The machinery and equipment industry consists of establishments involved in producing compressors and pumps, roll mills, steam generators, forest machinery, agricultural and mining equipment and many more. These machines and equipments are manufactured in machine factories, welding plants, foundry shops and assembly workshops.
The machinery and equipment industry consists of establishments involved in producing compressors and pumps, roll mills, steam generators, forest machinery, agricultural and mining equipment and many more. These machines and equipments are manufactured in machine factories, welding plants, foundry shops and assembly workshops. Currently the global machinery and equipment industry has set out on the course to development, due to the wide industrial development far and near. In the years ahead, machinery and equipment industry are going to continuously grow in demand driven by the growing customer sectors, particularly construction and agriculture.
The equipment industry particularly manufactures tools and implements specially designed to perform a particular task and it also serves many industries such as construction engineering, quarrying and mining, agriculture, energy and etc. Equipment manufacturers are always in touch with the level o demand and supply the required items to shorten production hours as well as to ensure intensified service delivery.
Machinery can be defined as any device that does work using electrical or mechanical energy. Machines make use of power and energy and transform in its direction and magnitude and offer useful work. The machinery industry too supplies machinery to various sectors in the country such as infrastructure and transportation, mining, construction, turbines, airfoils, energy are a few to name. The dawn of information technology and electronics has led to the emergence of innumerable devices and products without any mechanical work such devices include integrated circuit in computers, radio, television, lasers and many other industrial tools that use electromagnetic radiation and electricity. The major markets for machinery are the Middle East, North America, Europe and Asia. Companies involved in this sector manufacture tractors, compressors, engines, cranes and many more.
Machinery is also important in the operations of printing paper, textile, pharmaceuticals, chemical, automotive, shipping and transportation industries.
The Unites States is among the leading countries in the world which supplies capital equipment and machinery to developing countries like Asia, India China, Indonesia, Vietnam, Brazil, Russia, Turkey, Latin America, Middle East and many other places. It has been estimated that India’s output will increase to 100 billion by the year 2022. Currently India’s Indian equipment industry is worth about 24 billion. Over the past seven years the market has expanded to about 10.5 per cent. India’s export in equipment and machinery sector has increased to 14.8 per cent and has touched 4.9 billion over the last eight years.