24/7 Customer Support

Machine Tools Market – Industry Dynamics, Market Size, and Opportunity Forecast to 2027

Global Machine Tools Market (By Product-Milling Machine, Lathe Machine, Laser Machine, Drilling Machine, Turning Machine, Grinding Machine, Electrical Discharge Machine, Machining Centers; By Automation Type- CNC Machine Tools, Conventional Machine Tools; By Industry-Automotive, Aerospace and Defense, Construction Equipment, Power and Energy, Industrial, Others; By Sales Channel- Dealers and Distributors, Events and Exhibitions; By Region- North America, Europe, Asia Pacific, Middle East & Africa (MEA) and South America) – Industry Dynamics, Market Size, and Opportunity Forecast to 2027

  • Published On: 08-Sep-2021  |  Format: pdfpowerpointexcel  |  Report ID: AA0921094
INFOGRAPHIC:
Machine Tools Market

View Full Infographic

FREQUENTLY ASKED QUESTIONS

This report provides analysis of global market for machine tools for the period 2017 to 2027, wherein 2017-2019 represent historic data, 2020 has been considered as base year and is on actuals. 2021 has been estimated for recent concluded quarter, while 2021-2027 are forecast values, reflecting impact of different factors on the growth trend.

Machine tools market is growing at a CAGR of 4.7% over the forecast period 2021-2027.

CNC milling, turning machine or the lathe machine, radial drill, cord drills and the pedestal drills and others.

Increasing manufacturing output in various industries as well as demand for superior quality end products that can only be achieved with high precision machine tools and favorable government policies for the manufacturing sector, are expected to propel the global machine tools market forward.

The high costs of purchasing and installing CNC machines, as well as a scarcity of trained and skilled CNC machine operators, may limit the market's growth.

The regulations/standards covered in the report include Occupational Safety and Health Administration (OSHA) regulations, SLAC - Anti-restart devices (ARDs), SLAC- authorization and training for machine and portable tools, ISO 230-3:2020 - Test code for machine tools and others.

Asia Pacific is growing at the highest CAGR of about 5.2% over 2021- 2027.

Global machine tools market is observed to have competitive nature and is projected to shift towards fragmented nature in the forecast period.

The report covers the following segments: product type, automation type, industry, sales channel and region.

Due to the increased adoption of machine tools for the fabrication of transmission housings, engine cylinder heads, gearbox cases, and brake drums, among other automobile components, the automotive category accounted for 29% of the worldwide machine tools market in 2020.

Some key players operating in the machine tools market include AMADA Co., Ltd., CHIRON Group SE, DMG MORI, Doosan Corporation, Georg Fischer Ltd., Makino and Okuma Corporation.

The key strategies adopted by market players include Mergers and acquisitions, partnerships, regional expansion, and new product development.

The pandemic has an impact on the business of its end-use sectors, which use such technologies because of their diverse benefits, which could have a negative impact on market growth during the epidemic. Furthermore, due to the lockdown or limited production, the interruption in the supply chain of materials has hampered machine tool manufacturers, as most of the supplies were made in China.