Machine Tools Market Outlook and Opportunities in Grooming Regions
Posted by sachi kaushik on March 23rd, 2021
The global machine tools market was valued at ~US$ 72 Bn at the end of 2019 and is anticipated to surpass US$ 99 Bn by the end of the forecast period 2020-2030. The Automotive & Transportation segment is estimated to be the most lucrative end use capturing 36% of the overall demand pie in the global machine tools market. Furthermore, manufacturers are adopting green manufacturing to reduce the overall operating cost by using energy efficient processes that can drastically reduce energy and utility bills, thus fueling the demand for machine tools with lesser power consumption. However, the recent COVID-19 pandemic has resulted in production shortfall coupled with disruptions in supply chain in several industries such as the automotive sector. However, the global demand for machine tools market is foreseen to fare well with the sudden down shift in the global demand.
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Key Takeaways of the Machine tools Market
“The ongoing spread of the COVID-19 pandemic across the globe will delay the economic restart. Furthermore companies with heavy production and sales footprint in Europe and China are witnessing a direct impact on machine tools sales, imports and exports. However, slow but quick recovery is expected from china which will result in a positive uptake of machine tools” says the Fact.MR analyst
Product Launches to Remain a Prime Growth Lever
Key players in the machine tools market are Komatsu Limited, DMG Mori, Okuma Corporation, TRUMPF Group, Hyundai WIA Corporation and Doosan Machine Tools among others. Prominent machine tools manufacturers are launching new products and capitalizing significantly in their R&D endeavors to bring constant change in their line of products as per the todays dynamic industry trends. For instance,
More Valuable Insights on the Machine tools Market
Fact.MR, in its new offering, presents an unbiased analysis of the global machine tools market, presenting historical demand data (2015-2020) and forecast statistics for the period of 2020-2030. The study divulges essential insights on the machine tools market on the basis of product type (Metal Cutting Machine Tools (Machining Centers, Laser, EDM, & Related, Lathes and Other Metal Cutting), Metal forming Machine Tools (Presses, Punching & Shearing Machines, Bending & Forming Machine, Other Metal Forming) and end use (Automotive & Transportation, Electrical & Electronics, Machinery, General Manufacturing and Others) across seven major regions.
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About the Authorsachi kaushik
Joined: January 19th, 2021
Articles Posted: 120
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