Global Machine Tool Market: Industry Analysis and Forecast (2021-2027)

1. Global Machine Tool Market was worth US$ 77.16 Bn in 2019, and overall revenue is anticipated to rise at a rate of 3.2% from 2021 to 2027, reaching almost US$ 99.27 Bn. in 2027. Global Machine Tool Market Overview: Machine tool manufacturing has been driven by demand in the automotive, industrial, and transportation machinery industries. Additionally, manufacturers are focused on the digital transformation of machinery as the era changes from conventional to CNC machines. As a result of this change, end-user industries demand more production, higher quality, and shorter cycle times. TGM LTD, for example, spent USD 1.43 million to debut CNC technology in August 2020, intending to attract large aerospace and defence companies. The company expects to treble its sales in just two years after using this new technology. Global Machine Tool Market To know about the Research Methodology :- Request Free Sample Report 2019 is considered as a base year to forecast the market from 2021 to 2027. 2020’s market size is estimated on real numbers and outputs of the key players and major players across the globe. Past five years trends are considered while forecasting the market through 2026. 2020 is a year of exception and analysed specially with the impact of lockdown by region. Covid 19 Impact on Global Machine Tool Market:

2. The novel COVID-19 pandemic has spread to nearly every part of the globe. The pandemic has had a significant influence on machine tool imports and exports in a number of major countries. At the same time, major manufacturers are thinking how to deal with a major supply chain disruption in the global Machine Tool Market. This global pandemic's external shock is anticipated to amplify the existing downshift in machine tool demand. Global Machine Tool Market Dynamics: The market is being driven by an increase in additive manufacturing. Manufacturers are moving toward more cost-effective and rapid production processes, which is leading to a rise in the use of additive manufacturing. Furthermore, market growth is likely to be aided by the expanding popularity of heterogeneous material manufacturing capabilities. CNC manufacturers are considering adding additive manufacturing into their operations. The goal of Industry 4.0 is to reduce idle time and increase machine tool use. Analysing data related to tool changes and programme halt can be very useful in identifying and correcting the source of idle time, resulting in more efficient machine tool utilisation. Various bearing manufacturers, such as The Timken Company and NSK Ltd., are working on machine tool bearing development at the same time. The Timken Company, for instance, developed a new range of precision cylindrical roller bearings in October 2019 that are designed to maximise speed and efficiency in high-demand applications. The market is being hampered by changes in the global economic situation. In the manufacturing industry, expenditures are directly related to tool sales. As a result, if the global economy slows, machine tool revenue is expected to fall. Similarly, trends in the automotive industry have had a larger impact on the tools sector due to the high adoption of machinery in the industry, but trends in capital expenditure in the automotive manufacturing sector have a significant impact on market revenue. Global Machine Tool Market Segment Analysis: The Global Machine Tool Market is segmented into 5 sub segments by Types, Technology, Sale channel, End use and region. Based on Type, the market is divided into six types, Lathe Machines, Milling Machines, Laser Machines, Grinding Machines, Welding Machines, and Winding Machines. With a market share of over 25% in 2019, the lathe machines category dominated the market. This can be attributed to the increasing use of lathe equipment for tasks like chamfering, filleting, turning, and slot cutting. The use of lathe machines has increased in recent years as a result of their ability to eliminate human intervention while boosting the accuracy of machining processes.

3. Manufacturers like Georg Fischer Ltd. and Haas Automation, Inc. are responding to the trend by focusing on the creation of novel lathe machines, which is helping the segment, grow. Global Machine Tool Market 1 Based on Technology, the market is divided into Computer Numerical Control (CNC) and Conventional. In 2019, with a market share of more than 80%, the CNC segment dominated the market. This is due to the increased requirement to cut operational costs, personnel, and faults in components created in industries including aerospace and military, as well as automotive. The increasing amount of venture capital money going to firms that build software for CNC machines bodes well for the CNC market. Cloud NC, for example, reported in June 2018 that it had received USD 10 million in funding from European venture capital firm Atomico. Based on End use, the market is divided into Automotive, Aerospace and Defense, Construction equipment, Power and Energy, and Industrial. In 2019, the automotive segment accounted for more than 12% of the market. This is due to an increase in the use of machine tools to fabricate transmission housings, engine cylinder heads, gearbox cases, and brake drums, among other automotive components. The segment's growth has also been fueled by the increased demand for CNC machines from carmakers. The outbreak of the COVID-19 pandemic, however, has hampered Chinese part shipments. The closure of assembly factories in nations such as Germany, India, and South Korea, among others, are having an impact on automakers' usage of machine tools. Based on the Sale channel, the market is bifurcated into direct sale channel and indirect sale channel. Direct sales accounted for more than 60% of total revenue in 2019 and are expected to grow at a substantial CAGR of xx% over the forecast period. In the North American region, numerous machine tool wholesalers, such as Ellison Technologies and Absolute Machine Tools, Inc., sell machine tools. The presence of such distributors is propelling the growth of the market. Champions Machine Tool Sales, Inc., for example, is in charge of Haas Automation, Inc.'s machine tool distributors throughout the state of Texas. Global Machine Tool Market 2 Global Machine Tool Market Regional Insights: In 2019, Asia Pacific dominated the market, accounting for more than 35% of total revenue. This is due to efforts like "Make in India" and "Made in China 2025," which are being pursued by governments in the region to stimulate indigenous manufacturing. To encourage manufacturing investment, the Indian government stated in September 2019 that manufacturing enterprises registered on or after October 1, 2019 will be able to pay corporation tax at a rate of 15%. Furthermore, countries in the region, such as China, India, and South Korea, are among the world's largest automotive component producers, and the use of machine tools in the manufacturing of

