Dublin, March 22, 2022 (GLOBE NEWSWIRE) -- The "Machine Tools - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
Global Machine Tools Market to Reach $87.4 Billion by 2027
Amid the COVID-19 crisis, the global market for Machine Tools estimated at US$67.6 Billion in the year 2020, is projected to reach a revised size of US$87.4 Billion by 2027, growing at a CAGR of 3.7% over the analysis period 2020-2027. Machining Centers, one of the segments analyzed in the report, is projected to record a 3.7% CAGR and reach US$18.5 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Lathe Machines segment is readjusted to a revised 4.1% CAGR for the next 7-year period.
The U.S. Market is Estimated at $6.6 Billion, While China is Forecast to Grow at 4.5% CAGR
The Machine Tools market in the U.S. is estimated at US$6.6 Billion in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$32.3 Billion by the year 2027 trailing a CAGR of 4.5% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2.2% and 3.4% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 2.6% CAGR.
Bending & Forming Machines Segment to Record 4.3% CAGR
In the global Bending & Forming Machines segment, USA, Canada, Japan, China and Europe will drive the 4.1% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$6.9 Billion in the year 2020 will reach a projected size of US$9.2 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$12.8 Billion by the year 2027, while Latin America will expand at a 4.1% CAGR through the analysis period.
Select Competitors (Total 412 Featured)
- Ace Micromatic Group
- Allied Machine & Engineering Corporation
- Amada Co, Ltd.
- Amada Machine Tools America, Inc.
- Chiron Group SE
- Dalian Machine Tool Group Corporation
- DMG Mori Co., Ltd.
- Doosan Machine Tools Co. Ltd.
- Electronica Hitech Engineering Pvt. Ltd.
- FANUC Corporation
- FANUC America Corporation
- GF Machining Solutions Management SA
- Gleason Corporation
- GROB-WERKE GmbH & Co. KG
- Hardinge, Inc.
- Jones & Shipman Hardinge Ltd.
- Haas Automation, Inc.
- Hyundai WIA Co. Ltd.
- JTEKT Corporation
- Kennametal Inc.
- Komatsu Ltd.
- Makino Milling Machine Co. Ltd.
- Okuma Corporation
- Otto Bihler Maschinenfabrik GmbH & Co. KG
- Sandvik AB
- Sandvik Coromant
- Schuler AG
- Shanghai Machine Tool Works Ltd.
- Shape Technologies Group
- Sodick
- Spinner Machine Tools GmbH
- TAJMAC-ZPS, a.s.
- Trumpf Group
- Walter AG
- Yamazaki Mazak Corporation
Key Topics Covered
I. METHODOLOGY
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- Influencer Market Insights
- World Market Trajectories
- COVID-19 Outbreak Poised to Dent Market Prospects in the Immediate Term
- An Introduction to Machine Tools
- Key Product Segments
- Segmentation by Machine Price & Precision
- Key End Use Sectors
- Machine Tools: Market Fortunes Closely Linked to Manufacturing Sector & Economic Environment
- Recent Market Activity
- The "Great Lockdown" of 2020 Crushes the Global Economy
- World GDP Growth Rates in % for the Years 2019 and 2020 by Country/Region
- Global Purchasing Managers' Index (PMI) Points for the Years 2018 through 2020
- What Does This Means for Manufacturing?
- Despite Discouraging Short-Term Outlook, Long-Term Growth Prospects Remain Optimistic
- Global Machine Tools Market (2019E): Percentage Breakdown of Dollar Production by Country
- Industry 4.0 and its Impact on Machine Tools Industry
- A Review of Market Performance over the Past Decade and a Half
- Competitive Scenario
- Machine Tools: A Fragmented Marketplace
- Vendors Emphasize Product Innovations & Enhancements to Maintain Competitive Edge
- Service & Support Emerge as Prime Focus Areas
- Product Pricing Continues to be Key Business Strategy
- Vendors Reinforce Distribution Channels
- Machine Tools - Global Key Competitors Percentage Market Share in 2022 (E)
- Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
- Reshoring Drives Growth Prospects in Developed Markets
- Rapid Mushrooming of Job Shops in Developing Countries Poised to Benefit Machine Tools
- Automotive Production in Developing Countries Augurs Well for Machine Tools
- Switch to Electric Vehicles (EVs) May Affect Demand of Machine Tools
- Aerospace Industry: COVID-19 Plays Spoilsport to Airlines Market Affecting the Machine Tool Industry
- Emphasis on Specialized Aerospace Materials to Spur Demand for Sophisticated Machine Tools
- Projected Long-Term Growth in the Semiconductor Industry to Drive Future Demand
- Heavy Equipment/Machinery Manufacturing Industry Promises Bright Prospects
- Developments in Renewable Energy Help Spur Market Opportunities
- Technology Refinements Boost Demand for Numerical Control (NC) Machine Tools
- Advent of 3D-Printing Machines: Marks the Emergence of Next Generation Machine Tools
- Steady Growth Anticipated for Multitasking Machine Tools
- Smart Machines Grow in Popularity
- Adoption of Predictive Analytics Drives Market Growth
- Wide-ranging Benefits Fueling Demand for CNC Machine Tools
- CNC Machines Finds Application in Wide Spectrum of Application Areas
- CNC Machines Help Improve Performance and Productivity
- Retrofit Market Keeps CNC Machinery Sales Alive
- Robotic-Assisted Technology and Automation Spurs Growth
- Trends Across Major Product Markets
- Metal Cutting Tools Market: An Overview
- Steady Growth Predicted for Metal Cutting Machines Market over the Long Term
- Surging Automation in End-Use Industries Drive Growth in the Global Lathe Machines Market
- Carbide Tools: Most Sought After
- High Speed Steel Cutting Tools: Hopes Pinned onto Powder Metallurgical HSS to Spearhead Growth
- Rising Popularity of Carbon Fiber-Reinforced Polymers Bodes Well for Advanced Cutting Tools
- Innovative Pricing Strategies: Need of the Hour for Cutting Tool Vendors
- Grinding Machines Market: An Overview
- Strong Opportunities in Orthopedic Implant Manufacturing over the Long Term
- Advanced Grinding Techniques Spearhead Growth
- Shortage of Skilled Labor Drives Automation Trends in Grinding Machinery
- Digitalization and the Future of Machining
- Metal Forming Machine Tools: An Overview
- Laser Cutting Machines Market: An Overview
- Asia-Pacific to Drive Market for Laser Cutting Machine Tools
- Ultrashort Pulsed Laser Technology Gains Popularity
- Fiber Laser Technology Gains Prominence at the Expense of CO2 Laser Technology
- Adoption of Nanosecond Pulsed Fiber Lasers Poised to Grow Rapidly
- Waterjet Cutting Machines Market: An Overview
- Advanced Machines to Drive Growth in Waterjet Cutting Machinery Market
- Expanding Applications to Spur Long Term Growth in the Market
- Excellence in Technology: Critical to Future Evolution of Machine Tools Industry
- Technology Innovation: Key to Growth in the Market
- Connected, Automated Machines Facilitate Machine Tool Innovations
- Innovations that Changed Production Processes
- Technology Trends Shaping the Future of Manufacturing Sector
- Modern Safety Innovations in Machine Tools
- Select Latest Innovations
- Brief Note on Distribution and Sales Channels
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
IV. COMPETITION
- Total Companies Profiled: 412
For more information about this report visit https://www.researchandmarkets.com/r/8n3d1m
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