This is one in a series of excerpts from the Advanced Energy Now 2019 Market Report, prepared for AEE by Navigant Research.
Advanced Industry, the sixth largest advanced energy segment both globally and domestically, contains two subsegments: Manufacturing Machinery and Process Equipment and Industrial Combined Heat and Power (CHP). Manufacturing Machinery and Process Equipment is tracked through sales of industrial energy management systems, which are software and services for energy management within an industrial facility or across an enterprise to meet efficiency, cost savings, and sustainability targets while maintaining optimal operation of production processes.
Global Advanced Industry revenue reached $54.5 billion in 2018, a 12% increase over 2017, building on 11% growth the year before. This is an acceleration over previous years of steady growth driven by the expansion of manufacturing machinery and process equipment caused by increased global production and the adoption of advanced technology in industrial processes. Compound Annual Growth Rate (CAGR) for global Advanced Industry revenue over the 2011-18 period was 9%. Growth in U.S. revenue was even greater over the period since 2011, more than doubling in that time, with CAGR of 12%, but essentially flat in 2018.