Technological advances in the industrial machinery market allow companies to increase their product portfolio
The Business Research Company Industrial Machinery Market 2021 – Opportunities and Strategies – Global Forecast to 2030
LONDON, GREATER LONDON, UK, November 30, 2021 /EINPresswire.com/ – Rapid technological advancements are expected to drive innovation in industrial machinery manufacturing, thereby boosting the market during the forecast period. Additionally, technologies such as 3D printing, artificial intelligence, and big data analytics are used in manufacturing, resulting in higher productivity, lower operating costs, and higher margins. Lower operating costs lead to higher margins, allowing companies to expand their product portfolio and enter new markets by making investments through cost savings. IoT applications are also built into these devices to enable services such as remote monitoring, central feedback systems and to deliver other services. Mobile applications, advanced sensors and embedded software have also created new opportunities for companies in this market. These factors are expected to drive the engine, turbine and power transmission equipment manufacturing market during the forecast period.
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The global industrial machinery market size reached a value of nearly $ 534.90 billion in 2020, after increasing at a compound annual growth rate (CAGR) of 5.1% since 2015. The market is expected to grow from $ 534.90 billion in 2020 to $ 793.90 billion in 2025 at a rate of 8.2%. The industrial machinery market is then expected to grow at a CAGR of 8.4% from 2025 to reach $ 1188.70 billion in 2030.
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3D log scanning is incorporated into sawmill manufacturing equipment to produce high quality lumber in sawmills. The 3D log scanner is a scanner that measures the actual shape of logs by coupling vision sensors with geometric data on the log. This increases the quality of resolution, scan speeds, and laser illumination used to measure dark logs, resulting in high quality wood recovery. This technology is widely used in super factories which are a conglomerate of satellite factories with about two or three log lines. Additionally, the sensors used in 3D log scanning help capture nodes faster, which helps optimize throughput. Leading companies offering sawmill equipment with 3D log scanning technology include Raptor Integration Inc., LMI technologies, JoeScan.
The major players covered in the global industrial machinery market are ASML Holdings, Tokyo Electron, LAM Research, Tetra Pak, Applied Materials.
The global TBRC industrial machinery market report is segmented by type into woodworking and paper machinery, other industrial machinery, printing machinery and equipment, semiconductor machinery, food processing machinery, by stand-alone operation, semi-autonomous, manual, by capacity in small, medium, large.
The paper industry machinery market was the largest segment of the woodworking and paper machinery market segmented by type, accounting for 89.5% of the total in 2020 and is expected to be the fastest growing segment of the market. of wood and paper machinery segmented by type, at a CAGR of 13.1% during 2020-2025.
Industrial Machinery Market 2021 – By Type (Wood & Paper Machinery, Food Machinery Manufacturing, Printing Machinery & Equipment, Semiconductor Machinery), By Operation (Autonomous, Semi-Autonomous, Manual), By Capacity (Small, Medium, Large) and by Region, Opportunities and Strategies – Global Forecast to 2030 is part of a series of new reports from The Business Research Company which provides an overview of the industrial machinery market, a forecast of the industrial machinery market size and growth for the whole market, industrial machinery market segments and geographies, industrial machinery market trends, industrial machinery market drivers, restraints, revenue, profiles and shares of the main competitors.
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