Top 50 Companies in Industrial Machinery Market: Statistics Report Till 2035
RELEASE DATE: Aug 2025 Author: Spherical InsightsRequest Free Sample Speak to Analyst
Description
According to a research report published by Spherical Insights & Consulting, The Global Industrial Machinery Market Size is projected to Grow from USD 713.87 Billion in 2024 to USD 1825.23 Billion by 2035, at a CAGR of 8.91% during the forecast period 2025–2035. The market for industrial machineries is in greater demand driven by technological advancements, increased automation, and rising demand across various sectors. Key factors fueling this expansion include the adoption of smart technologies like IoT and AI, the need for energy-efficient machinery, and the push for digitalization in manufacturing.
Introduction
The Global Industrial Machinery Market refers to the industry that designs, manufactures, and distributes machines used in industrial operations across sectors such as manufacturing, construction, mining, agriculture, energy, and packaging. It encompasses a wide range of equipment including machine tools, heavy construction machinery, material handling systems, and automation solutions. Additionally, it supports the production of ships, automobiles and airplanes. Improvements in manufacturing speed, quality, and quantity burgh forth by technological improvements have increased profiteer and profitability. Industrial machinery comprises a variety of tools built for certain purposes, allowing for the quick, effective, and reliable manufacturing of goods of governor quality. To maximize the output and promote productivity and efficiency, it includes state -of -the -art techniques. 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 growth production increases effectiveness, reduce human error, and increase the caliber of final objects.
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Industrial Machinery Market Size & Statistics
The Market Size for Industrial Machinery Was estimated to be worth USD 713.87 Billion in 2024.
The Market Size is going to Expand at a CAGR of 8.91% between 2025 and 2035.
The Global Industrial Machinery Market Size is anticipated to reach USD 1825.23 Billion by 2035.
North America is expected to generate the highest demand during the forecast period in the Industrial Machinery Market
Asia Pacific is expected to grow the fastest during the forecast period in the Industrial Machinery Market.
Regional growth and demand
Asia Pacific is expected to grow the fastest during the forecast period in the industrial machinery market. The market for industrial machinery in the Asia-Pacific region is expanding rapidly as a result of infrastructure, industrialization and technology. Nations like China, India and Southeast Asia are taking significant expansion, which is increasing demand for machinery in various industries. Heavy machinery and construction requirement is being operated by government initiatives such as smart city projects and industrial corridors. Automation, Robot and Internet of Things-Inebled equipment are examples of technological progresses that are bringing revolution in manufacturing processes and increasing productivity. Opportunities for machinery manufacturers are being created by significant investment in the manufacturing capacity of emerging economies of the field. China's industrialization and urbanization are increasing the demand for machinery in areas such as electronics and automobiles, and stability trends are becoming more popular. China's competition in both domestic and international markets is its highly educated and faster by affordable workers.
North America is expected to generate the highest demand during the forecast period in the industrial machinery market. Consumers require the need for privatization, expansion of e-commerce, and manufacturing globalization of the industrial machinery markets. The global supply chain integration is increasing the demand for sophisticated machinery, especially automated systems. Innovation and change of industrial processes in machinery are being fueling by adopting industry 4.0 practices, such as robotics and IOTs. Manufacturers of machinery can increase their footprints in emerging markets in underdeveloped countries. The demand for adjustable manufacturing systems to create individual goods is running in flexible equipment. Due to its many big 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.
Top 10 trends in the Industrial Machinery Market
- Artificial Intelligence (AI) and Machine Learning
- Robotics and Automation
- Industrial Internet of Things (IIoT)
- Digital Twins
- Sustainability and Energy Efficiency
- Additive Manufacturing (3D Printing)
- Cybersecurity
- Edge Computing
- Extended Reality (AR/VR)
- Servitization
1. Artificial Intelligence (AI) and Machine Learning
AI is being integrated into various aspects of industrial machinery, from predictive maintenance and process optimization to quality control and robotic control systems.
2. Robotics and Automation
The adoption of robots, including collaborative robots (cobots), is increasing, leading to greater automation of tasks and improved productivity.
3. Industrial Internet of Things (IIoT)
IIoT enables connectivity and data exchange between machines, sensors, and systems, facilitating real-time monitoring, control, and data-driven decision-making.
