Market Introduction
Industrial machinery is a device or machine that makes use of electrical and mechanical energy to perform work. Industrial machines include heavy machines that are used in construction, manufacturing, farming, mining, and others. These industrial machines reduce the efforts of humans and increase the efficiency and speed of the work done. It is expected that the rising population, along with high disposable income among middle-class people, will drive growth in the size of the industrial machinery market over the forecast period. Installation of electronic devices, including Europe positioning systems in farming and other machinery, assists in connecting several different tools to create a balanced and systematic approach. The technologically advanced and equipped equipment helps the overall productivity and efficiency increase and increase. Also, the rising investments in research and development in various segments, including data management, steering systems, interface, and operations automation, among others, are projected to have a positive impact on the market share of Europe industrial machinery.
In Europe, Italy is the hardest-hit country by the COVID-19 outbreak. It is expected to suffer an economic hit due to a lack of revenue from various industries. Other member states have implemented drastic measures and travel restrictions, including partially closing their borders. This is anticipated to impact market growth in Europe. The pandemic has had varied impact of European countries as selective countries witnessed a surge in number of confirmed cases and subsequently attracted stringent as well as longer lockdown period or social isolation, resulting in disruption of business. For instance, in Italy and Spain, industrial machinery demand declined significantly owing to notable number of positive cases. However, owing to robust healthcare infrastructure, western European countries such as Germany, France, and the UK have witnessed a comparatively moderate decline in their demand for various essential services and products. Lockdowns are expected to negatively impact the market and virtually disrupt the market growth across selected countries during the next few months, as well as potentially in the next few years.
Market Overview and Dynamics
The industrial machinery market in Europe is expected to grow from US$ 52,236.9 million in 2019 to US$ 79,343.9 million by 2027; it is estimated to grow at a CAGR of 6.20% from 2020 to 2027. The demand for heavy industrial machinery is also fueled by the growing investment in the construction industry. The construction activity is progressively increasing across all EU countries, supported by low-interest rates and stable economic growth. The construction industry in the region is crucial to its economy; it offers ~18 million direct jobs and contributes ~ 9% of the region’s GDP. The industry also drives economic growth and delivers solutions for social, climate, and energy challenges. Such a major focus on the construction industry indirectly influences the growth of the industrial machinery market. In this industry, several industrial machinery is used for numerous purposes in large projects. The selection of various heavy equipment depends on the size of the work and economy of the project. The growth in demand for commercial buildings, housing, and better infrastructural facilities is likely to surge the demand for machinery used in the construction sector.
Key Market Segment
In terms of machinery type, the food processing equipment segment accounted for the largest share of the Europe industrial machinery market in 2019. The changing lifestyles, the availability of raw materials required to provide a more comprehensive selection of food products at fewer costs and innovation in technology are some of the significant factors driving the demand for food processing equipment.
Major Sources and Companies Listed
A few major primary and secondary sources referred to for preparing this report on the industrial machinery market in Europe are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are AB Electrolux, Alfa Laval, Amada Co., Ltd, GEA Group, Haitian International, Mitsubishi Heavy Industries, Ltd, Schuler Group, Sumitomo Heavy Industries, Ltd., Syntegon Technology GmbH (Bosch Packaging Technology), and The Adelphi Group of Companies.
Reasons to buy report
Europe Industrial Machinery Market Segmentation
By Machinery Type
By Country
Company Profiles
| Report Attribute | Details |
|---|---|
| Market size in 2019 | US$ 52,236.9 Million |
| Market Size by 2027 | US$ 79,343.9 Million |
| CAGR (2020 - 2027) | 6.20% |
| Historical Data | 2017-2018 |
| Forecast period | 2020-2027 |
| Segments Covered |
By Machinery Type
|
| Regions and Countries Covered |
Europe
|
| Market leaders and key company profiles |
|
The Europe Industrial Machinery Market is valued at US$ 52,236.9 Million in 2019, it is projected to reach US$ 79,343.9 Million by 2027.
As per our report Europe Industrial Machinery Market, the market size is valued at US$ 52,236.9 Million in 2019, projecting it to reach US$ 79,343.9 Million by 2027. This translates to a CAGR of approximately 6.20% during the forecast period.
The Europe Industrial Machinery Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Europe Industrial Machinery Market report:
The Europe Industrial Machinery Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Europe Industrial Machinery Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Europe Industrial Machinery Market value chain can benefit from the information contained in a comprehensive market report.
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