AP NEWS
ADVERTISEMENT
Press release content from Business Wire. The AP news staff was not involved in its creation.
PRESS RELEASE: Paid content from Business Wire
Press release content from Business Wire. The AP news staff was not involved in its creation.

Global Machine Tools Market Trajectory & Analytics Report 2021: A Revised Outlook Pegs the market $87.4 Billion by 2027 - ResearchAndMarkets.com

June 25, 2021 GMT

DUBLIN--(BUSINESS WIRE)--Jun 25, 2021--

The “Machine Tools - Global Market Trajectory & Analytics” report has been added to ResearchAndMarkets.com’s offering.

A revised outlook pegs the global market for machine tools at US$87.4 billion by 2027.

The worst affected industry in this pandemic driven crisis is manufacturing with its complex supply chains, labor intensive processes, and interdependencies. Division of labor, modular manufacturing strategies, outsourcing to reduce costs and increase the efficiency, consistency, and quality of each operations, have made the manufacturing sector most vulnerable amid the lockdown restrictions.

ADVERTISEMENT

An indication of the grim state of affairs is the fact that global manufacturing PMI is already declining and will fall to an estimated all-time low of 35.4 points in 2020 as compared to 53.8 in 2019. This indicates severe contraction of manufacturing activity including new orders, production, employment, supplier deliveries, inventories, customers’ inventories, commodity prices, order backlog, new export orders, and imports. Business investment confidence is tumbling amidst poor demand, falling profits, liquidity crunch and a reeling global economy.

The great lockdown of 2020 has crushed the global economy and with it the manufacturing sector. The COVID-19 pandemic will have lasting long-term economic, social and political impact. As death tolls continue to rise worldwide with the infections showing no signs of slowing down, a major change in priorities is underway as governments struggle amid the crisis to strengthen their healthcare systems.

The loss in consumer confidence and erosion of household wealth and discretionary spending will impact virtually every industry and business worldwide. Global merchandize trade is expected to plummet by 15% to 30% in the year 2020 highlighting the magnitude of disruption.

Against this backdrop, it requires very little speculation to measure the impact on manufacturing. In the United States alone over 80% of manufacturers are bracing for losses. The impact will mean crunch on capital resources; workforce layoffs/reduction and loss in productivity; supply chain disruptions; difficulties with funding; and increase in cyber security risks and fraud.

ADVERTISEMENT

Unlike IT services where work is being carried out remotely via internet and cloud platforms, for the manufacturing industry, plant activities and production cannot be carried remotely and therefore remains worst affected. The slower economic activity means reduced demand for industrial and consumer goods and lower manufacturing orders.

Select Competitors (Total 412 Featured):

  • Ace Micromatic Group
  • Allied Machine & Engineering Corporation
  • Amada Co, Ltd.
  • Amada Machine Tools America, Inc.
  • Chiron Group SE
  • Dalian Machine Tool Group Corporation
  • DMG Mori Co., Ltd.
  • Doosan Machine Tools Co. Ltd.
  • Electronica Hitech Engineering Pvt. Ltd.
  • FANUC Corporation
  • FANUC America Corporation
  • GF Machining Solutions Management SA
  • Gleason Corporation
  • GROB-WERKE GmbH & Co. KG
  • Hardinge, Inc.
  • Jones & Shipman Hardinge Ltd.
  • Haas Automation, Inc.
  • Hyundai WIA Co. Ltd.
  • JTEKT Corporation
  • Kennametal Inc.
  • Komatsu Ltd.
  • Makino Milling Machine Co. Ltd.
  • Okuma Corporation
  • Otto Bihler Maschinenfabrik GmbH & Co. KG
  • Sandvik AB
  • Sandvik Coromant
  • Schuler AG
  • Shanghai Machine Tool Works Ltd.
  • Shape Technologies Group
  • Sodick
  • Spinner Machine Tools GmbH
  • TAJMAC-ZPS, a.s.
  • Trumpf Group
  • Walter AG
  • Yamazaki Mazak Corporation

Key Topics Covered:

I. METHODOLOGY

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

  • Influencer Market Insights
  • World Market Trajectories
  • COVID-19 Outbreak Poised to Dent Market Prospects in the Immediate Term
  • An Introduction to Machine Tools
  • Key Product Segments
  • Segmentation by Machine Price & Precision
  • Key End Use Sectors
  • Machine Tools: Market Fortunes Closely Linked to Manufacturing Sector & Economic Environment
  • Recent Market Activity
  • The “Great Lockdown” of 2020 Crushes the Global Economy
  • What Does This Means for Manufacturing?
  • Despite Discouraging Short-Term Outlook, Long-Term Growth Prospects Remain Optimistic
  • Industry 4.0 and its Impact on Machine Tools Industry
  • A Review of Market Performance over the Past Decade and a Half
  • Competitive Scenario
  • Machine Tools: A Fragmented Marketplace
  • Vendors Emphasize Product Innovations & Enhancements to Maintain Competitive Edge
  • Service & Support Emerge as Prime Focus Areas
  • Product Pricing Continues to be Key Business Strategy
  • Vendors Reinforce Distribution Channels

