- The key vendors in the machine tools market in China 2015-2019 are DMG Mori Seiki, DMTG, and SMTCL
London, 5 August 2015: Technavio, an independent tech-focused global research firm, has announced the publication of its market research report on the machine tools market in China 2015-2019. Increasing investment in transport infrastructure is a key trend observed in this market. The Ministry of Transport in China is investing 2.5 trillion yuan for the development of airports, railways, roads, and waterways in China. Most of these activities are predicted to take place around the central and western regions of the country. This market is expected to grow at a CAGR of 6.48% during the forecast period of 2014-2019.
The recent surge in construction activities in this region has bolstered the prospects for growth in this market. The introduction of innovative technologies coupled with the removal of excess production capacity in industries is expected to boost the demand for machine tools in China. Also, the government’s plan to invest in sectors like information technology, aerospace equipment, power equipment, agricultural devices, numerical control tools and robotics, railway equipment, and fuel efficient vehicles will boost growth in this market.
“The machine tools market in China is witnessing the development of numerical control (NC) and computer numerical control (CNC) machines in the mid and small-scale industries. This entails a shift from manually-controlled conventional machines to new and advanced machines that can be operated using programmed commands and computers to increase productivity,” says Faisal Ghaus, Vice President of Technavio Research.
“. NC and CNC machine components are designed using CAD and CAM, which help in creating an accurate machine that can operate efficiently and effectively. End-users are increasingly adopting NC and CNC machines to increase the quality of the product and reduce human effort and time.”
To define the market conditions in the next 3-4 years, Technavio analysts have conducted in-depth analysis of the impact of market drivers, challenges, and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
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