Machine Industrial

8/6/2019 Machine Industrial

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Global - Industrial Machinery 0199 - 2084 - 2010

Datamonitor. This profile is a licensed product and is not to be photocopied Page 1

INDUSTRY PROFILE

Global Industrial Machinery

Reference Code: 0199-2084

Publication Date: May 2011


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EXECUTIVE SUMMARY



EXECUTIVE SUMMARY

Market value

The global industrial machinery market grew by 3.4% in 2010 to reach a value of $363.1 billion.

Market value forecast

In 2015, the global industrial machinery market is forecast to have a value of $449.4 billion, an increase of

23.8% since 2010.

Market segmentation I

Engine, turbine and related is the largest segment of the global industrial machinery market, accounting

for 36.5% of the market's total value.

Market segmentation II

Americas accounts for 37.2% of the global industrial machinery market value.

Market share

Mitsubishi Heavy Industries, Ltd. is the leading player in the global industrial machinery market,

generating a 7.1% share of the market's value.

Market rivalry

The improving market eases competition slightly which makes rivalry moderate. The market is highly

fragmented with the top four market players holding just under 12% of the total market value.


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CONTENTS



TABLE OF CONTENTS

EXECUTIVE SUMMARY 2

MARKET OVERVIEW 6

Market definition 6

Research highlights 7

Market analysis 8

MARKET VALUE 9

MARKET SEGMENTATION I 10

MARKET SEGMENTATION II 11

MARKET SHARE 12

COMPETITIVE LANDSCAPE 13

LEADING COMPANIES 15

IHI Corporation 15

Kawasaki Heavy Industries, Ltd. 19

MAN SE 24

Mitsubishi Heavy Industries, Ltd. 28

MARKET FORECASTS 32

Market value forecast 32

APPENDIX 33

Methodology 33

Industry associations 34

Related Datamonitor research 34

Disclaimer 35

ABOUT DATAMONITOR 36

Premium Reports 36

Summary Reports 36

Datamonitor consulting 36


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CONTENTS



LIST OF TABLES

Table 1: Global industrial machinery market value: $ billion, 200610 9

Table 2: Global industrial machinery market segmentation I:% share, by value, 2010 10

Table 3: Global industrial machinery market segmentation II: % share, by value, 2010 11

Table 4: Global industrial machinery market share: % share, by value, 2010 12

Table 5: IHI Corporation: key facts 15

Table 6: IHI Corporation: key financials ($) 16

Table 7: IHI Corporation: key financials () 17

Table 8: IHI Corporation: key financial ratios 17

Table 9: Kawasaki Heavy Industries, Ltd.: key facts 19

Table 10:

Kawasaki Heavy Industries, Ltd.: key financials ($) 21

Table 11: Kawasaki Heavy Industries, Ltd.: key financials () 21

Table 12: Kawasaki Heavy Industries, Ltd.: key financial ratios 22

Table 13: MAN SE: key facts 24

Table 14: MAN SE: key financials ($) 25

Table 15: MAN SE: key financials () 26

Table 16: MAN SE: key financial ratios 26

Table 17: Mitsubishi Heavy Industries, Ltd.: key facts 28

Table 18: Mitsubishi Heavy Industries, Ltd.: key financials ($) 29

Table 19: Mitsubishi Heavy Industries, Ltd.: key financials () 30

Table 20: Mitsubishi Heavy Industries, Ltd.: key financial ratios 30

Table 21: Global industrial machinery market value forecast: $ billion, 201015 32


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CONTENTS



LIST OF FIGURES

Figure 1: Global industrial machinery market value: $ billion, 200610 9

Figure 2: Global industrial machinery market segmentation I:% share, by value, 2010 10

Figure 3: Global industrial machinery market segmentation II: % share, by value, 2010 11

Figure 4: Global industrial machinery market share: % share, by value, 2010 12

Figure 5: IHI Corporation: revenues & profitability 18

Figure 6: IHI Corporation: assets & liabilities 18

Figure 7: Kawasaki Heavy Industries, Ltd.: revenues & profitability 22

Figure 8: Kawasaki Heavy Industries, Ltd.: assets & liabilities 23

Figure 9: MAN SE: revenues & profitability 27

Figure 10:

MAN SE: assets & liabilities 27

Figure 11: Mitsubishi Heavy Industries, Ltd.: revenues & profitability 31

Figure 12: Mitsubishi Heavy Industries, Ltd.: assets & liabilities 31

Figure 13: Global industrial machinery market value forecast: $ billion, 201015 32


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MARKET OVERVIEW



MARKET OVERVIEW

Market definition

The value of the global industrial machinery market is calculated from the revenues accrued bymanufacturers of industrial machinery and industrial components. The market includes companies that

manufacture industrial machinery, metalworking machinery, engine, turbine and power transmission

equipment and other general purpose machinery. All currency conversions are carried out at constant

average annual 2010 exchange rates.

