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The global machine tools market size is anticipated to grow USD 73.5 billion in 2027 from USD 119.2 billion in 2020, at a CAGR of 8.4% from 2021 to 2027. The machine tools industry plays an essential role in the global manufacturing industry. The competitiveness in the manufacturing industry is highly dependent on the quality of tools used in metal forming and metal cutting activities. <br><br>Get Full PDF Sample Copy of Report:https://www.marketstatsville.com/request-sample/machine-tools-market<br><br>
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Market Research Report EXCLUSIVE EDITION Global Machine Tools Market Research Report Global Industry Analysis, Forecast and Trends, 2022-2030 © Statsville Consulting Private Limited www.marketstatsville.com | sales@marketstatsville.com | +1-580-205-2707 | +91-702-496-8807
Global Machine Tools Market © 2020 Statsville Consulting Private Limited Market Statsville Group (MSG) A part of Statsville Consulting Private Limited American Office American Office – 416, East Standsberry Street, Perkins, Oklahoma 74059, USA EMEA EMEA– 1165 Budapest 16 Diósy Lajos u. 24., Europe Asia Asia- -Pacific Office Pacific Office – F-178 Subhash Marg C Scheme, Ashok Nagar, Jaipur, Rajasthan, 302001 www.marketstatsville.com Disclaimer Disclaimer: : Any information and/or material provided by Statsville Consulting Private Limited, including any and all the analysis and/or research from Market Statsville Group (MSG), is offered to a selected group of customers in response to orders for such information, material, analysis, and/or research. As a customer of Statsville Consulting, you acknowledge that our information, material, and/or services are for your internal use only, and not for any external use and/or dissemination, or general publication, and/or disclosure to any third parties. Any and all the information and/or material provided by Statsville Consulting are based on primary interviews and/or secondary research, and are, therefore, subject to fluctuation and variance. Statsville Consulting takes no responsibility for any incorrect information and/or material supplied to us by sources we rely on, and no part of our analysis or research may be given, lent, resold, or disclosed to any third parties, including non-customers, without explicit or written permission from Statsville Consulting. Unauthorized reproduction and/or transmission of our information, material, analysis, and/or research in any form and by any means, including photocopying, mechanical/electronic recording,or otherwise, without the explicit and written permission of Statsville Consulting, is expressly and clearly prohibited. Any use of the information, material, analysis, and/or research provided by Statsville Consulting is at your sole risk; you acknowledge that the information, material, analysis, and/or research is provided “as is” and that Statsville Consulting provides no warranty of any kind, express or implied, with regard to the information, material, analysis, and/or research, including but not limited to, merchantability and fitness for any purpose and/or use. At the end, Statsville Consulting will be responsiblefor the final decision of any action. © Statsville Consulting Private Limited www.marketstatsville.com | sales@marketstatsville.com | +1-580-205-2707 | +91-702-496-8807
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Machine Tools Market 2021: Industry Size, Regions, Emerging Trends, Growth Insights, Opportunities, and Forecast By 2027 Machine Tools Market by Tool (Metal Cutting and Metal Forming), by Metal Cutting (Machining Centers, Lathe), by Metal Forming (Bending & Forming, Pressing), by End-Users (Automotive, Industrial Machinery), by Region – Global Share and Forecast to 2027 Description Description The global machine tools market size is anticipated to grow USD 73.5 billion in 2027 from USD 119.2 billion in 2020, at a CAGR of 8.4% from 2021 to 2027. The machine tools industry plays an essential role in the global manufacturing industry. The competitiveness in the manufacturing industry is highly dependent on the quality of tools used in metal forming and metal cutting activities. The machine tools industry provides critical inputs to all sectors of manufacturing. The performance of the machine tools industry plays a significant role in the growth of the country's manufacturing sector. Many critical and high-priority end-use sectors such as automotive, heavy equipment, defense, aerospace, and casting require a strong machine tools industry to support their manufacturing. The machine tools manufactured vary in functionality, size, structure, speed of operation, control mechanism, and other factors. A machine tool is an assembly of multiple components, and no regulations mandate the usage of any particular component. Machine tools are indispensable to the industrial and manufacturing process. The industry outlook has changed drastically with technology. © Statsville Consulting Private Limited www.marketstatsville.com | sales@marketstatsville.com | +1-580-205-2707 | +91-702-496-8807
