Technavio announces global machine tools market worth $120.7 billion by 2020

Renewable energy


This market research report includes a detailed segmentation of the global machine tools market by product type (metal cutting, accessories, and metal forming) and by end-users (automotive, general machinery, precision engineering, and transport industries). It outlines the market shares for key regions such as the Americas, APAC, and EMEA. The key vendors analyzed in this report are DMTG, DMG Mori, SMTCL, and Yamazaki Mazak.

Technavio has released a new market research report on the global machine tools market, which is expected to grow at a CAGR of 7% between 2016 and 2020. Machine tools eliminate changeovers and reduce downtimes, thereby ensuring higher production rates. Rising demand for fabricated metals from the construction and machinery industries are boosting the demand for machine tools. APAC is the largest revenue-contributing region in the machine tools market. Much of this region’s growth is largely attributed to the growth of automotive and industrial sectors.

The new industry research report from Technavio discusses in detail the key drivers and trends responsible for the growth of this market and its sub-segments.

“Changes in 3D printing technology are influencing the demand for machine tools. Several machine tool manufacturers are incorporating 3D printing technology into their machine tools. It results in faster delivery of new products in the market and reduction in development costs as nearly 30%-70% less material is required to manufacture a product using 3D printing technology. For instance, Japanese machine tool manufacturer Yamazaki Mazak has integrated metal 3D printing technology into its CNC product line,” says Anju Ajaykumar, Lead Analyst, Heavy Industry, Technavio Research.

The metal cutting segment dominates the machine tools market. Improved technological advances are leading to the development of smaller metal cutting machine tools in the market. These tools find applications in electrical and electronics equipment, machinery, fabricated metal products, and transport equipment manufacturing sectors. The growth of end-user industries such as automotive and aerospace will fuel the growth of the machine tools segment over the next four years.

Global metal cutting machine tools market 2015-2020 ($ billions)

Source: Technavio, 2016

The key players in the global machine tools market are DMTG, DMG Mori, SMTCL, and Yamazaki Mazak. This market is highly fragmented because of the presence of numerous small and large vendors. The market is characterized by the presence of well-diversified international, regional, and local vendors.  

A more detailed analysis is available in the Technavio report, Global Machine Tools Market 2016-2020.

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

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