Overview and Scope
Machinery, equipment, and supplies wholesalers are an industry group comprising establishments that engage primarily in the merchant wholesale distribution of farm, industrial, and transportation machinery, equipment, supplies, and others.
Sizing and Forecast
The machinery, equipment, and supplies wholesalers market size has grown strongly in recent years. It will grow from $3429.67 billion in 2023 to $3667.21 billion in 2024 at a compound annual growth rate (CAGR) of 6.9%. The growth in the historic period can be attributed to manufacturing and industrial expansion, global trade and supply chain dynamics, construction and infrastructure development, agricultural sector requirements, government infrastructure investments..
The machinery, equipment, and supplies wholesalers market size is expected to see strong growth in the next few years. It will grow to $4756.53 billion in 2028 at a compound annual growth rate (CAGR) of 6.7%. The growth in the forecast period can be attributed to e-commerce integration and digital platforms, renewable energy and sustainability initiatives, adoption of advanced manufacturing technologies, logistics and supply chain optimization, smart agriculture and precision farming.. Major trends in the forecast period include customization and personalization in product offerings, adoption of predictive analytics for inventory management, globalization and international trade expansion, focus on after-sales services, shift towards energy-efficient and technologically advanced equipment..
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Segmentation & Regional Insights
The machinery, equipment, and supplies wholesalers market covered in this report is segmented –
1) By Operation: Autonomous, Semi-Autonomous
2) By Capacity: Small, Medium, Large
3) By Price Range: Premium, Mid-Range, Economy
4) By Ownership: Wholesale Or Distribution Chain, Independent Wholesalers
5) By Industry Vertical: Automotive, Aerospace, Construction, Food And Beverage, Energy And Power, Healthcare, Packaging
Asia-Pacific was the largest region in the machinery, equipment, and supplies wholesalers market in 2023. The regions covered in the machinery, equipment, and supplies wholesalers market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
The surging demand for customized equipment is expected to propel the growth of the machinery, equipment, and supplies wholesale market going forward. Customized equipment refers to equipment that is not readily available to the general public, and is produced to meet unique specifications requested by a business or enterprise customer. Customized equipment sale requests are the additional sale requests for the improved version of the already available original equipment version which was distributed by wholesalers in the market. Therefore, the surging demand for customized equipment is driving the growth of the machinery, equipment, and supplies wholesale market. For instance, in December 2021, according to SEMI, a US-based industry association that represents the global electronics manufacturing and design supply chain, the global sales value of dynamic random-access memory (DRAM) semiconductors (a customized semiconductor) stood at USD 15.1 billion in 2021, a 52% surge from 2020. On the other hand, the global sales value of NAND semiconductors (a customized semiconductor) is USD 19.2 billion, a 24% surge from 2020. Therefore, the surging demand for customized equipment is driving the market for wholesale machinery, equipment, and supplies wholesale market.
Key Industry Players
Major companies operating in the machinery, equipment, and supplies wholesale market are developing electric powered construction equipment to secure a competitive lead in the market. Electric-powered equipment leverage electric motors, often powered by batteries or connected to the electrical grid, to perform various tasks on construction sites. For instance, in October 2021, Volvo Construction Equipment (Volvo CE), a Sweden-based machinery manufacturing company, launched three new compact machines, including the L20 Electric wheel loader, EC18 Electric excavator, and ECR18 Electric excavator. These electric machines offer features such as emissions-free operation, noise reduction, customizable battery options, quick charging, and compatibility with Volvo’s fast chargers. Designed for manoeuvrability in tight spaces, these machines aim to enhance performance and efficiency in construction applications.
The machinery, equipment, and supplies wholesalers market report table of contents includes:
1. Executive Summary
2. Machinery, Equipment, And Supplies Wholesalers Market Characteristics
3. Machinery, Equipment, And Supplies Wholesalers Market Trends And Strategies
4. Machinery, Equipment, And Supplies Wholesalers Market – Macro Economic Scenario
5. Global Machinery, Equipment, And Supplies Wholesalers Market Size and Growth
……………………………….
31. Global Machinery, Equipment, And Supplies Wholesalers Market Competitive Benchmarking
32. Global Machinery, Equipment, And Supplies Wholesalers Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Machinery, Equipment, And Supplies Wholesalers Market
34. Machinery, Equipment, And Supplies Wholesalers Market Future Outlook and Potential Analysis
35. Appendix
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