The Worldwide Machine Tools Industry Is Expected To Reach $96.8 Billion By 2027'

DUBLIN, May 23, 2022 /PRNewswire/ -- The 'Global Machine Tools Market Size, Share & Industry Trends Analysis Report By Type, By Technology, By Sales Channel, By End-use, By Regional Outlook and Forecast, 2021-2027' report has been added to ResearchAndMarkets.com's offering.

The Global Machine Tools Market size is expected to reach $96.8 billion by 2027, rising at a market growth of 4.0% CAGR during the forecast period.The industrial sector's great focus on increasing efficiency and decreasing downtime is projected to fuel market growth. The growing demand for mass production in industries such as aerospace and military, as well as other industries and industry verticals, is likely to increase machine tool usage. Metal cutting tool demand is increasing in tandem with the high use of metals in numerous industries, which bodes well for market growth. Integration of Computer-Aided Producing (CAM) in machine tools to cut the time necessary for manufacturing work pieces and make sure trouble-free production of micro components is becoming a prominent market trend.The goal of Industry 4.0 is to reduce idle time and improve the usage of machine tools. Analyzing data linked to tool changes and program stops can be particularly useful in identifying and correcting the source of idle time, resulting in more efficient machine tool utilization. Various bearing manufacturers, like The Timken Company and NSK Ltd., are concentrating on the development of bearings for machine tools at the very same time. The Timken Company, for example, launched a new range of precision cylindrical roller bearings in October 2019 that are designed to maximize efficiency and speed in high-demand applications.Computer Numerical Control (CNC) systems have emerged as a result of advances in machine learning and automation. CNC systems enable operators to send assembly code to a computer and conduct several operations on the same machine without wasting time. Different lubricant makers, on the other hand, are collaborating with market players such as DMG MORI and Komatsu, Ltd. to develop lubricants for their equipment. DMG MORI and FUCHS PETROLUB SE, for example, signed a partnership deal in September 2017 that entails the two firms working together to develop novel lubricant services and solutions for machine tool applications COVID-19 Impact Analysi s

In 2020, the outbreak of the COVID 19 pandemic had a significant economic impact on all industrial sectors around the world. Additionally, machine tool manufacturers are encountering issues as a result of this downturn, which has resulted in a production and sales slowdown in 2020. Furthermore, the imposed lockdown has resulted in the complete halt of manufacturing operations, supply chain problems, personnel availability, and raw material shortages.Amid the emergence of a global strain caused by a new coronavirus, suppliers are concentrating on resuming production while complying with government guidelines to finish pre-existing orders and support end-users. For example, Mazak Corporation is reportedly serving its clients' existing orders and aggressively giving help to the healthcare and power generation industries, despite the government's execution of worker safety regulations. Market driving Factors:

Growing need for smart machine tools

The technological breakthroughs such as the increased deployment of robotics and human-machine interaction are found to have an impact on market growth. The demand for real-time connectivity is fuelling the emergence of smart factories that are cloud-enabled. As a result, the tool is becoming an important component of smart systems, which is projected to boost the product's popularity. Sensors are included in these smart equipment to help optimize machine time and maintenance schedules. This information can be examined and used to boost productivity. Furthermore, the sensors can help with predictive analysis of these tool parts and their life cycle. High Demand for Additive Manufacturing and Hybrid Machine Tools

A rise in demand for additive manufacturing is contributing to the market growth. Manufacturers are moving toward more cost-effective and quick production processes, which is leading to a rise in the use of additive manufacturing. Moreover, the market is predicted to expand due to the increased popularity of heterogeneous material manufacturing capabilities. CNC manufacturers intend to incorporate additive manufacturing into their operations. Okuma, for instance, plans to offer its new Laser EX equipment in the future, which will provide laser hardening for carbon steel materials, as well as laser heating and self-cooling hardening. As a result, such creative technology combinations are projected to continue to support market expansion in the future. Marketing Restraining Factor:

Uncertainty related to social and economic factors

Changes in overall economic conditions are causing a significant change in the operation of various industries, including manufacturing sector. The manufacturing industry's expenditures are proportionate to the sales of these tools. As a result, if the global economy slows, machine tool income is projected to fall. Similarly, due to the increased acceptance of machinery in the industry, trends in the automobile industry have had a greater impact on the tools sector. The patterns in capital investment in the automotive manufacturing sector, on the other hand, have a substantial impact on market revenue. Unexpected changes in a country's economic, political, or social situations, as well as legislation, can have an impact on the market revenue growth.