For the purposes of this report, the global market consists of North America, South America, Western

Europe, Eastern Europe, MEA, and Asia-Pacific.

North America consists of Canada, Mexico, and the United States.

South America comprises Argentina, Brazil, Chile, Colombia, and Venezuela.

Western Europe comprises Belgium, Denmark, France, Germany, Greece, Italy, the Netherlands,Norway, Spain, Sweden, Switzerland, Turkey, and the United Kingdom.

Eastern Europe comprises the Czech Republic, Hungary, Poland, Romania, Russia, and Ukraine.

Asia-Pacific comprises Australia, China, India, Indonesia, Japan, New Zealand, Singapore, South Korea,

Taiwan, and Thailand.

Middle East-Africa (MEA) comprises Egypt, Israel, Nigeria, Saudi Arabia, South Africa, and United Arab

Emirates.


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MARKET OVERVIEW



Research highlights

The global industrial machinery market is forecast to generate total revenue of $363 billion in 2010,

representing a compound annual rate of change (CARC) of -1.6% for the period spanning 2006-2010.

Engine, turbine and related sales proved the most lucrative for the global industrial machinery market in

2010, with total revenues of $132.3 billion, equivalent to 36.5% of the market's overall value.

The performance of the market is forecast to accelerate, with an anticipated compound annual growth

rate (CAGR) of 4.4% for the five-year period 2010-2015, which is expected to drive the market to a value

of $449.4 billion by the end of 2015.


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MARKET OVERVIEW



Market analysis

The global industrial machinery market has performed well over recent years, with the exception of 2009

when the market fell into double digit decline. The market rebounded in 2010 and a phase of recovery is

anticipated to continue, with moderate growth forecast up to and including 2015.

The global industrial machinery market is forecast to generate total revenue of $363 billion in 2010,

representing a compound annual rate of change (CARC) of -1.6% for the period spanning 2006-2010. In

comparison, the European industry and the Asia-Pacific industry will reach respective values of $99.4

billion and $120.6 billion in 2010.

Engine, turbine and related sales proved the most lucrative for the global industrial machinery market in

2010, with total revenues of $132.3 billion, equivalent to 36.5% of the market's overall value. In

comparison, sales of wood and plastics processing generated revenues of $91.6 billion in 2010, equating

to 25.2% of the market's aggregate revenues.

The performance of the market is forecast to accelerate, with an anticipated compound annual growthrate (CAGR) of 4.4% for the five-year period 2010-2015, which is expected to drive the market to a value

of $449.4 billion by the end of 2015.


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MARKET VALUE



MARKET VALUE

The global industrial machinery market grew by 3.4% in 2010 to reach a value of $363.1 billion.

The compound annual rate of change of the market in the period 200610 was -1.6%.

Table 1: Global industrial machinery market value: $ billion, 200610

Year $ billion billion % Growth

2006 386.8 291.3

2007 387.7 292.0 0.2%

2008 394.5 297.1 1.7%

2009 351.2 264.5 (11.0%)

2010 363.1 273.4 3.4%

CAGR: 200610 (1.6%)

Source: Datamonitor D A T A M O N I T O R

Figure 1: Global industrial machinery market value: $ billion, 200610



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MARKET SEGMENTATION I



MARKET SEGMENTATION I

Engine, turbine and related is the largest segment of the global industrial machinery market, accounting

for 36.5% of the market's total value.

The wood and plastics processing segment accounts for a further 25.2% of the market.

Table 2: Global industrial machinery market segmentation I:% share, by value, 2010

Category % Share

Engine, turbine and related 36.5%

Wood and plastics processing 25.2%

Metalworking 22.6%

Other purpose 15.7%

Total 100%


Figure 2: Global industrial machinery market segmentation I:% share, by value, 2010



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MARKET SEGMENTATION II



MARKET SEGMENTATION II

Americas accounts for 37.2% of the global industrial machinery market value.

Asia-Pacific accounts for a further 33.2% of the global market.

Table 3: Global industrial machinery market segmentation II: % share, by value, 2010

Category % Share

Americas 37.2%

Asia-Pacific 33.2%

Europe 27.4%

Rest of the World 2.2%

Total 100%


Figure 3: Global industrial machinery market segmentation II: % share, by value, 2010



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MARKET SHARE



MARKET SHARE

Mitsubishi Heavy Industries, Ltd. is the leading player in the global industrial machinery market,

generating a 7.1% share of the market's value.

Kawasaki Heavy Industries, Ltd. accounts for a further 1.6% of the market.

Table 4: Global industrial machinery market share: % share, by value, 2010

Company % Share

Mitsubishi Heavy Industries, Ltd. 7.1%

Kawasaki Heavy Industries, Ltd. 1.6%

MAN SE Corporation 1.4%

IHI Corporation 0.6%

Other 89.3%

Total 100%


Figure 4: Global industrial machinery market share: % share, by value, 2010



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COMPETITIVE LANDSCAPE




The industrial machinery market will be analyzed taking manufacturers of industrial machinery and

industrial components as players. The key buyers will be taken as commercial users and industrial

companies (including construction, manufacturing, metalworking, agriculture, power producers etc.), and

metal producers along with providers of raw materials and equipment for manufacturers and

manufacturers of parts that not produced in-house as the key suppliers.

