The Global Machine Tools Industry is projected to grow from a market size of USD 77.0 billion in 2019 to USD 98.3 billion in 2027 at a CAGR of 3.2% during the period (2019-2027).
The machine tool industry has evolved with the development of both hardware technology and software applications. This has resulted in machines becoming faster, intelligent, and versatile. Advanced CAM technology is being used for multi-axis, multi-spindle, and multi-turret machines. The increasing demand from the end-user industries such as Automobile, Aerospace, and Defense, Energy, etc., will trigger the growth of the machine tool industry during the forecast period.
The global machine tools market is dominated by Doosan Machine Tools Co. Ltd. (Japan), AMADA Pvt. Ltd. (Japan), Makino (Japan), JTKET Corporation (Japan), Georg Fischer Ltd. (Switzerland), Komatsu NTC Ltd. (Japan), OKUMA Corporation (Japan), Hyundai WIA (South Korea), Schuler AG (Germany), Chiron Group SE (Germany), MAG IAS GmbH (Germany), GROB-WERKE GmbH & Co. KG (Germany), Haas Automation Inc. (USA), Gleason Corporation (USA), Spinner Machine Tools (Germany), Dalian Machine Tools Group Corporation (China), Yamazaki Mazak Corporation (Japan), DMG MORI (Germany), Electronica Hitech Engineering Pvt. Ltd. (India), Ace Micromatic Group (India).
Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=168345068
The growing demand for the products with quality and precision and the need to improve productivity have propelled companies to undertake automation in manufacturing. Investment in the research and development activities by major machine tools manufacturers is focused on areas such as technology, hardware, software, services, and the communication protocol used for automation.
Machine tools have always been in demand in the industry segments such as automotive, aerospace, railways, energy, etc. In the machine tool industry maximum percentage of the business comes from the automotive industry. The growth in vehicle production in countries such as the USA, China, India, and Brazil has fuelled the demand for high precision machine tools. There has been a demand in the automotive sector in terms of product precision, accuracy, and ability to manufacture complex components. Machine tools manufacturers can leverage technological advancements to cater to these industry expectations. They can focus on R&D to develop new machining solutions.
The machine tool industry has advanced significantly in hardware and software applications, and this trend would continue with the increasing use of computerized machine controls. The increasing drive for process automation in the manufacturing and automotive sectors will drive the machine tools industry. The leading manufacturers are focussing on advancements in the CNC software solutions, inclusion of smart features, highly automated and IOT-ready machines, which will further improve the efficiency of machines.
Request FREE Sample Report @ https://www.marketsandmarkets.com/requestsampleNew.asp?id=168345068
In India, machine tools are among the sectors in focus in the National Capital Goods Policy, which is aimed at making the Indian Capital goods sector globally competitive. The policy integrates major capital goods sub-sectors like machine tools, textile machinery, earthmoving and mining machinery, heavy electrical equipment, plastic machinery, process plant equipment, dies, molds and press tools, printing and packaging machinery and food processing machinery as priority sectors to be envisaged under the ‘Make in India’ initiative by the Government of India.
Key Questions addressed by the report:
Market Overview–
• What is the global market scenario of the machine tool industry? The regions considered are EU, NA, APAC, Brazil, Russia
• What is the market split by product type (Milling, Drilling, Turning, Grinding, EDM)?
• What are the key market trends impacting the growth of the machine tool industry?
• What are the types (CNC machine tools, conventional machine tools) and applications (Automotive, Sheet Metal, Capital Goods, and Energy) of machine tools? What is the market share of each type and application?
• What are the opportunities and threats faced by the manufacturers in the machine tools industry?
• What are the key factors driving the global machine tools industry?
• What are the challenges to the growth of the machine tools market?
Market Sizing–
• What are the machine tools market size and the growth rate be in 2022, 2025, 2027?
• What will be the market share of the following regions: North America, Europe, Asia Pacific, and RoW?
• Economic impact on machine tools industry and development trends.
Key Players–
• Who are the key manufacturers of the machine tools industry?
• What are the new developments in the market, and which companies are leading these developments?
• What strategic initiatives are being implemented by the key players for business growth?
• What are the M&A activities that have transpired in the last 5 years in this market, and what impact have they had on the industry?
To speak to our analyst for a discussion on the above findings, click Speak to Analyst