2. FOCUS ON SELECT PLAYERS

3. MARKET TRENDS & DRIVERS

  • Reshoring Drives Growth Prospects in Developed Markets
  • Rapid Mushrooming of Job Shops in Developing Countries Poised to Benefit Machine Tools
  • Automotive Production in Developing Countries Augurs Well for Machine Tools
  • Switch to Electric Vehicles (EVs) May Affect Demand of Machine Tools
  • Aerospace Industry: COVID-19 Plays Spoilsport to Airlines Market Affecting the Machine Tool Industry
  • Emphasis on Specialized Aerospace Materials to Spur Demand for Sophisticated Machine Tools
  • Projected Long-Term Growth in the Semiconductor Industry to Drive Future Demand
  • Heavy Equipment/Machinery Manufacturing Industry Promises Bright Prospects
  • Developments in Renewable Energy Help Spur Market Opportunities
  • Technology Refinements Boost Demand for Numerical Control (NC) Machine Tools
  • Advent of 3D-Printing Machines: Marks the Emergence of Next Generation Machine Tools
  • Steady Growth Anticipated for Multitasking Machine Tools
  • Smart Machines Grow in Popularity
  • Adoption of Predictive Analytics Drives Market Growth
  • Wide-ranging Benefits Fueling Demand for CNC Machine Tools
  • CNC Machines Finds Application in Wide Spectrum of Application Areas
  • CNC Machines Help Improve Performance and Productivity
  • Retrofit Market Keeps CNC Machinery Sales Alive
  • Robotic-Assisted Technology and Automation Spurs Growth
  • Trends Across Major Product Markets
  • Metal Cutting Tools Market: An Overview
  • Steady Growth Predicted for Metal Cutting Machines Market over the Long Term
  • Surging Automation in End-Use Industries Drive Growth in the Global Lathe Machines Market
  • Carbide Tools: Most Sought After
  • High Speed Steel Cutting Tools: Hopes Pinned onto Powder Metallurgical HSS to Spearhead Growth
  • Rising Popularity of Carbon Fiber-Reinforced Polymers Bodes Well for Advanced Cutting Tools
  • Innovative Pricing Strategies: Need of the Hour for Cutting Tool Vendors
  • Grinding Machines Market: An Overview
  • Strong Opportunities in Orthopedic Implant Manufacturing over the Long Term
  • Advanced Grinding Techniques Spearhead Growth
  • Shortage of Skilled Labor Drives Automation Trends in Grinding Machinery
  • Digitalization and the Future of Machining
  • Metal Forming Machine Tools: An Overview
  • Laser Cutting Machines Market: An Overview
  • Asia-Pacific to Drive Market for Laser Cutting Machine Tools
  • Ultrashort Pulsed Laser Technology Gains Popularity
  • Fiber Laser Technology Gains Prominence at the Expense of CO2 Laser Technology
  • Adoption of Nanosecond Pulsed Fiber Lasers Poised to Grow Rapidly
  • Waterjet Cutting Machines Market: An Overview
  • Advanced Machines to Drive Growth in Waterjet Cutting Machinery Market
  • Expanding Applications to Spur Long Term Growth in the Market
  • Excellence in Technology: Critical to Future Evolution of Machine Tools Industry
  • Technology Innovation: Key to Growth in the Market
  • Connected, Automated Machines Facilitate Machine Tool Innovations
  • Innovations that Changed Production Processes
  • Technology Trends Shaping the Future of Manufacturing Sector
  • Modern Safety Innovations in Machine Tools
  • Select Latest Innovations
  • Brief Note on Distribution and Sales Channels

4. GLOBAL MARKET PERSPECTIVE

III. MARKET ANALYSIS

IV. COMPETITION

  • Total Companies Profiled: 412

For more information about this report visit https://www.researchandmarkets.com/r/c5lse.

View source version on businesswire.com:https://www.businesswire.com/news/home/20210625005404/en/

CONTACT: ResearchAndMarkets.com

Laura Wood, Senior Press Manager

press@researchandmarkets.com

For E.S.T. Office Hours Call 1-917-300-0470

For U.S./CAN Toll Free Call 1-800-526-8630

For GMT Office Hours Call +353-1-416-8900

KEYWORD:

INDUSTRY KEYWORD: ENGINEERING OTHER MANUFACTURING MANUFACTURING

SOURCE: Research and Markets

Copyright Business Wire 2021.

PUB: 06/25/2021 12:24 PM/DISC: 06/25/2021 12:24 PM

http://www.businesswire.com/news/home/20210625005404/en