According to a new report, published by KBV research, 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 Laser Machines segment has shown growth rate of 4.4% during (2021 - 2027). Because laser technology has the potential to assure high accuracy and finer cuts on the surface of work pieces, the laser machines category is expected to grow significantly. Laser cutting systems are utilized in a wide range of applications where parts must be processed with more precision for improved edge quality. The laser beam does not wear out throughout the machining process, which is a significant benefit of laser cutting technology. Other reasons projected to boost the segment's growth include the development of innovative process lasers to optimize the manufacture of bespoke three-dimensional glass components and the looming move from traditional semiconductor lasers to quantum cascade lasers.
The Computer Numerical Control (CNC) segment is leading the Global Machine Tools Market by Technology 2020, thereby, achieving a market value of $75.6 billion by 2027. This is owing to the increased need in industries such as military and aerospace, as well as automotive, to reduce operational costs, staff, and component problems. The growing amount of venture capital money going to companies that provide software for CNC machines is good news for the CNC sector. Manufacturers are concentrating their efforts on the most recent technological advancements in the field of CNC software to improve the connectivity between machines and operators while increasing shop floor flexibility, which is appearing as another prominent trend in the industry.
The Direct segment acquired maximum revenue share in the Global Machine Tools Market by Sales Channel 2020, thereby, achieving a market value of $62.1 billion by 2027. The presence of various distributors is propelling the expansion of the market. For instance, Champions Machine Tool Sales, is in charge of Haas Automation, Inc.'s machine tool distributors in Texas. Companies such as DMG MORI and Georg Fischer, Ltd., among others, are focusing on the expansion of the internet sales channel, which is contributing to the direct segment's growth. The direct market is also rising due to a rising desire for purchasing machine tools using e-commerce platforms like Alibaba.com and Machine Tools Online, among others. Manufacturers like Okuma Corporation and DMG MORI, on the other hand, have built online sites to encourage direct sales of their machine tools. But, the COVID-19 pandemic is harming the distribution of products through e-commerce websites, which could slow the segment's growth in the immediate term.
The Power & Energy market is showcasing a CAGR of 4.5% during (2021 - 2027). Leading manufacturing companies in this industry have extensive experience with cutting-edge manufacturing techniques as well as the creation of specialized equipment to ensure the accuracy & quality necessary in the energy industry. Frames, hubs, bodies, and shafts of turbines, components of speed multipliers, compressors, generators, planetary gears, rotor housing, tower, machine tools, ring, and other high-value-added components are among the components for which they provide custom solutions.
The Asia Pacific market dominated the Global Machine Tools Market by Region 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $36.9 billion by 2027. The Europe market is estimated to grow at a CAGR of 3.4% during (2021 - 2027). Additionally, The North America market would exhibit a CAGR of 3.6% during (2021 - 2027).
Full Report: https://www.kbvresearch.com/machine-tools-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Hyundai Wia Corporation (Hyundai Motor Company), Schuler Group GmbH, CHIRON Group, JTEKT Corporation, AMADA CO., LTD., Okuma Corporation, DMG Mori Co. Ltd., Komatsu Ltd., Georg Fischer Ltd., and Makino Milling Machine Co., Ltd.
By Type
By Technology
By Sales Channel
By End-use
By Geography
Companies Profiled
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