I can see that it is a bit larger, I assume it has a higher output, but I have no idea how much higher, or if there are any additional advantages it has over the normal version.
I did some testing on this as there didn't appear to be any info in the game to tell you the difference. I set up one of each variant and hooked up water/fiber to make sure they could run continuously. Then I waited for 24 local hours to see the difference. The results are below.
- Industrial: 617 Ornamental Material
- Commercial: 379 Ornamental Material
- Normal: 284 Ornamental Material
Given the results, it seems as though the commercial version works ~33% faster, and the industrial version works ~117% faster than the normal version. They took the same amount of resources for each craft (if you fed 2 fiber, 1 water to each, you would get 1 ornamental material from each) they just craft faster, so if you are setting up a production line, you will need a higher rate of collection for the inputs for the higher tier versions to insure they are able to craft at the max speed.