Globally, machinery
manufacturers are re-allocating their production plants closer to consumer
markets to reduce costs and offer high quality products to customers. Rapid
wage increases, rising transportation costs and the difficulty of effective
quality control at offshore locations are leading them to re-assess the
attractiveness of off-shoring production locations in the developing countries.
These factors are encouraging many companies to relocate production closer to
their markets. For example, General Electric (GE) shifted a major part of its
production from China back to the USA in 2015.
THE
BUSINESS RESEARCH COMPANY EXPECTS THE MACHINERY MANUFACTURING GLOBAL MARKET TO
GROW TO $4 TRILLION BY 2021
Asia Pacific
was the largest region in the machinery manufacturing market in 2017, accounting
for nearly half of the market share. This is mainly due to the size of the
region’s economy and high demand for machinery from the region’s large
agriculture, and manufacturing industries, including, automobile,
telecommunication, and electronic appliances markets.
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report at: https://www.thebusinessresearchcompany.com/report/machinery-manufacturing-global-market-report-2018
The chart
below shows the year-on-year growth of the global machinery manufacturing market
during 2017– 2021
According to The Business
Research Company’s Consultant, Nitin Gianchandani, many machine manufacturing
companies are using robotics and automation to improve assembly and warehouse
operations efficiency. Sensors are being used in various machines to access
invaluable data for improving efficiencies and reduce potential breakdowns. For
instance, according to a report by Boston Consulting Group (BCG) in 2015, 1.2
million industrial robots are expected to be deployed by 2025, thus indicating
rise in automation and robotics technology adoption to improve productivity and
reduce production costs.
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General Electric Co was the largest player in the machinery
manufacturing market, with revenues of $75 billion in 2016. General Electric’s
strategy aims at reducing its costs of turbine manufacturing by taking
advantage of advanced manufacturing technologies. It is acquiring companies in
the turbine manufacturing value chain. In 2015, it acquired Alstom’s power and
grid businesses, a French company that provides power equipment and grid
software solutions. In the same year, it also acquired Metem Corporation, a USA
based precision cooling hole manufacturing technologies provider. GE also
acquired LM Wind Power, a Denmark based Wind Turbine Blades Manufacturer, in
2017.
The machinery manufacturing
industry comprises establishments primarily engaged in manufacturing industrial
and commercial machinery. These establishments assemble parts into components,
sub-assemblies and complete machines.
Machinery Manufacturing Global Market
Report 2018 is a detailed report giving a unique insight into this market. The
report is priced at $8000 for an individual user. To use across your office,
the price is $12000 and $16000 if you wish to use across a multinational
company.
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