$2.8bn
$XXX.Xm
4,801
734
$XXX.Xm
The industry is highly fragmented due to the diverse nature of the products, with many firms producing low quantities of specialised products. Downstream markets, like mining and manufacturing, strongly influence the industry's performance. Industry revenue is expected to grow at an annualised 3.3% over the five years through 2023-24 to $2.8 billion. This includes an expected 2.1% decline in the current year due to slow growth in downstream demand stemming from a sharp rise in interest rates.A strong performance in the industry's major market, mining, has contributed to revenue growth over the past five years. Rising capital expenditure by the private sector has supported manufacturers. Imports from manufacturers in nations like China have accounted for a high proportion of domestic demand. They are driving out local producers relying on low domestic production costs to remain profitable. Foreign manufacturing hubs typically have low labour costs and specialise in manufacturing high-quantity, standardised products. Despite rampant import competition, industry enterprise and establishments numbers have risen as domestic manufacturers dominate niche markets, creating bespoke, high-quality products.Industry revenue is forecast to fall at annualised 0.7% over the five years through 2028-29 to $2.7 billion. Mixed demand conditions in key downstream industries, like manufacturing, will likely limit revenue growth. Actual capital expenditure on mining is set to grow over the next five years, which is set to support industry growth. An anticipated appreciation of the Australian dollar over the next five years will likely reduce domestic product competitiveness, constraining export revenue. However, a continued shift towards high-value specialised manufacturing is likely to offset this decline and support an increase in profitability over the period. Import competition is slated to continue threatening industry players as developed countries continue to innovate and produce products on par with domestic manufacturers. This trend is anticipated to be an additional barrier for domestic manufacturers who have pivoted to creating high-value products.
Industry revenue has grown at a CAGR of 3.3 % over the past five years, to reach an estimated $2.8bn in 2023.
Market size is projected to decline over the next five years.
Company | Market Share (%)
2024 | Revenue ($m)
2024 |
---|---|---|
ABB | 142.4 | |
202 | 57.0 |
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Industry revenue is measured across several distinct product and services lines, including Fluid filters and water treatment equipment, Bearings and Industrial furnaces and ovens. Fluid filters and water treatment equipment is the largest segment of the Industrial Machinery Manufacturing in Australia.
Australia's mining industry has supported the growth of industrial fans
Industry firms manufacture industrial machinery, including ball or roller bearings, water treatment systems, diesel generators and industrial furnace units. The industry excludes the manufacturing of vending and gaming machines, motor vehicle engines and refrigeration equipment.
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ANZSIC 2499 - Industrial Machinery Manufacturing in Australia
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Strong performance from downstream mining firms has driven industry revenue growth over the past five years. Despite the demand for mining falling in the current year, capita...
Learn about an industry's products and services, markets and trends in international trade.
Domestic manufacturers in the industrial machinery industry face strong competition from low-cost imports, leading to a decline in their market share. To compete, they focus ...
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Industrial machinery manufacturers are predominantly located in New South Wales, Victoria, and Queensland. This is due to these states' abundant labour supply and skilled wor...
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
Australian industrial machinery manufacturers face intense competition from international trade. This is due to the drastic advantages imports have over domestic manufacturer...
Learn about the performance of the top companies in the industry.
There are currently no major players in this industry. Due to the highly diverse product segments, most industry players tend to specialise in one product, creating a highly ...
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
The industry operates under light regulation, focusing on occupational health and safety standards. Compliance with the Modern Slavery Act may be required for some industry p...
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
The industry’s profit margins have grown over the past five years. This is due to industry players specializing in niche markets and high-value products, allowing some firms ...
Including values and annual change:
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Key data sources in Australia include:
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These sources include:
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The market size of the Industrial Machinery Manufacturing industry in Australia is $2.8bn in 2024.
There are 734 businesses in the Industrial Machinery Manufacturing industry in Australia, which has grown at a CAGR of 0.4 % between 2018 and 2023.
The market size of the Industrial Machinery Manufacturing industry in Australia has been growing at a CAGR of 3.3 % between 2018 and 2023.
Over the next five years, the Industrial Machinery Manufacturing industry in Australia is expected to decline.
The biggest companies operating in the Industrial Machinery Manufacturing market in Australia are ABB and 202
Bearings manufacturing and Chemical processing machinery manufacturing are part of the Industrial Machinery Manufacturing industry.
The company holding the most market share in Australia is ABB.
The level of competition is high and steady in the Industrial Machinery Manufacturing industry in Australia.