[English Market Research Report] World Market for Commercial/Service Industry Machinery

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The market for commercial/service industry machinery is poised for growth, thanks to the stable economic conditions in many developed and developing countries. When the economy is stable, business activities become more active. As the economy grows, industries typically respond to increased demand by expanding, upgrading, and renewing their machinery and equipment to improve operational efficiency. As a result, a surge in demand for commercial/service industry machinery is expected. For example, according to data from the International Monetary Fund (IMF), a financial institution in the United States, China's Gross Domestic Product (GDP) is projected to increase from $17.75 trillion in 2021 to $18.1 trillion in 2022. Furthermore, the growth rate of emerging markets and developing economies was 3.9% in 2020, but it rose to 6.1% in 2022. Therefore, stable economic growth is expected to encourage increased investment in the end-user market, promoting market growth during the forecast period.

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