Global Machine Tools Market Overview:
Some of the primary drivers driving the expansion of the machine tool industry globally are the rising manufacturing industry and technological advancements in machine tools, such as multi-axis and robotic arms. Motion control devices are in high demand due to the growth of the worldwide motion control industry, particularly in the robotics, electronics assembly, semiconductor, machine tools, and renewable energy sectors. Advances in control components have made it possible to simplify machine design.
Growth Drivers
- Demand for higher productivity and reduction in downtime
- Growing demand for reduction in operating costs
Roadblocks
- Initial Investment Cost of High-End Machines
Opportunities
- Increasing demand from the automotive industry
- Rise of electric vehicles changing the demand for the machine tool industry
Challenges
- Trade barriers between different regions
Competitive Landscape:
The Machine Tools market is fragmented in nature. Growth opportunities can be captured by tracking the ongoing process improvement and financial flexibility to invest in optimal strategies. Moreover, the companies are focusing on the new service launches with continuous research and development.
Some of the key players profiled in the report are Doosan Machine Tools Co. Ltd. (Japan), AMADA Pvt. Ltd. (Japan), Makino (Japan), JTKET Corporation (Japan), Georg Fischer Ltd. (Switzerland), Komatsu NTC Ltd. (Japan), OKUMA Corporation (Japan), Hyundai WIA (South Korea), Schuler AG (Germany), Chiron Group SE (Germany), MAG IAS GmbH (Germany), GROB-WERKE GmbH & Co. KG (Germany), Haas Automation Inc.(United States) and Gleason Corporation (United States). Additionally, following companies can also be profiled that are part of our coverage like Spinner Machine Tools (Germany), Dalian Machine Tools Group Corporation (China) and Yamazaki Mazak Corporation (Japan). Analyst at AMA Research see Global Manufacturers to retain maximum share of Global Machine Tools market by 2026. Considering Market by Automation, the sub-segment i.e. CNC Machine Tools will boost the Machine Tools market. Considering Market by Sales Channel, the sub-segment i.e. Events and Exhibitions will boost the Machine Tools market.
Latest Market Insights:
In May 2020, JTEKT Corporation has developed the 5th generation Low-Friction-Torque tapered roller bearing“LFT-V”used in transmissions, pinion support of differential units and other applications.
In December 2020, German technology company Trumpf has completed the renaming and merger of its wholly-owned fibre laser manufacturing subsidiary SPI Lasers, into the Trumpf group and under the Trumpf brand. The former SPI Lasers organisation will now work even more closely with Trumpf Laser, also a wholly-owned subsidiary of the Trumpf Group. The two companies are pooling their competence and expertise in laser technology worldwide to create synergies and improve customer service for industrial applications in both disk laser and fibre laser technology.
What Can be Explored with the Machine Tools Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Machine Tools Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Machine Tools
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Machine Tools market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Machine Tools market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Machine Tools Manufacturers, Machine Tools Suppliers/Distributors, Raw Material / Component Supplier, Regulatory Authorities, New Entrants/Investors, Strategic Business Planners, Governments and End-Use Industry.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.