Continued adoption of advanced technologies, favorable government policies, and an increased focus on domestic production amid growing supply chain constraints worldwide should drive the growth of the industrial sector. The global industrial machinery market is expected to grow at a 3.5% CAGR from 2021 to 2027.
Emerson Electric Co. (EMR) and 3M Company (MMM) are two prominent players in the industrial space. EMR designs and manufactures electronic and electrical equipment, software, systems, and services. It offers products for industrial, commercial, and consumer markets worldwide through its network power, process management, industrial automation, climate technologies, and commercial and residential solutions divisions. MMM operates as a diversified technology company that operates through Safety and Industrial; Transportation and Electronics; Health Care; and Consumer segments. It offers its products through e-commerce and traditional wholesalers, retailers, jobbers, distributors, and dealers.
