Industrial Machinery Market size worth over $771.59bn by 2024

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Industrial Machinery Market size to exceed USD
771.59 billion by 2024 Global Market Insights
Inc.
Fuel Cell Market size worth 25.5bn by 2024
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Key Insights from Industrial Machinery Market

• 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.

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Continued

• 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.
• 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.

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U.S. Industrial Machinery market size, by
application, 2013-2024 (USD Billion)

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360 Analysis

• Application Analysis
• Packaging machinery market size is set to cross
  USD 65 billion by 2024. Rising demand for
  packaged beverages and food owing to growing
  middle class population accompanied by
  urbanization will act as a key growth driver.
  Other factors include rising focus on achieving
  high efficiency as well as increasing demand for
  multi-functional systems. Modular systems are
  likely exhibit growth over the forecast timeframe
  due to high flexibility offered during the
  packaging process. Technologies such as EOAT
  (end-of-arm-tooling) design advancements and
  vision sensor constitute the key industry trends.
• Regional Analysis
• Asia Pacific contributed to majority of the
  global revenue in 2015, primarily on account of
  the significant China industrial machinery market
  size. Europe industrial machinery market share
  will grow at 4.7 CAGR estimation over the
  forecast timeline. Stringent regulatory norms
  regarding numerous aspects such as quiet
  operation, safety and limitations on exhaust
  emissions, play a key role in introduction of
  refined machineries.
• Competitive Market Share
• On account of the diversified nature of the
  industry, major players differ on the basis of
  the product offering. Caterpillar, Komatsu,
  Hitachi, Volvo, Atlas Copco, and Terex represent
  key participants in the global industrial
  machinery market. In March 2015, Atlas Copco and
  Anglo American made headway in joint development
  of underground mining equipment, which is
  expected to be a significant example in
  innovative technology in mining industry.

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