Technavio, a tech-focused market research firm, has published a new report on the global multi-tasking machine tools market, which is expected to grow at a CAGR of close to 3% during the forecast period, 2017-2021.
Based on geographical segmentation, Technavio market researchers categorize the global multi-tasking machine tools market into the following key regions: The Americas, APAC, and EMEA.
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Top three contributors for the global multi-tasking machine tools market are elaborated below
Multi-tasking machine tools market in the Americas: The US is the largest manufacturer of medical devices not only in the Americas but worldwide also, with sales in the country accounting for about 45% of the total medical device sales globally in 2014. The existence of the TPP agreement with trade partners such as Mexico, Chile, and Vietnam, which lack modern medical technology, will continue to generate stable demands, leading to the growth of the multi-tasking machine tools market in the Americas.
According to Anju Ajaykumar, a lead analyst at Technavio, specializing in research on tools and components, “The medical devices sector in the US mostly comprises small and medium enterprises. The US also has the highest per-capita health care spending not only in the region, but globally.”
Multi-tasking machine tools market in EMEA: Some of the key manufacturers of medical devices in the region are Germany, France, and the Netherlands. Rising demand for medical devices, resulting from population growth, urbanization, and by increasing government investments in healthcare, is anticipated to reflect positively on the growth of this market during the forecast period.
Multi-tasking machine tools market in APAC: Advances in technology, an aging population, and increased healthcare spending in this region will translate into tremendous growth potential for local and MNC medical devices companies, thereby propelling the demand for multi-tasking machine tools in APAC. China, Japan, and South Korea are likely to emerge as key revenue generating countries in the multi-tasking machine tools market in APAC during the forecast period.
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The top leading vendors operating in the global multi-tasking machine tools market are:
- Doosan Machine Tools
- Mazak
- Nakamura-Tome Precision Industry
- Okuma
- Tsugami
Other prominent vendors in the market include Accuway Machinery, Breton, Brother, DMG Mori, Hwacheon Machine Tools, Hyundai WIA, Takisawa Machine Tool Company, Tongtai Machine & Tool Company, Toyoda, and Trevisan Machine Tool.
A more detailed analysis is available in the Technavio report titled, ‘Global Multi-tasking Machine Tools Market 2017-2021’. Technavio also customizes reports by other regions and specific segments upon request.
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