Industrial Machinery Remanufacturing Market to record USD 304.36 Bn growth -- Driven by rising demand for increasing asset utilization in manufacturing industries

NEW YORK, Sept. 27, 2022 /PRNewswire/ -- The industrial machinery remanufacturing market size is expected to grow by USD 304.36 billion between 2021 and 2026. However, the growth momentum is expected to decelerate at a CAGR of 16.81% during the forecast period. Technavio identifies APAC as the major market for industrial machinery remanufacturing. The region will account for 39% of the global market share over the forecast period. Factors such as rapid industrialization and urbanization are creating significant opportunities for vendors operating in the region.

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The industrial machinery remanufacturing market report covers insights on major trends, key growth drivers, and challenges impacting the overall growth of the market.

Technavio analyzes the market by end-user (automotive, defense, food and beverage, aerospace, and others) and geography (APAC, North America, Europe, MEA, and South America).

The automotive industry is the prime end-user in the market. The automotive industry has a long tradition of remanufacturing. This can be attributed to the benefits associated with remanufacturing such as energy saving, raw material saving, and landfill reduction among others.

The market will observe maximum growth in APAC during the forecast period. Factors such as increasing population, economic development, and rising purchasing power of farmers are driving the growth of the regional market.

This report presents a detailed picture of the market through study, synthesis, and summation of data from multiple sources by analyzing key parameters. Know more about the scope of the report. Download PDF Report Sample

The market will be driven by the rising demand for increasing asset utilization in manufacturing industries. Industrial operators are upgrading their existing machinery and equipment to enhance efficiency, reduce operational costs, and integrate all operational functions. Besides, governments across the world are imposing stricter regulations to control energy consumption. The efficiency of industrial machinery depends on the motors used in pumps. Factors such as pump size and the operating speed of the industrial machinery should be considered while selecting pumps. These factors help in evaluating the operational functionality of pumps and selecting the most suitable model. If end-users can use pumps effectively, they can save operating costs by improving the life of industrial machinery. All these factors are expected to propel the growth of the global industrial machinery remanufacturing market during the forecast period.

The industrial machinery remanufacturing market covers the following areas:

  • Industrial Machinery Remanufacturing Market Sizing
  • Industrial Machinery Remanufacturing Market Forecast
  • Industrial Machinery Remanufacturing Market Analysis

Companies Mentioned

  • ABB Ltd.: The company offers remanufactured robots, remanufactured arm exchange, and many more.
  • Astro Machine Works Inc.: The company offers industrial machinery remanufacturing for heavy machinery, as well as pneumatic and hydraulic cylinders and CNC retrofitting tasks.
  • Caterpillar Inc.: The company offers industrial machinery remanufacturing services that provide lower-cost products, shorter downtime, and quick and dependable service options.
  • CNH Industrial NV: The company offers industrial machinery remanufacturing for camshafts, connecting rods, crankcases, crankshafts, cylinder heads, and cylinder sleeves, among others.
  • Deere and Co.: The company offers industrial machinery remanufacturing which helps in reducing downtime by providing an exchange component at optimal cost.
  • Elmas SRL
  • Exline Inc.
  • L and H Industrial Inc.
  • Lee Industrial Contracting
  • Pamco Machine Works Inc.

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Industrial Machinery Remanufacturing Market Scope

Report Coverage

Details

Page number

120

Base year

2021

Forecast period

2022-2026

Growth momentum & CAGR

Decelerate at a CAGR of 16.81%

Market growth 2022-2026

USD 304.36 billion

Market structure

Fragmented

YoY growth (%)

18.97

Regional analysis

APAC, North America, Europe, MEA, and South America

Performing market contribution

APAC at 39%

Key consumer countries

US, China, India, Germany, and UK

Competitive landscape

Leading companies, competitive strategies, consumer engagement scope

Companies profiled

ABB Ltd., Astro Machine Works Inc., Caterpillar Inc., CNH Industrial NV, Deere and Co., Elmas SRL, Exline Inc., L and H Industrial Inc., Lee Industrial Contracting, and Pamco Machine Works Inc.

Market Dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, and market condition analysis for the forecast period.

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Key Topics Covered:

1. Executive Summary                           

                1.1 Market Overview

                                Exhibit 01:  Key Finding 1

                                Exhibit 02:  Key Finding 2

                                Exhibit 03:  Key Finding 3

                                Exhibit 04:  Key Finding 5

                                Exhibit 05:  Key Finding 6

                                Exhibit 06:  Key Finding 7

                 Exhibit 07:  Key Finding 8

2. Market Landscape                             

                2.1 Market ecosystem             

                                Exhibit 08:  Parent market

                                Exhibit 09:  Market characteristics

                2.2 Value chain analysis           

                                Exhibit 10: Value chain analysis: Industrial machinery

                                2.2.1 Inputs

                                2.2.2 Inbound logistics

                                2.2.3 Operations

                                2.2.4 Outbound logistics

                                2.2.5 Marketing and sales

                                2.2.6 Aftermarket and service

 2.2.7 Innovations

3. Market Sizing                       

                3.1 Market definition

                                Exhibit 11:  Offerings of vendors included in the market definition

                3.2 Market segment analysis 

                                Exhibit 12:  Market segments

                3.3 Market size 2021 

                3.4 Market outlook: Forecast for 2021 - 2026 

                                3.4.1 Estimating growth rates for emerging and high-growth markets

                                3.4.2 Estimating growth rates for mature markets

                                Exhibit 13:  Global - Market size and forecast 2021 - 2026 ($ billion)

