The Machinery Global Market Report 2023 by The Business Research Company, provides machinery market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-yearforecast period – 2023-2032.
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According to The Business Research Company’s Machinery Global Market Report 2023, the market size is expected to grow from$3,542.77 billion in 2022 to $3,810.37 billion in 2023 at a compound annual growth rate (CAGR) of 7.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of global machinery market is expected to grow to $4,928.07 billion in 2027 at a CAGR of 6.6%.
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.
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The machinery market is segmented:
1) By Type: Automatic, Semi-Automatic
2) By Capacity: Small, Medium, Large
3) By Application: Automotive, Precision Engineering, Transport, Other Applications
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.
The machinery market report table of contents includes:
1. Executive Summary
2. Report Structure
3. Machinery Market Characteristics
4. Machinery Market Product Analysis
5. Leading Products/ Services
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20. Africa Machinery Market
21. Machinery Market Competitive Landscape
22. Key Mergers And Acquisitions In The Machinery Market
23. Recommendations
24. Appendix
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