hehe.. no MD, its named for the ambience it creates, which well, resembles a factory!

quoting wiki,

Industrial was a term meant by its creators to evoke the idea of music created for a new generation of people, previous music being more "agricultural". A fatalist-but-realistic, slightly misanthropic and often intensely dehumanized or mechanical atmosphere was present in the music and the utilization of gritty, hands-on technologies and techniques, rather than any concrete compositional detail, was a common practice. Another common matter of industrial music is the use of found objects, such as trash cans and bottles.