4. automotive components has been increasing across the region. The growing construction industry in the Asia Pacific is expected to increase demand for machine tools in the region. Whereas to increased demand for machine tools from incumbents in the aerospace and defence, automotive, and oil and energy industries, among other industries and industry verticals, the North America regional market is expected to grow at the fastest rate of xx% over the projected period. In the region, aircraft manufacturers are aggressively engaging various market participants for machine tool procurement. In November 2018, Georg Fischer Ltd., for example, received a number of orders from several aircraft manufacturers in the North American region. Global Machine Tool Market 3 Global Machine Tool Market Recent Developments: In Dec 2020, SPI Lasers, a wholly-owned fiber laser manufacturing subsidiary of German technology corporation Trumpf has been renamed and merged into the Trumpf group and under the Trumpf brand. Trumpf Laser, a wholly-owned subsidiary of the Trumpf Group, will now collaborate even more closely with the former SPI Lasers organization. The two firms are combining their laser technology expertise and skills to generate synergies and improve customer service for industrial applications in both disc laser and fiber laser technologies. The objective of the report is to present a comprehensive analysis of the Global Machine Tool Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants. PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market has been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding the Global Machine Tool Market dynamics, structure by analyzing the market segments and project the Global Machine Tool Market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the Global Machine Tool Market make the report investor’s guide. For More Information Visit @: https://www.maximizemarketresearch.com/market-report/global-machine-tool-market/114372/

5. Global Machine Tool Market Scope:Inquire before buying Global Machine Tool Market 4 Global Machine Tool Market, by Region • North America • Europe • Asia Pacific • Middle East and Africa • South America Global Machine Tool Market key player: • AMADA Co., Ltd. • CHIRON Group SE • DMG MORI • Doosan Corporation • Georg Fischer Ltd. • HYUNDAI WIA CORP. • JTEKT • Komatsu Ltd • Chiron Group • Makino • kuma Corporation • GF Machining Solution • Schuler AG • Chiron Group SE Frequently Asked Questions: 1) What was the market size of Global Machine Tool Market in 2019? Ans - Global Machine Tool Market was worth US$ 77.16 Bn in 2019.

6. 2) What is the market segment of Global Machine Tool Market? Ans – The market segments are based on type, based on Technology, based on Sale channel and end use. 3) What is forecast period consider for Global Machine Tool Market market? Ans – The forecast period for Global Machine Tool MarketMarket is 2021 to 2027. 4) Which are the worldwide major key players covered for Global Machine Tool Market report? Ans – AMADA Co., Ltd., CHIRON Group SE, DMG MORI, Doosan Corporation, Georg Fischer Ltd., HYUNDAI WIA CORP., JTEKT, Komatsu Ltd, Chiron Group S, Makino. 5) Which region is dominated in Global Machine Tool Market Market? Ans – In 2019, Asia Pacific region dominated the Global Machine Tool Market. This Report Is Submitted By : Maximize Market Research Company Customization of the report: Maximize Market Research provides free personalized of reports as per your demand. This report can be personalized to meet your requirements. Get in touch with us and our sales team will guarantee provide you to get a report that suits your necessities. About Maximize Market Research: Maximize Market Research provides B2B and B2C research on 20,000 high growth emerging opportunities & technologies as well as threats to the companies across the Healthcare, Pharmaceuticals, Electronics & Communications, Internet of Things, Food and Beverages, Aerospace and Defense and other manufacturing sectors.