The Machine tool market is viewed as crucial for improving the efficiency of future heavy manufacturing activity.
The report ‘Machine Tool Market: By Product Type (Metal Cutting Tools, Metal Forming Tools, Special Machine Tools) By End-Use Industry (Automotive, Aerospace/Defence, Primary & Fabricated Metals, Electrical & Electronic Equipment, Others) & Geography-Forecast (2016-2021)’, published by IndustryARC, estimates that the Asia-Pacific region will register the highest growth in demand during the forecast period.
Scope & Regional Forecast of the Machine Tool Market
Machine Tools are power-driven industrial tools such as lathe, griller, grinder, shaper and plethora of other tools which are used for deformation of metals based on product specification. All the machine tools constrain the workpiece in some way or the other and provide a guided movement of the parts of the machine. In this way, the relative movement between the workpiece and the cutting tool is controlled by the machine to some extent. The various machine tools can be used for machining flat surfaces, cylindrical surfaces, making holes, machine profiling, and many other applications.
APAC region was the highest-grossing market in 2015. APAC region is expected to grow at a relatively high rate through 2021. This can be attributed to the developing economies in this region which allow various perks to the manufacturers. North America is the second largest market for machine tools and Europe follows immediately. APAC region is the fastest growing market for machine tools.
Some of the operations which are carried out by cutting tools are grinding, turning, internal grooving, milling, drilling, and threading. Metal forming tools are used to mold or shape the metal in a particular way on the basis of product specification. Press, rolling, extrusion machines are some examples of metal forming machines. Special machine tools are used for a special aim and are more economic and have high efficiency. These machines can be used for milling, boring, turning and drilling.
Prominent Segmentations Involved in the Machine Tool Market
The machine tool market can be broken down into various segmentations on the basis of:
· Product Type: Metal cutting tools, metal forming tools, and special machine tools.
· End-Use Industry: Automotive, aerospace/defence, primary & fabricated metals, electrical & electronic equipment and others.
· Geographical Location: Europe, Asia-Pacific, Americas and rest of the world.
Some of the sample companies profiled in the machine tool market report are as follows:
· Thyssen Production System
· Hitachi Seiki Co. Ltd
· Okuma Corporation
· TUMPF Group
· Komatsu Ltd.
· JTEKT Corp.
· FANUC Corp.
· Dalian Machine Tool Group Corp.
· Armada Co. Ltd
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