Building everything from tools and heavy equipment that are vital for the construction and mining industries to the machines essential for infrastructure development in energy production and distribution, industrial machinery is a crucial industry for the world. Industrial machines assist in aircraft manufacturing, shipbuilding, and other vehicles. It can be stated that the success of many industries depends on the continuous production of industrial machines. Technological progress made in industrial machinery manufacturing has impacted the speed, quality, and quantity of manufacturing, thus benefiting productivity and profitability. Economic conditions, industrial tariffs, and investments made in the industrial machinery sectors are also important both within the European Union and across the world.
Size of the global construction equipment market
Leading construction equipment manufacturer in the world
The global construction equipment industry is worth almost 140 billion U.S. dollars. North America, Western Europe, and East Asia are among the most important markets. As urbanization is taking off, investments from public and private sectors into infrastructure projects will push the construction equipment market growth.
With a market size of over 66 billion U.S. dollars, the machine tool industry is one of the key industries within the industrial machinery manufacturing sector. Machine tools are used to shape rigid metals such as metals, by cutting, shearing, grinding, or lathing. The major areas of application include machinery manufacturing and vehicle production.
Right from the dawn of Industry 1.0, industrial machinery manufacturing has picked up great innovations. By building products layer by layer rather than forging or casting, 3D printing is able to utilize many materials for a wide range of applications, such as the production of prototypes. It is yet to be seen, how 3D printing will affect the sector, but this technology is predicted to be at the forefront of yet another industrial revolution.
Caterpillar Inc. is ranked among the world’s top manufacturers of construction machinery, as well as various other types of machinery and engines. The company was founded in 1925 in California, following a merger between two of the most important tractor manufacturers in the United States at the time. As a multinational, Caterpillar has employees all around the world, although most of its employees are based in North America.
China, Germany, and Japan are the most important producers of machine tools. With a market share of 29 percent, China is the main producer and consumer of machine tools. Of producing countries worldwide, Germany was the highest-ranking European country, coming in second with a market share of 15 percent.
The industrial machinery manufacturing industry comprises the manufacture of all mechanical machinery for use in mining, manufacturing, energy, and construction sectors, as well as domestic appliances (e.g., air conditioning). This category includes the manufacturing of machine tools, material handling systems, heavy machinery, industrial machinery, as well as the manufacture of propulsion and powertrain technologies. Within this sector, Statista presents the most relevant and up-to-date facts related to the manufacturing of industrial machines. Data on a global, regional, and country scale is available, integrated with information on the largest players.