The industrial revolution modernized all kinds of equipment used in industries—concepts such as 'Industry 4.0' reconciled production with information technology and the internet. The main objectives of Industry 4.0 include individualization of requirements, flexibility in work, enhanced uptime of manufacturing, and accuracy in decision making. The commercialization of artificial intelligence pushed vendors to opt for tools capable of handling minor issues themselves. With a rising emphasis on this, vendors operating in the market are also revolutionizing their procedures by leveraging automated manufacturing systems. This has pushed the demand for advanced machine tools in the past. Get Full PDF Sample Copy of Report:https://www.marketstatsville.com/request-sample/machine-tools-market The machine tools market has witnessed decent growth in the past five years. Machine tools such as cutting and forming tools are being used in numerous industries, so their demand has maintained a steady growth rate. Over the last few= decades, the global machine tools market has witnessed the introduction of disruptive technologies such as AI and hardware integration. Smart precision tools that hasten manual operations for humans are the most disruptive. At present, the market is witnessing several innovations, with the introduction of co-bots (collaborative robots) being used for integration with machine tools. COVID-19 Impact on the Global Machine Tools © Statsville Consulting Private Limited www.marketstatsville.com | sales@marketstatsville.com | +1-580-205-2707 | +91-702-496-8807
The COVID-19 pandemic will cause cultural, political, and social changes that have not been seen in decades. Major sectors from finance have already experienced its effect on airlines. The pandemic has led to several casualties and negatively impacted many businesses worldwide. For instance, in mid- March 2020, US automakers declared a complete lockdown for a few Detroit production facilities. Therefore, the utilization of machine tools declined in 2020. This is one of the sharpest declines in the market after the economic recession of 2008. The automotive sector is one of the major shareholders among consumption industries of the machine tools market and has witnessed the hardest hit after World War II. The demand for automotive vehicles went down by more than 10% globally. The supply chain saw widespread disruptions due to lockdowns imposed across the globe. Further, the blow to travel, tourism, and production factories pushed the automotive market toward a deep recession. The second half of 2020 performed better than the first half. This is due to slight normalcy in business after H1 2020. However, the market is still under grave uncertainty, which is likely to hurt growth even further. Therefore, associated industries such as machine tools will take a hard hit due to COVID-19. Make an Enquire before Purchase @:https://www.marketstatsville.com/buy-now/machine-tools-market?opt=2950 Global Machine Tools Market Dynamics Drivers: Growth in Automotive Sector © Statsville Consulting Private Limited www.marketstatsville.com | sales@marketstatsville.com | +1-580-205-2707 | +91-702-496-8807
The growth in developing economies has played a significant role in developing the automotive sector across the globe. With the rising demand for automotive vehicles in emerging economies, vendors have promising opportunities to capitalize upon. Further, as the competition intensifies among several OEMs in developing economies, vendors have pushed themselves toward product differentiation. All these developments in the automotive sector will drive the consumption of machine tools in the region. Developments have been robust in emerging markets, with industrialization and foreign trade operations, especially in BRICS countries. China's large fiscal stimulus programs have rendered it the pioneer in emerging markets over the last few years. China has retained