 Exhibit 14:  Global market: Year-over-year growth 2021 - 2026 (%)

4. Five Forces Analysis                          

                4.1 Five Forces Summary        

                                Exhibit 15:  Five forces analysis 2021 & 2026

                4.2 Bargaining power of buyers           

                                Exhibit 16: Bargaining power of buyers

                4.3 Bargaining power of suppliers       

                                Exhibit 17: Bargaining power of suppliers

                4.4 Threat of new entrants    

                                Exhibit 18: Threat of new entrants

                4.5 Threat of substitutes         

                                Exhibit 19: Threat of substitutes

                4.6 Threat of rivalry   

                                Exhibit 20: Threat of rivalry

                4.7 Market condition

                                Exhibit 21:  Market condition - Five forces 2021

5 Market Segmentation by End-user                              

                5.1 Market segments

                                Exhibit 22:  End-user - Market share 2021-2026 (%)

                5.2 Comparison by End-user  

                                Exhibit 23:  Comparison by End-user

                5.3 Automotive - Market size and forecast 2021-2026 

                                Exhibit 24:  Automotive - Market size and forecast 2021-2026 ($ billion)

                                Exhibit 25:  Automotive - Year-over-year growth 2021-2026 (%)

                5.4 Defense - Market size and forecast 2021-2026        

                                Exhibit 26:  Defense - Market size and forecast 2021-2026 ($ billion)

                                Exhibit 27:  Defense - Year-over-year growth 2021-2026 (%)

                5.5 Food and beverage - Market size and forecast 2021-2026  

                                Exhibit 28:  Food and beverage - Market size and forecast 2021-2026 ($ billion)

                                Exhibit 29:  Food and beverage - Year-over-year growth 2021-2026 (%)

                5.6 Aerospace - Market size and forecast 2021-2026    

                                Exhibit 30:  Aerospace - Market size and forecast 2021-2026 ($ billion)

                                Exhibit 31:  Aerospace - Year-over-year growth 2021-2026 (%)

                5.7 Others - Market size and forecast 2021-2026           

                                Exhibit 32:  Others - Market size and forecast 2021-2026 ($ billion)

                                Exhibit 33:  Others - Year-over-year growth 2021-2026 (%)

                5.8 Market opportunity by End-user  

                                Exhibit 34:  Market opportunity by End-user

6. Customer landscape                         

                6.1 Overview

                                Technavio's customer landscape matrix comparing Drivers or price sensitivity, Adoption lifecycle, importance in customer price basket, Adoption rate and Key purchase criteria

                                Exhibit 35: Customer landscape

7. Geographic Landscape                     

                7.1 Geographic segmentation

                                Exhibit 36:  Market share by geography 2021-2026 (%)

                7.2 Geographic comparison   

                                Exhibit 37: Geographic comparison

                7.3 APAC - Market size and forecast 2021-2026              

                                Exhibit 38:  APAC - Market size and forecast 2021-2026 ($ billion)

                                Exhibit 39:  APAC - Year-over-year growth 2021-2026 (%)

                7.4 North America - Market size and forecast 2021-2026           

                                Exhibit 40:  North America - Market size and forecast 2021-2026 ($ billion)

                                Exhibit 41:  North America - Year-over-year growth 2021-2026 (%)

                7.5 Europe - Market size and forecast 2021-2026          

                                Exhibit 42:  Europe - Market size and forecast 2021-2026 ($ billion)

                                Exhibit 43:  Europe - Year-over-year growth 2021-2026 (%)

                7.6 MEA - Market size and forecast 2021-2026               

                                Exhibit 44:  MEA - Market size and forecast 2021-2026 ($ billion)

                                Exhibit 45:  MEA - Year-over-year growth 2021-2026 (%)

                7.7 South America - Market size and forecast 2021-2026           

                                Exhibit 46:  South America - Market size and forecast 2021-2026 ($ billion)

                                Exhibit 47:  South America - Year-over-year growth 2021-2026 (%)

