Global Machine Tools Market to Reach $82.3 Billion by 2026

SAN FRANCISCO, May 19, 2021 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Machine Tools - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.

FACTS AT A GLANCE
Edition: 17; Released: May 2021
Executive Engagements: 33272
Companies: 2142– Players covered include Ace Micromatic Group; Allied Machine & Engineering Corporation; Amada Co, Ltd.; Amada Machine Tools America, Inc.; Chiron Group SE; Dalian Machine Tool Group Corporation; DMG Mori Co., Ltd.; Doosan Machine Tools Co. Ltd.; Electronica Hitech Engineering Pvt. Ltd.; FANUC Corporation; FANUC America Corporation; GF Machining Solutions Management SA; Gleason Corporation; GROB-WERKE GmbH & Co. KG; Hardinge, Inc.; Jones & Shipman Hardinge Ltd.; Haas Automation, Inc.; Hyundai WIA Co. Ltd.; JTEKT Corporation; Kennametal Inc.; Komatsu Ltd.; Makino Milling Machine Co. Ltd.; Okuma Corporation; Otto Bihler Maschinenfabrik GmbH & Co. KG; Sandvik AB; Sandvik Coromant; Schuler AG; Shanghai Machine Tool Works Ltd.; Shape Technologies Group; Sodick; Spinner Machine Tools GmbH; TAJMAC-ZPS, a.s.; Trumpf Group; Walter AG; Yamazaki Mazak Corporation and Others.
Coverage: All major geographies and key segments
Segments: Product Segment (Machining Centers, Lathe Machines, Bending & Forming Machines, Grinding, Honing, Lapping, Polishing & Buffing Machines, Milling Machines, Electrical Discharge Machines, Punching & Shearing Machines, High Power Laser Cutting Machines, Metal Working Presses, Waterjet Cutting Machines, Other Product Segments); End-Use (Automobile, Aerospace/Defense, Electronics/Electrical, Other End-Uses)
Geographies: World; USA; Canada; Japan; China; Europe; France; Germany; Italy; UK; Spain; Russia; Rest of Europe; Asia-Pacific; India; South Korea; Taiwan; Rest of Asia-Pacific; Latin America; Argentina; Brazil; Mexico; Rest of Latin America; Middle East; Africa.

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ABSTRACT-

Global Machine Tools Market to Reach $82.3 Billion by 2026
From turning, boring, milling, grinding, drilling, tapping, forming, casting, cutting to other more complex tasks, machine tools are indispensable in a wide gamut of manufacturing industries ranging from automotive, aerospace & defense, shipbuilding, electrical & electronics, precision engineering, power generation, railways to computers, medical, healthcare and biotechnology. The manufacturing industry is a critical growth driver and the shifting role of manufacturing and its level of contribution to economic development tends to impact growth patterns in the market. Growth in textile production and increased mechanization of the agricultural sector are poised to push the future demand for advanced, custom-made machine tools. Further, the increasing role of robotic tools in the production floor and technological innovations will sustain the growth momentum.

Amid the COVID-19 crisis, the global market for Machine Tools estimated at US$67.6 Billion in the year 2020, is projected to reach a revised size of US$82.3 Billion by 2026, growing at a CAGR of 3.7% over the analysis period. Machining Centers, one of the segments analyzed in the report, is projected to record a 3.7% CAGR and reach US$18.5 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Lathe Machines segment is readjusted to a revised 4.1% CAGR for the next 7-year period.

The U.S. Market is Estimated at $6 Billion in 2021, While China is Forecast to Reach $30.1 Billion by 2026
The Machine Tools market in the U.S. is estimated at US$6 Billion in the year 2021. China, the world`s second largest economy, is forecast to reach a projected market size of US$30.1 Billion by the year 2026 trailing a CAGR of 4.5% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2.2% and 3.4% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 2.6% CAGR. In the United States, manufacturing renaissance and reshoring of manufacturing are forecast to benefit the machine tools market. Spiraling labor costs in China and increasing shipping costs are fast eroding China's edge as a low cost manufacturing hub. In addition, cheap shale gas is attracting industrial companies back into the US, boding a possible return to industrialization after decades of consumption led growth. Manufacturing industries in developing countries are poised to flaunt greater demand for high quality precision equipment on par with their developed counterparts.

Bending & Forming Machines Segment to Reach $10.8 Billion by 2026
Bending & forming tools die cast metal into a desired shape by uniaxially deforming the metal blank beyond its yield strength using temperature and/or pressure gradients that do not perturb its tensile strength, such that the metal's malleability is optimally leveraged to shape it into the desired form. These automatic high-speed part changeover machines are capable of inducing any number of bends on the surfaces through continuous revolution of the manipulator and are usually deployed to create a variety of partial bends, tubular bends, isolated bends and hems. In the global Bending & Forming Machines segment, USA, Canada, Japan, China and Europe will drive the 4.1% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$6.9 Billion in the year 2020 will reach a projected size of US$9.2 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$1.6 Billion by the year 2026, while Latin America will expand at a 4.1% CAGR through the analysis period. More

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About Global Industry Analysts, Inc. & StrategyR^™
Global Industry Analysts, Inc., (www.strategyr.com) is a renowned market research publisher the world's only influencer driven market research company. Proudly serving more than 42,000 clients from 36 countries, GIA is recognized for accurate forecasting of markets and industries for over 33 years.

CONTACTS:
Zak Ali
Director, Corporate Communications
Global Industry Analysts, Inc.
Phone: 1-408-528-9966
www.StrategyR.com 
Email: [email protected] 

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