The improving market eases competition slightly which makes rivalry moderate. The market is highly

fragmented with the top four market players holding just under 12% of the total market value.

Buyer power is weakened due to the substantial number of buyers in this market. However, this is

ameliorated by low-cost switching. This also serves to attract new entrants. Entry to the market is possible

on a small local scale through specialized manufacturing. New entrants are also dissuaded by high fixed

costs, government regulations and the high level of intellectual property present in this market. High fixed

costs and high exit barriers serve to intensify competition amongst incumbents. The improving marketeases competition slightly which makes rivalry moderate.

There are a substantial number of buyers in the market resulting in market players having a large variety

of potential customers, which reduces buyer power. However, the loss of business from larger buyers

would adversely affect market players' revenues. Branding tends to be of negligible value in this market

with buyers opting for machinery that best suits their needs and so they tend to switch players in order to

find the best deal. This is additionally fuelled by the fact that switching costs are not very high. Moreover

there is very weak chance of players integrating forwards into the buyers area. However, buyer power is

weakened to an extent by the fact that the products being offered by market players are typically essential

to buyers, although there is some degree of product differentiation. Overall, buyer power is assessed as

moderate.

With fairly low differentiation of raw materials there is often little to distinguish between suppliers resulting

in low switching costs for manufacturers and decreasing supplier power. The price of raw materials is

volatile, with substantial variations evident from year to year. For many commodities purchased by market

players (including steel, copper, aluminum products and products derived from crude oil) continuing

global economic growth, sustained high demand from China and other emerging economies, and volatility

in foreign exchange rates have led to significant changes in raw material costs. Market players attempt to

overcome price fluctuations through the adoption of hedging strategies and by entering into long-term

contracts with suppliers where possible. Overall, supplier power is moderate in the market.

Entry to this market may be achieved by establishing a brand new company or by an existing company

diversifying its operations to include industrial machinery manufacture. Success in this market depends

on the engineering expertise of players, efficient production operations and entering into beneficial

relationship with suppliers and buyers. Market entry requires high capital investment and high fixed costs

are unavoidable. Small-scale entry is possible by specializing in the production of a particular type of

machinery. Small companies can compete effectively if they produce machinery with unique


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characteristics. Such companies may find it easier to attract buyers away from the incumbents. A number

of market players possess significant intellectual property (IP) in terms of patents, licenses and

trademarks. Manufacturers are subject to a number of laws and regulations governing emissions to air,

discharges to water and the generation, handling, storage, transportation, treatment and disposal of

general, non-hazardous and hazardous waste materials. The market has been showing poor growth in

recent years however an improvement in rates of growth is forecast for the coming years which should

encourage new entrants. Overall the likelihood of new entrants is weak.

Substitutes as such do not exist but used-products sold privately may be considered as an alternative.

This would be cheaper than buying brand new products; however, the machinery is unlikely to be under

any kind of warranty if sold privately which may pose a high risk to buyers as the machines are expected

to work in difficult heavy-duty environments. Overall, the threat of substitutes is moderate.

The market is highly fragmented with the top four market players (Mitsubishi Heavy Industries, MAN,

Kawasaki Heavy Industries and the IHI Corporation) holding less than 12% of the total market value.

Many companies are relatively small and compete with larger players by specializing in producing aparticular type of machinery. Competition between larger players is intense due to a number of factors

such as high fixed costs and low-switching costs for buyers. Demand in this market depends on the

health of certain industries. However, a number of larger players produce industrial machinery for a wide

variety of industries, and some operate in other markets. For example, Mitsubishi Heavy Industries also

operates an aerospace division. Such companies are consequently not highly dependent on the

performance of one market. Setting up a company in this market is capital intensive, which translates into

high exit barriers and thus intensified rivalry. However, the improving market eases competition slightly.

Overall, rivalry in this market is strong.


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LEADING COMPANIES



LEADING COMPANIES

IHI Corporation

Table 5: IHI Corporation: key facts

Head office: Toyosu IHI building, 1-1 Toyosu 3-chome, Koto-ku, Tokyo 135 8710,JPN

Telephone: 81 3 6204 7800

Fax: 81 3 6204 8800

Website: www.ihi.co.jp

Financial year-end: March

Ticker: 7013

Stock exchange: Tokyo

Source: company website D A T A M O N I T O R

The IHI Corporation (IHI) is a heavy industrial machinery and equipment manufacturer with operations

primarily in the areas of energy, construction, aerospace, and shipbuilding. The company operates in

Japan, North America, Asia, Europe, and Central and South America.

