Wednesday , September 23 2020
Home >> News >> Machine Tools Market will be growing at a CAGR of 4.5% during the forecast 2018 to 2026

Machine Tools Market will be growing at a CAGR of 4.5% during the forecast 2018 to 2026

According to a new market research report published by Acute Market Reports “Machine Tools Market – Growth, Future Prospects, and Competitive Analysis, 2018 – 2026”, the global machine tools market is set to hit US$ 120 Bn mark by 2026.

Market Insights

The overall machine tools market is highly governed by the continually rising industrial manufacturing and processing sector worldwide. The Asia Pacific estimated to remain the frontrunner in the market throughout the forecast period with strong industrial sectors across China, Japan, South Korea, Southeast Asia, and India. The region contributes to more than 50% of the total market value generated worldwide, with China being the largest country-level market. The region has portrayed tremendous growth in the industrial manufacturing sector for the past few decades, making it the largest consumer as well as producer of machine tools. With a rapidly growing manufacturing sector in India and Southeast Asian countries, the region would retain its dominant position in the market over the forecast period.

Browse Full Report Originally Published by Acute Market Reports at https://www.acutemarketreports.com/report/machine-tools-market

On the basis of product type, the machine tools market is led by a metal cutting segment accounting for more than 60% of the total market value. The segment comprises machine tools such as drilling & boring, lathe, milling & machining centers, grinding, lapping, honing & polishing machines and others. Based on industry verticals, automotive, consumer goods manufacturing and machine tool & parts manufacturing represent the most promising segments. Further, based on geography, the market is segmented into North America, Europe, Asia Pacific and Rest of the World (RoW). The market is currently led by the Asia Pacific owing to factors such as a huge industrial sector and a large number of machine tools manufacturers. The market here is mainly backed by China and Japan. With a rapidly growing industrial manufacturing sector in India and Southeast Asia, the region would also exhibit the highest growth rate during the forecast period.

The overall machine tools market is quite fragmented in nature with the presence of numerous international as well as regional players. This has ensured a competitive environment for market players. New product development is one of the most prominent strategies adopted by major market players. Due to consistently increasing penetration of CNC machines, most of the companies strive to develop more sophisticated automated products in order to maintain a competitive edge. In addition, the expansion of the distribution network is another prominent strategy adopted by the market players.

Access Free Sample Copy of Research Report: https://www.acutemarketreports.com/sample-request/59196

List of Companies Covered:

  • 3M Company
  • Allied Machine & Engineering Corporation
  • Amada Machine Tools
  • ANCA Pty Ltd.
  • Dalian Machine Tool Group Corporation
  • DANOBAT Group
  • Delapena Group
  • Doosan Machine Tools Co., Ltd.
  • FANUC Corporation
  • Junker Group
  • JTEKT Corporation
  • Kellenberger & Co. AG
  • Komatsu Ltd.
  • Korber AG
  • Koyo Machinery
  • Okuma Corporation
  • Schuler Group
  • Shenyang Group
  • Toyoda Americas
  • WMW Machinery

Market Segmentation:

By Control Type

  • Conventional Machines
  • CNC Machines

By Product Type

  • Metal Cutting Tools
    • Drilling & Boring Machines
    • Lathe Machines
    • Milling & Machining Centers
    • Grinding
    • Lapping, Honing & Polishing Machines
    • Gear Cutting
  • Metal Forming Tools
    • Bending & Forming Machines
    • Punching & Shearing Machines
    • Metal Working Presses
    • Stamping

By Industry Vertical Type

  • Automotive
  • Aerospace & Defense
  • Electrical & Electronics Manufacturing
  • Consumer Goods Manufacturing (Ceramics, Plastics, Glass, etc.)
  • Machine Tools & Parts Manufacturing
  • Shipbuilding
  • Others (Construction, Mining, etc.)

By Geography Segment Type

  • North America (the U.S., Rest of North America)
  • Europe (U.K., Germany, France, Rest of Europe)
  • Asia Pacific (China, Japan, India, Rest of Asia Pacific)
  • Rest of the World (the Middle East & Africa, Latin America)

Key questions answered in this report

  • What was the market size of machine tools in 2017 and forecast up to 2026?
  • Which is the largest regional market for machine tools?
  • What are the top consuming and producing countries for machine tools?
  • What are the key market trends observed in the machine tools market?
  • Which are the most promising control type and product type in the machine tools market?
  • Who are the key players leading the market?
  • What are the key strategies adopted by the leading players in the market?

Access Free Sample Copy of Research Report: https://www.acutemarketreports.com/sample-request/59196

Leave a Reply

Your email address will not be published. Required fields are marked *