Category : Process Control and Automation | Published at : August-2020 | Delivery Format : PDF | Status: Published | Pages : 190
The market for machine tools is expected to grow at a CAGR of around 4.1% from 2020 to 2027 and expected to reach the market value of around US$129.1 Bn by 2027.
Machine tool is a stationary power-driven machine used to shape or form parts made of metal or other materials. The task is done by cutting excess material in the form of chips from the part, shearing the material, squeezing metallic parts to the desired shape, or by applying electricity, ultrasound, or corrosive chemicals to the material.
Market Dynamics
The growing industries that produce end products and components using machine tools along with the increasing demand for superior quality products that are achievable through high precision machine tools are supporting the market growth. The rapid expansion of metalwork process industries and the increasing number of production facilities along with the establishment of new factories in various end-use industries like automotive, railway, aerospace, and defense are bolstering the market value. Furthermore, the increasing demand for electric vehicles across the globe is projected to create potential opportunities over the forecast timeframe from 2020 to 2027.
On the other hand, high initial cost involves in the high-end machines, and trade barriers between different regions are anticipated to limit growth to an extent during the forecast period from 2020 to 2027.
Automotive segment accounted for the maximum share in 2019
By end-use, automotive is the leading segment with major share (%) in terms of value. The segment is particularly gaining growth on account of the increasing demand in the sector. The increasing production of automotive especially in the Asia Pacific region is accelerating the segmental market value.
The market research study on “Machine Tools Market– Global Industry Analysis, Market Size, Opportunities and Forecast, 2020 – 2027”, offers a detailed insight into the global Machine Tools market entailing insights on its different market segments. Market dynamics with drivers, restraints and opportunities with their impact are provided in the report. The report provides insights into the global Machine Tools market, its product type, application, and major geographic regions. The report covers basic development policies and layouts of technology development processes. Secondly, the report covers global Machine Tools market size and volume, and segment markets by product type, application, and geography along with the information on companies operating in the market. The Machine Tools market analysis is provided for major regional markets including North America, Europe, Asia Pacific, Latin America and Middle East and Africa. For each region, the market size and volume for different segments have been covered under the scope of the report.
Asia Pacific registered maximum share in the global market.
In 2019, Asia Pacific accounted for the major or dominating share in the global machine tools market. The region is also projected to maintain its dominance over the forecast period from 2020 to 2027. The rapid industrialization and expanding automotive sector are contributing to the regional market value. The major economies of the region including Japan, China, and India are majorly contributing to the regional market growth. Additionally, the region is also projected to experience the fastest growth over the estimated period.
The players profiled in the report include Amada Co. Ltd, CHIRON Group, Dalian Machine Tool Group, Diskus Werke AG, DMG Mori, Seiki Co., Ltd, Falcon Machine Tools Co. Ltd, FANUC Corporation, Haas Automation, Inc, JTEKT Corporation, Komatsu Ltd, MAG, Makino Milling Machine Co., Ltd, Okuma Corporation, Schuler AG, Shenyang Machine Tool Group, TRUMPF Group, and Yamazaki Mazak.
Market Segmentation
Market By Tool Type
Metal Cutting
Metal Forming
Market By Technology Type
Conventional
CNC (Computerized Numerical Control)
Market By End Use
Automotive
Aerospace and Defense
Electrical and Electronics
Consumer Goods
Precision Engineering
Others
Market By Geography
North America
- U.S.
- Canada
Europe
- UK
- Germany
- France
- Spain
- Rest of Europe
Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia-Pacific
Latin America
- Brazil
- Mexico
- Rest of Latin America
Middle East & Africa
- GCC
- South Africa
- Rest of Middle East & Africa
Frequently Asked Questions
The growing industries that produce end products and components using machine tools and increasing demand for superior quality products are the factors driving the market growth.
The market for machine tools is expected to reach a market value of around US$ 129.1 Bn by 2027.
The market for machine tools is expected to grow at a CAGR of around 4.1% from 2020 to 2027.
Amada Co. Ltd, CHIRON Group, Dalian Machine Tool Group, Diskus Werke AG, DMG Mori, Seiki Co., Ltd, Falcon Machine Tools Co. Ltd, FANUC Corporation, Haas Automation, Inc, JTEKT Corporation, Komatsu Ltd, MAG, Makino Milling Machine Co., Ltd, Okuma Corporation, Schuler AG, Shenyang Machine Tool Group, TRUMPF Group, and Yamazaki Mazak are the prominent players in the market growth.
The automotive is the leading segment by end use in the machine tools market.
Asia Pacific held the highest market share in the machine tools market.
The report provides insights on global machine tools market segment by tool type, technology type, end use, and major geographic regions.