The energy and plants operations segment manufactures boilers, gas turbines, components for

environmental control systems, storage facilities and others. This segment also supplies equipment for

nuclear power plants, thermal power plants, process plants, water treatment plants, and renewable power

plants. It operates through subsidiaries including the Aomori Plant Company Limited, IHI Chita E & MCompany Limited, IHI Packaged Boiler Company Limited, IHI Inspection & Instrumentation Company

Limited, IHI Kankyo Engineering Company Limited, IHI Plant Construction Company Limited and IHI Plant

Engineering Corporation. IHI collaborates with Toshiba in the building of power plants, especially nuclear

power plants.

The aero-engine and space segment offers jet engines, space-related equipment and defense machinery.

In addition, this segment also focuses on the development of rockets and propulsion systems;

construction of space stations and experimental facilities; and participation in international space station

programs. This segment operates through the subsidiaries IHI Aerospace Company Limited, IHI

Aerospace Engineering Company Limited, IHI Master Metal Company Limited, INC Engineering

Company Limited, IHI Jet Service Company Limited and IHI Castings Company Limited.

The shipbuilding and offshore operations segment provides shipbuilding, ship repairs, offshore structures

and other services. This segment manufactures oil tankers, LNG/LPG carriers, container ships, bulk

carriers, passenger ships and ferries, naval vessels & coast guard ships, work vessels, offshore


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LEADING COMPANIES



development equipment, marine engines, deck cranes, deck machinery, and propulsion units. It operates

through the subsidiaries IHI Amtec Company Limited, IHI Engineering Marine Company Limited, IHI

Marine Company Limited, IHI Marine United Inc and Shinkoh SBA Company Limited.

The logistics systems and structures operations segment is engaged in providing material handling

systems, logistics and factory automation systems, parking systems, bridges and construction material

products. This segment operates through subsidiaries including IHI Infrastructure Systems Company

Limited, IHI Logistics Technology Company Limited, Ishikawajima Construction Materials Company

Limited, IHI Transport Machinery Company Limited and the ISMIC Company Limited.

The industrial machinery operations segment offers iron and steel manufacturing equipment, vehicular

turbochargers, mass-produced machinery and others. The company supplies blast furnaces, hot and cold

rolling mills for both ferrous and non-ferrous metals, including aluminum and copper, as well as auxiliary

equipment and systems. IHI provides combined systems for automobile plant press lines, which include

high-speed tandem press lines, press pre-processing and post-processing equipment, metal mold rackingsystems, automatic guided vehicles and others. This segment operates through the subsidiaries

Ishikawajima Machinery Engineering, IHI METALTECH, IHI Compressor and Machinery, IHI Machinery

and Furnace, IHI Turbo, IHI Seiki, JH, Nisshin, and Voith IHI Paper Technology.

Key Metrics

The company recorded revenues of $14,149 million in the fiscal year ending March 2010, a decrease of

10.5% compared to fiscal 2009. Its net income was $198 million in fiscal 2010, compared to a net income

of $287 million in the preceding year.

Table 6: IHI Corporation: key financials ($)

$ million 2006 2007 2008 2009 2010

Revenues 12,832.6 14,059.7 15,377.3 15,803.9 14,149.1

Net income (loss) 60.2 180.2 (84.3) 286.9 197.9

Total assets 16,643.7 17,482.2 17,560.2 16,957.3 16,081.5

Total liabilities 14,713.0 14,824.9 14,891.3 14,612.4 13,496.2

Employees 23,364 23,190 23,722 24,348 24,890

Source: company filings D A T A M O N I T O R


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LEADING COMPANIES



Table 7: IHI Corporation: key financials ()

million 2006 2007 2008 2009 2010

Revenues 1,127,075.0 1,234,851.0 1,350,567.0 1,388,042.0 1,242,700.0Net income (loss) 5,283.0 15,825.0 (7,407.0) 25,195.0 17,378.0

Total assets 1,461,796.0 1,535,441.0 1,542,295.0 1,489,342.0 1,412,421.0

Total liabilities 1,292,227.7 1,302,054.0 1,307,889.0 1,283,392.0 1,185,356.0


Table 8: IHI Corporation: key financial ratios

Ratio 2006 2007 2008 2009 2010

Profit margin 0.5% 1.3% (0.5%) 1.8% 1.4%Revenue growth 3.5% 9.6% 9.4% 2.8% (10.5%)

Asset growth 5.3% 5.0% 0.4% (3.4%) (5.2%)

Liabilities growth 4.7% 0.8% 0.4% (1.9%) (7.6%)

Debt/asset ratio 88.4% 84.8% 84.8% 86.2% 83.9%

Return on assets 0.4% 1.1% (0.5%) 1.7% 1.2%

Revenue per employee $549,248 $606,285 $648,228 $649,086 $568,466

Profit per employee $2,575 $7,770 ($3,555) $11,782 $7,949



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LEADING COMPANIES



Figure 5: IHI Corporation: revenues & profitability


Figure 6: IHI Corporation: assets & liabilities



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LEADING COMPANIES



Kawasaki Heavy Industries, Ltd.

