Last Updated: 23 Jul 2025
Source: Statifacts
Industrial Equipment and Machinery Market (By Application: Pumps & Valves, Compressors, Heavy Machinery Components, Others; By Region: North America, Europe, Asia Pacific, Latin America, Middle East and Africa) Industry Size, Share, Growth, Trends 2026 to 2035.
The global industrial equipment and machinery market size was estimated at USD 95.86 billion in 2025 and is projected to be worth around USD 171.74 billion by 2035, growing at a CAGR of 6.00% from 2026 to 2035.
| Industry Worth | Details |
| Market Size in 2026 | USD 102.22 Billion |
| Market Size by 2035 | USD 171.74 Billion |
| Market Growth Rate from 2026 to 2035 | CAGR of 6.00% |
The industrial equipment and machinery market encompasses production, sales, repair, and maintenance of machinery and equipment used within a variety of industries. These include engines, powertrains, hydraulic systems, automation tools, and control technologies. Owing to rapid industrialization and automation, along with the integration of revolutionizing technologies such as AI, IoT, and 3D printing, there has been steady progress in the market. These technologies promote operational efficiency while also reducing costs and supporting smart manufacturing. Demand is being propelled by government initiatives such as "Make in India," while energy-efficient and sustainable approaches to machine-building are being called for. There lies in front of this industry serious potential for transformation and growth-great growth, wherein innovation, customization, and integration of intelligent, data-driven systems will all have their hand in shaping the future.
Sales report of Komatsu, a Japanese company specializing in construction, mining, and forestry equipment.
Sales report of Cummins: A global power technology leader, Cummins designs, manufactures, and distributes engines, power generation equipment, and related technologies.
Industrial equipment and machinery markets, from production lines to the actual output, are in the throes of an industrial transformation implemented by areas such as efficiency, predictive maintenance, quality control, cost reduction, etc. It is meant to take care of monotony, maximize the use of resources, or smooth workflow. Artificial intelligence-based vision systems catch defects in real time for the purpose of maximum quality control. Insights derived from the dataset are the basis for process enhancement and decision-making improvement. Safety is ensured via automated procedures, while the dangerously hard jobs are taken over by robots. Price reduction mechanism: lower human labor costs, reduced machine maintenance costs, and reduced material wastage costs. Through AI, manufacturers are empowered to be intelligent rather than doltish, safe rather than unsafe, and efficient rather than inefficient-manufacturing worthy of quality outputs.
What are the Major Market Drivers in the Industrial Equipment and Machinery Market?
The major market drivers in the industrial equipment and machinery market are technological advancements, increasing automation, and the growing emphasis on energy efficiency. Additionally, the "Make in India" campaign and government investments in infrastructure and renewable energy are further fueling the demand for industrial equipment.
The industrial equipment and machinery market experiences growth restraints due to factors such as high initial investment costs, skilled labor shortages, and fluctuating raw material prices.
Growth opportunities in the industrial equipment and machinery market are linked to the integration of the latest advances, such as collaborative robots, a focus on sustainability, etc.
“The new unit will directly employ 800 people in its initial phase and will support sectors such as electric vehicles, data centres, renewable energy, battery storage, and general manufacturing. “This plant will contribute to local production, strengthen research and development, and improve supply chain stability.”
“Bharat Construction Equipment Expo 2025 provides a unique platform for us to showcase our latest innovations and reaffirm our commitment to driving progress in the construction equipment sector. With our new CEV-5 compliant machines and advanced technology solutions, we aim to empower businesses with tools that are efficient, sustainable, and reliable.
The heavy machinery components segment encompasses engines, powertrains, hydraulic systems, electronic components, bearings, gears, frames, and axles, which led the market in 2024, because they are very essential for large-scale industrial operations. Essential factors of the performance, efficiency, and durability of heavy equipment are components used in construction, mining, and manufacturing. Infrastructure development has created a demand for durable, state-of-the-art components. Investments pertaining to automation and energy-efficient solutions have forced manufacturers to install smarter, more precise components within upgraded machinery. Advancements in bearings, gears, and frames assure that these machines operate in adverse environments and undertake heavy work. Essentially, this segment of heavy machinery components is crucial to industrial development.
The others (agricultural equipment, etc) segment is expected to grow at the fastest rate during the forecast period in the industrial equipment and machinery market. This is due to the global rise in food demand and the advent of modern farming, the "others" segment of agricultural equipment is witnessing the fastest growth. This category includes machinery in planting and crop processing, irrigation systems, hay and forage, and special implements. Such machines are necessary to increase agricultural productivity, especially in areas with variable farm conditions. Other demand factors include precision agriculture adoption, climate variability, and the scale of farm operations. The "others" category is witnessing tremendous changes with the integration of technological advancements that include the use of GPS and sensor-based automation, and is currently one of the fastest-growing segments in the broader industrial machinery market.
The industrial machinery is favored by North America for its strong manufacturing base, advanced technology, and infrastructure. The center of many major manufacturers and innovators in the region further pushes product development and sustains competitive advantages. With a well-established supply chain and distribution network, volumes of machinery are always produced for one sector or another. Being majorly industrialized, North America witnesses demand from the automotive, aerospace, and construction industries for high-performance, highly precise equipment. Moreover, market growth is supported by government incentives and the use of advanced technologies such as IoT, AI, and Industry 4.0 practices. This market is well integrated with a skilled technical workforce capable of further technological advancement to ensure the efficiency of operations, thus giving the industrial machinery of North America a leading crown on the international stage.
The Asia Pacific industrial machinery market is witnessing growth at a fast pace due to industrialization processes and developing infrastructure projects, and manufacturing automation investments. Manufacturing centres in the region are developing high-quality machinery for property and export purposes. The market further gets a boost from an abundant labor force, improved technical education, and global players in machinery manufacturing. Policies promoting domestic production, export incentives, and public-private collaborations are the big pluses to this market. With its ever-growing domestic market and cooperation with world technology leaders, China is positioned as a major force in the Asia Pacific industrial machinery market and is, therefore, influencing global competitiveness.
The market is moderately fragmented, with local players such as Caterpillar, Komatsu, John Deere, Cummins, ABB, and Thermax, among others, seeking to expand their presence through investments, partnerships, acquisitions, and mergers. They also invest in product development and competitive pricing. These strategies will promote market growth and lucrative opportunities for market players
John Deere's most recent annual revenue, for the fiscal year ending in October 2024, was approximately $51.72 billion. This represents a 15.57% decrease compared to the previous year.
ABB's most recent annual revenue for 2024 was $32.85 billion, representing a 1.91% increase from the previous year. The company's revenue for the twelve months ending March 31, 2025, was $32.915 billion, reflecting a 2.07% year-over-year increase.
Komatsu's annual revenue for the year ended March 31, 2024, was approximately USD 26.669 billion, representing a 1.71% increase from the previous year.
| Regions | Shares (%) |
| North America | 25.17% |
| Asia Pacific | 32.92% |
| Europe | 21.54% |
| LAMEA | 20.37% |
| Segments | Shares (%) |
| Pumps & Valves | 25.57% |
| Compressors | 24.81% |
| Heavy Machinery Components | 27.16% |
| Others | 22.46% |
