The engineering sector is the largest segment of the overall global industrial sector. The important groups within the engineering industry include machinery & instruments, primary and semi finished iron & steel, steel bars & rods, non-ferrous metals, electronic goods and project exports.The sector can be categorized into heavy engineering and light engineering segments. Heavy engineering segment forms the majority of the engineering sector worldwide. The industry has managed to successfully develop advanced manufacturing technology over the years. Among the developing countries, general and heavy engineering industry seeks a huge growth potential. The bulk of capital goods required for power projects, fertilizer, cement, steel and petrochemical plants and mining equipment, construction machinery, equipment for irrigation projects, diesel engines, tractors, transport vehicles, cotton textile and sugar mill machinery are made in developing countries to cater the worldwide demand.

The user industries of engineering products and services include power utilities, industrial majors (refining, automotive and textiles), government (public investment) and retail consumers (pumps and motors). Thus, the performance of the engineering sector is linked to the industry which in turns depends on the overall economy. Capacity creation in sectors like infrastructure, power, mining, oil & gas, refinery, steel, automotive, consumer durables drives the general and heavy engineering industry.

This vertical offers businesses with an extensive pool of market data that serve as blueprints ranging from market sizes, revenue forecasts, value chain, market and product trends, price trends and regulations, competitive landscape, leading players, their key developments, strategy and profile. MarketsandMarkets offers a 360 degree in-depth analysis of the industry; allowing companies to access insights for strategizing, planning and execution.

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The engineering sector is the largest segment of the overall global industrial sector. The important groups within the engineering industry include machinery & instruments, primary and semi finished iron & steel, steel bars & rods, non-ferrous metals ....see more