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Global Machine Tools Market By Product Type (Milling, Drilling, Others), By Automation Type (CNC Tool, Conventional Tool, Others), By End-Users (Energy, Capital Goods, Others), By Region, Forecast & Opportunities to 2026

The global machine tools market accounted for a value of USD 71.0 billion in 2019 and is projected to register growth at a CAGR of 2.9% during forecast period.

Covid-19 impacted the manufacturing industries significantly and it has disrupted the smooth functioning of the automotive market. Due to pandemic situation the export and import market is on pause. The manufacturing facilities have to halt its activities. There is a shortage of raw materials due to disruption in supply chain due to travel restrictions. Thus the machine tool market is expected to witness drop due to pandemic.

Definition:

Machine tool can be defined as machine for handling or machining metal or other rigid materials. It performs cutting, boring, shearing, grinding and other operations on materials. There some tool employed on this machine which helps in performing all these operations.

Market Dynamics (Drivers/Opportunities):

The industries are focusing on achieving higher productivity and reducing the downtime. The industries are focusing on mass production in various industries such as defense, aerospace and automotive industry. This increases the adoption and demand for machine tools in various manufacturing industries. This drives growth in machine tool market during forecast period.

The use of metal is increasing which increases demand for metal cutting tools in various industries. The automation is increasing in several industries and industries are integrating various technologies such as IoT, AI and robotics in order to increase the productivity. The integration of Computer-Aided Manufacturing (CAM) in machine tools to reduce the required time for workpieces manufacturing. This drives growth in machine tool market during forecast period.

Market Insights, by Product Type

On the basis of product type, the machine tool market is segmented into milling machines, drilling machines, electrical discharge machines and grinding machines. The milling machines segment is estimated to hold largest market share during forecast period. Milling machines are used in metal cutting process in various industries. The metalworking process industries are expanding rapidly which increases the demand for milling machines. The milling machines can perform various functions such as turning, chamfering, gear cutting and drilling. The milling machines can perform multiple cuts through multiple cutters. These machines are widely preferred in aerospace, automotive and railways industries. This drives growth in milling machines segment during forecast period.

Market Insights, by Automation Type

On the basis of automation type, the machine tool market is segmented into CNC machine tool, conventional machine tool. The CNC machine tools segment is estimated to hold largest market share during forecast period. The CNC tools have witness high demand from several manufacturing companies for product innovation and productivity improvements. The demand for CNC machines is increasing as the manufacturing sector is growing around the world. The CNC machines are compact in size and it is automated which helps in enhancing productivity, eliminating human errors and saves time. This machine is highly preferred in the production industry and this drives growth in CNC machines segment during forecast period.

Market Insights, by End-User

On the basis of end-user, the machine tool market is segmented into energy, capital goods, sheet metals and automotive & transportation. The automotive & transportation segment is estimated to hold largest market share during forecast period. The automotive and aerospace industry is adopting various technologies such as IoT, AI and robotics etc. this increases adoption for automated machine tools in this industry. The industries are focusing on upgrading technologies to meet NCAP rating and to meet fuel efficiency mandates across the world. This results in re-tooling of existing machining solutions which increases the demand for machine tools. This drives growth in machine tool market in automotive & transportation end-users during forecast period.

Regional Insights

Asia-Pacific region is estimated to dominate the market during forecast period. The number of metal cutting process industries is increasing across this region. Asia-Pacific region is home for many leading machine tool manufacturers. China is considered to be the major consumers of machine tools. This region is investing in oil & gas and automotive industry which increase the adoption of machine tools. This drives growth in Asia-pacific region during forecast period.

Key Companies & Market Share Insights

The key market players in machine tools industry are Doosan, Amada, Makino, Jtekt, GF Machining Solutions, DMG Mori, Komatsu, Okuma, Hyundai WIA, Schuler AG, Chiron Group SE, MAG IAS GmbH, HAAS Automation, Ace Micromatic Group, Electronica Hitech Engineering and Yamazaki Mazak Corporation.

