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Industrial Machinery Market Outlook by Revenue Analysis and Trends Forecast to 2024

Author : Ronak Bora | Published Date : 2020-08-31 

Global industrial machinery market share is estimated to surpass a revenue of USD 771 billion by 2024. 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.

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.

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Agricultural machinery market has witnessed increased demand due to economic development. These mainly include farm tractors, harvesting, planting &fertilizing, haying, and livestock machinery, as well as liquid fertilizer spreaders/sprayers, planters, haying, plowing &cultivating machinery, etc.

Key insights from the report include:

Need for advanced vehicles equipped with emission control systems is also likely to propel industrial machinery market share. Regulatory support in the form of tax benefits have favorably influenced infrastructure activities in Japan, India, and South Korea. Escalating focus on infrastructure as well as increasing need for mechanization of manufacturing processes is projected to drive growth over the forecast timeline.

Growth in the global construction equipment market size as well as mining equipment industry is pivotal for growing industrial machinery market share. These segments are forecast to grow at over 4.5% CAGR from 2016 to 2024.

Smart packaging solution adoption and high demand for food processing and packaging due to changing consumer lifestyle will positively impact revenue generation over the next few years.

Manufacturing firms prefer creating their own supplier and distributors network to market their products. More collaborations with key suppliers for co-development of parts and systems among manufacturers offer efficient supply chains to reach out to more customers. U.S. based companies earn revenues through the export of machines in other countries such as Brazil, Canada, Australia, Mexico, etc. Though these products are made available at large retail outlets, e-commerce represents an attractive channel to reduce cost.

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Companies accounting for industrial machinery market share differ on the basis of product offering. Major players include Atlas Copco, Caterpillar, Sandvik, Hitachi, Komatsu, Terex, etc.

Table of Contents (ToC) of the report:

Chapter 3         Industrial Machinery Market Insights

3.1     Industry segmentation

3.2     Industry Size and forecast, 2013 - 2024

3.3     Industry ecosystem analysis

3.3.1     Distribution channel analysis

3.3.2     Vendor matrix

3.4     Technology & innovation landscape

3.4.1     Agriculture

3.4.1.1  Soil compaction

3.4.1.2  Mapping fields and crops

3.4.2     Construction

3.4.2.1  Wearable smart sensors

3.4.2.2  Tool tracking

3.4.2.3  Tablets and Wi-Fi

3.4.2.4  Mobile apps

3.5     Regulatory landscape

3.5.1     U.S.

3.5.1.1  Occupational Safety and Health Administration (OSHA)

3.5.1.1.1           ANSI Standards

3.5.1.1.2           National Fire Protection Association(NFPA)

3.5.1.2  Canada

3.5.1.2.1           Duty-Free Manufacturing Tariff Regime

3.5.1.3  Mexico

3.5.2     EU

3.5.2.1  Machinery Directive 2006/42/EC

3.5.3     China

3.5.3.1  MEP (Ministry of Environmental Protection, the People’s Republic of China)

3.5.3.2  CCC Mark

3.5.3.3  Protection of intellectual property rights

3.5.4     India

3.5.4.1  Occupational Health and Safety (OH&S)

3.5.4.2  Emission standards for diesel construction machinery

3.5.4.3  Emission standards for diesel agricultural tractors

3.6     Industry Impact forces

3.6.1     Growth drivers

3.6.1.1  Increasing mechanization of farming operations

3.6.1.2  Escalating infrastructure spending

3.6.1.3  Rising adoption of smart packaging solutions

3.6.1.4  Surging globalization to trigger food processing sector

3.6.2     Industry pitfalls & challenges

3.6.2.1  Health and safety concerns

3.6.2.2  Lack of skilled labor and technicians

3.7     Growth potential analysis

3.8     Company market share analysis, 2015

3.8.1     Strategic landscape

3.9     Porter’s analysis

3.10   PESTEL analysis

Browse complete Table of Contents (ToC) of this research report @ https://www.decresearch.com/toc/detail/industrial-machinery-market

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for fractovia and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. [email protected] | https://twitter.com/RonakBora26

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