Metal Cutting Machine Tools Market worth USD 109.39 billion by 2026; Increasing Demand for Prefabricated Metal to Aid Growth, says Fortune Business Insights

10 December 2019

Pune, Dec. 10, 2019 (GLOBE NEWSWIRE) -- The global Metal Cutting Machine Tools Market size is projected to reach USD 109.39 billion by the year 2026. The market will benefit from the increasing demand for prefabricated metal. According to a report published by Fortune Business Insights, titledMetal Cutting Machine Tools Market Size, Share & Industry Analysis, By Product (Machining Centres, Lathe Machines, Boring Machines, Grinding Machines, Milling Machines, Others), By Application (Automotive, General Machinery, Precision Machinery, Transport Machinery, Others), and Regional Forecast, 2019-2026,” the market was worth USD 74.31 billion in 2018. Driven by applications across diverse industries, the market will exhibit a CAGR of 4.8% during the forecast period, 2019-2026.

Metal cutting machine tools are used for several purposes across diverse industries. They find applications in automotive, aerospace and defense, and machinery and equipment. The demand for these products has risen dramatically in recent years, owing to the increasing adoption of precision equipment. The rising popularity of additive manufacturing has made a positive impact on the growth of the market in recent years. Recent product innovations in metal cutting machine tools will bode well for the companies operating in this market. Additionally, technological advances have emerged in favor of these companies. Recent technological advancements in manufacturing of metal cutting machine tools have enabled improved operating efficacies and minimum wastages. Moreover, advent of 3D printing methods has enabled significant growth of the market in recent years.

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The market is segmented on the basis of various criteria, including product type, application, and regional demographics. The report offers insights into the latest Metal Cutting Machine Tools Market trends. The competitive landscape has been discussed in detail. Predictions have been made with respect to leading companies. Moreover, forecast values are provided for the period of 2019-2026. Factual figures are obtained through trusted sources. Predictions for leading elements are derived through opinions and interviews of experienced market research professionals.

Recent Product Innovations Will Aid Growth

The report encompasses several factors that have contributed to the growth of the market in recent years. Among all factors, the increasing number of product innovations have made the highest impact on the growth of the market. Major companies are putting in maximum efforts in the form of upfront investments as well as emphasis on research and development of newer products. In September 2019, Star Micronics announced its plans to launch SX-38, a large model with several functioning capabilities. The company plans to make the product commercially available by April 2020. The product is aimed at manufacturing sectors such as automotive, aerospace, and medical applications. Furthermore, the upgraded CNC roll turning lathe from Sparkonix Pvt. Ltd. is another example of a recent product innovation that has caught the eye of several innovators across the world. The report includes product launches, similar to these and gauges their impact on the global market.

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Asia Pacific to Dominate the Market; Increasing Government Investments to Aid Growth

The market is segmented on the basis of regional demographics into North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. Among these regions, the market in Asia Pacific will emerge dominant in the coming years. Increasing government initiatives to promote the use of electric vehicles will create several opportunities for market growth. The use of fabricated metal in the manufacturing sectors across diverse industries will aid the growth of the market in this region. Besides Asia Pacific, Europe and North America will exhibit high growth, driven by the growing demand for prefabricated metal. As of 2018, the market in Asia Pacific was worth USD 38.13 billion and this value is projected to increase even further in the coming years. 

List of the leading companies that are operating in the Metal Cutting Machine Tools Market are:

  • Yamazaki Mazak Corporation
  • Doosan Machine Tools Co., Ltd.
  • Trumpf
  • Amada Machine Tools Co., Ltd
  • JTEKT Corporation
  • Okuma Corporation
  • Hyundai WIA
  • FANUC America Corporation
  • Komatsu Ltd.
  • Makino

Key Industry Developments:

November 2019: Okuma announced the launch of a new machining centre, catering to large components in the semiconductor industry. The MB-80V High Accuracy Machining Centre can serve several purposes in the automobile die/mould applications.

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Table of Content:

  • Introduction
    • Definition, By Segment
    • Research Approach
    • Sources
  • Executive Summary
  • Market Dynamics
    • Drivers, Restraints and Opportunities
    • Emerging Trends
  • Key Insights
    • Macro and Micro Economic Indicators
    • Key Technological Developments
    • Consolidated SWOT Analysis of Key Players
  • Global Metal Cutting Machine Tools Market Analysis, Insights and Forecast, 2015-2026
    • Key Findings / Summary
    • Market Sizing Estimations and Forecasts – By Product (Value)
      • Machining Centers
      • Lathe Machines
      • Boring Machines
      • Grinding Machines
      • Milling Machines
      • Others (Drilling Machines, Turning Machines, and etc.)
    • Market Sizing Estimations and Forecasts – By Application (Value)
      • Automotive
      • General Machinery
      • Precision engineering
      • Transport Machinery
      • Others
    • Market Analysis, Insights and Forecast – By Region (Value)
      • North America
      • Europe
      • Asia Pacific
      • Middle East & Africa
      • Latin America


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