Table 9: Kawasaki Heavy Industries, Ltd.: key facts

Head office: Kobe Crystal Tower, 1-3 Higashikawasaki-cho 1-chome, Chuo ku

Kobe, Hyogo 650 8680, JPN

Telephone: 81 78 371 9530

Fax: 81 78 371 9568

Website: www.khi.co.jp


Ticker: 7012



Kawasaki Heavy Industries (KHI) is a manufacturer of transportation equipment and industrial goods. KHI

manufactures ships, rolling stock, aircraft and jet engines, gas turbine power generators, refuse

incinerators, industrial plants, steel structures, and a wide range of manufacturing equipment and

systems. It also produces consumer products such as motorcycles and personal watercraft. The company

operates globally through a number of subsidiaries and affiliates.

The company operates through a number of business segments including: consumer products and

machinery, aerospace, gas turbines and machinery, rolling stock, shipbuilding, plant and infrastructure

engineering and hydraulic machinery.

The consumer products and machinery segment is mainly engaged in the manufacture and sale of

products for consumers. Its product lineup ranges from leisure vehicles such as motorcycles, all-terrain

vehicles, and Jet Ski watercraft to utility vehicles and general purpose gasoline engines. It also

manufactures robots.

The aerospace segment of the company provides a wide range of products for the aviation industry. This

segment manufactures a variety of helicopters in a range of sizes, including the BK117, jointly developed

and manufactured with Eurocopter Deutschland of Germany. It also produces the CH-47J / JA helicopter.

This segment develops and produces the OH-1 light observation helicopter as the prime contractor for the

Ministry of Defense (MoD). In the civil aircraft business, the company focuses on the joint internationaldevelopment and production of large passenger aircraft. It is involved in the joint development and

production of the Boeing 767 and 777 with the Boeing Company of the US, and the Embraer 170, 175,

190, and 195 jets with the Brazilian manufacturer Empresa Brasileira de Aeronautica.


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LEADING COMPANIES



This segment manufactures helicopter engines for the MoD, and participates in the joint international

development and production of turbofan engines for passenger aircraft such as the V2500, the

RB211/Trent, the PW4000 and the CF34, and aircraft auxiliary power units. In addition, the aerospace

segment develops and produces payload fairings, payload attach fittings, and constructs the launch

complex for the 'H-U rocket'. KHI is involved in the development of a stratospheric platform and manned

space technology, including the training of astronauts.

The gas turbines and machinery segment manufactures and sells gas turbines, airplane engines, and

prime movers. In the industrial gas turbine business, the company manufactures a range of equipment,

including gas turbines for power generation and for stand-by power supply, as well as co-generation

systems. Through its machinery business, the company provides a wide range of mechanical products,

including gas turbines, steam turbines, diesel engines, aerodynamic machinery, and hydraulic machinery.

By utilizing these products, the company conducts plant design, plant production, plant installation, and

plant maintenance.

The rolling stock segment of the company deploys its aerodynamics know-how in the development and

design of high-speed trains such as Shinkansen. It also supplies express and commuter trains, subway

cars, freight trains, locomotives, monorails, and new transit systems. The company's technologies also

support the development of a platform screen door system, and vibration and oscillation control systems.

KHI produces rail cars in the US at Kawasaki Rail Car.

The company operates its shipbuilding segment through its main subsidiary, Kawasaki Shipbuilding. This

segment is into shipbuilding and ship repair. It products include high-performance liquefied natural gas

(LNG) and liquefied petroleum gas (LPG) carriers, container ships, bulk carriers, and very large crude

carriers, as well as submarines. The company is spearheading development of offshore structures and

research vessels. Kawasaki Shipbuilding also operates a joint venture in China with China Ocean

Shipping (COSCO), called Nantong COSCO KHI Ship Engineering. Through its marine machinery and

equipment, the company produces a wide array of marine machinery and equipment, including main

engines, propulsion systems, steering gears, deck, and fishing machinery.

The plant and infrastructure engineering segment is engaged in the production and sale of boilers,

chemical and cement plants, and refuse incineration plants. The company operates this segment through

its subsidiary, Kawasaki Plant Systems (K Plant). K Plant supply energy-related, industrial infrastructure,

and environmental preservation systems and equipment. This segments portfolio also includes power

plants, municipal refuse incineration plants, LNG and LPG tanks, and shield machines and tunnel-boring

machines.

The hydraulic machinery segment includes the production and sale of hydraulic machines. The core

company in this segment is Kawasaki Precision Machinery. It is a hydraulic equipment manufacturer.


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LEADING COMPANIES



Key Metrics


12.3% compared to fiscal 2009. Its net loss was $124 million in fiscal 2010, compared to a net income of

$134 million in the preceding year.

