Dublin, Sept. 27, 2022 (GLOBE NEWSWIRE) -- The "Machinery Global Market Report 2022" report has been added to ResearchAndMarkets.com's offering. This report provides strategists, marketers and senior management with the critical information they need to assess the global machinery market as it emerges from the COVID-19 shut down.
The global machinery market is expected to grow from $3,220.15 billion in 2021 to $3,552.69 billion in 2022 at a compound annual growth rate (CAGR) of 10.3%. The market is expected to grow to $5,057.47 billion in 2026 at a compound annual growth rate (CAGR) of 9.2%.
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Major companies in the machinery market include Caterpillar Inc, Deere & Company, Hitachi Ltd, Mitsubishi Heavy Industries Ltd, Komatsu Ltd, Johnson Controls International plc, Gree Electric Appliances Inc, Midea Group co ltd, Canon Inc, and Tetra Laval International S.A. The machinery market consists of sales of agricultural, industrial and commercial machinery by entities (organizations, sole traders, or partnerships) that produce agricultural, industrial and commercial machinery. These establishments assemble parts into components, sub-assemblies, and complete machines. The main types of machinery are automatic and semi-automatic. The automatic machinery refers to the machinery that works automatically without human intervention. The cAsia Pacificities are small, medium, and large. The various applications are automotive, precision engineering, transport, and other applications. The Asia Pacific was the largest region in the machinery market in 2021. Western Europe was the second largest region in the machinery market. The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. Rapid advances in technology are expected to drive innovation in machinery manufacturing, thus driving the market during the forecast period. Furthermore, technologies such as 3D printing, artificial intelligence, and big data analytics are being used in manufacturing thus resulting in higher productivity, lower operating costs, and higher margins.
For instance, according to a global survey by The Economist Intelligence Unit, about 90% of corporate executives felt that artificial intelligence (AI) will have a positive impact on a company's growth and 86% of respondents considered that AI will help improve productivity. Lower operating costs lead to higher margins, this allows companies to increase product portfolio and to enter new markets by making investments made through cost savings.
IoT applications are also being integrated into these devices to enable services such as remote monitoring, central feedback systems and to offer other services. Mobile applications, advanced sensors, and embedded software also created new opportunities for companies in this market. These factors are expected to drive the machinery manufacturing market during the forecast period. The outbreak of Coronavirus disease (COVID-19) has acted as a massive restraint on the machinery manufacturing market in 2020 as supply chains were disrupted due to trade restrictions and manufacturing activity declined due to lockdowns imposed by governments globally. COVID-19 is an infectious disease with flu-like symptoms including fever, cough, and difficulty in breathing.
The virus was first identified in 2019 in Wuhan, Hubei province of the People's Republic of China, and spread globally including Western Europe, North America, and Asia. Machinery manufacturers depend heavily on the supply of raw materials, parts, and components from different countries across the globe.
As many governments restricted the movement of goods across countries, manufacturers had to halt production due to a lack of raw materials and components. The outbreak is expected to continue to have a negative impact on businesses throughout 2020 and into 2021. However, it is expected that the machinery manufacturing market will recover from the shock across the forecast period as it is a 'black swan event and not related to ongoing or fundamental weaknesses in the market or the global economy. HVAC systems are being integrated with building automation systems for the overall management of a building to maximize energy efficiency. BAS receives analog or digital inputs from the sensors installed in HVAC and the integrated system is managed by a single dashboard accessed from a computer.
These integrated systems improve building performance, save energy, and shrink the environmental footprint. HVAC systems account for 60-70% of the total energy consumption of a typical commercial building, thus integrated systems enable commercial establishments to reduce power consumption.
For example, advanced BAS technology integrates lighting, water, elevators, security, and HVAC systems into a single automated platform. An integrated lighting and HVAC system automatically controls the lighting and temperature to ideal levels, thus reducing energy consumption and costs. GE and Trane are offering solutions that integrate HVAC with BAS. Key Topics Covered: 1. Executive Summary 2. Report Structure 3. Machinery Market Characteristics 3.1. Market Definition 3.2. Key Segmentations 4. Machinery Market Product Analysis 4.1. Leading Products/ Services 4.2. Key Features and Differentiators 4.3. Development Products 5. Machinery Market Supply Chain 5.1. Supply Chain 5.2. Distribution 5.3. End Customers 6. Machinery Market Customer Information 6.1. Customer Preferences 6.2. End Use Market Size and Growth 7. Machinery Market Trends And Strategies 8. Impact Of COVID-19 On Machinery 9. Machinery Market Size And Growth 9.1. Market Size 9.2. Historic Market Growth, Value ($ Billion) 9.2.1. Drivers Of The Market 9.2.2. Restraints On The Market 9.3. Forecast Market Growth, Value ($ Billion) 9.3.1. Drivers Of The Market 9.3.2. Restraints On The Market 10. Machinery Market Regional Analysis 10.1. Global Machinery Market, 2021, By Region, Value ($ Billion) 10.2. Global Machinery Market, 2016-2021, 2021-2026F, 2031F, Historic And Forecast, By Region 10.3. Global Machinery Market, Growth And Market Share Comparison, By Region 11. Machinery Market Segmentation 11.1. Global Machinery Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
Semi-Automatic 11.2. Global Machinery Market, Segmentation By Capacity, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
Large 11.3. Global Machinery Market, Segmentation By Application, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
12. Machinery Market Segments 12.1. Global Agriculture, Construction, And Mining Machinery Market, Segmentation By Type, 2016-2021, 2021-2026F, 2031F, Value ($ Billion) - Construction Machinery; Agricultural Implement; Mining And Oil And Gas Field Machinery 12.2. Global Industrial Machinery Market, Segmentation By Type, 2016-2021, 2021-2026F, 2031F, Value ($ Billion) - Woodworking And Paper Machinery; Other Industrial Machinery; Printing Machinery And Equipment; Semiconductor Machinery; Food Product Machinery 12.3. Global Commercial And Service Industry Machinery Market, Segmentation By Type, 2016-2021, 2021-2026F, 2031F, Value ($ Billion) - Other Commercial And Service Industry Machinery; Photographic And Photocopying Equipment; Optical Instrument And Lens 12.4. Global Ventilation, Heating, Air-Conditioning, And Commercial Refrigeration Equipment Market, Segmentation By Type, 2016-2021, 2021-2026F, 2031F, Value ($ Billion) - HVAC And Commercial And Industrial Refrigeration Equipment; Commercial Fan And Air Purification Equipment; Heating Equipment (except Warm Air Furnaces) 12.5. Global Metalworking Machinery Market, Segmentation By Type, 2016-2021, 2021-2026F, 2031F, Value ($ Billion) - Special Die And Tool, Die Set, Jig, And Fixture; Machine Tool; Industrial Mold; Rolling Mill And Other Metalworking Machinery; Cutting Tool And Machine Tool Accessory 12.6. Global Engine, Turbine, And Power Transmission Equipment Market, Segmentation By Type, 2016-2021, 2021-2026F, 2031F, Value ($ Billion) - Commercial Internal Combustion Engines; Turbine And Turbine Generator Set Units; Mechanical Power Transmission Equipment; Speed Changer, Industrial High-Speed Drive, And Gear 12.7. Global Other General Purpose Machinery Market, Segmentation By Type, 2016-2021, 2021-2026F, 2031F, Value ($ Billion) 13. Machinery Market Metrics 13.1. Machinery Market Size, Percentage Of GDP, 2016-2026, Global 13.2. Per Capita Average Machinery Market Expenditure, 2016-2026, Global
For more information about this report visit https://www.researchandmarkets.com/r/ojdvk3
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