Market Insight

August Monthly Update : Machinery Production and Industrial Automation Equipment Market

September 02, 2020  | Subscribers Only

Want to learn more?
Have an expert contact you.

For 2020, the growth rate of global machinery production (MP) and industrial automation equipment (IAE) have been revised upward by 1.2 point and 1.3 point from the Q2 tracker, to -13.6% and -8.8% respectively. With lockdown restrictions continuing to ease in most parts of the world, increased production activities have led to a gradual recovery in demand for automation equipment and machinery. Additionally, the widespread deployment of government stimulus policies and investment provides favorable conditions for the automation equipment market. Those policies will also help new machinery sales in the long run but are unlikely to affect the outlook for 2020. Omdia predicts that the decline of industrial automation products will gradually recover at a faster pace than machinery production in 2020. Machinery production is still predicted to only have a notable recovery in the second half of 2021.

Research by Market
Manufacturing Technology
Share facebook Twitter Google Plus Linked In Add This Contact Us