A machine tool is used to shape or form parts made of metal or other materials. The machine tools industry is witnessing significant technological advancements such as the development of the robotic arm and multioaxis. Growing demand from primary industry users like automotive, aerospace, and railways is also likely to create a favorable landscape for the manufacturers of machine tools in the coming years. The Asia Pacific is expected to be dominant in terms of market size due to population growth and urbanization.
MARKET SCOPE
The "Global Machine Tools Market Analysis to 2028" is a specialized and inodepth study of the manufacturing and construction industry with a special focus on the global market trend analysis. The report aims to provide an overview of the Machine Tools market with detailed market segmentation by product type, industry, and automation, and geography. The report provides key statistics on the market status of the leading Machine Tools market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
- ?Based on product type, the market is segmented as milling machines, grinding machines, drilling machines, turning machines, and electrical discharge machines. ?On the basis of the industry, the market is segmented as sheet metals, capital goods, automotive and transportation, and energy. ?The market on the basis of the automation is classified as CNC machine tools, and conventional machine tools.
Drivers
- ?The high growth of the manufacturing industries is driving the growth of the Machine Tools market. ?The increase in vehicle production is propelling the growth of the market. ?Restraints?Initial Investment Cost of HighoEnd Machines is estimated to be a restraint to the global Machine Tools market.
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market distribution channel and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, AsiaoPacific (APAC), the Middle East and Africa (MEA), and South America. The Machine Tools market by each region is later subosegmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i. e. , drivers, restraints, opportunities, and future trends. The report also provides exhaustive Porter's Five Forces analysis, highlighting the factors affecting the Machine Tools market in these regions.
IMPACT OF COVID-19 ON MACHINE TOOLS MARKET
The outbreak of the COVID-19 has severely impacted the manufacturing, and construction industries in the year 2020. Few companies have already announced possible delays in product deliveries and slump in future sales of their products. Further, the shutdown of various plants and factories has affected the global supply chains and negatively impacted the manufacturing, and delivery schedules for specific periods. However, as economies started to open in 2021, government initiatives and funding to stabilize the condition supported the market demand in a pandemic situation. Improved metal cutting and forming machining techniques by key players would create symbolic opportunities for the machine tools market in the coming years and is anticipated to bolster the Machine Tools market during the post pandemic era.
MARKET PLAYERS
The report covers key developments in the Machine Tools market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from Machine Tools market are anticipated to lucrative growth opportunities in the future with the rising demand for Machine Tools in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the Machine Tools market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- ?AMADA HOLDINGS CO. ,LTD. ?DMG Mori Co Ltd?Doosan Corporation?GF Machining Solutions Management SA?Hyundai WIA?JTEKT Corporation?Komatsu NTC Ltd. ?Makino Inc. ?Okuma America Corporation?Schuler AG