Machine Tools Market Product Type (Metal Cutting, Machining Centers & Related, Laser, EDM, Lathe & Other), End Use (Automotive & Transportation, Electrical & Electronic, Mechanical, General Manufacturing & Other) and Region – Forecast 2020-2030
The global machine tool market was valued at ~US$72 billion at the end of 2019 and is projected to exceed US$99 billion by the end of the forecast period 2020-2030. The automotive and transportation sector is estimated to be the most lucrative end use for the global machine tool market, accounting for 36% of the total demand pie. In addition, manufacturers are driving demand for low-power machine tools by adopting green manufacturing to reduce overall operating costs using energy-efficient processes that can significantly reduce energy and utility bills. However, the recent COVID-19 pandemic has caused production shortages along with supply chain disruptions for several industries, such as the automotive sector. However,
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Key highlights of the machine tool market
- The global machine tool market is expected to create over $26 billion in absolute $ opportunity and is projected to expand 1.4 times from 2020 to 2030.
- Metal cutting machine tools are expected to exceed US$94 billion in market value by the end of 2030.
- The electrical and electronic end-use segment is expected to grow, earning 171 BPS over the forecast period.
- South Asia is expected to grow 1.2 times faster than East Asia. However, East Asia is expected to account for a major portion of the demand pie by the end of the forecast period.
- The automotive and transportation sector is expected to create an absolute $ opportunity of ~US$ 7.5 billion between 2020 and 2030.
“The ongoing global COVID-19 pandemic will delay the reopening of the economy. In addition, companies with large production and sales footprints in Europe and China are seeing a direct impact on machine tool sales, imports and exports. However, the slow but fast Fact.MR analyst said, “The recovery is expected in China, which will put the machine tools to good use.”
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Product launches that serve as key growth levers
Key players in the machine tool market include Komatsu Limited, DMG Mori, Okuma Corporation, TRUMPF Group, Hyundai WIA Corporation, and Doosan Machine Tools. Prominent machine tool manufacturers make great use of their R&D efforts and launch new products to bring constant changes to their product lines in response to today’s dynamic industry trends. for example,
- In 2020, United Grinding and Ewag developed a new product, the Laser Line Ultra, to simplify the production of ultra-compact cutting tools. This newly developed product uses an 8-axis configuration and a picosecond laser to incorporate complex microscopic geometries into cutting tools.
- In 2020, Doosan Machine Tools expanded its product portfolio by introducing the DNM 4500L and DNM 5700L. The new DNM series products are designed for fast and precise machining of a variety of workpieces.
A more valuable insight into the machine tool market
Fact.MR provides an unbiased analysis of the global machine tool market in New Products, presenting historical demand data (2015-2020) and forecast statistics for the period 2020-2030. This study provides essential insights into the machine tool market based on product type (metal cutting machine tools (machining centers, lasers, EDM and related, lathes and other metal cutting), metal forming machine tools (presses, punches and shears). , bending and forming machines, other metal forming) and end uses (automotive and transportation, electrical and electronic, mechanical, general manufacturing and others) span seven major regions.
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The key players analyzed in the Machine Tools Market research:
- Train Co., Ltd.
- maid group
- NIBE group
- Panasonic Corporation
- Mitsubishi Electric Corporation
- Daikin Industrial Co., Ltd.
- Glen Dimples Group
- Viessmann works GmbH & Co KG
- Flamingo Heat Pump
- efficiency main
- Ingersoll Rand, Plc.
- Melrose Industries PLC.
This report covers machine tool market insights and assessments such as: This is beneficial to all participants involved in the Machine Tools market.
- Data on recently introduced regulations and their impact on key industries and on-demand machine tools
- Latest industry analysis of Machine Tools market including key analysis of market drivers, trends and influencing factors
- Analysis of key trends in the major industrial machine tool market and changing consumer preferences.
- Changing machine tool demand and consumption of various products
- Key Trends Highlighting Funding by Leading Investors in Multiple Countries
- New investment opportunities in different technologies and types of products or services
- Comprehensive data and competitive analysis of major machine tool players
- US machine tool market sales will grow at a steady pace, driven by growing consumer confidence and economic recovery.
- Europe’s machine tool demand forecast remains stable as many countries such as the UK, France and Germany focus on boosting growth
Key Questions in Machine Tools Market Research Report:
- What are the current scenarios and key trends of the Machine Tools market industry?
- What key strategies are businesses adopting to expand their consumer base?
- What are the key categories and future potentials of the Machine Tools market?
- What are the key Machine Tools market drivers and what are their projected impacts in the short, medium and long term?
- What is the size of the Machine Tools market and what are the opportunities for the key players?
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