The Industrial Goods sector, also known as the Industrial sector, encompasses many industries involved in the production and distribution of goods used for various industrial purposes. This sector plays a significant role in the global economy and caters to businesses that manufacture heavy machinery, equipment, and components used in construction, manufacturing, energy production, and other industrial processes.
Building materials such as cement, concrete, bricks, tiles, and stone are provided to the construction sector by the industrial goods sector. Many other industrial markets such as aerospace, defense, and transportation infrastructure depend on this sector for raw materials. Many new technologies and solutions have been introduced to the sector for automation, improving efficiency, and reducing downtime. Industrial goods companies around the world are now increasingly depending on digital technologies such as AI and data analytics.
The global industrial goods sector has seen steady growth over the years. The sales of the industry grew at a compound annual rate of 4% between 2010 and 2019. The sales of industrial products are expected to grow by 5% from 2019 to 2030. In 2022, the industry that experienced the biggest growth was the automotive industry. Massive growth was also seen in emerging markets such as Latin America, the Caribbean, Asia, and Oceania in 2022.
In terms of segments, the industrial goods sector highly depends on aerospace, defense, industrial machinery, lumber production, construction, waste management, cement and metal fabrication, housing, and electric equipment. The supply and demand in the sector are also influenced by the real estate market, particularly for residential and commercial projects. The biggest players in the industrial goods market are China, the U.S., Germany, South Korea, Japan, Italy, and France.
The Industrial Goods sector plays a critical role in the global economy and caters to some of the world’s most important markets. Each year a wide range of trade shows are held to exhibit the latest technologies in various industry-based markets such as construction, electric equipment, aerospace, defense, packaging, transportation, etc. Here are a few important trade shows to discover the latest technologies and solutions in the industrial sector:
Hannover Messe: One of the largest and busiest international trade shows for the entire manufacturing industry. The event serves as a hotspot for industrial transformation with a wide array of innovative and unique products. Important stakeholders including buyers, suppliers, investors, distributors, and contractors join the show to showcase the latest technologies. The event is held in Hannover at Deutsche Messe.
FIB International Industrial Trade Fair of Bogota: A reputable annual industrial fair in Bogota, Spain that aims to bring new and improved technologies and solutions for all the major industries of the world. 14 countries participate in the event from Latin America, Europe, Asia, and the Caribbean. The exhibition serves as an ideal platform to discover new technologies in industrial machinery, raw materials, capital, intermediate goods, etc.
Global Industrie: A revolutionary trade show in the industrial sector known as one of the biggest fairs in Europe. The event offers 15 product zones, each showcasing the latest innovations in digitalization, electronics, 3D printing, plastics, robots, and many more industrial-based markets. It is a comprehensive event facilitating the entire community of industrial goods under one roof and having important conversations related to industrial growth.
The Industrial Goods sector is a crucial sector for many major industries around the world. It provides capital goods such as industrial machinery, tools, and equipment to process and manufacture finished goods. It caters to a wide range of sectors such as real estate, electrical equipment, aerospace and defense, transportation and infrastructure, railroads, packaging goods, etc. These and many more sectors participate in important trade events and showcase the latest product innovations.