Industrial Machinery Remanufacturing Market to record USD 304.36 Bn growth — Driven by rising demand for increasing asset utilization in manufacturing industries – QNT Press Release

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, EuropeMEA, 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 pumps 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

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