The Business Research Company’s latest report Machinery Global Market Report 2020 covers Machinery market drivers, Machinery market trends, Machinery market segments, Machinery market growth rate, Machinery market major players, and Machinery market size. The report provides in-depth analysis of the impact of COVID-19 on the Machinery industry, along with revised market numbers due to the effects of the coronavirus.
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Machinery Global Market Report 2020 is the most comprehensive report available on this market and will help gain a truly global perspective as it covers 60 geographies. The chapter on the impact of COVID-19 gives valuable insights on supply chain disruptions, logistical challenges, and other economic implications of the virus on the market. The chapter also covers markets which have been positively affected by the pandemic.
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The global machinery market is expected to decline from $3240.1 billion in 2019 to $3074 billion in 2020 at a compound annual growth rate (CAGR) of -5.2%. The decline is mainly due to economic slowdown across countries owing to the COVID-19 outbreak and the measures to contain it. The market is then expected to recover and grow at a CAGR of 8% from 2021 and reach $3761.7 billion in 2023.
The report covers the Machinery market’s segments-
By Type: Agriculture, Construction, And Mining Machinery, Industrial Machinery, Commercial And Service Industry Machinery, Ventilation, Heating, Air-Conditioning, And Commercial Refrigeration Equipment, Metalworking Machinery, Engine, Turbine, And Power Transmission Equipment, Other General Purpose Machinery.
Subsegments covered: Construction Machinery, Agricultural Implement, Mining And Oil And Gas Field Machinery, Woodworking And Paper Machinery, Other Industrial Machinery, Printing Machinery And Equipment, Semiconductor Machinery, Food Product Machinery, Other Commercial And Service Industry Machinery, Photographic And Photocopying Equipment, Optical Instrument And Lens, HVAC And Commercial And Industrial Refrigeration Equipment, Commercial Fan And Air Purification Equipment, Heating Equipment (except Warm Air Furnaces), 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, Commercial Internal Combustion Engines, Turbine And Turbine Generator Set Units, Mechanical Power Transmission Equipment, Speed Changer, Industrial High-Speed Drive, And Gear.
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