Companies in this industry manufacture various kinds of machinery used in agriculture, mining, construction, or manufacturing. Major companies include Applied Materials, Caterpillar, Deere, divisions of General Electric, Halliburton, and Kennametal (all based in the US), along with Canon (Japan), CNH Industrial (UK), Mitsubishi Heavy Industries (Japan), Sandvik (Sweden), Sany Heavy Industry (China), and Tetra Laval International (Switzerland).
Amid slow overall economic growth, low commodities prices, and geopolitical uncertainty, machinery manufacturers and their customers are focused on increasing productivity. Machinery manufacturers can improve competitiveness by investing in products and services that leverage connectivity and data to forge more collaborative and lucrative relationships with customers. To that end, many machinery manufacturers are developing connected products that collect and analyze operational data which helps customers cut operating costs, predict machinery maintenance requirements, and increase efficiency.
PRODUCTS, OPERATIONS & TECHNOLOGY
Major products are farm and construction machinery, metalworking and other manufacturing machinery, HVAC and commercial refrigeration equipment, and general-use machinery such as engines and pumps. While some products, such as tractors or heaters, are finished products, others, like motors, are components used in further production, and some, like textile looms, are custom-designed for a particular manufacturing process.