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Economic and technological development was driven by manufacturing machinery, which sparked the industrial revolution. Industry-produced machines and parts, such as industrial turbines and mining equipment, are used in other industries. In addition to providing highly specialized equipment, the industrial equipment manufacturing industry also includes maintenance and repair services to a wide array of industries. Agriculture, medical, computer, software, and transportation equipment investments have increased in recent years. The industry has seen several significant trends over the past few years. Equipment needs to be replaced because of ageing, which has become a significant factor in equipment acquisition. Organizations want to improve operational efficiencies and drive down expenses while developing innovative technologies.

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