Machinery And Equipment

Machinery and Equipment

The machinery and equipment industry originated with the beginning of industrial age as various industries generated the demand for various kind of equipment and machinery to ease their manufacturing process. For instance, with the dawn of the automotive industry, the demand for metal fabrication machines gained traction. Earlier in the automotive industry, the metal fabrication was a labor-intensive job, but with the advent of hydraulic press brake machines, the industry dismissed human labor and replaced them with these machines. With time machinery and equipment has gained more speed, accuracy, sophisticated and has become more powerful. The machinery and equipment industry are quite broad and includes companies and manufacturers playing in the verticals such as engine & turbines, fluid power equipment, bearings & gears, lifting and handling equipment, metalworking and fabrication metal machinery, industrial machinery, power-driven hand tools and food manufacturing equipment among others. The factors for the industry’s growth can be attributed to influences such as integrating and automating large or entire manufacturing process, reducing injury to the human workforce in areas where the task is dangerous such as chemical handling and to reduce the cost associated with the human workforce. The machinery and equipment industry are highly dependent upon their supplementary industry such as a CNC machine manufacturer cannot book new sales if its parent automotive industry is in a slump. These dependencies imply that the machinery and equipment industry players must have scalable, highly efficient business which needs a statutory financial backup.