4. Sustainability and Energy Efficiency
Growing environmental concerns are driving the demand for energy-efficient machinery and sustainable manufacturing practices.
5. Digital Twins
Digital twins create virtual replicas of physical assets, enabling simulation, analysis, and optimization of machinery and processes before implementation in the real world.
Empower your strategic planning:
Stay informed with the latest industry insights and market trends to identify new opportunities and drive growth in the Industrial Machinery market. To explore more in-depth trends, insights, and forecasts, please refer to our detailed report.
Top 10 Companies Leading the Industrial Machinery Market
- Cummins India Ltd
- THERMAX
- AIA Engineering LtdAIAENG
- SKF India LtdSKFINDIA
- Timken India Ltd
- Jyoti CNC Automation Ltd
- Craftsman Automation Ltd
- Grindwell Norton Ltd
- LMW Ltd
- Ingersoll Rand
- Others
1. Cummins India Ltd
Headquarters: Pune, Maharashtra, India
Cummins India Ltd. is a prominent player in the industrial machinery market, particularly in the manufacturing of diesel and natural gas engines and power generator sets. They hold a significant market share, especially in diesel engines and gensets, and are known for their high-value, high-HP generator sets. The company is a subsidiary of Cummins Inc. and operates through three business units: Engine, Power Systems, and Distribution.
2. THERMAX
Headquarters: Pune, India
Thermax is a significant player in the industrial machinery market, particularly in energy and environment solutions. They offer a wide range of products and services, including boilers, chillers, air pollution control systems, and water and wastewater treatment solutions. Thermax also provides operation and maintenance (O&M) services for industrial utilities. Their focus is on helping industries improve resource productivity and environmental sustainability.
3. AIA Engineering Ltd AIAENG
Headquarters: India
The company manufactures various sizes of high chrome grinding media balls, which are components of mill internals used in the crushing and grinding processes in the cement, mining, and thermal power industries. The company employs a casting process to produce these products. It is the worlds. Market Cap RS 29,415 Cr.
4. SKF India Ltd SKFINDIA
Headquarters: India
SKF India Ltd. is a significant player in the Indian industrial machinery market, particularly known for its bearings, seals, lubrication systems, mechatronics, and related services. The company leverages its five technology platforms (bearings and units, seals, mechatronics, lubrication solutions, and services) to offer engineered solutions across various industries, including automotive and industrial sectors. SKF India has a strong presence in India with multiple manufacturing facilities, offices, and a wide distribution network.
Are you ready to discover more about the industrial machinery market?
The report provides an in-depth analysis of the leading companies operating in the global Industrial Machinery market. It includes a comparative assessment based on their product portfolios, business overviews, geographical footprint, strategic initiatives, market segment share, and SWOT analysis. Each company is profiled using a standardized format that includes:
Company Profiles
- Cummins India
- Business Overview
- Company Snapshot
- Products Overview
- Company Market Share Analysis
- Company Coverage Portfolio
- Financial Analysis
- Recent Developments
- Merger and Acquisitions
- SWOT Analysis
- THERMAX
- AIA Engineering LtdAIAENG
- SKF India LtdSKFINDIA
- Timken India Ltd
- Jyoti CNC Automation Ltd
- Craftsman Automation Ltd
- Grindwell Norton Ltd
- LMW Ltd
- Ingersoll Rand
- Others.
Conclusion
The global industrial machinery has been designed for adequate increase in the market, which is estimated in 2024 from USD 713.87 billion to USD 1825.23 billion to about triple from 2035, which is run by rapid industrialization, automation and technological progresses. Major trends such as AI, IOT, robotics, digital twins and sustainable construction practices are re -shaping the region, which can enable more efficiency, productivity and environmental compliance. As the Asia Pacific emergence as the fastest growing field due to infrastructure and industrial expansion, and North America innovations and adoption of industry 4.0 presents important opportunities for market manufacturers and investors. Leading companies like Cummins India, Thermax, AIA Engineering and SKF India are taking advantage of innovation, strong product portfolio and global footprints to strengthen their competitive positions. Overall, the industrial machinery industry will remain an important driver of global infrastructure and economic development, providing immense opportunities for businesses that embrace digitization and smart technologies.
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