricultural sector is
significantly sharing the industrial machinery business space, driven by the
ease of crop harvesting and growing demand for agricultural automation.
Incorporation of technological features such as GPS in agricultural equipment
along with economic development will propel industrial machinery industry
trends. Agricultural equipment includes farm tractors, planting &
fertilizing, plowing & cultivating, haying, harvesting, liquid fertilizer
sprayers, and livestock machinery.
https://www.gminsights.com/request-sample/detail/801
Moreover,
supporting regulatory norms regarding infrastructural tax will boost
construction activities across the countries such as India, South Korea, and
Japan. Growing need of excavators for heavy lifting, landscaping, brush
cutting, river dredging, etc. will positively influence the industrial
machinery market size. Furthermore, upgrowing R&D in various segments such
as automation of operations, steering systems, and data management is likely to
positively impact the market.
Food
processing, semiconductor manufacturing, mining, agriculture, construction,
packaging are the key application areas of the global industrial machinery
market. Packaging application will surpass a revenue USD 65 billion by 2024,
primarily driven by increasing demand for packaged food and beverages across
the burgeoning middle-class population. Additionally, rising demand for
multi-functional systems and emerging technologies such as vision sensors, EOAT
(end-of-arm-tooling) design will boost industrial machinery industry size.
Moreover, growing industrialization will drive construction and mining
applications, with a growth rate of 4.5% over the period of 2016 to 2024.
Furthermore, rapid urbanization,
changing consumer lifestyle, and increasing disposable income will notably
impact revenue generation in food processing application, which will exhibit
lucrative annual growth rate of 7% over the coming seven years. Moreover, the
liberalization of trades in food & agriculture, growing awareness about
food brands will further drive industrial machinery market size in food
processing application.
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Considering global industrial
machinery market, APAC region contributed majorly towards worldwide revenue in
2015. China will lead the Asia Pacific industrial machinery industry growth.
The attributing factors are increasing foreign investment for local production
facilities and development across consumer durables & food processing
sectors.
Europe industrial machinery industry
size is predicted to register a growth rate of 4.7% over the above-mentioned time,
owing to the strict government regulations pertaining to emissions, noise free
operations, and safety. Expanding construction equipment rental market will
also positively influence the industrial machinery business share.
Market players will enhance their
sale by strategic partnerships with the key suppliers to attract more
customers. Heavy investment in R&D to come up with better quality products
will be a major growth strategy over the coming years. Komatsu Limited, Caterpillar Inc., Hitachi,
Atlas Copco, Volvo, Terex, and Sandvik are some of the leading companies in the
industrial machinery market.
About
Global Market Insights
Global Market Insights, Inc., headquartered in
Delaware, U.S., is a global market research and consulting service provider;
offering syndicated and custom research reports along with growth consulting
services. Our business intelligence and industry research reports offer clients
with penetrative insights and actionable market data specially designed and
presented to aid strategic decision making. These exhaustive reports are
designed via a proprietary research methodology and are available for key
industries such as chemicals, advanced materials, technology, renewable energy
and biotechnology.
Contact
Us:
Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone:
1-302-846-7766
Toll
Free: 1-888-689-0688
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