Segments Covered in the Report

This report forecasts The Global Machine Tool Market, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2020 to 2026. For the purpose of this study, Our Company has segmented the global machine tool market report on the basis of product type, automation type and end-users.

Machine Tools Market Size & Forecast (2017-2026)

  1. Research Framework
    • Market Definition and Product Overview
    • Market Segmentation
  2. Research Methodology
    • Qualitative Research
      • Primary & Secondary Sources
    • Quantitative Research
      • Primary & Secondary Sources
    • Breakdown of Primary Research Respondents, By Region
      • Secondary Research
      • Primary Research
    • Breakdown of Primary Research Respondents, By Industry Participants
      • Market Size Estimation
      • Assumption for the Study
      • Market Breakdown & Data Triangulation
  1. Executive Summary
    • Market Snapshot
  2. Industry Insights
    • Industry ecosystem analysis
      • Value Chain Analysis
    • Industry impact and forces
      • Growth Drivers
      • Challenges &Restraints
      • Opportunities
    • Disruptive Technological Analysis
    • Regulatory framework
      • North America
      • Europe
      • Asia Pacific
      • Middle East & Africa
      • South America
    • Growth potential analysis, 2019
    • Porter’s Five forces analysis
    • Pricing Analysis
      • North America
      • Europe
      • Asia Pacific
      • Middle East & Africa
      • South America
  1. COVID – Impact Analysis
    • North America
    • Europe
    • Asia Pacific
    • Middle East & Africa
    • South America
  2. Machine Tools Market, By Product Type, Market Size & Forecast To 2026

(USD Million 2017,2018, 2019, 2020, 2021-e-2026-p)

  • Introduction
  • Milling Machines
  • Drilling Machines
  • Electrical Discharge Machines
  • Grinding Machines
  1. Machine Tools Market, By Automation Type, Market Size & Forecast To 2026

(USD Million 2017,2018, 2019, 2020, 2021-e-2026-p)

  • Introduction
  • CNC Machine Tool
  • Conventional Machine Tool
  1. Machine Tools Market, By End-Users, Market Size & Forecast To 2026

(USD Million 2017,2018, 2019, 2020, 2021-e-2026-p)

  • Introduction
  • Energy
  • Capital Goods
  • Sheet Metals
  • Automotive & Transportation
  1. Machine Tools Market, By Region, Market Size & Forecast To 2026

(USD Million 2017,2018, 2019, 2020, 2021-e-2026-p)

  • Introduction
  • North America Market Size & Forecast To 2026
    • Market Overview
    • COVID-19 Impact
    • By Product Type
    • By Automation Type
    • By End-Users
    • By Country
      • USA
        • By End-Users
      • Canada
      • Mexico
    • South America Market Size & Forecast To 2026
      • Market Overview
      • COVID-19 Impact
      • By Product Type
      • By Automation Type
      • By End-Users
      • By Country
        • Brazil
          • By End-Users
        • Argentina
        • Chile
        • Rest of South America
      • Europe Market Size & Forecast To 2026
        • Market Overview
        • COVID-19 Impact
        • By Product Type
        • By Automation Type
        • By End-Users
        • By Country
          • UK
            • By End-Users
          • Germany
          • France
          • Italy
          • Rest of Europe
        • APAC Market Size & Forecast To 2026
          • Market Overview
          • COVID-19 Impact
          • By Product Type
          • By Automation Type
          • By End-Users
          • By Country
            • China
              • By End-Users
            • India
            • Japan
            • South Korea
            • Australia
            • Rest of APAC
          • Middle East & Africa Market Size & Forecast To 2026
            • Market Overview
            • COVID-19 Impact
            • By Product Type
            • By Automation Type
            • By End-Users
            • By Country
              • Saudi Arabia
                • By End-Users
              • UAE
              • Qatar
              • Kuwait
              • South Africa
              • Rest of Middle East & Africa
  1. Competitive Landscaping
    • Competitive Benchmarking
      • Market Share Analysis, 2019
      • Global Presence and Growth Strategies
        • Mergers & Acquisitions
        • New Product Launches
        • Investments Trends
        • R&D Initiatives
  1. Company Profile
    • Yamazaki Mazak Corporation
      • Company Overview
      • Financial Overview
      • Product Portfolio
      • Recent Developments
      • SWOT Analysis
      • Strategic Outlook
    • Doosan
    • Amada
    • Makino
    • Jtekt
    • GF Machining Solutions
    • DMG Mori
    • Komatsu
    • Okuma
    • Hyundai WIA
    • Schuler AG
    • Chiron Group SE
    • MAG IAS GmbH
    • HAAS Automation
    • Ace Micromatic Group
    • Electronica Hitech Engineering
  2. Appendix
    • Interrelated Market

