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Technology Advances In The Industrial Machinery Market Enables Companies To Increase Product Portfolio

Industrial Machinery Market 2021 – Opportunities And Strategies – Forecast To 2030

Industrial Machinery Market 2021 – Opportunities And Strategies – Global Forecast To 2030

The Business Research Company’s Industrial Machinery Market 2021 – Opportunities And Strategies – Global Forecast To 2030

LONDON, GREATER LONDON, UK, November 30, 2021 /EINPresswire.com/ -- Rapid advances in technology is expected to drive innovation in industrial 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. Lower operating costs lead to higher margins, this allows companies to increase product portfolio and to enter new markets by making investments made through cost savings. IoT applications are also being integrated into these devices to enable services such as remote monitoring, central feedback systems and to offer other services. Mobile applications, advanced sensors and embedded software 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, having increased 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 and reach $1188.70 billion in 2030.

Read More On The Global Industrial Machinery Market Report:
https://www.thebusinessresearchcompany.com/report/industrial-machinery-market

3D log scanning is being integrated with saw mill manufacturing equipment to produce high grade lumber at mills. 3D log scanner is a scanner that measures the actual shape of the logs by coupling vision sensors with geometric data on the log. This helps to increase resolution quality, scan speeds and laser lighting which is used to measure dark logs leading to a high-grade lumber recovery. This technology is widely used in super mills which are a conglomerate of satellite mills with around two-three log lines. Also, sensors used in 3D log scanning help to capture the knots faster leading to an optimized yield. Major companies offering saw mill equipment with 3D log scanning technology include Raptor Integration Inc., LMI technologies, JoeScan.

Major players covered in the global industrial machinery market are ASML Holdings, Tokyo Electron, LAM Research, Tetra Pak, Applied Materials.

TBRC’s global industrial machinery market report is segmented by type into woodworking and paper machinery, other industrial machinery, printing machinery and equipment, semiconductor machinery, food product machinery, by operation into autonomous, semi-autonomous, manual, by capacity into 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 in the woodworking and paper machinery market segmented by type, at a CAGR of 13.1% during 2020-2025.

Industrial Machinery Market 2021 - By Type (Woodworking And Paper Machinery, Food Product Machinery Manufacturing, Printing Machinery And 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 one of a series of new reports from The Business Research Company that provides industrial machinery market overview, forecast 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, leading competitors’ revenues, profiles, and market shares.

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