Global Industrial Machinery Market Size, Share, and COVID-19 Impact Analysis, By Operation (Manual Machinery, Automated Machinery, Robotic Machinery, and Semi-Automated Machinery), By Application (Packaging, Mining, Agriculture, Construction, Semiconductor Manufacturing, Food Processing, and Others), By Distribution Channel (Indirect Sales and Direct Sales), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023-2033

Global Industrial Machinery Market Insights Forecasts to 2033

• The Global Industrial Machinery Market Size was Estimated at USD 655.53 Billion in 2023
• The Market Size is Expected to Grow at a CAGR of around 8.91% from 2023 to 2033
• The Worldwide Industrial Machinery Market Size is Expected to reach USD 1538.81 Billion by 2033
• Asia Pacific is Predicted to Grow at the fastest CAGR throughout the Projection Period

The Global Industrial Machinery Market Size is Predicted to Exceed USD 1538.81 Billion by 2033, Growing at a CAGR of 8.91% from 2023 to 2033.

Market Overview

The global industrial machinery market involves the manufacturing and distribution the machinery and equipment used in several industries such as construction, food processing, mining, and agriculture. The industrial machinery sector, which provides tools, massive machinery, and equipment for mining, building, energy production, and distribution, is essential to global infrastructure and logistical services. Additionally, it supports the production of ships, automobiles, and airplanes. Improvements in manufacturing speed, quality, and quantity brought forth by technological improvements have increased productivity and profitability. Industrial machinery comprises a variety of tools built for certain purposes, allowing for the quick, effective, and reliable manufacturing of goods of superior quality. To maximize output and boost productivity and efficiency, it incorporates cutting-edge technologies. A key component of the worldwide economy, the industrial machinery industry spans several sectors, including mining, construction, automotive, and energy. It is anticipated that market expansion would be fueled by automation, robots, and advanced manufacturing technologies, including artificial intelligence (AI), machine learning, and the Internet of Things (IoT). These developments increase production effectiveness, reduce human error, and raise the calibre of final goods.

Several government initiatives drive the market growth. Through several programs, such as Make in India, Startup India, PM Gati Shakti, and the National Infrastructure Pipeline, the Indian government is encouraging industrial development. These initiatives seek to facilitate commercial transactions, streamline procedures, build a strong industrial ecosystem, and lessen the cost of compliance for business owners. The government is additionally utilizing contemporary instruments like the India Industrial Land Bank and the National Single Window System to guarantee smooth industrial progress. The Indian Footwear and Leather Development Program, the liberalization of FDI policies, and the Production Linked Incentive scheme are other noteworthy initiatives.

Report Coverage

This research report categorizes the global industrial machinery market based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the global industrial machinery market. Recent market developments and competitive strategies such as expansion, product launch, development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the global industrial machinery market.

Driving Factors:

The market for industrial machinery is expanding as a result of automation, technical developments, and the need for energy-efficient equipment in the building and manufacturing industries. The market is changing as companies use cutting-edge industrial solutions to increase production and efficiency. By improving machine performance and opening the door for new machines, cutting-edge technologies like IoT, AI, and machine learning are completely changing the industry. Predictive maintenance, downtime reduction, and operational efficiency optimization are all made possible by smart technologies. Additionally, manufacturers are moving toward renewable energy sources and eco-friendly solutions, opening up new markets for specialist equipment to support these energy systems.

Restraining Factors

The stringent regulatory challenges, the absence or lack of skilled personnel, disruptions in the supply chain, operational costs of the particular manufacturing, fluctuation in the prices of the raw material, and regional conflicts may impede the market growth.

Market Segmentation

The global industrial machinery market share is classified into product type and formulation.

• The automated machinery segment dominated the global industrial machinery market in 2023 and is anticipated to grow at a CAGR of 9.27% throughout the forecast period.

Based on the operation, the global industrial machinery market is categorized into manual machinery, automated machinery, robotic machinery, and semi-automated machinery. Among these, the automated machinery segment dominated the global industrial machinery market in 2023 and is anticipated to grow at a CAGR of 9.27% throughout the forecast period. The segmental expansion is attributed to the following factors, such as growing use of robotics, increasing productivity, technological advancements in robotics and AI technology, minimized product defects, reduced manual tasks, and growing use of automated machinery in food processing, which enhances efficiency, improves accuracy.

• The construction segment accounted for the largest market share of 41.55% in 2023 and is expected to grow at a CAGR of 9.36% throughout the projected timeframe.