 

Research Methodology

1.1     Research Methodology

The process of market research at PAN Market Consulting is very intuitive being iterative in nature and usually follows the path where Information gathered from secondary research is used to build data models, which are than validated from primary participants. Then same cycle repeats where, according to inputs from primary participants, additional secondary research is done, and new information type is again incorporated into data model. The process continues till desired level of information is not generated.

To calculate the market size, the report considers the revenue generated from the sales of the product/services. The revenue generated from the sales of product/services has been calculated through primary and secondary research. The report also analyses the key players operating in the market at the global level which are identified through secondary research and a corresponding detailed analysis of the top vendors in the market. The market size calculation also includes product segmentation determined using secondary sources and verified through primary sources.

1.2     Secondary Research

The secondary research source that are typically referred to include, but are not limited to:

  • Company websites, annual reports, financial reports, broker reports, investor presentations and SEC filings
  • Internal and external proprietary databases, relevant patent and regulatory databases
  • National government documents, statistical databases and market reports
  • News articles, press releases and web-casts specific to the companies operating in the market

The source for secondary research includes but is not limited to Factiva, Hoovers and Statista

SecondaryResearch

1.3     Primary Research

We conduct primary interviews on an ongoing basis with industry participants and commentators in order to validate data and analysis. A typical research interview fulfills the following end users:

  • It provides first-hand information on the market size, market trends, growth trends, competitive landscape, future outlook etc.
  • Helps in validating and strengthening the secondary research findings
  • Further develops the analysis team’s expertise and market understanding
  • Primary research involves E-mail interactions, telephonic interviews as well as face-to-face interviews for each market, category, segment and sub-segment across geographies

The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: CEOs, VPs, marketing/ product managers, market intelligence managers and national sales managers
  • Purchasing managers, technical personnel, distributors and resellers
  • Outside experts: Investment bankers, valuation experts, research analysts specializing in specific markets
  • Key opinion leaders specializing in different areas corresponding to different industry end users

1.4     Models

Where no hard data is available, we use modeling and estimates in order to produce comprehensive data sets. A rigorous methodology is adopted in which the available hard data is cross referenced with the following data products to produce estimates:

  • Demographic data: Population split by segment
  • Macro-economic indicators: GDP, etc.
  • Industry indicators: Expenditure, product stage & infrastructure, sector growth and facilities.

Data is then cross checked by the expert panel.

1.4.1 Company Share Analysis Model

Company share analysis is used to derive the size of global market. As well as study of revenues of companies for last three to five years also provide the base for forecasting the market size and its growth rate. This model is built in following steps:

ResearchMethodology1

1.4.2 Revenue Based Modeling

Revenue based models can be built in two ways – Top-Down or Bottom-Up irrespective of industry. Market size estimated from company share analysis acts as a validation point for bottom-up approach whereas it acts as starting point for top-down approach.

ResearchMethodology2

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