TechNavio today launched its report Global Machine Tool Market 2011“2015 based on an in-depth study. The report aims to aid decision makers™ understanding of the key trends impacting this market.
Commenting on the report, an analyst from TechNavio™s Engineering Services team said, There has been a rapid increase in competition among the machine tool vendors in the past few years. This increase in competition leads to a decrease in the overall price of machine tools. Consequently, there is an increase in the price wars among the players in the market. Moreover, with the advancement of technology, the cost of development of machine tools is going down. This is also because of the large variety of vendors and their varying pricing strategies aimed at capturing significant shares in the market. Further, the vendors are focusing on the development of economically priced products in an attempt to tap the MSME sector.
According to the report, as a result of globalization, there is an increase in competition throughout the world to manufacture high-quality products. Machine tools such as HMCs and VMCs are widely adopted by companies across industries to improve their product quality and accuracy.
Further, the report also discusses that machine tool vendors face increased competition in the market as a result of lack of effective product differentiation.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key players.
TechNavio, the market research platform of Infiniti Research Ltd, publishes periodic reports on niche and emerging technologies. For further information, please visit https://www.technavio.com/content/global-machine-tool-market-2011-2015
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TechNavio Announces the Publication of its Report “ Global Machine Tool Market 2011“2015
