Industrial Machinery: A Global Outlook
San Jose, CA (PRWEB) September 10, 2008
Industrial Machinery is a fundamental need and demand is directly proportional to a country's economic growth and output. A positive economic growth brings about increased investment in manufacturing facilities, leading to growth in the industrial machinery market. Key factors exerting an influence on the market's performance include, among others, investment in infrastructure by local governments, trends in the capital equipment end-user sector, advancements in technology, economic and political scenarios, level of demand for new equipments and replacements, regulatory issues and changes in the socio-economic structure. Demand is expected to stem mostly from developing regions while in developed nations, the industry is mature and is largely dependent on replacement needs.
Major producers of industrial machinery and equipment are located in developed countries, such as, US, Japan, and Western European countries. Lately however, manufactured are prompted to shift their production bases to developing countries on counts of attractive sops, low cost material, cheaper labor and enhanced commitment to product quality specifications.
Factors influencing demand in the agricultural machinery and implements market include economic and political scenario, technological innovations, government initiatives and weather conditions. Despite uncertain global scenario and weak US economic conditions, prospects for worldwide agricultural implements & machinery market appear positive primarily due to growing economies in developing nations such as Eastern Europe, Asia and Latin America, growth in farm size, product innovations, upgradation of obsolete machinery, revamping of a disintegrated farm system and mechanization of agricultural practices. In addition, farmers are increasingly investing in new technology and business practices to augment their competitive edge and overall farm profitability.
Construction equipment is highly cyclical and a capital-intensive industry. Cyclical nature of the industry is generally confined to mature markets such as the US, Japan, and European countries while emerging countries experience sustainable economic growth and intensified construction activity. Supply-demand dynamics for different types of construction & mining equipment is primarily determined by the nature of construction-related projects and level of mining activity in a country. Considering the diversity of projects in developed and developing nations, market for construction and mining equipment varies across regions.
Food processing machinery equipment industry is linked to the structure, behavior and trends in food processing industry. Food processing is increasingly becoming scientific and research oriented in developed countries with growing awareness of health and food quality among consumers. Development in food products, new processes, government regulations, and awareness among consumers regarding health and hygiene directly affect Food processing machinery equipment market.
The report titled "Industrial Machinery: A Global Outlook", published by Global Industry Analysts Inc, provides a collection of statistical anecdotes, market briefs, and concise summaries of research findings. The report provides an in-depth insight into the industry, highlights noteworthy trends currently in vogue in the industry's myriad market segments/categories, and tracks potential opportunities. The global market discussion is laced with 56 information laden market data tables, and unbiased research commentaries. Annotated with 26 tables, which enumerate key research findings, the regional markets abstracted, and researched include the US, Canada, Mexico, and Japan, among others.
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