Proliferating Demand from Automotive & Transportation Sector to Spur Machine Tools Market Growth
UNITED STATES, September 29, 2021 /EINPresswire.com/ — The market study done by Fact.MR gives exclusive information about how the market will grow. The study identifies crucial trends that are determining the growth of Laser Machine Tools market. This newly published report sheds light on vital dynamics, such as the drivers, restraints, and opportunities for key market players as well as emerging players associated with the production and supply. The latest report by Fact.MR provides detailed Market Analysis of Laser Machine Tools
The report offers actionable and valuable market insights of Laser Machine Tools. The latest report by Fact.MR provides details on the present scenario of the market across various regions along with the historic data and forecast of the market. The report also includes information on the sales and demand of Laser Machine Tools Market across various industries and regions.
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This newly published and insightful report sheds light on Market Insights of Laser Machine Tools, key dynamics, their impact on the overall value chain from suppliers to end-users and Growth of Laser Machine Tools Market.
The global machine tools market was valued at ~US$ 72 Bn at the end of 2019 and is anticipated to surpass US$ 99 Bn by the end of the forecast period 2020-2030. The Automotive & Transportation segment is estimated to be the most lucrative end use capturing 36% of the overall demand pie in the global machine tools market.
Furthermore, manufacturers are adopting green manufacturing to reduce the overall operating cost by using energy efficient processes that can drastically reduce energy and utility bills, thus fueling the demand for machine tools with lesser power consumption. However, the recent COVID-19 pandemic has resulted in production shortfall coupled with disruptions in supply chain in several industries such as the automotive sector. However, the global demand for machine tools market is foreseen to fare well with the sudden down shift in the global demand.
Key Takeaways of the Machine tools Market
• Global machine tools market is expected to create an absolute $ opportunity of more than US$ 26 Bn and is anticipated to expand 1.4X from 2020 through 2030
• Metal cutting machine tools are projected to surpass market valuation of US$ 94 Bn by the end of 2030
• Electrical & Electronics end use segment is anticipated to grow, gaining 171 BPS over the course of forecast duration
• South Asia is projected to grow 1.2X faster than East Asia. However, East Asia is estimated to account for major chunk of demand pie by the end of the forecast period
• Automotive and transportation segment is projected to create an absolute $ opportunity of ~US$ 7.5 Bn between 2020 and 2030
“The ongoing spread of the COVID-19 pandemic across the globe will delay the economic restart. Furthermore companies with heavy production and sales footprint in Europe and China are witnessing a direct impact on machine tools sales, imports and exports. However, slow but quick recovery is expected from china which will result in a positive uptake of machine tools” says the Fact.MR analyst
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Product Launches to Remain a Prime Growth Lever
Key players in the machine tools market are Komatsu Limited, DMG Mori, Okuma Corporation, TRUMPF Group, Hyundai WIA Corporation and Doosan Machine Tools among others. Prominent machine tools manufacturers are launching new products and capitalizing significantly in their R&D endeavors to bring constant change in their line of products as per the todays dynamic industry trends. For instance,
• In 2020, United Grinding and Ewag developed a new product, Laser Line Ultra to simplify micro cutting tool production. This newly developed product uses an 8-axis configuration and picosecond lasers to incorporate complex micro geometries in cutting tools
• In 2020, Doosan Machine Tools expanded its product portfolio with the introduction of DNM 4500L and DNM 5700L. The new DNM series products are designed for faster and precise machining of diverse workpieces.
Key Segments of the Machine Tools Market
Fact.MR’s study on the Machine Tools market offers information divided into three key segments-product type, end-use, and region. This report offers comprehensive data and information about important market dynamics and growth parameters associated with these categories.
• Metal Cutting
• Machining Centres & Related
• Laser, EDM, & Related
• Other Metal Cutting
• Metal Forming
• Punching & Shearing Machines
• Bending & Forming Machine
• Other Metal Forming
• Automotive & Transportation
• Electrical & Electronics
• General Manufacturing & Others
• North America
• Latin America
• East Asia
• South Asia
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Key Questions Answered in Fact.MR’s Machine Tools Market Report
• Which regions will continue to remain the most profitable regional markets for machine tools market players?
• Which factors will induce a change in the demand for machine tools during the assessment period?
• How will changing trends impact the machine tools market?
• How can market players capture the low-hanging opportunities in the machine tools market in developed regions?
• Which companies are leading the machine tools market?
• What are the winning strategies of stakeholders in the machine tools market to upscale their position in this landscape?
More Valuable Insights on Laser Machine Tools Market
Fact.MR, in its new report, offers an unbiased Market Analysis of Laser Machine Tools, Sales and Demand of Laser Machine Tools, analyzing forecast statistics through 2019 and beyond. The study reveals growth projections on the basis of various criteria.
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