Global Machine Tools Market: Insights & Forecast with Potential Impact of COVID-19 (2020-2024)

Dublin, July 16, 2020 (GLOBE NEWSWIRE) -- The "Global Machine Tools (Metal Cutting & Metal Forming) Market: Insights & Forecast with Potential Impact of COVID-19 (2020-2024)" report has been added to ResearchAndMarkets.com's offering.

The global machine tool market is forecasted to reach US$67.9 billion in 2024, growing at a CAGR of 6.06% for the period spanning 2020-2024.

The factors such as accelerating industrialization, increasing shipments of 5G smartphones, rapid urbanization, increasing electric vehicle deployment and improving consumer confidence are expected to drive the market. However, growth of the industry would be challenged by high maintenance cost, stiff competition and US-China trade war. Few notable trends include increasing laser machine tool sector, the emergence of hybrid technology, surging adoption of IoT in machine tool and growing turnkey project demand in Japan.

In 2020, the outbreak of COVID-19 pandemic has created an unfavorable impact on the market as the machine tools orders have decreased rapidly.

The machine tools which are operated by a worker turning a handle are used mainly in developing markets. Numerical Control (NC) machine tools that perform automatic operations based on numerical control using a computer are already widespread in developed markets, including Japan, Europe, and the U.S. (NC machine tools account for over 90% of machine tool production value in Japan).

The fastest-growing market is China due to strong demand for CNC machining centers, lathes & grinding machines; a growth in installation of energy grids, growing demand for highly advanced & comprehensive metal cutting machines, rising defence & aerospace industry, increasing technological advancements and rapid urbanization in the country.

Scope of the Report

• The report provides a comprehensive analysis of the global machine tool market on the basis of segments i.e. metal cutting & metal forming and applications i.e. automotive, general machinery, precision engineering and transport machinery.

• The major country markets i.e. China, US, Germany, UK and Japan have been analysed.

• The market dynamics such as growth drivers, market trends and challenges are analysed in-depth.

• The competitive landscape of the market, along with the company profiles of leading players i.e. TRUMPF GmbH + Co. KG, DMG Mori Seiki Co., Ltd., Amada Co. Ltd, JTEKT Corporation, Okuma Corporation and The Buhler Group are also presented in detail.

Key Topics Covered

1. Market Overview
1.1 Introduction
1.2 Classification
1.3 Mode of Operations
1.4 Supply Chain

2. Impact of COVID-19
2.1 Introduction
2.2 Decline in Global GDP Growth
2.3 Change in Organic Traffic
2.4 Disruption of Supply Chain
2.5 US Machine Tool Market
2.6 Europe Machine Tool Market
2.7 Asia-Pacific Machine Tool Market

3. Global Machine Tool Market Analysis
3.1 Global Machine Tool Market Value
3.2 Global Machine Tool Market Value Forecast
3.3 Global Machine Tool Market Value by Segments
3.3.1 Global Metal Cutting Machine Tool Market Value
3.3.2 Global Metal Cutting Machine Tool Market Value Forecast
3.3.3 Global Metal Cutting Machine Tool Market Value by Segments
3.3.4 Global Machining Center Market Value
3.3.5 Global Machining Center Market Value Forecast
3.3.6 Global Lathe Machine Market Value
3.3.7 Global Lathe Machine Market Value Forecast
3.3.8 Global Grinding Machine Market Value
3.3.9 Global Grinding Machine Market Value Forecast
3.3.10 Global Metal Forming Machine Tool Market Value
3.3.11 Global Metal Forming Machine Tool Market Value Forecast
3.4 Global Machine Tool Market Value by Applications
3.5 Global Machine Tool Market by Country

4. Regional (Ex. Japan) Machine Tool Market Analysis
4.1 China
4.2 The U.S.
4.3 Germany
4.4 Italy

5. Japan Machine Tool Market Analysis
5.1 Japan Machine Tools Orders
5.2 Japan Machine Tools Orders by Segments
5.3 Japan Machine Tools Orders by Applications
5.4 Japan Machine Tools Orders by Region
5.4.1 Japan Machine Tools Orders from North America
5.4.2 Japan Machine Tools Orders by Applications from North America
5.4.3 Japan Machine Tools Orders from China
5.4.4 Japan Machine Tools Orders from Europe
5.4.5 Japan Machine Tools Orders by Applications from Europe

6. Market Dynamics
6.1 Growth Drivers
6.1.1 Accelerating Industrialization
6.1.2 Increasing Shipments of 5G Smartphones
6.1.3 Rapid Urbanization
6.1.4 Increasing Electric Vehicle Deployment
6.1.5 Improving Consumer Confidence
6.2 Key Trends and Developments
6.2.1 Increasing Laser Machine Tool Sector
6.2.2 Emergence of Hybrid Technology
6.2.3 Surging Adoption of IoT in Machine Tool
6.2.4 Growing Turnkey Project Demand in Japan
6.3 Challenges
6.3.1 High Maintenance Cost
6.3.2 Stiff Competition
6.3.3 US-China Trade War

7. Competitive Landscape
7.1 Global Market
7.1.1 Key Players - Market Share Comparison
7.1.2 Key Players - Revenue Comparison
7.1.3 Key Players - Market Cap Comparison

8. Company Profiles
8.1 TRUMPF GmbH + Co. KG
8.1.1 Business Overview
8.1.2 Financial Overview
8.1.3 Business Strategies
8.2 DMG Mori Seiki Co. Ltd.
8.3 Amada Co. Ltd.
8.4 JTEKT Corporation
8.5 Okuma Corporation
8.6 The Buhler Group

For more information about this report visit https://www.researchandmarkets.com/r/xgmf5m

Research and Markets also offers Custom Research services providing focused, comprehensive and tailored research.

CONTACT: CONTACT: ResearchAndMarkets.com Laura Wood, Senior Press Manager press@researchandmarkets.com For E.S.T Office Hours Call 1-917-300-0470 For U.S./CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900