Machine Tools Market 2021-2026: Share, Size, Growth, Key Players, Challenges, and Forecast - IMARC Group
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 is expected to exhibit moderate growth during 2021-2026. Looking forward, IMARC Group expects the global machine tools market to grow at a CAGR of around 4% during 2021-2026. Machine tools are power-driven metal forming or cutting equipment used for metals or other hard materials. The variety of machine tools ranges from small workbench-mounted instruments to large devices that are used in modern industries. Machine tools perform numerous operations, including cutting, drilling, abrading, forming, grinding, nibbling, etc. They help in enhancing product uniformity and minimizing the human interaction required at various stages of the process. In recent years, the mode of operation has evolved 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 increasing demand for machine tools from several end-use industries, such as aerospace, precision engineering, automotive, electronics, etc., is driving the global market. Furthermore, the emergence of advanced technologies, such as ultrasonics, lasers, plasma streams, etc., is also augmenting the product demand. Additionally, the incorporation of 3D printing technology has helped in reducing the amount of materials used for making these tools. Moreover, various companies are introducing automation in their manufacturing processes to improve productivity and meet the quality standards. Apart from this, numerous vendors are using simulation engineering software and modern designs to ensure the machines' accuracy, sturdiness, and reliability. This, in turn, is expected to fuel the market growth 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 (Germany, France, United Kingdom, Italy, Spain, Others)
- Europe (China, Japan, India, Australia, Indonesia, Korea, 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)
- Porter's Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- 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.