The global machine tools market is currently buoyant and projected to exhibit healthy sales growth across most sectors. World machine tools market stands enthused by the increasing technological developments and growing needs for highly sophisticated machinery in the manufacturing sector. World machine tools market is characterized by globalization, consolidation and product innovation trends. In sync with changing technological needs, the machine tools industry has also realigned itself to maintain relevancy in the marketplace.
The world market for machine Tools is forecast to maintain an impressive CAGR of 7.20 percent over the years 2001-2010 and reach in excess of US$68.8 billion by the end of the decade. With an estimated 2007 share of 58.53 Metal Cutting Tools form the largest segment in the global Machine Tools market. The segment is also forecast to register the fastest CAGR of 7.60 percent over the years 2001-2010.
In terms of end use industry, Automobiles account for the lion's share of the global machine tool consumption, with a share estimated at 42.78 percent in 2007. Fastest growth, however, is expected from the Electronics/Electrical Machinery & Equipment Applications for Machine Tools that are expected to exhibit a CAGR of nearly 9 percent over 2001-2010.
The early part of the new millennium witnessed lethargy in business conditions, especially in the United States. Today, sedate demand patterns in the developed markets are being partially offset by sturdy gains in Asian economies and by the growing demand for machine tools. Rising production costs, and fierce competition from Asian imports, is leading manufacturers to shift production bases to low cost Asian countries, primarily China, in order to achieve price advantages. Significant growth opportunities lie in store for foreign players in most of the Asian markets.
Global market for machine tools has been experiencing a moderate growth over the last few years. Japan continues to be the largest manufacturer of machine tools with over 22 percent of the total global production, followed by Germany, China and Italy. China is the largest consumer of machine tools constituting more than 20% of total machine tools consumption, followed by Japan, and the US. Strong demand from China and growing consumption across the Asian economies propped the volume and value sales of machine tools. However, the world market for machine tools is characterized by its extreme sensitivity to economic conditions. Propitious results are on the cards in the markets of Eastern European countries due to the requirement of modernization as well as the rapid increase in the capital required for making investments. Turkey as well as Latin American countries, including Brazil, are expected to register sizable growth above the global average in the worldwide machine tools market. Consumption of machine tools in the U.S. gained a healthy 5 percent in 2006, retaining its position in the top three consumers of machine tools. However, the country is losing on the production front, due to impressive gains registered by South Korean and Taiwanese markets.
Major companies covered include Agie Charmilles Management Ltd., Allied Machine & Engineering Corporation, Amada Group of Companies, Cincinnati Automation & Test, Doosan Infracore Company Ltd., FANUC Ltd., Giddings & Lewis Machine Tools LLC, Gildemeister Aktiengesellschaft, Hardinge Inc., Kennametal Inc., Makino Milling Machine Company Ltd., Mori Seiki Company Ltd., Okuma Corporation, Otto Bihler Maschinenfabrik GmbH & Company KG, Shanghai Machine Tool Works, Sodick Inc, Spinner Werkzeugmaschinenfabrik GmbH, TAJMAC - ZPS, a. s., Trumpf GmbH + Company KG, Walter AG and Yamazaki Mazak Corporation.
"Machine Tools: A Global Strategic Business Report", published by Global Industry Analysts Inc., provides a comprehensive review of market trends, recent developments, mergers, acquisitions, profiles of major players and other strategic industry activities. Analysis is presented for major geographic markets such as US, Canada, Japan, France, Germany, Italy, the UK, Spain, Russia, Asia-Pacific, Middle East/Africa, and Latin America. Analytics for the period 1991 through 2015 are provided in terms of Product Segments including Metal Cutting Tools (Boring & Drilling Machines; Gear Cutting Machines; Grinding, Honing, Lapping, Polishing, and Buffing Machines; Lathes; Milling Machines; Machining Centers; Station Type Machines; and Miscellaneous Tools), Metal Forming Tools (Punching & Shearing Machines; Bending & Forming Machines; Metal Working Presses; and Miscellaneous Tools), and Special Machine Tools (Water Jet Machines; Laser Machines; Electro Chemical Machines; Electrical Discharge Machines; and Coordinate Measuring Machines). The report also covers analytics by End-Use industries including Automobiles, Aerospace/Defense, Non-Electric Machinery & Equipment, Electronics/Electrical Machinery & Equipment, and Other Applications.
For more details about this research report, visit http://www.strategyr.com/Machine_Tools_Market_Report.asp.
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