Table 10: Kawasaki Heavy Industries, Ltd.: key financials ($)

$ million 2006 2007 2008 2009 2010

Revenues 15,057.5 16,379.8 17,091.2 15,241.0 13,360.9

Net income (loss) 187.5 339.0 400.2 133.5 (123.6)

Total assets 14,620.3 15,461.7 15,698.3 15,937.5 15,398.6


Employees 28,922 29,211 31,862 32,266 32,297


Table 11: Kawasaki Heavy Industries, Ltd.: key financials ()

million 2006 2007 2008 2009 2010

Revenues 1,322,487.0 1,438,619.0 1,501,097.0 1,338,597.0 1,173,473.0

Net income (loss) 16,467.0 29,772.0 35,145.0 11,728.0 (10,860.0)

Total assets 1,284,085.0 1,357,980.0 1,378,765.0 1,399,771.0 1,352,439.0




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LEADING COMPANIES



Table 12: Kawasaki Heavy Industries, Ltd.: key financial ratios

Ratio 2006 2007 2008 2009 2010

Profit margin 1.2% 2.1% 2.3% 0.9% (0.9%)Revenue growth 6.5% 8.8% 4.3% (10.8%) (12.3%)

Asset growth 7.5% 5.8% 1.5% 1.5% (3.4%)

Liabilities growth 5.4% 1.5% 0.3% 4.1% (3.6%)

Debt/asset ratio 81.5% 78.2% 77.3% 79.3% 79.1%

Return on assets 1.3% 2.3% 2.6% 0.8% (0.8%)


Profit per employee $6,483 $11,604 $12,559 $4,138 ($3,829)


Figure 7: Kawasaki Heavy Industries, Ltd.: revenues & profitability



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LEADING COMPANIES



Figure 8: Kawasaki Heavy Industries, Ltd.: assets & liabilities



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LEADING COMPANIES



MAN SE

Table 13: MAN SE: key facts

Head office: Ungererstr. 69, Munich 80805, DEU

Telephone: 49 89 36098 0

Fax: 49 89 36098 250

Website: www.man.de

Financial year-end: December

Ticker: MAN

Stock exchange: Frankfurt


MAN is one of the leading transport-related engineering groups in the world. The group supplies trucks,

buses, diesel engines, turbo machines, and special gear units. MAN primarily operates through its

reportable subsidiaries: MAN Nutzfahrzeuge, MAN Diesel, MAN Latin America and MAN Turbo.

MAN Nutzfahrzeuge is the largest company in the MAN Group and is a leading manufacturer of

commercial vehicles and transportation solutions. It has production facilities in four European countries

and in India. MAN Nutzfahrzeuge's product range includes trucks with a gross vehicle weight of 7.5 to 60

tons for short- and long-haul transportation, trucks for military and public-sector uses, through buses and

coaches, to combustion ignition and spark-ignited engines for vehicles. In FY2009, MAN Nutzfahrzeuge

recorded a total order intake of 37,984 units, which included 33,272 trucks and 4,712 busses.

MAN offers financial services through MAN Finance International in the fields of transport, drives and

energy, worldwide. The portfolio of services covers national and international financing solutions for trucks

and buses from MAN Nutzfahrzeuge. MAN Finance supports the sales of MAN Nutzfahrzeuge in all

relevant international markets.

MAN Diesel is a provider of large-bore diesel engines for marine and power plant applications. The

company designs two-stroke and four-stroke engines, generating sets, turbochargers, CP propellers and

complete propulsion packages that are manufactured both by MAN Diesel and its licensees. MAN Diesel

has manufacturing operations in Germany, Denmark, England, France, the Czech Republic and China.

MAN Latin America was officially established in 2009 with the acquisition of Volkswagen Trucks and

Buses by MAN. With a total production capacity of 80 thousand vehicles per year, MAN Latin America is

the largest manufacturer of trucks, and the second largest bus manufacturer in South America. MAN Latin

America offers a full line of trucks and buses, with over 40 models available and sold in 30 countries in


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LEADING COMPANIES



Latin America, Africa and the Middle East. In FY2009, MAN Latin America recorded a total order intake of

35,842 units.

MAN Turbo manufactures compressors and industrial turbines. Its areas of operation are the

manufacturing of machine trains; compressors for industrial processes; and gas and steam turbines for

drive systems and power generation. A wide range of after-sales service operations supplements the

product range. MAN Turbo has production facilities located in Germany, Switzerland, Italy, and China.

In addition, MAN owns a majority stake in the Augsburg-based Renk, manufacturer of high-quality special

gears, components of propulsion technology and test systems. The company offers a wide range of

vehicle transmissions, driving elements, special-purpose propulsion systems, and broad-use propulsion

systems. Renk has production facilities in Germany, Switzerland, France, and the US.

