The latest report by IMARC Group, titled “Machine Tools Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, offers a comprehensive analysis of the industry, which comprises insights on the global machine tools market. The report also includes competitor and regional analysis, and contemporary advancements in the global market.
The global machine tools market reached a value of US$ 91 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 123 Billion by 2027, exhibiting at a CAGR of 4.91% during 2022-2027. Machine tools represent the stationary and power-driven equipment used for cutting metals or other hard materials into identical shapes and sizes. They generally range from small workbench-mounted instruments to large devices that perform various operations, such as forming, grinding, drilling, abrading, nibbling, etc. Machine tools assist in minimizing the amount of human interaction and enhancing product uniformity. Consequently, they find wide-ranging applications across several sectors, including automotive, precision engineering, aerospace, defense, etc.
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 utilization of modern designs and simulation engineering software for ensuring the accuracy, sturdiness, reliability, etc., of the product is primarily driving the machine tools market. Additionally, the escalating need for precision manufacturing to improve productivity and meet quality standards is further catalyzing the market growth. Besides this, the growing adoption of machine tools with linear drives, owing to their numerous associated benefits, such as minimal vibrations, reduced scrap generation, faster and automatic repeatable cutting operations, etc., when compared to their non-linear counterparts, is acting as another significant growth-inducing factor.
Moreover, various foreign companies are setting up their production facilities in developing countries, on account of the easy availability of cheap labor, low raw material costs, minimized tax rates, etc., which is also augmenting the global market. Apart from this, the emerging trend of industrial automation is anticipated to fuel the machine tools market over the forecasted period.
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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
Key Market Segmentation Breakup by:
- Metal Cutting
- Metal Forming
- CNC (Computerized Numerical Control)
End Use Industry:
- Aerospace and Defense
- Electrical and Electronics
- Consumer Goods
- Precision Engineering
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, 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 (2016-2021)
- Market Outlook (2022-2027)
- COVID-19 Impact on the Market
- Porter’s Five Forces Analysis
- Historical, Current and Future Market Trends
- Market Drivers and Success Factors
- SWOT Analysis
- Structure of the Market
- Value Chain Analysis
- Comprehensive Mapping of the Competitive Landscape
TOC for the Report:
- Scope and Methodology
- Executive Summary
- Global Market
- SWOT Analysis
- Value Chain Analysis
- Price Analysis
- 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.
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
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