The machine tools market in the US is segmented by product (metal cutting machine tools, metal forming machine tools, and others) and by end-user (automotive, general machinery, transport machinery, electronics, and others).
Technavio’s market research analysts estimate the machine tools market in the US to grow at a CAGR of around 4% during the forecast period of 2014-2019. Currently, the US is the second largest manufacturer of consumer goods in the world, accounting for almost 19% of the global output. The conducive business environment in the US acts as an incentive for companies to establish their manufacturing operations in this region.
The new market research report from Technavio provides a breakdown and analysis of the machine tools market in the US by end-user.
“The automotive segment is growing faster than the other segments because of the recovering economy and improving consumer confidence. Analysts expect auto sales in the US to hit a record high figure by 2015 because of the rising demand for new, technologically-advanced, and fuel-efficient cars with more safety features. Additionally, corporate restructuring of the production process has resulted in increased production capacity and greater profit margins,” says Navin Rajendra, Lead Analyst, Automation, Technavio Research.
This report also offers a breakdown of the market shares by product types, including metal cutting machine tools, metal forming machine tools, and other tools. The metal cutting machine tools segment dominates the market in terms of revenue and takes up nearly 50% of the total market. Application of metal cutting machine tools in the machinery, electrical and electronic equipment, fabricated metal products, and transport equipment manufacturing industries will enable this segment to surpass US$ 4,500 million by 2019.
Metal cutting machine tools market in the US 2014-2019
Source: Technavio, 2015
Top companies in this market include DMTG, DMG MORI, Haas Automation, JTEKT, and Komatsu. The report provides an overview of these companies, their financial overview, business strategies, and recent developments, as well as an in-depth discussion of the main market drivers, challenges, and trends.
https://www.technavio.com/%3Cp%3EA%20more%20detailed%20analysis%20is%20av…
