The MarketWatch News Department was not involved in the creation of this content.
May 21, 2021 (Market Stats News via COMTEX) —
According to a research report “Machine Tools Market (By Product: Laser Machines, Lathe Machines, Grinding Machines, Welding Machines, Winding Machines and Milling Machines; By Application: Construction Equipment, Automotive, Industrial, Aerospace & Defense, and Power & Energy; By Technology: CNC and Conventional) – Global Industry Analysis, Size, Share, Growth, Trends Analysis, Regional Outlook and Forecasts, 2021 – 2030published by Precedence Research, by value, the machine tools market is anticipated to flourish at a significant CAGR of 4.4% during the forecast period 2021 to 2030 and it is projected to reach US$ 115 billion by 2030.
The research report systematically covers machine tools market size, sales, growth insights, trends analysis. The study gives an elaboration on the market share analysis, demand-supply scenario, production and value chain analysis, key drivers, restraints, emerging trends, pricing structure, opportunities, profit margins, prominent business, and recent technological progress.
Machine tools are utilized in a number of sectors including aerospace, automotive, precision engineering, electronics, and others. Incessant development in these sectors along with the investigation of new oil and gas fields are the principal growth factors for market expansion. Furthermore, the amalgamation of 3D printing technology has assisted in curtailing the amount of material employed for producing these tools in current years. For example, Yamazaki Mazak, which is a Japanese machine tool producer, uses 3D printing in the production of its CNC machines. Numerous companies are familiarizing automation inside their manufacturing processes to upsurge their output and address quality standards. This has led to an surge in their profit margins. Laser cutting systems find application in plentiful areas where parts need to be machined with greater precision for improved edge quality.
Get the Sample Pages of Report for More Understanding@ https://www.precedenceresearch.com/sample/1242
Demand for machine tools accumulates from primary and intermediate goods manufacturers. The main user industries are capital goods, automotive, and consumer durables industries. Protruding consumers of machine tools in the intermediate goods areas are ball and roller bearings, auto components and electronic components parts. Major users of machine tools in this area include ball, roller bearings, auto components, electrical and electronic components, power-driven pumps, industrial valves, earth moving machinery and compressors among others.
Escalating manufacturing sector and technological progressions in machine tools including multi axis and robotic arm are few of the foremost factors boosting the growth of the machine tool industry around the world. The budding demand for metal cutting tools on account of augmented usage of metals in several sectors also promises well for growth of the market. The incorporation of Computer-Aided Manufacturing in machine tools to decrease the time needed for manufacturing work pieces and to safeguard easy production of micro components is evolving as a key trend in the market.
Additionally, manufacturers of machine tools are developing condensed and well-equipped machine tools that can program as per CAM/CAD software. These automatic CNC machine tools comprise tool changer that aids the machine to conduct several operations by means of a single machine. These features related with CNC machine tools rises its demand and certainly impact the machine tools market development.
- Among technology segments, CNC segment led the global market with more than 75% revenue share in 2019. The intensifying levels of venture funding being established by corporations developing software for CNC machines promise well for the growth of this technology segment
- Asia Pacific is likely to rule the global machine tools market arena on account of upsurge in the amount of metal cutting process businesses in the major economies of the region
- Out of different types of machines, laser machines are predicted to record the highest growth rate due to probable ability of the laser technology to safeguard sophisticated precision and better cuts on the surface of the work pieces.
- Milling machines are projected to produce the major sales revenue in the global market as milling machines are principally employed in the metal cutting process in many sectors
Asia Pacific is likely to led the global machine tools market on account of upsurge in the numbers of metal cutting process businesses in this region. APAC is hub for most of the principal machine tool manufacturers and is predicted to rule the marketspace over years to come. China is one of the chief consumers of machine tools and is accelerating the market growth in Asia Pacific. Growth of automotive sector in APAC had an optimistic impact on the machine tools area, as automotive manufacturers have been seeking to upgrade and increase capabilities. This trend is likely to endure in the future as well, with MNCs such Nissan, as BMW, Audi, Renault seeking to establish themselves in the Indian market. Such development indirectly supports the demand for various machine tools in this region.
Asia Pacific is anticipated to recuperate at a faster growth rate in comparison with other regions post the COVID-19 pandemic crisis throughout the prediction period. Even with COVID-19 outbreak originating from China, the nation has been positively employing strategies to manage the spread. Asia is one of the largest automotive producer and China has slowly initiated its production actions with lowest workforce. This initiative will help to rebound machine tool market in this region during years to come.
Key Players & Strategies
TRUMPF GmbH + Co. KG, Okuma Corp., and Yamazaki Mazak Corp are few of the leading vendors in this marketplace. Machine tool industry is capital intensive, knowledge and technology intensive field with demand for high research and development activity. The fast-tracking development impetus will offer enormous business openings to the vendors.
- Laser Machines
- Lathe Machines
- Milling Machines
- Grinding Machines
- Welding Machines
- Winding Machines
- Construction Equipment
- Aerospace & Defense
- Power & Energy
- Computer Numerical Control (CNC)
- United Kingdom
- Rest of Europe
- Southeast Asia
- Rest of Asia Pacific
- Rest of Latin America
Middle East & Africa (MEA)
- North Africa
- South Africa
- Rest of Middle East & Africa
Why should you invest in this report?
The company’s expert’s team has been always monitoring the machine tools market for few years, which has assisted them to include actionable insights that can consult the regarded reader with the influence to grow their venture with a high CAGR and gain stellar ROI (Return on initial capital investment) in the market.
If you are aiming to enter the global machine tools market, this report is a comprehensive guide that provides crystal clear insights into this niche market. All the major application areas for machine tools are covered in this report and information is given on the important regions of the world where this market is likely to boom during the forecast period so that you can plan your strategies to enter this market accordingly.
Besides, through this report, you can have a complete grasp of the level of competition you will be facing in this hugely competitive market and if you are an established player in this market already, this report will help you gauge the strategies that your competitors have adopted to stay as market leaders in this market. For new entrants to this market, the voluminous data provided in this report is invaluable.
To Buy the Up-to-date Full Report with Pre And Post COVID-19 Market Analysis@ https://www.precedenceresearch.com/checkout/1242
Precedence Research is a worldwide market research and consulting organization. We give unmatched nature of offering to our customers present all around the globe across industry verticals. Precedence Research has expertise in giving deep-dive market insight along with market intelligence to our customers spread crosswise over various undertakings. We are obliged to serve our different client base present over the enterprises of medicinal services, healthcare, innovation, next-gen technologies, semi-conductors, chemicals, automotive, and aerospace & defence, among different ventures present globally.
Apt 1408 1785 Riverside Drive Ottawa,
ON, K1G 3T7, Canada
USA: +1 9197 992 333
The post Machine Tools Market Size is Forecasted to Reach USD 115 Billion by 2030 first appeared on Market Stats News.
The MarketWatch News Department was not involved in the creation of this content.