                7.8 Key leading countries        

                                Exhibit 48:  Key leading countries

                7.9 Market opportunity by geography

                                Exhibit 49: Market opportunity by geography

8. Drivers, Challenges, and Trends                   

                8.1 Market drivers     

                                8.1.1 Rising demand for increasing asset utilization in manufacturing industries

                                8.1.2 Increase in demand for natural food in the food & beverage segment

                                8.1.3 Rise in demand for optimization of costs at the same service level, from various organization

                8.2 Market challenges              

                                8.2.1 Competitive pricing strategy of low-cost Asian manufacturers

                                8.2.2 Intense competition among market players

                                8.2.3 Fluctuations in the prices of raw materials

                                Exhibit 50:  Impact of drivers and challenges

                8.3 Market trends      

                                8.3.1 Rising adoption of repair and remanufacture for industrial machinery

                                8.3.2 Growing adoption of Industry 4.0

                                8.3.3 Shift from on-premises to cloud-based systems

9. Vendor Landscape                             

                9.1 Overview

                                Exhibit 51: Vendor landscape

                                The potential for the disruption of the market landscape was moderate in 2020, and its threat is expected to remain unchanged by 2025. 

                9.2 Landscape disruption        

                                Exhibit 52: Landscape disruption

                                Exhibit 53: Industry risks

                9.3 Competitive Scenario        

10. Vendor Analysis               

                10.1 Vendors covered              

                                Exhibit 54: Vendors covered

                10.2 Market positioning of vendors    

                                Exhibit 55: Market positioning of vendors

                10.3 ABB Ltd.

                                Exhibit 56:  ABB Ltd. - Overview

                                Exhibit 57:  ABB Ltd. - Business segments

                                Exhibit 58:  ABB Ltd. – Key news

                                Exhibit 59:  ABB Ltd. - Key offerings

                                Exhibit 60:  ABB Ltd. - Segment focus

                10.4 Astro Machine Works Inc.             

                                Exhibit 61:  Astro Machine Works Inc. - Overview

                                Exhibit 62:  Astro Machine Works Inc. - Product and service

                                Exhibit 63:  Astro Machine Works Inc. - Key offerings

                10.5 Caterpillar Inc.   

                                Exhibit 64:  Caterpillar Inc. - Overview

                                Exhibit 65:  Caterpillar Inc. - Business segments

                                Exhibit 66:  Caterpillar Inc. - Key offerings

                                Exhibit 67:  Caterpillar Inc. - Segment focus

                10.6 CNH Industrial NV            

                                Exhibit 68:  CNH Industrial NV - Overview

                                Exhibit 69:  CNH Industrial NV - Business segments

                                Exhibit 70:  CNH Industrial NV -  Key news

                                Exhibit 71:  CNH Industrial NV - Key offerings

                                Exhibit 72:  CNH Industrial NV - Segment focus

                10.7 Deere and Co.    

                                Exhibit 73:  Deere and Co. - Overview

                                Exhibit 74:  Deere and Co. - Business segments

                                Exhibit 75:  Deere and Co. – Key news

                                Exhibit 76:  Deere and Co. - Key offerings

                                Exhibit 77:  Deere and Co. - Segment focus

                10.8 Elmas SRL             

                                Exhibit 78:  Elmas SRL - Overview

                                Exhibit 79:  Elmas SRL - Product and service

                                Exhibit 80:  Elmas SRL - Key offerings

                10.9 Exline Inc.            

                                Exhibit 81:  Exline Inc. - Overview

                                Exhibit 82:  Exline Inc. - Product and service

                                Exhibit 83:  Exline Inc. - Key offerings

                10.10 L and H Industrial Inc.   

                                Exhibit 84:  L and H Industrial Inc. - Overview

                                Exhibit 85:  L and H Industrial Inc. - Product and service

                                Exhibit 86:  L and H Industrial Inc. - Key offerings

                10.11 Lee Industrial Contracting          

                                Exhibit 87:  Lee Industrial Contracting - Overview

                                Exhibit 88:  Lee Industrial Contracting - Product and service

                                Exhibit 89:  Lee Industrial Contracting - Key offerings

                10.12 Pamco Machine Works Inc.        

                                Exhibit 90:  Pamco Machine Works Inc. - Overview

                                Exhibit 91:  Pamco Machine Works Inc. - Product and service

                                Exhibit 92:  Pamco Machine Works Inc. - Key offerings

11. Appendix                            

                11.1 Scope of the report         

                                11.1.1 Market definition

                                11.1.2 Objectives

                                Notes and caveats

                11.2 Currency conversion rates for US$            

                                Exhibit 93: Currency conversion rates for US$

                11.3 Research Methodology 

                                Exhibit 94: Research Methodology

                                Exhibit 95: Validation techniques employed for market sizing

                                Exhibit 96: Information sources

                11.4 List of abbreviations        

                                Exhibit 97: List of abbreviations

About Us

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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Email: media@technavio.com

Website: www.technavio.com/

Newsroom: newsroom.technavio.org/news/industrial-machinery-remanufacturingmarket

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