Machine tools market in Germany expected to exceed US $11 billion by 2019, says Technavio

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Technavio’s market research analysts estimate the machine tools market in Germany to grow at a CAGR of around 5% between 2015 and 2019. Factors like the growing need for on-time delivery of high quality machined parts and increased shift towards miniaturization across end-users industries are driving this market’s growth.

The new market research report from Technavio provides a breakdown and analysis of the machine tools segments by technology.

“Continuous R&D developments have resulted in advanced machine tools, especially the computerized numerical control (CNC) machines. Since these machines are highly efficient and productive, incorporation of new technologies now majorly happens through CNC. The demand for small and compact CNC machines that can perform specific functions such as drilling or milling on a small scale is increasing considerably. Vendors are also providing mobile-based applications to comprehend the operation and working of CNC machines,” says Navin Rajendra, Lead Analyst, Industrial Automation, Technavio Research.

The metal cutting machine tools segment dominates the machine tools market in Germany, accounting for around 55% of the total market share. These machine tools include machining centers; lathes, grinding and polishing machines; boring, drilling, and gear cutting machines; lasers; electrical discharge machines; and water jet machines. The metal cutting machine tools are very advantageous for making complex or minute cuts for hardened materials, offer minimum wastage of materials and have fast machining time.

The leading vendors in Germany’s machine tools market are DMG MORI SEIKI, Schuler and TRUMPF Group. Intense competition prevails in this market due to innovations and the presence of many global and domestic vendors. Vendors are making heavy investments in upgrading their technologies to attract new customers by offering a broad range of products at competitive prices. Also, some players are offering customized machine tools based on customer requirements.

A more detailed analysis is available in the Technavio report Machine Tools Market in Germany 2015-2019.

We can customize reports by other regions and specific segments upon request.

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