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Global Machine Tools Market 2020-2024 | Evolving Opportunities With 600 Group Plc and Doosan Corp. | Technavio

January 9, 2020 GMT
Global Machine Tools Market 2020-2024 | Evolving Opportunities With 600 Group Plc and Doosan Corp. | Technavio
Global Machine Tools Market 2020-2024 | Evolving Opportunities With 600 Group Plc and Doosan Corp. | Technavio

LONDON--(BUSINESS WIRE)--Jan 9, 2020--

The global machine tools market is poised to grow by USD 19.02 billion during 2020-2024 at a CAGR of almost 4% during the forecast period. Request Free Sample Pages

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Technavio has announced its latest market research report titled global machine tools market 2020-2024. (Graphic: Business Wire)

Read the 155-page research report with TOC on “Machine Tools Market Analysis Report by Geography (APAC, Europe, MEA, North America, and South America), by End-user (Automotive, Industrial machinery, Precision engineering, Transportation, and Others), and Segment Forecasts, 2020-2024”.

https://www.technavio.com/report/machine-tools-market-industry-analysis

The growing demand for CNC machines and rising adoption of integrated digital solutions in machine tools are factors anticipated to boost the growth of the market.

CNC machines are preferred over conventional machine tools because they boost the efficiency of production and minimize the cost of manufacturing by performing multiple operations in short cycle time. For instance, a 6-axis CNC milling machine is used for machining cast iron, steel, aluminum, and other materials and minimizes production time of products in the automotive and aerospace sectors by 75%. Modern manufactures are moving toward additive manufacturing, connected factories, and smart machining, which is driving the demand for CNC-based lathes, grinding machines, laser machines, and milling machines in their metalworking facilities. Hi-tech industries such as aerospace and automotive, rely on CNC machines as they require products with high precision. Thus, the growing demand for CNC machines is expected to drive market growth during the forecast period.

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Major Five Machine Tools Market Companies:

600 Group Plc

600 Group Plc is headquartered in the UK and operates the business under various segments such as Machine Tools and Precision Engineered Components and Industrial Laser Systems. The company offers Master VS 3250 and Typhoon L Series CNC Turning Centres.

AMADA HOLDINGS Co. Ltd.

AMADA HOLDINGS Co. Ltd. is headquartered in Japan and offers products through the following business units: Metalworking Machinery and Metal Machine Tools. The company offers an advanced integrated sheet metal fabrication machine, LASBEND-AJ.

DMG MORI Co. Ltd.

DMG MORI Co. Ltd. is headquartered in Japan and operates under various business segments, namely Machine Tools and Industrial Services. The company offers a large high-precision lathe, NLX 6000 | 1000 for large-diameter shafts.

Doosan Corp.

Doosan Corp. is headquartered in South Korea (Republic of Korea) and offers products through the following business segments: Electro-Materials BG, Mottrol BG, Industrial Vehicle BG, Information and Communication BU, DHC, DI, DEC, DE, and Others. The company offers DNM Series and LYNX 2100 Series.

Falcon Machine Tools Co. Ltd.

Falcon Machine Tools Co. Ltd. is headquartered in Taiwan and offers products through the following business segments: Grinding Machine, Milling Machine, Turning Machine, and Other. The company offers CNC Surface Grinder (SMART-III series) and 5-axis Vertical Machining Center.

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Machine Tools End-User Outlook (Revenue, USD Million, 2020-2024)

Machine Tools Regional Outlook (Revenue, USD Million, 2020-2024)

Technavio’s sample reports are free of charge and contain multiple sections of the report, such as the market size and forecast, drivers, challenges, trends, and more.Request a free sample report

Related Reports on Industrialsinclude:

Machine Tools Market in the Netherlands – Machine Tools Market in the Netherlands by end-users (general machinery, precision engineering, automotive industry, and transportation industry) and type (metal cutting tools and metal forming tools).

Machine Tools Market in France – Machine Tools Market in France by end-user (automotive industry, aerospace industry, metalworking industry, industrial machinery, and others) and type (metal cutting tools and metal forming tools).

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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SOURCE: Technavio Research

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PUB: 01/09/2020 10:30 AM/DISC: 01/09/2020 10:30 AM

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