Key Metrics

The company recorded revenues of $19,416 million in the fiscal year ending December 2010, an increase

of 21.9% compared to fiscal 2009. Its net income was $956 million in fiscal 2010, compared to a net loss


Table 14: MAN SE: key financials ($)

$ million 2006 2007 2008 2009 2010

Revenues 17,286.2 18,629.5 19,797.8 15,931.0 19,416.3

Net income (loss) 1,225.4 1,622.8 1,651.9 (341.8) 956.4

Total assets 20,196.6 21,408.7 21,897.5 21,056.3 23,091.1Total liabilities 15,190.5 14,550.7 14,749.4 14,261.9 15,156.1

Employees 53,715 50,399 51,321 48,621 47,743



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LEADING COMPANIES



Table 15: MAN SE: key financials ()

million 2006 2007 2008 2009 2010

Revenues 13,049.0 14,063.0 14,945.0 12,026.0 14,657.0Net income (loss) 925.0 1,225.0 1,247.0 (258.0) 722.0

Total assets 15,246.0 16,161.0 16,530.0 15,895.0 17,431.0



Table 16: MAN SE: key financial ratios

Ratio 2006 2007 2008 2009 2010

Profit margin 7.1% 8.7% 8.3% (2.1%) 4.9%Revenue growth 14.7% 7.8% 6.3% (19.5%) 21.9%

Asset growth 7.7% 6.0% 2.3% (3.8%) 9.7%

Liabilities growth 2.5% (4.2%) 1.4% (3.3%) 6.3%

Debt/asset ratio 75.2% 68.0% 67.4% 67.7% 65.6%

Return on assets 6.3% 7.8% 7.6% (1.6%) 4.3%


Profit per employee $22,812 $32,199 $32,188 ($7,029) $20,033



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LEADING COMPANIES



Figure 9: MAN SE: revenues & profitability


Figure 10: MAN SE: assets & liabilities



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LEADING COMPANIES



Mitsubishi Heavy Industries, Ltd.

Table 17: Mitsubishi Heavy Industries, Ltd.: key facts

Head office: 16-5 Konan 2-chome, Minato ku, Tokyo 108 8215, JPN

Telephone: 81 3 6716 3111

Fax: 81 3 6716 5800

Website: www.mhi.co.jp


Ticker: 7011



Mitsubishi Heavy Industries (MHI) is a Japanese manufacturing company engaged in the design,

development, manufacture, and sale of industrial equipment and machinery. The company has global

operations spanning Asia, Europe, and the Americas.

The company operates through a number of business divisions including: power systems, mass and

medium-lot manufactured machinery, machinery and steel structures, aerospace and shipbuilding and

ocean development.

The power systems division develops energy conservation measures, petroleum substitutes, and new

forms of energy. The division is also involved in the nuclear power field as one of the world's leading

manufacturers of nuclear power plants. This division is involved in the manufacturing, installation, sale

and repair of boilers, steam turbines, gas turbines, diesel engines, water turbines, wind turbines, SCR

(DeNOx) systems, marine machinery, desalination plants, nuclear power plants and equipment, advanced

reactor plants, nuclear fuel cycle plants, and nuclear fuel amongst others.

The mass and medium lot manufactured machinery (MMM) division develops and manufactures products

such as engines and forklift trucks for the logistics field. Its air-conditioning and refrigeration systems

product line offers a range of air-conditioning products. The industrial machinery unit manufactures

extrusion machinery, used in the production of plastic products, beverage filling and packaging machines,

and other industrial equipment. This division also includes the paper and printing machinery business in

the paper-related equipment field.

The machinery and steel structures division provides a range of equipment and systems applicable for

waste treatment, flue gas desulphurization and treatment, environmental control, and transportation. It

also supplies bridges, stacks, hydraulic gates, transportation equipment, tunneling machinery, and other


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LEADING COMPANIES



products. The division is also involved with the construction of bridges, parking systems, and leisure and

entertainment facilities. This division is also into the manufacturing and installation of petrochemical

plants, flue gas desulphurization systems, flue gas CO2 recovery plants, oil and gas production plants,

and other chemical plants.

The aerospace division is involved in the manufacturing, installation, sale and repair of fighter jets,

helicopters, and other aircraft, structural parts and components of commercial transport aircraft, aero

engines, missiles, torpedoes, space systems, and launch services via launch vehicles.

The shipbuilding and ocean development division manufactures a range of large vessels and ocean

structures such as crude oil carriers, container ships, cruise ships, car ferries, LPG carriers, LNG carriers,

defense vessels, and offshore structures. The other operations of the division include manufacturing

equipment related to marine research, survey, and development projects. The division also manufactures

equipment and offers other facilities that are used by oil and gas companies.

