Industrial Machinery Market Growth Trends & Emerging Opportunities to 2024
Industrial machinery market is mainly driven by mining and construction equipment industry. These industries play a vital role in the overall market growth as these two segments are expected to register a growth of more than 4.5% through the year 2024.
Industrial machinery market is anticipated to accrue significant gains in the coming years owing to the wide-ranging application spectrum of these machineries. There exists a wide range of possible uses for these machinery across diverse verticals, including construction, agriculture, mining, food processing packaging, and semiconductor manufacturing. Besides this, rising focus on mechanization of manufacturing processes along with expeditious infrastructure development activities is driving the market growth.
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China has a significant industrial machinery market share across various applications, which has made Asia pacific the most dominant regional market. The region has an unexploited potential consumer base, who generate decent demand. Furthermore, support from the regulatory authorities in the form of tax leniency in various countries, such as South Korea, India, and Japan is fueling industrial machinery market trends in the region.
Western countries are characterized by rising cost of ownership, financial constraints, and favorable federal reforms, which has led to shifting preferences towards rental industrial machinery among contractors, federal authorities, and various construction equipment users. Moreover, short-term rental schemes are being introduced in these regions, suitable for small scale contractors. Availability of such varied rental subscription plans has encouraged major companies engage in both non-exclusive and exclusive contracts across Europe and the U.S.
Industry is likely to accrue significant gains from application in the agriculture sector. Lately, the sector has been showcasing heightened interest towards the use of sophisticated technologies for increasing production. Agronomists are increasingly making use of satellites, agricultural vehicles, and sensors on light aircrafts to map crop conditions with respect to key parameters, such as red & near infrared reflectance.
These advanced technologies also facilitate determination of the normalized difference vegetation index (NVDI). Other commonly used agricultural machineries include plowing & cultivating machinery, farm tractors, haying, harvesting, planters, planting & fertilizing, liquid fertilizers spreaders/sprayers, livestock machinery, etc.
The prominent companies operating in industrial machinery market include Terex, Atlas Copco, Komatsu, Caterpillar, Hitachi, Sandvik, etc.
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Table Of Content
Chapter 4 Industrial Machinery Application Insights
4.1 Global market share by application, 2015 & 2024
4.2 Agriculture
4.2.1 market demand from agriculture, 2013 - 2024
4.3 Construction
4.3.1 market demand from construction, 2013 - 2024
4.4 Packaging
4.4.1 market demand from packaging, 2013 - 2024
4.5 Food Processing
4.5.1 market demand from food processing, 2013 - 2024
4.6 Mining
4.6.1 market demand from mining, 2013 - 2024
4.7 Semiconductor Manufacturing
4.7.1 market demand from semiconductor manufacturing, 2013 - 2024
Chapter 5 Industrial Machinery Regional Insights
5.1 market share by region, 2015 & 2024
5.2 North America
5.2.1 North America market, 2013 - 2024
5.2.2 North America market by application, 2013 - 2024
5.2.3 U.S.
5.2.3.1 U.S. market by application, 2013 - 2024
5.2.4 Canada
5.2.4.1 Canada market by application, 2013 - 2024
5.2.5 Mexico
5.2.5.1 Mexico market by application, 2013 - 2024
5.3 Europe
5.3.1 Europe market, 2013 - 2024
5.3.2 Europe market by application, 2013 - 2024
5.3.3 Germany
5.3.3.1 Germany market by application, 2013 - 2024
5.3.4 UK
5.3.4.1 UK market by application, 2013 - 2024
5.3.5 France
5.3.5.1 France market by application, 2013 - 2024
5.3.6 Italy
5.3.6.1 Italy market by application, 2013 - 2024
5.3.7 Russia
5.3.7.1 Russia market by application, 2013 - 2024
5.4 Asia Pacific
5.4.1 Asia Pacific market, 2013 - 2024
5.4.2 Asia Pacific market by application, 2013 - 2024
5.4.3 China
5.4.3.1 China market by application, 2013 - 2024
5.4.4 India
5.4.4.1 India market by application, 2013 - 2024
5.4.5 Japan
5.4.5.1 Japan market, 2013 - 2024
5.4.6 South Korea
5.4.6.1 South Korea market by application, 2013 - 2024
5.5 Latin America
5.5.1 Latin America market, 2013 - 2024
5.5.2 Latin America market by application, 2013 - 2024
5.5.3 Brazil
5.5.3.1 Brazil market by application, 2013 - 2024
5.6 MEA
5.6.1 MEA market, 2013 - 2024
5.6.2 MEA market by application, 2013 - 2024
5.6.3 KSA
5.6.3.1 KSA market by application, 2013 - 2024
5.6.4 UAE
5.6.4.1 UAE market by application, 2013 - 2024
5.6.5 South Africa
5.6.5.1 South Africa market by application, 2013 – 2024
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