Global Machinery and Equipment Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Machinery and Equipment Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

The product scope of this report includes construction machinery, agricultural equipment, packaging equipment and plastic processing equipment.

Market Overview:

The latest research study on the global Machinery and Equipment market finds that the global Machinery and Equipment market reached a value of USD 397868.0 million in 2022. It’s expected that the market will achieve USD 567950.0 million by 2028, exhibiting a CAGR of 6.11% during the forecast period.

In 2020, the coronavirus pandemic will suddenly come, and the global economy will face severe challenges.

Affected by the coronavirus epidemic, the market demand for machinery and equipment in 2020 will be delayed, and the peak season for traditional demand will be postponed. However, with the orderly resumption of work and production in various countries/regions and industries, the impact of the epidemic has gradually eliminated. The downstream construction market demand is fully launched, and product sales are expected to gradually recover.

For example, the Chinese government coordinates the prevention and control of the epidemic and economic and social development, quickly controls the epidemic, and fully promotes the resumption of production and work. The country implements a more proactive fiscal policy and a flexible and appropriate monetary policy, and strengthens counter-cyclical adjustment policies. It is expected that the growth rate of investment in infrastructure construction will increase significantly, the demand for machinery and equipment will continue to grow, and the demand for machinery and equipment driven by the trend of replacing labor with machinery will become more obvious.

The government's investment in the development of public infrastructure continues to increase

Global infrastructure investment needs are huge. The increasing investment of governments around the world in the development of public infrastructure will directly promote the market demand for machinery and equipment. Driven by urbanization, population growth, and demand from developed and developing countries, global infrastructure demand will further increase in the future.

Increased demand for equipment updates

Affected by the government's strengthening of environmental governance, environmental protection standards have become stricter, leading to early elimination of some equipment. The demand for equipment renewal was released, and the sales of construction machinery continued to grow. The release of renewal demand may last for a period of time, becoming a driving factor for the growth of construction machinery sales in the next two years.

The risk of raw material price fluctuations

In the machinery and equipment market, price fluctuations of raw materials and parts have a direct impact on costs, which in turn affects the total operating costs of industry participants and reduces profit margins. The cost of raw materials and parts may be affected by many factors, such as market supply and demand, supplier changes, availability of alternative materials, changes in supplier production conditions, and natural disasters.

Global economic growth continues to slow down and policy risks

The machinery and equipment market is closely related to the macroeconomic situation and policies. In 2019, world trade tensions intensified and the global economic growth rate continued to slow down. At the same time, the construction machinery industry is closely related to infrastructure construction and construction industry investment. The plastic processing equipment industry is closely related to national economic policies and environmental standards. Changes in macroeconomic policies and the growth rate of fixed asset investment will affect the demand of downstream customers in the industry.

Region Overview:

Geographically, Asia Pacific held the largest market share – 34.18% in 2022.

Company Overview:

John Deere is one of the major players operating in the Machinery and Equipment market, holding a share of 10.66% in 2023.

John Deere

John Deere Company provides wholesale distribution of machinery and equipment. The Company offers backhoes, blades, brooms, compact track and wheel loaders, dozers, tractors, bunchers, mowers, cutters, shredders, excavators, skid steers, and snow removal equipment. John Deere serves customers worldwide.

Caterpillar

Caterpillar Inc. designs, manufactures, and markets construction, mining, and forestry machinery. The Company also manufactures engines and other related parts for its equipment, and offers financing and insurance. Caterpillar distributes its products through a worldwide organization of dealers.

Segmentation Overview:

As for product types, the Agricultural Equipment segment held the largest market share in 2022.

Application Overview:

In the Machinery and Equipment market, 41.32% of the total value was generated through the Agriculture segment by application in 2022.

Key Companies in the global Machinery and Equipment market covered in Chapter 3:

CNH Industrial
Liebherr
JLG
Caterpillar
Komatsu
Doosan Infracore
Metso
XCMG
Zoomlion
Hitachi Construction Machinery
JCB
John Deere
Kobelco Construction Machinery
Sany
Hyundai Heavy Industries
Volvo Construction Equipment

In Chapter 4 and Chapter 14.2, on the basis of types, the Machinery and Equipment market from 2018 to 2029 is primarily split into:

Construction Machinery
Agricultural Equipment
Packaging Equipment
Plastic Processing Equipment

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Machinery and Equipment market from 2018 to 2029 covers:

Agriculture
Industry
Manufacturing
Others

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)