Industrial machinery is a group of devices that operate inside a business activity engaged in the manufacture of physical goods.
A factory transforms physical inputs into a product.
Industrial machinery is an example of a factor of production that in the past was an output from the production process. Industrial machinery can be used to produce production factors or final goods.
Examples of industrial machinery are:
- Industrial Furnaces
- Industrial Robots
- Packaging machines
- Assembly line devices
The classic classification of production factors, states that we can group the into:
Industrial machinery belongs to the capital production factors. Other examples of capital are:
- Office equipment
- Automobiles, Planes, Trucks and Ships