its status as the world's largest car market in recent times. India's automotive industry is competitive and rising rapidly. Many auto OEMs are entering the market to tap its huge potential. The economic growth in BRICS nations has propelled the growth rates for the automotive industry in present times. Restraints: Rise in Material Cost Raw materials constitute the single largest cost for machine tools. These costs comprise approximately 50%−60% of the overall cost of production. The key raw materials for the machine tools industry include ferrous and non-ferrous metals, particularly steel and aluminum. The production and sales of these raw materials witnessed significant fluctuations due to COVID-19. The volatility of raw material prices poses a severe threat to vendor margins. Other operating expenses such as wages of labor are also witnessing a sharp increase. All these factors burden vendors are striving to produce highly efficient power tools at affordable costs to cope with increasing competition in the market. © Statsville Consulting Private Limited www.marketstatsville.com | sales@marketstatsville.com | +1-580-205-2707 | +91-702-496-8807
Steel prices have become highly volatile in global markets. Consequently, input costs for many steel-consuming industries have fluctuated dramatically. Carbon steel is the predominantly used raw material in machine tools, and price fluctuations for carbon steel will have an adverse impact. Volatility in raw material price also affects the estimations and predictions of vendors and end-user industries, which disrupts their growth strategies. Therefore, fluctuations in raw material costs, specifically carbon steel, aluminum, and tungsten, could hinder the machine tools market’s growth. Opportunities: Industrial & Economic Growth in APAC Since the first industrial revolution in the late 18th century, the manufacturing sector has remained highly dominated by a few European countries and the US. These countries traditionally held immense control over key resources worldwide. They were better poised to foster industrial development and drive innovation through advancements in production technologies, materials, and end-user solutions. However, these countries have faced the challenge of demand and competitiveness over a period. The demographic dividend and market maturity put them at a disadvantage over fledgling economies with cheaper resources and huge end-user markets. These regions require a technology leap in terms of manufacturing. An additional evident trend from history is that countries that have attained a significant GDP per capita over a few decades have adopted structural shifts in the production & manufacturing sector, i.e., shifting over time from low technology subdivisions to high technology manufacturing. South Korea and Japan are key examples. © Statsville Consulting Private Limited www.marketstatsville.com | sales@marketstatsville.com | +1-580-205-2707 | +91-702-496-8807
In these countries, low-tech businesses typically dominate the low-income levels, offering large-scale service; productivity gains are majorly enabled by the high-tech industry, being majorly advocated by institutional and government reforms to escape the middle-income trap, which can considerably drive the market for machine tools in the coming years. Scope of the Report The study categorizes the machine tools market based on the tool, metal cutting, metal forming, technology, end-user, and region. By Tool Outlook (Revenue, USD Million, 2017-2027) Metal Cutting Metal Forming By Metal Cutting Outlook (Revenue, USD Million, 2017-2027) Machining Centers Lathe Grinding & Polishing Laser, Electrical Discharge Machines (EDMs), & Other Tools Other Metal Cutting Tools © Statsville Consulting Private Limited www.marketstatsville.com | sales@marketstatsville.com | +1-580-205-2707 | +91-702-496-8807
By Metal Forming Outlook (Revenue, USD Million, 2017-2027) Bending & Forming Pressing Punching & Shearing Other Metal Forming Tools By Technology Outlook (Revenue, USD Million, 2017-2027) CNC Metal Cutting Metal Forming NON-CNC Metal Cutting Metal Forming By End-Users Outlook (Revenue, USD Million, 2017-2027) Automotive Industrial Machinery Metal Industry Medical Industry Electrical & Electronics Heavy Equipment © Statsville Consulting Private Limited www.marketstatsville.com | sales@marketstatsville.com | +1-580-205-2707 | +91-702-496-8807
