Europe Industrial Machinery Market to Grow at a CAGR of 6.20% to reach US$ 79,343.9 Million from 2020 to 2027

The industrial machinery market in Europe is expected to grow from US$ 52,236.9 million in 2019 to US$ 79,343.9 million by 2027; it is estimated to grow at a CAGR of 6.20% from 2020 to 2027.

Industrial machinery is a device or machine that makes use of electrical and mechanical energy to perform work. Industrial machines include heavy machines that are used in construction, manufacturing, farming, mining, and others. These industrial machines reduce the efforts of humans and increase the efficiency and speed of the work done. It is expected that the rising population, along with high disposable income among middle-class people, will drive growth in the size of the Europe industrial machinery market over the forecast period. Installation of electronic devices, including Europe positioning systems in farming and other machinery, assists in connecting several different tools to create a balanced and systematic approach. The technologically advanced and equipped equipment helps the overall productivity and efficiency increase and increase. Also, the rising investments in research and development in various segments, including data management, steering systems, interface, and operations automation, among others, are projected to have a positive impact on the market share of Europe industrial machinery.

Excavators are used extensively in heavy lifting, general grading/landscaping, demolition, river dredging, digging trenches, and hydraulic brush cutting. Heavy-duty excavators are primarily used in the mining and heavy building industries. Growing capacity increase prevalence in the cement industry is projected to catalyze market growth over the coming years, thereby fueling the overall growth of the industrial machinery market. The risks associated with mining activities such as rock falls and slope failures, on the other hand, are a vital factor analyzed to hinder the market growth. Although surface mines are huge sites where large moving equipment is handled by human laborers. Therefore, significant factors such as obstructions and blind intersections along with irregular road designs are some other vital factors that are expected to hamper industrial machinery demand over the forecast period.

Additionally, strict government regulations on several aspects, including safety, quiet operation, and limitations on exhaust gas emissions play a vital and crucial role in the launch of enhanced and refined machinery. Sophisticated structural designs have helped optimize both the overall orifice diameter and hydraulic fluid quantities. It also helps to reduce the level of vehicle vibration as compared to traditional products. Also, the addition of sensors in agricultural machinery such as tractors is expected to play a significant role in the analysis of crops as these measurements relate to minimal vulnerability to weather-related problems and provide accurate and closest real-time crop assessments.

Besides, a growing awareness of sanitation and nutrition is expected to have a positive impact on the food and packaging sector over the forecast period, which in turn provides growth avenues for the Europe industrial machine market. What's more, rising living standards are also expected to fuel the food and packaging industry. High precision and pace these machines offer enormous growth potential to the industry. The proliferation of these machines helps to accomplish the work more quickly and with high accuracy. It also helps to broaden the scope for employment, as it helps to create jobs because of the advent of new machinery. The above factors are responsible for boosting the growth in demand over the forecast period.

In Europe, Italy is the hardest-hit country by the COVID-19 outbreak. It is expected to suffer an economic hit due to a lack of revenue from various industries. Other member states have implemented drastic measures and travel restrictions, including partially closing their borders. This is anticipated to impact market growth in Europe. The pandemic has had varied impact of European countries as selective countries witnessed a surge in number of confirmed cases and subsequently attracted stringent as well as longer lockdown period or social isolation, resulting in disruption of business. For instance, in Italy and Spain, industrial machinery demand declined significantly owing to notable number of positive cases. However, owing to robust healthcare infrastructure, western European countries such as Germany, France, and the UK have witnessed a comparatively moderate decline in their demand for various essential services and products. Lockdowns are expected to negatively impact the market and virtually disrupt the market growth across selected countries during the next few months, as well as potentially in the next few years.

Europe Industrial Machinery Market Segmentation

Europe Industrial Machinery Market, by Machinery Type

• Packaging Machinery
  • Filling Machines
  • Palletizing Machines
  • Labeling Machines
  • Wrapping Machines
  • Others
• Food Processing Equipment
  • Slicers and Dicers
  • Extruding Equipment
  • Depositors and Mixers
  • Storage and Refrigeration
  • Others
• Plastics Processing Machinery
  • Injection Molding Machine
  • Blow Molding Machine
  • Extrusion Molding Machine
  • Others
• Metal Forming Tools
  • Pressure Machine
  • Bending Machine
  • Casting and Punching Machine
  • Others
• Woodworking Machinery
  • Lathers Machine
  • Grinding Machine
  • Bandsaw
  • Others

Europe Industrial Machinery Market-Companies Mentioned

• AB Electrolux
• Alfa Laval
• Amada Co., Ltd
• GEA Group
• Haitian International
• Mitsubishi Heavy Industries, Ltd
• Schuler Group
• Sumitomo Heavy Industries, Ltd.
• Syntegon Technology GmbH (Bosch Packaging Technology)
• The Adelphi Group of Companies       

Europe Industrial Machinery Report Scope