NEW YORK (TheStreet) -- PACCAR (PCAR), Kennametal (KMT), Caterpillar (CAT) and Illinois Tool Works (ITW) are four manufacturing companies that reported positive quarterly earnings. On average, analysts expect their shares to rise between 12% to 17%.The rebound in industrial activity across major economies will benefit these equipment makers in the coming months. Industrial production rose 0.8% month-over-month in December in the U.S., 1.3% in Europe, 2.7% in India, 1.5% in China and 3.1% in Japan. These increases indicated demand should rise for these mining equipment manufacturers. According to a recent PricewaterhouseCoopers quarterly survey of manufacturing executives, almost 63% were optimistic about growth prospects in the next 12 months. This indicates a 28-point increase, compared with the prior quarter. The majority of the U.S. manufacturing companies reported higher-than-expected quarterly earnings, indicating strong demand from emerging markets. Equipment manufacturers believe that urbanization and industrial growth in the developing and emerging economies will boost infrastructure, improve living standards and raise the demand for products and commodities.