Industrial Equipment Industry: Market Research Reports, Statistics and Analysis

Key Market Segments

• The global electrical equipment market is expected to expand at more than 4% per year from 2010 to 2015, at which time it will be worth almost $220 billion, according to MarketLine. In 2010, power cables topped this market segment, reaching in excess of $45 billion or over a quarter of overall market revenue.

• The worldwide market for transformers is expected to reach almost $54 billion, or 9.7 million units of electricity by 2017, according to research from Global Industry Analysts. Growing demand for electricity in developing nations is fuelling the market, along with rising demand for voltage transformers and higher government spending in the power sector. Urbanization across the world will continue to grow demand, with gas-insulated transformers proving particularly lucrative.

• The global machine tools market is expected to be worth more than $165 billion by 2017, according to Global Industry Analysts. Machine tools are used to fabricate the majority of today’s products and are central to manufacturing in industries such as automotive, IT and construction. Demand is showing marked growth in developing economies like India, Brazil, Thailand and Taiwan.

• The global construction machinery market is expected to grow at 6.5% yearly to reach an overall worth of over $170 billion in 2015, according to Freedonia. North American equipment demand is expected to expand at almost 7% yearly over the five-year period ending 2015. Expansion is forecast to slow through 2015 in Central and South America, Asia-Pacific, and Africa-Mideast due to a falling off in construction and mining.

• The world bearings market is expected to be worth over $63 billion by 2015 according to Global Industry Analysts. Growth is being fuelled by industries reliant on the bearings market, including construction equipment, automotive and agriculture. Demand will be especially strong in China.

• The global industrial valves market has a forecast worth of $72 billion in 2015 says Global Industry Analysts. The market is fuelled by state legislation regarding emission control and rising demand for electricity and water. Demand is expected to be particularly strong in developing nations such as Latin America and Asia.

Regional Market Share

The US commercial and service industry for machinery manufacturing was worth almost $12 billion in 2010, according to Supplier Relations. The market grew close to 30% in 2010, with imports worth almost $487 million from 50 countries. Exports for the industry were worth around $0.8 billion, spanning 155 countries. Total domestic demand exceeded $11.5 billion in 2010.

Market Outlook

The industrial equipment manufacturing industry was affected by decreased demand from industries hit by the economic downturn, including mining and oil. As the economy witnesses a degree of recovery, demand for industrial equipment will rise. The industry will be affected by widespread automation, making it smaller, with a reduction in the number of companies in operation over the five-year period ending 2016.

Leading Industry Associations

• Association of Equipment Manufacturers www.aem.org
• Industrial Heating Equipment Association www.ihea.org
• International Safety Equipment Association www.safetyequipment.org
• Association of Leaders in Equipment Distribution www.aednet.org
• Industrial Supply Association www.isapartners.org
• North American Equipment Dealers Association www.naeda.com