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15.05.2019.

A steady growth and improvement

Global industrial machinery xafs is likely to face a fiercely competitive landscape over the years ahead, on account of the heavy investments in research and development activities to improve the overall performance of the products. Industrial machinery xafs is rather fragmented in nature, as it incorporates many major and local players having a diversified portfolio of their product offerings. Atlas Copco, Komatsu, Caterpillar, Hitachi, Volvo, and Terex are some of the prominent participants in the global xafs. These players are focused on building strong supplier and dealer base to expand their global reach. One such example is of a joint project between Atlas Copco and Anglo American in developing underground mining equipment, which further proved to be a significant case of innovation in the overall mining industry.
A steady growth and improvement in the manufacturing activities after the economic turmoil has heightened the demand for new industrial machinery. The global industrial machinery xafs will continue to gain from the soaring demand from metalworking, construction, automotive, semiconductor manufacturing and agricultural applications. Escalating economic development in the xafs has led to an increased machinery demand in the aforementioned sectors. Apart from this, the packaging machinery xafs is foreseen to generate USD 65 billion by 2024, in order to achieve high efficiency in packaging sector. The food processing machinery is also set to grow at an annual rate of 7% over the period of 2016-2024. Changing food manufacturing & eating trends, rapid industrialization, and increasing spending capacity have favored the overall growth of industrial machinery xafs to expand in every sector.Asia Pacific industrial machinery xafs procured a major chunk of the global revenue in 2015, mainly led by China.
Furthermore, improving conditions in downstream xafss of Europe have resulted in a higher demand for the regional industrial machinery xafs. The advent of advanced machinery including agricultural drones/ UAVs are likely to prove beneficial in boosting the xafs expansion.The companies operating in industrial machinery xafs make use of multiple choices such as outright purchase, rentals, and leasing of the machines which allows the user to invest smartly in the industrial set-up. As per a report by Global Market Insights, Inc., industrial machinery xafs is set to exhibit a revenue generation of over USD 771 billion by 2024, having had a valuation of USD 485 billion in 2015. The continued improvements in the industrial machinery xafs trends will sustain its growth through 2024.Key participants of global Industrial Machinery industry held more than 40% of the overall share in 2015, these statistics prove that this xafs is fairly consolidated. Leading players adopt strategies such as collaborations and partnerships with chemical and pharmaceutical companies to enhance their business position. Major firms operating in this xafs include bar magnet Manufacturers
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