Aerospace & Defense Marine & Offshoring Others By Region Outlook (Revenue, USD Million, 2017-2027) North America (US, Canada, Mexico) South America (Brazil, Argentina, Colombia, Peru, Rest of Latin America) Europe (Germany, Italy, France, UK, Spain, Poland, Russia, Slovenia, Slovakia, Hungary, Czech Republic, Belgium, the Netherlands, Norway, Sweden, Denmark, Rest of Europe) Asia Pacific (China, Japan, India, South Korea, Indonesia, Malaysia, Thailand, Vietnam, Myanmar, Cambodia, the Philippines, Singapore, Australia & New Zealand, Rest of Asia Pacific) The Middle East & Africa (Saudi Arabia, UAE, South Africa, Northern Africa, Rest of MEA) By tool type, the metal cutting segment is projected to account for the largest market share By tool type, machine tools are majorly categorized into two types: metal cutting and metal forming. In 2020 metal cutting is accounted for the highest market share and has a market share of 72.1%. Metal cutting tools are higher in demand and constitute a variety of machines with different functionalities. Cutting tools are characterized by technological improvements, with many companies vying for larger market shares. The use of CNC machines has gone up and is driving manufacturing competitiveness. CNC machines include milling, drilling, machining centers, CNC turning (CNC lathes), © Statsville Consulting Private Limited www.marketstatsville.com | sales@marketstatsville.com | +1-580-205-2707 | +91-702-496-8807
and grinding. The space and scrap reduction and high utilization rates are some driving factors for its adoption. The extensive usage of CNC machines is responsible for nearly two-thirds of its share of metal cutting tools in most countries worldwide. In most countries, metal cutting tools have a higher market share, taking over two-thirds of the sales contribution. The sales of metal cutting tools are substantial in critical industries such as aerospace, defense, automotive, shipbuilding, and other non- electrical industries. Also, metal cutting tools are customized to a large extent based on the requirements of end-use industries. Hence, a one-size-fits-all strategy is not prevalent in the industry. Request for Complete TOC and Figures & Graphs @ https://www.marketstatsville.com/table-of-content/machine-tools-market Middle East & Africa accounts for the highest CAGR during the forecast period Based on the regions, the global machine tools market has been segmented across North America, Asia-Pacific, Europe, South America, and the Middle East & Africa. Globally, Middle East & Africa is estimated to hold the highest CAGR in the global machine tools market during the forecast period. There are significant growth opportunities with potential markets such as Oman, Qatar, and Kuwait. Saudi Arabia is also set to become the leading manufacturing hub in the region. The government has invested over USD 70 billion to build six cities with regulatory adjustments and infrastructure to attract manufacturing companies. © Statsville Consulting Private Limited www.marketstatsville.com | sales@marketstatsville.com | +1-580-205-2707 | +91-702-496-8807
Thus, the growth of the manufacturing sector is expected to drive the demand for machine tools in the region. Saudi Arabia aims to attract foreign and private investments for construction projects, including buildings, oil, infrastructure, power, and oil. The economy of Qatar is expected to regain a healthy position in the market owing to advancing construction operations, especially for the 2022 FIFA World Cup. This will comprise stadium construction and other hotel projects, training camps, and transport hubs to accommodate visitors and players from other nations; all this is worth more than USD 10 billion. Moreover, the Qatar National Vision 2030 also focuses on widening infrastructure spending in the country. These expansion projects will drive the usage of machine tools for numerous purposes. Key Market Players The global machine tools market is dominated by Doosan Machine Tools Co. Ltd., AMADA Pvt. Ltd., Makino, JTKET Corporation, Georg Fischer Ltd., Komatsu NTC Ltd., OKUMA Corporation, Hyundai WIA, Schuler AG, Chiron Group SE, MAG IAS GmbH, GROB-WERKE GmbH & Co. KG, Haas Automation Inc., Gleason Corporation, Spinner Machine Tools, Dalian Machine Tools Group Corporation, Yamazaki Mazak Corporation, DMG MORI, Electronica Hitech Engineering Pvt. Ltd., Ace Micromatic Group. Request For Report Description @https://www.marketstatsville.com/machine-tools-market © Statsville Consulting Private Limited www.marketstatsville.com | sales@marketstatsville.com | +1-580-205-2707 | +91-702-496-8807
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