Key Metrics


12.9% compared to fiscal 2009. Its net income was $161 million in fiscal 2010, compared to a net income


Table 18: Mitsubishi Heavy Industries, Ltd.: key financials ($)

$ million 2006 2007 2008 2009 2010

Revenues 31,790.3 34,937.3 36,469.6 38,434.7 33,484.3

Net income (loss) 339.5 556.1 698.3 275.7 161.3

Total assets 46,079.6 50,004.8 51,431.3 51,534.5 48,536.0


Employees 62,212 62,940 64,103 67,416 67,400



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LEADING COMPANIES



Table 19: Mitsubishi Heavy Industries, Ltd.: key financials ()

million 2006 2007 2008 2009 2010

Revenues 2,792,109.0 3,068,505.0 3,203,085.0 3,375,674.0 2,940,887.0Net income (loss) 29,817.0 48,840.0 61,332.0 24,217.0 14,163.0

Total assets 4,047,122.0 4,391,865.0 4,517,148.0 4,526,213.0 4,262,859.0



Table 20: Mitsubishi Heavy Industries, Ltd.: key financial ratios

Ratio 2006 2007 2008 2009 2010

Profit margin 1.1% 1.6% 1.9% 0.7% 0.5%Revenue growth 7.8% 9.9% 4.4% 5.4% (12.9%)

Asset growth 5.6% 8.5% 2.9% 0.2% (5.8%)

Liabilities growth 5.9% 11.0% 4.5% 5.4% (9.5%)

Debt/asset ratio 65.6% 67.1% 68.1% 71.6% 68.8%

Return on assets 0.8% 1.2% 1.4% 0.5% 0.3%


Profit per employee $5,457 $8,835 $10,894 $4,090 $2,393



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LEADING COMPANIES



Figure 11: Mitsubishi Heavy Industries, Ltd.: revenues & profitability


Figure 12: Mitsubishi Heavy Industries, Ltd.: assets & liabilities



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MARKET FORECASTS



MARKET FORECASTS

Market value forecast

In 2015, the global industrial machinery market is forecast to have a value of $449.4 billion, an increase of23.8% since 2010.

The compound annual growth rate of the market in the period 201015 is predicted to be 4.4%.

Table 21: Global industrial machinery market value forecast: $ billion, 201015

Year $ billion billion % Growth

2010 363.1 273.4 3.4%

2011 377.3 284.2 3.9%

2012 393.3 296.2 4.2%

2013 410.7 309.3 4.4%

2014 429.5 323.5 4.6%

2015 449.4 338.5 4.6%

CAGR: 201015 4.4%


Figure 13: Global industrial machinery market value forecast: $ billion, 201015



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APPENDIX



APPENDIX

Methodology

Datamonitor Industry Profiles draw on extensive primary and secondary research, all aggregated,analyzed, cross-checked and presented in a consistent and accessible style.

Review of in-house databases Created using 250,000+ industry interviews and consumer surveys

and supported by analysis from industry experts using highly complex modeling & forecasting tools,

Datamonitors in-house databases provide the foundation for all related industry profiles

Preparatory research We also maintain extensive in-house databases of news, analyst

commentary, company profiles and macroeconomic & demographic information, which enable our

researchers to build an accurate market overview

Definitions Market definitions are standardized to allow comparison from country to country. The

parameters of each definition are carefully reviewed at the start of the research process to ensure they

match the requirements of both the market and our clients

Extensive secondary research activities ensure we are always fully up-to-date with the latest

industry events and trends

Datamonitor aggregates and analyzes a number of secondary information sources, including:

- National/Governmental statistics

- International data (official international sources)

- National and International trade associations

- Broker and analyst reports

- Company Annual Reports

- Business information libraries and databases

Modeling & forecasting tools Datamonitor has developed powerful tools that allow quantitative

and qualitative data to be combined with related macroeconomic and demographic drivers to create

market models and forecasts, which can then be refined according to specific competitive, regulatory

and demand-related factors

Continuous quality control ensures that our processes and profiles remain focused, accurate and

up-to-date


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APPENDIX



Industry associations

Association of Equipment Manufacturers

111 E. Wisconsin Ave. Suite 1000, Milwaukee, WI 53202-4806, USATel.: 001 414 272 0943

Fax: 001 414 272 1170

www.aem.org

Related Datamonitor research

Company Profile

Mitsubishi Heavy Industries, Ltd.

MAN SE

Industry Profile

Global Construction & Farm Machinery & Heavy Trucks

Global Machinery

Global Capital Goods


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APPENDIX



Disclaimer

All Rights Reserved.

No part of this publication may be reproduced, stored in a retrieval system or transmitted in any form

by any means, electronic, mechanical, photocopying, recording or otherwise, without the prior

permission of the publisher, Datamonitor plc.

The facts of this report are believed to be correct at the time of publication but cannot be guaranteed.

Please note that the findings, conclusions and recommendations that Datamonitor delivers will be

based on information gathered in good faith from both primary and secondary sources, whose

accuracy we are not always in a position to guarantee. As such Datamonitor can accept no liability

whatever for actions taken based on any information that may subsequently prove to be incorrect.


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