Editing Industrial Revolution (section)

==Second Industrial Revolution==
{{Main|Second Industrial Revolution}}
[[File:Hartmann Maschinenhalle 1868 (01).jpg|thumb|[[Sächsische Maschinenfabrik]] in [[Chemnitz]], Germany in 1868]]
<!--The industries created by the original innovations of the Industrial Revolution were mature and their markets saturated by the 1830s, resulting in an economic downturn, followed by a long period of slow growth.-->
[[Steel]] is often cited as the first of several new areas for industrial mass-production, which are said to characterise a "Second Industrial Revolution", beginning around 1850, although a method for mass manufacture of steel was not invented until the 1860s, when [[Henry Bessemer]] invented a new furnace which could convert molten [[pig iron]] into steel in large quantities. However, it only became widely available in the 1870s after the process was modified to produce more uniform quality.<ref name="McNeil1990"/><ref name="Men, Machines and Modern Times"/>

This Second Industrial Revolution gradually grew to include chemicals, mainly the [[chemical industry|chemical industries]], [[petroleum]] and, in the 20th century, the [[automotive industry]], and was marked by a transition of technological leadership from Britain, to the US and Germany. The increasing availability of economical petroleum products also reduced the importance of coal and widened the potential for industrialisation.

A new revolution began with electricity and [[electrification]] in the [[Electrical power industry|electrical industries]]. By the 1890s, industrialisation had created the first giant industrial corporations with burgeoning global interests, as companies like [[U.S. Steel]], [[General Electric]], [[Standard Oil]] and [[Bayer|Bayer AG]] joined the railroad and ship companies on the world's [[stock market]]s.