Global Machine Tools Market Report 2022
Major players in the machine tools market are Doosan Machine Tools Co. Ltd., Makino, Georg Fischer, JTKET Corporation, Komatsu NTC Ltd., OKUMA Corporation, Hyundai WIA, Chiron Group SE, Haas Automation Inc.
New York, July 4 2022 (GLOBE NEWSWIRE) — Reportlinker.com Announces Release of “Machine Tools Global Market Report 2022″ – https://www.reportlinker.com/p06290058/?utm_source=GNW
, Yamazaki Mazak Corporation, Amada Private Limited, MAG IAS GmbH, GROB-WERKE GmbH and Co. KG, Ace Micromatic Group, Spinner Machine Tools, Dalian Machine Tools Group Corporation and Electronica Hitech Engineering Pvt. ltd.
The global machine tool market is expected to grow from $80.51 billion in 2021 to $87.30 billion in 2022 at a compound annual growth rate (CAGR) of 8.4%. The machine tools market is expected to reach $105.96 billion in 2026 with a CAGR of 5%.
The machine tools market includes sales of machine tools by entities (organizations, sole proprietorships, and partnerships) that are used for cutting, boring, grinding, shearing, and also used for deformations. It also contains some types of tools which are used for cutting and shaping.
Machine tools are referred to as stationary electrical equipment used to shape or create parts made of metal or other materials. Machine tools include lathes, shapers and planers, drills, mills, grinders, and power saws that produce parts by removing metal shavings from a part.
The main types of machine tools are milling machines, drilling machines, lathes, grinding machines, EDM machines and others. Tool milling machines are called general-purpose machines that can also mill and turn materials.
A milling machine is a circular tool that has several cutting edges arranged symmetrically over its entire surface. This machine is used for flat and irregularly shaped surfaces.
These are used for drilling, reaming and cutting gears. The different types of automation include CNC machine tools and conventional machine tools which are distributed through several sales channels including direct and indirect.
It is employed in various industries such as automotive, aerospace and defense, construction equipment, power and energy, industrial, etc.
Asia-Pacific was the largest region in the machine tools market in 2021. Asia-Pacific is expected to be the fastest growing region during the forecast period.
Regions covered in the Machine Tools market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The Machine Tools Market research report is one of a series of new reports that provides machine tools market statistics, including the global machine tools industry market size, regional shares, competitors holding Machine Tools market share, detailed Machine Tools market segments, market trends and opportunities. , and all the additional data you might need to thrive in the machine tool industry. This Machine Tools Market research report provides a comprehensive perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The growth in the manufacturing industry is expected to propel the growth of the machine tools market in the future.
These machines are used to form, cut and assemble tools. Therefore, the growth of the manufacturing industry will increase the demand for machine tools.
For example, in September 2021, according to the India Brand Equity Foundation (IBEF), a government agency based in India, 2021 India received $30 billion in foreign direct investment which increased by 15% compared to years previous and also the same year. approved the Production Linked Incentives (PLI) scheme worth $3.53 billion for the automotive industry and drone industry to boost India’s manufacturing capabilities. Hence, growth in the manufacturing industry is driving the growth of the machine tool market.
New product innovations have emerged as the key new trend gaining popularity in the machine tool market. Major companies operating in the machine tool market have focused on new product innovations to maintain their position in the market.
For example, in December 2019, DMG MORI, a German company that manufactures machine tools, launched a new product called lasertec 125 3D hybrid based on hybrid additive manufacturing technology. Lasertec 125 3D Hybrid is a 5-axis laser deposition welding (LDW) system designed for maintenance, repair and part production in one part.
In April 2021, EMAG Group, a German provider of the latest technological advancements to optimize a manufacturing solution for each customer’s needs, acquired Samputensili Machine Tools for an undisclosed sum. With this acquisition, EMAG expands its area of technologies by adding the production of process gears such as shaving, tooth flank grinding, gear shaping, profile grinding and generator grinding.
Samputensili Machine Tools is an Italian company specialized in the production of high quality gear hobbing tools.
The countries covered in the Machine Tools market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the United Kingdom and the United States.
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