Hexa Research
Fact-based market research, penetrating industry insights and validated
forecasts to help you make better decisions for a stronger future
The increased dependency on machines is estimated to create a huge demand for
industrial machinery over the forecast period. The industrial machinery aftermath
market which includes maintenance and service contracts is anticipated to influence the
market growth positively. Increasing capital expenditure on automated processes and
increasing research & development and innovation in this market expected to boost
market growth over the forecast period.
The increasing cost of raw materials like steel, energy especially coal and fuel prices
have adversely affected the growth in the industrial machinery market. Government
policies affecting prices along, import and export tariffs, and trade relations with the
other countries could also restrict the growth in the market.
The industrial machinery market can be categorized into agriculture & food machinery,
construction machinery & related equipment, power & energy equipment, aerospace,
material handling machinery, personal protective equipment, metalworking machinery,
general purpose industrial machinery, automotive, mining and industrial process
machinery.
North America is anticipated to observe a decline in the market growth mainly due to a
decrease in the mining activities. A sharp fall in the demand for farm and mining
machinery is expected over the coming years. Currency fluctuations could also hinder
the industrial machinery market growth.
The market in South Africa is expected to experience high growth rate as the
government in focusing on improving its manufacturing, chemical processing,
agricultural sectors and mining. Huge investments made in the residential, commercial,
industrial and infrastructure segment is anticipated to boost market growth over the
future years.
Contact: +1-800-489-3075
Email : [email protected]
Website: http://www.hexaresearch.com/