Based on the applications, the global industrial machinery market is categorized into packaging, mining, agriculture, construction, semiconductor manufacturing, food processing, and others. Among these, the construction segment accounted for the largest market share of 41.55% in 2023 and is expected to grow at a CAGR of 9.36% throughout the projected timeframe. This is driven by factors such as urbanization, population growth, government initiatives, technological advancements, sustainability goals, economic growth, and private sector investments. Government initiatives, such as smart cities and industrial corridors, boost construction activities, and the growing need for bulldozers, cranes, and other construction equipment propels the segment's growth. Sustainability goals align with global trends, while expanding economies drive increased investments in industrial and infrastructure projects.

• The indirect sales segment accounted for the largest market share of 67.41% in 2023 and is expected to grow at a significant CAGR throughout the projected timeframe.

Based on the distribution channel, the global industrial machinery market is categorized into indirect sales and direct sales. Among these, the indirect sales segment accounted for the largest market share of 67.41% in 2023 and is expected to grow at a significant CAGR throughout the projected timeframe. The sector growth is ascribed to improved market accessibility, customer service, inventory control, customizable, and efficient logistics.

Regional Segment Analysis of the Global Industrial Machinery Market

• North America (U.S., Canada, Mexico) 
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America) 
• The Middle East and Africa (UAE, South Africa, Rest of MEA)

North America is anticipated to hold the largest share of the global industrial machinery market over the predicted timeframe.

North America is anticipated to hold the largest share of the global industrial machinery market over the predicted timeframe. The need for personalization from consumers, the expansion of e-commerce, and the globalization of manufacturing are some of the factors propelling the industrial machinery market. Global supply chain integration is increasing demand for sophisticated machinery, especially automated systems. Innovation in machinery and the transformation of industrial processes are being fueled by the adoption of Industry 4.0 practices, such as robotics and IoT. Manufacturers of machinery can increase their footprint in emerging markets in underdeveloped nations. The demand for adjustable manufacturing systems to create personalized goods is driving investments in flexible equipment. Owing to its many large manufacturers and innovators, the United States is a prominent player in the North American industrial machinery market, with a well-established supply chain and distribution network.

Asia Pacific is anticipated to grow at the fastest CAGR throughout the projected timeframe. The market for industrial machinery in the Asia-Pacific region is expanding quickly as a result of increased infrastructure, industrialization, and technology. Significant expansion is occurring in nations like China, India, and Southeast Asia, which is increasing demand for machinery in a variety of industries. The need for heavy machinery and construction is being driven by government initiatives such as smart city projects and industrial corridors. Automation, robots, and Internet of Things-enabled equipment are examples of technological advancements that are revolutionizing manufacturing processes and increasing productivity. Opportunities for machinery makers are being created by the region's emerging economies' significant investments in manufacturing capacity. China's industrialization and urbanization are driving up demand for machinery in sectors like construction, electronics, and automobiles, and sustainability trends are additionally becoming more popular. China's competitiveness in both domestic and international markets is accelerated by its highly educated and inexpensive workers.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the global industrial machinery market, along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• Honeywell International
• CNH Industrial
• ESCO
• Alfa Laval
• Ingersoll Rand
• Gerdeu
• AGCO
• Brandt Industries
• Caterpillar
• Deere and Company
• Mitsubishi Heavy Industries, Ltd.
• Sandvik AB
• Komatsu Ltd.
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting and Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Recent Developments

• In April 2025, Hitachi Industrial Equipment Systems Co., Ltd. (HIES) launched a Grid Forming Inverter (GFM) at its Narashino Works facility in Chiba Prefecture. The GFM is a next-generation power conditioner that simulates the stabilizing effects of large power plants, helping stabilize electric power systems during the global transition to renewable energy. The GFM is designed to help the company adapt to the changing energy landscape.

• In December 2024, Greaves Retail, a division of Greaves Cotton Limited, launched a new range of high-performance electrified light construction equipment at Bauma CONEXPO India 2024. The equipment integrates cutting-edge electrification technologies to deliver zero-emission solutions, enhancing performance and lowering operational costs. This strategic move in the construction sector demonstrates the company's commitment to delivering innovative, reliable solutions that prioritize environmental responsibility and sustainability.

Market Segment

This study forecasts revenue at the global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the global industrial machinery market based on the below-mentioned segments:

Global Industrial Machinery Market, By Operation

• Manual Machinery
• Automated Machinery
• Robotic Machinery
• Semi-automated Machinery

Global Industrial Machinery Market, By Application

• Packaging
• Mining
• Agriculture
• Construction
• Semiconductor Manufacturing
• Food Processing
• Others

Global Industrial Machinery Market, By Distribution Channel

• Indirect Sales
• Direct Sales

Global Industrial Machinery Market, By Regional

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of the Middle East & Africa