Industrial Manufacturing: Introduction
The industrial manufacturing industry is responsible for the growth of many other industries. The development of many kinds of machinery is what ultimately led to the industrial revolution. The output of this industry includes all kinds of machinery, from farm and factory equipment, to smaller machinery used in many households, as well as smaller industrial products such as hardware, glass, and paper products.
The Industrial Manufacturing industry is Fairly Fragmented. The production in this industry is divided among several different companies, no single firm has large enough share of the market to be able to influence the industry's direction or price levels.
Primary Demand Drivers
- Economic health of domestic country
- Calls for corporate accountability to increase machinery safety
- Focusing on engineering expertise
- Operating production efficiently
- Increasing core product lines
- Expanding geographical reach
- Afterservice maket - increasing customers desire to invest in new equipment