Machine Tools Market is Expected to Grow 1.4X Through 2031

The market study done by Fact.MR gives exclusive information about how the market will grow. The study identifies crucial trends that are determining the growth of Machine Tools market. This newly published report sheds light on vital dynamics, such as the drivers, restraints, and opportunities for key market players as well as emerging players associated with the production and supply. The latest report by Fact.MR provides detailed Market Analysis of Machine Tools

The report offers actionable and valuable market insights of Machine Tools. The latest report by Fact.MR provides details on the present scenario of the market across various regions along with the historic data and forecast of the market. The report also includes information on the sales and demand of Machine Tools Market across various industries and regions.

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The global market for machine tools is estimated to witness slow growth over the next couple of years attributed to COVID-19 pandemic. The COVID-19 pandemic has had a swift and severe impact on the global machine tools market with significant disruption in imports from China.

Riding on the back of the aforementioned trends, Fact.MR’s report estimates that global machine tools market will expand by 1.4X in terms of value and will grow at a CAGR of ~3.3% during the forecast period (2020-2030).

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.

This newly published and insightful report sheds light on Market Insights of Machine Tools, key dynamics, their impact on the overall value chain from suppliers to end-users and Growth of Machine Tools Market.

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Key Segments of the Machine Tools Market

Fact.MR’s study on the Machine Tools market offers information divided into three key segments-product type, end-use, and region. This report offers comprehensive data and information about important market dynamics and growth parameters associated with these categories.

Product Type

• Metal Cutting
• Machining Centres & Related
• Laser, EDM, & Related
• Lathes
• Other Metal Cutting
• Metal Forming
• Presses
• Punching & Shearing Machines
• Bending & Forming Machine
• Other Metal Forming

End-Use

• Automotive & Transportation
• Electrical & Electronics
• Machinery
• General Manufacturing & Others

Region

• North America
• Latin America
• Europe
• East Asia
• South Asia
• MEA

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New Product Launches: Key Growth Influencers in Machine Tools Market

The global market for machine tools is highly fragmented with the presence of a large number of local and regional players. The industry players are focusing on launching new products as per the dynamic industry needs as a key strategy to strengthen their market footprint and better serve the needs of consumers. For instance,

• In 2020, Doosan Machine Tools came up with MP 6500 series product with a high precision vertical machining center for mold machining. This machine features enhanced stability and spindle rigidity to boost user convenience and improved quality
• In 2020, Doosan Machine Tools introduced a new large-sized horizontal turning center. The newly developed product provides machining functions ranging from 2-Axis up to Y-axis machining which are suitable for machining large workpieces
• In 2019, Makino Milling Machine Co., Ltd. has introduced a new Wire EDM machine – U 6 H.E.A.T. Extreme. The new wire coated technology increases rough machining rates up to 300% without increasing manufacturing costs

Key Takeaways of the Machine tools Market

• Global machine tools market is expected to create an absolute $ opportunity of more than US$ 26 Bn and is anticipated to expand 1.4X from 2020 through 2030
• Metal cutting machine tools are projected to surpass market valuation of US$ 94 Bn by the end of 2030
• Electrical & Electronics end use segment is anticipated to grow, gaining 171 BPS over the course of forecast duration
• South Asia is projected to grow 1.2X faster than East Asia. However, East Asia is estimated to account for major chunk of demand pie by the end of the forecast period
• Automotive and transportation segment is projected to create an absolute $ opportunity of ~US$ 7.5 Bn between 2020 and 2030

“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

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Key Question answered in the survey of Machine Tools market report:

• Sales and Demand of Machine Tools
• Growth of Machine Tools Market
• Market Analysis of Machine Tools
• Market Insights of Machine Tools
• Key Drivers Impacting the Machine Tools market
• Which are the Key drivers impacted by Machine Tools market
• Restraints Shaping Market Growth
• Market Survey of Machine Tools

More Valuable Insights on Machine Tools Market

Fact.MR, in its new report, offers an unbiased Market Analysis of Machine Tools, Sales and Demand of Machine Tools, analyzing forecast statistics through 2019 and beyond. The study reveals growth projections on the basis of various criteria.

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