According to the new market research report by IndustryARC titled “Machine Tools Market By Product Type (Metal Cutting Tools, Metal Forming Tools, Special Machine Tools) By End-Use Industry (Automotive, Aerospace/Defence, Primary & Fabricated Metals, Electrical & Electronic Equipment, Others) & Geography-Forecast (2018-2023)”, the market is driven by growth of the automotive industry and increasing mining activities.
Asia Pacific dominates the Machine Tools Market
Asia Pacific dominates the Machine Tools Market during the forecast period. It is expected to generate revenue of $73.20 billion by 2023 at a CAGR of 6.9%. India and Japan are the main markets for machine tools in the region. Metal tools are used for cutting and shaping metals for manufacturing critical components to increase reliability in the end products. Presence of developing countries and their use of machinist tools in industries such as transportation, automation, and aerospace will also drive the Asia Pacific market. Automotive segment is the fastest growing segment in the region, whereas primary and fabricated metals is the dominant segment.
Selected Analysis done in the Machine Tools Market Report:
The automotive segment in 2016 generated revenue of $14.64 billion. It is expected to reach $30.73 billion by 2023 at a CAGR of 9.6%. In the automotive segment, the machine tools include gun drilling, precision surface grinding, milling, boring, and turning applications. These tools are used to manufacture mechanical components such as bodies, engines, gears boxes, and power trains for the automotive industry. The main factor driving the use of metal working tools in the automotive industry is the advent of computer numerical controls. Different parts in the automotive industry made through the CNC milling machine include gearbox cases, engine cylinder heads, transmission housings, engine locks, etc.
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Excerpts on Market Growth Factors
- Growing automotive production in developing economies will drive the growth of the milling machine.
- Increase in the mining activities and demand for drilling machines and earth movers enhance the growth of the machine tools in the coming years.
- Government regulations to attract investments in the manufacturing segment drive the demand for the Machine Tools Market.
- The need for components with advanced geometric design in the aerospace segment spurs the growth of machine tools.
Key players of the Machine Tools Market
Shenyang Machine Tools Company dominates the Machine Tools Market, followed by Dalian Machine Tools group and Amada Co. Ltd. Shenyang Machine Tools is a Chinese multinational company which produces boring and CNC milling tools. Dalian Machine Tools manufactures tools related to automotive, internal combustion engine, and agricultural machinery. Amada is a Japanese company that manufactures metal processing equipment and machinery.
Machine Tools Market is segmented as below
Growth in industrial machinery market will drive the demand for machine tools during the forecast period.
- Machine Tools Market Analysis By Product
1 .Metal Cutting Tools
2. Metal Forming Tools
3. Special Machine Tools
- Machine Tools Market Forecast By End use industry
3. Primary & Fabricated Metals
4. Electrical & Electronic Equipment
- Machine Tools Market Share By Geography(covers 19+ countries)
- Machine Tools Market Entropy
Companies Citied / Interviewed
- Allied Machine & Engineering Corp
- Amada Co. Ltd
- TRUMPF GMBH & CO. KG
- KOMATSU LTD
- YAMAZAKI MAZAK CORPORATION
- DMG MORI COMPANY LTD.
- FANUC CORPORATION
- JTEKT CORPORATION
- SHENYANG MACHINE TOOLS CO., LTD
- DALIAN MACHINE TOOL GROUP CORPORATION
- DOOSAN INFRACORE COMPANY LIMITED
- GF MACHINING SOLUTIONS
- Company 13
- Company 14
- Company 15+
What can you expect from the Machine Tools Market Report?
The Machine Tools Market Report is Prepared with the Main Agenda to Cover the following 20 points:
- Market Size by Product Categories & Application 11. Demand Analysis (Revenue & Volume)
- Market trends & Relevant Market Data 12. Country level Analysis
- Manufacturer Landscape 13. Competitor Analysis
- Distributor Landscape 14. Market Shares Analysis
- Pricing Analysis 15. Value Chain Analysis
- Top 10 End user Analysis 16. Supply Chain Analysis
- Product Benchmarking 17. Strategic Analysis
- Product Developments 18. Current & Future Market Landscape Analysis
- Mergers & Acquisition Analysis 19. Opportunity Analysis
- Patent Analysis 20. Revenue and Volume Analysis
Frequently Asked Questions:
- Does IndustryARC publish country or application based reports in Machine Tools segment?
Response: Yes, we do have separate reports as mentioned below:
- Machine Tools Market (2018-2023)
- Europe Machine Tools Market (2018-2023)
- Americas Machine Tools Market (2018-2023)
- Asia Pacific Machine Tools Market (2018-2023)
- Automotive Machine Tools Market (2018-2023)
- Aerospace/Defence Machine Tools Market (2018-2023)
- Does IndustryARC provide customized reports and charge additionally for limited customization?
Response: Yes, we can customize the report by extracting data from our database of reports and annual subscription databases. We can provide the following free customization:
- Increase the level of data in application or end user industry.
- Increase the number of countries in geography chapter.
- Find out market shares for other smaller companies or companies which are of interest to you.
- Company profiles can be requested based on your interest.
- Patent analysis, pricing, product analysis, product benchmarking, value and supply chain analysis can be requested for a country or end use segment.
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About IndustryARC: IndustryARC is a Research and Consulting Firm that publishes more than 500 reports annually, in various industries such as Agriculture, Automotive, Automation & Instrumentation, Chemicals and Materials, Energy and Power, Electronics, Food & Beverages, Information Technology, Life sciences &Healthcare.