Key Topics Covered: Chapter 1. Market Scope & Methodology Chapter 2. Market Overview 2.1 Introduction2.1.1 Overview2.1.1.1 Market Composition and Scenario2.2 Key Factors Impacting the Market2.2.1 Market Drivers2.2.2 Market Restraints Chapter 3. Competition Analysis - Global 3.1 Publisher Cardinal Matrix3.2 Recent Industry Wide Strategic Developments3.2.1 Partnerships, Collaborations and Agreements3.2.2 Product Launches and Product Expansions3.2.3 Acquisition and Mergers3.2.4 Geographical Expansions3.3 Top Winning Strategies3.3.1 Key Leading Strategies: Percentage Distribution (2017-2021)3.3.2 Key Strategic Move: (Product Launches and Product Expansions: 2017, Jun - 2022, Jan) Leading Players3.3.3 Key Strategic Move: (Partnerships, Collaborations and Agreements: 2018, Aug - 2021, Jun) Leading Players Chapter 4. Global Machine Tools Market by Type 4.1 Global Lathe Machines Market by Region4.2 Global Milling Machines Market by Region4.3 Global Laser Machines Market by Region4.4 Global Grinding Machines Market by Region4.5 Global Welding Machines Market by Region4.6 Global Winding Machines Market by Region4.7 Global Others Market by Region Chapter 5. Global Machine Tools Market by Technology 5.1 Global Computer Numerical Control (CNC) Market by Region5.2 Global Conventional Market by Region Chapter 6. Global Machine Tools Market by Sales Channel 6.1 Global Direct Market by Region6.2 Global Indirect Market by Region Chapter 7. Global Machine Tools Market by End-use 7.1 Global Automotive Market by Region7.2 Global Aerospace & Defense Market by Region7.3 Global Construction Equipment Market by Region7.4 Global Power & Energy Market by Region7.5 Global Industrial Market by Region7.6 Global Others Market by Region Chapter 8. Global Machine Tools Market by Region Chapter 9. Company Profiles 9.1 Hyundai Wia Corporation (Hyundai Motor Company)9.1.1 Company Overview9.1.2 Financial Analysis9.1.3 Regional & Segmental Analysis9.1.4 Research & Development Expenses9.2 Schuler Group GmbH (Andritz Group)9.2.1 Company Overview9.2.2 Financial Analysis9.2.3 Regional & Segmental Analysis9.2.4 Research & Development Expenses9.3 CHIRON Group SE (Hoberg and Driesch GmbH & Co.)9.3.1 Company Overview9.3.2 Recent strategies and developments:9.3.2.1 Product Launches and Product Expansions:9.4 JTEKT Corporation9.4.1 Company Overview9.4.2 Financial Analysis9.4.3 Regional & Segmental Analysis9.4.4 Research & Development Expenses9.4.5 Recent strategies and developments:9.4.5.1 Partnerships, Collaborations, and Agreements:9.5 AMADA CO., LTD.9.5.1 Company Overview9.5.2 Financial Analysis9.5.3 Segmental and Regional Analysis9.5.4 Research & Development Expenses9.5.5 Recent strategies and developments:9.5.5.1 Product Launches and Product Expansions:9.5.5.2 Acquisition and Mergers:9.5.6 SWOT Analysis9.6 Okuma Corporation9.6.1 Company Overview9.6.2 Financial Analysis9.6.3 Regional Analysis9.6.4 Research & Development Expenses9.6.5 Recent strategies and developments:9.6.5.1 Partnerships, Collaborations, and Agreements:9.6.5.2 Product Launches and Product Expansions:9.6.5.3 Acquisition and Mergers:9.6.5.4 Geographical Expansions:9.6.6 SWOT Analysis9.7 DMG MORI CO., LTD.9.7.1 Company Overview9.7.2 Financial Analysis9.7.3 Segmental and Regional Analysis9.7.4 Recent strategies and developments:9.7.4.1 Partnerships, Collaborations, and Agreements:9.7.4.2 Product Launches and Product Expansions:9.7.4.3 Acquisition and Mergers:9.8 Komatsu Ltd.9.8.1 Company Overview9.8.2 Financial Analysis9.8.3 Segmental Analysis9.8.4 Research & Development Expense9.8.5 Recent strategies and developments:9.8.5.1 Acquisition and Mergers:9.9 Georg Fischer Ltd.9.9.1 Company Overview9.9.2 Financial Analysis9.9.3 Segmental and Regional Analysis9.9.4 Research & Development Expenses9.9.5 Recent strategies and developments:9.9.5.1 Partnerships, Collaborations, and Agreements:9.10. Makino Milling Machine Co., Ltd.9.10.1 Company Overview9.10.2 Recent strategies and developments:9.10.2.1 Product Launches and Product Expansions:9.10.2.2 Acquisition and Mergers:

For more information about this report visit

Media Contact:

Research and MarketsLaura Wood, Senior Manager[email protected]

For E.S.T Office Hours Call +1-917-300-0470For U.S./CAN Toll Free Call +1-800-526-8630For GMT Office Hours Call +353-1-416-8900

U.S. Fax: 646-607-1904Fax (outside U.S.): +353-1-481-1716

SOURCE Research and Markets

MENAFN23052022003732001241ID1104260193