Australian machinery for metallurgy market growth driven by demand for technological innovations within the metal industry
Machinery for Metallurgy in Australia: ISIC 2923 - a new market research report on companiesandmarkets.com
PR-Inside.com: 2014-04-01 19:03:01
The Australian machinery for metallurgy market is growing together with improving demand for technological innovations within the metal industry. Total market value increased by 83% over 2000-2010, amounting to A$427million by the end of the latter year. Demand growth peaked in2008, when it grew by 24%.
It was mostly influenced by soaring construction and automobile industries, which demanded huge quantities of processed metal products, hence boosting demand for machinery for metallurgy. Overall, business to business consumers accounted for a 45% share of total market sales in 2010.
Throughout the review period the market increased faster than the overall Australian economy, indicating that the market is still in its growth phase. In the meantime, 55% of machinery was bought by businesses for investment purposes.
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