As per the latest report by IMARC Group, titled “Machine Tools Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, the global machine tools market to grow at a CAGR of around 4% during 2021-2026. Machine tools represent power-driven metal forming or cutting equipment used for metals or other hard materials. These tools range from small workbench-mounted instruments to large devices that are utilized in modern industries. They perform numerous operations, including cutting, forming, grinding, drilling, abrading, nibbling, etc. Machine tools also help in enhancing product uniformity and reducing the amount of human interaction needed at different stages of the process. In recent times, the mode of operation has progressed from numerical control (NC) to direct numerical control (DNC) and computer numerical control (CNC).
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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Global Machine Tools Market Trends:
The escalating product demand across several end-use industries, including precision engineering, automotive, aerospace, electronics, etc., is driving the machine tools market. Moreover, the emergence of advanced technologies, such as lasers, ultrasonics, plasma streams, etc., is further augmenting the global market. In addition to this, the growing incorporation of 3D printing technology is aiding in minimizing the quantity of materials required for producing these tools, which is another growth-inducing factor. Furthermore, several organizations are introducing automation in their manufacturing processes to improve productivity and meet quality standards, thereby bolstering the market growth. Besides this, numerous vendors are utilizing simulation engineering software and modern designs to ensure the accuracy, sturdiness, reliability, etc., of the machines. This, in turn, is anticipated to stimulate the global machine tools market in the coming years.
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Key Market Segmentation:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
- Allied Machine & Engineering Corporation
- AMADA Holdings Co. Ltd.
- Dalian Machine Tool Group Corporation
- DMG Mori Co. Ltd.
- FALCON Machine Tools Co. Ltd.
- 600 Group PLC
- Yamazaki Mazak Corporation
- TRUMPF GmbH + Co. KG
- JTEKT Corporation
- Doosan Machine Tools Co., Ltd.
- Okuma Corporation
- Hyundai Wia Corporation
- Makino Inc.
- Schuler AG
Breakup by Tool Type:
- Metal Cutting
- Metal Forming
Breakup by Technology Type:
- CNC (Computerized Numerical Control)
Breakup by End Use Industry:
- Aerospace and Defense
- Electrical and Electronics
- Consumer Goods
- Precision Engineering
Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key highlights of the Report:
- Market Performance (2015-2020)
- Market Outlook (2021-2026)
- COVID-19 Impact on the Market
- Porter’s Five Forces Analysis
- Historical, Current and Future Market Trends
- Market Drivers and Success Factors
- SWOT Analysis
- Structure of the Market
- Value Chain Analysis
- Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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