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Machine Tools Market By Control Type (Conventional Machines, CNC Machines), By Product Type (Metal Cutting Tools, Metal Forming Machines), By Industry Vertical (Automotive, Aerospace & Defense, Electrical & Electronics Manufacturing, Consumer Goods, Machine Tools & Parts Manufacturing, Shipbuilding, Others) - Growth, Share, Opportunities & Competitive Analysis, 2018 - 2026

Robust Industrial Manufacturing and Processing Sector in Asia Pacific to Ensure Machine Tools Market Growth:

The machine tools market was valued at US$ 83.70 billion in 2017 and is expected to grow at a CAGR of 4.5% between 2018 and 2026. The market is highly driven by the consistently rising industrial manufacturing sector worldwide. The revival of the automotive industry (in terms of production) has played a major role in ensuring robust demand for related machine tools. Further, the availability of a wide range of machine tools in both CNC and manual control configurations has ensured strong penetration of these tools across a wide array of industry verticals. The market would continue to grow strongly over the forecast period of manufacturers made consistent efforts to improve their products. The market is mainly governed by Asia Pacific, Western Europe, and the U.S., collectively commanding over 80% of the global market.

Market Synopsis:

Metal-Cutting Machine Tools Segment to Retain Dominant Position:

The metal-cutting tools segment led the overall machine tools market worldwide in 2017, contributing to nearly 2/3 of the total market value. Industrial sectors, including automotive, aerospace and defense, machine tools and parts manufacturing, and several others, have material cutting as a major application. With consistent growth observed across these verticals, the metal-cutting tools segment would continue to exhibit promising growth over the forecast period. The segment comprises a variety of machines, including drilling and boring, lathes, milling and machining centers, grinding, lapping, honing, and polishing machines, and others.

With a market share of more than 50%, Asia Pacific dominates.

Asia Pacific leads the overall machine tool market worldwide, accounting for more than 50% of the total market value as of 2017. The presence of a huge industrial manufacturing sector encompassing automotive, aerospace and defense, parts manufacturing, electrical and electronics, and several others primarily governs the market here. Due to factors such as the abundant availability of resources and cheap labor, the manufacturing sector here is expected to continue flourishing over the following years, thereby enabling the region to retain its dominance. China plays the most prominent role in the Asia Pacific as well as the global machine tool market. China has emerged as the world's largest consumer and producer of machine tools as its manufacturing sector has expanded over the decades.

Europe follows the Asia Pacific in terms of revenue in the overall machine tool market. Prominent markets for machine tools in the region include Germany, Italy, France, the U.K., Spain, Russia, and Poland, among others. The demand here is mainly backed by the presence of the automotive, aerospace, and electrical and electronics manufacturing sectors. Further, North America is expected to exhibit promising growth over the forecast period. In August 2017, US manufacturing companies purchased (ordered) machine tools worth nearly US$ 380 million, a 14.3% increase over August 2016. This is attributed to continued growth in industrial production here since 2016.

Geographic Expansion and Service Improvement Will Remain the Primary Strategies:

The overall machine tool market is highly competitive in nature, with major players emphasizing the development of more efficient automated products. CNC machines have seen tremendous penetration across various verticals over the years. Subsequently, market players' focus moved to develop sophisticated CNC machine tools. Companies manufacture sophisticated machine tools and follow a trend of exhibiting them at tradeshows and other such events. In addition, geographic expansion is another prominent strategy observed in the market, with the aim of serving a wide array of customers worldwide. The majority of the companies are involved in expanding their network of distribution to ensure their presence across multiple geographies. For instance, in January 2018, Toyoda Americas Corporation announced Stone Machinery, a machine tool distributor in the U.S., as its new distributor. The partnership allows the company to increase its reach in states such as Minnesota, North Dakota, South Dakota, Iowa, and Western Wisconsin.

Periods of History and Forecast:

This research report presents the analysis of each segment from 2016 to 2026, considering 2017 as the base year for the research. The compound annual growth rate (CAGR) for each of the respective segments was calculated for the forecast period from 2018 to 2026.

Report Scope by Segments:

The machine tools market report provides market size and estimates based on market dynamics and key trends observed in the industry. The report provides a holistic view of the global machine tool market based on control type, product type, industry vertical, and geography. Key segments covered in the report are as follows:

Key questions are answered in this report.

  • What was the market size of machine tools in 2017, and what is the forecast up to 2026?
  • Which is the largest regional market for machine tools?
  • What are the top consuming and producing countries for machine tools?
  • What are the key market trends observed in the machine tool market?
  • Which are the most promising control type and product types in the machine tool market?
  • Who are the key players leading the market?
  • What are the key strategies adopted by the leading players in the market?

This report's distinct data points

  • Statistics on industrial sectors (such as automotive, aerospace, and defense, etc.) worldwide
  • Top-producing countries for machine tools
  • Top consuming countries for machine tools
  • Attractive investment opportunities for product type segments and geography
  • Comparative scenario for all the segments for years 2017 (actual) and 2026 (forecast)

Frequently Asked Questions:

The market for Machine Tools is expected to reach US$ 83.70 Bn in 2026.

The Machine Tools market is expected to see significant CAGR growth over the coming years,at 4.5%.

The report is forecasted from 2018-2026.

The base year of this report is 2017.

3M Company,Allied Machine & Engineering Corporation,Amada MT,ANCA Pty Ltd.,Dalian Machine Tool Group Corporation are some of the major players in the global market.

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Godaddy
Published Date:  Jun 2018
Category:  Automation & Process Control
Report ID:   59196
Report Format:   PDF
Pages:   120
Rating:    4.3 (65)
Delivery Time: 24 Hours to 48 Hours   
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