Dublin, June 28, 2021 (GLOBE NEWSWIRE) -- The "Machine Tools - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
A revised outlook pegs the global market for machine tools at US$87.4 billion by 2027.
The worst affected industry in this pandemic driven crisis is manufacturing with its complex supply chains, labor intensive processes, and interdependencies. Division of labor, modular manufacturing strategies, outsourcing to reduce costs and increase the efficiency, consistency, and quality of each operations, have made the manufacturing sector most vulnerable amid the lockdown restrictions.
An indication of the grim state of affairs is the fact that global manufacturing PMI is already declining and will fall to an estimated all-time low of 35.4 points in 2020 as compared to 53.8 in 2019. This indicates severe contraction of manufacturing activity including new orders, production, employment, supplier deliveries, inventories, customers' inventories, commodity prices, order backlog, new export orders, and imports. Business investment confidence is tumbling amidst poor demand, falling profits, liquidity crunch and a reeling global economy.
The great lockdown of 2020 has crushed the global economy and with it the manufacturing sector. The COVID-19 pandemic will have lasting long-term economic, social and political impact. As death tolls continue to rise worldwide with the infections showing no signs of slowing down, a major change in priorities is underway as governments struggle amid the crisis to strengthen their healthcare systems.
The loss in consumer confidence and erosion of household wealth and discretionary spending will impact virtually every industry and business worldwide. Global merchandize trade is expected to plummet by15% to 30% in the year 2020highlighting the magnitude of disruption.
Against this backdrop, it requires very little speculation to measure the impact on manufacturing. In the United States alone over 80% of manufacturers are bracing for losses. The impact will mean crunch on capital resources; workforce layoffs/reduction and loss in productivity; supply chain disruptions; difficulties with funding; and increase in cyber security risks and fraud.
Unlike IT services where work is being carried out remotely via internet and cloud platforms, for the manufacturing industry, plant activities and production cannot be carried remotely and therefore remains worst affected. The slower economic activity means reduced demand for industrial and consumer goods and lower manufacturing orders.
Select Competitors (Total 412 Featured):
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 America Corporation
GF Machining Solutions Management SA
GROB-WERKE GmbH & Co. KG
Jones & Shipman Hardinge Ltd.
Haas Automation, Inc.
Hyundai WIA Co. Ltd.
Makino Milling Machine Co. Ltd.
Otto Bihler Maschinenfabrik GmbH & Co. KG
Shanghai Machine Tool Works Ltd.
Shape Technologies Group
Spinner Machine Tools GmbH
Yamazaki Mazak Corporation
Key Topics Covered:
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
Influencer Market Insights
World Market Trajectories
COVID-19 Outbreak Poised to Dent Market Prospects in the Immediate Term
An Introduction to Machine Tools
Key Product Segments
Segmentation by Machine Price & Precision
Key End Use Sectors
Machine Tools: Market Fortunes Closely Linked to Manufacturing Sector & Economic Environment
Recent Market Activity
The "Great Lockdown" of 2020 Crushes the Global Economy
What Does This Means for Manufacturing?
Despite Discouraging Short-Term Outlook, Long-Term Growth Prospects Remain Optimistic
Industry 4.0 and its Impact on Machine Tools Industry
A Review of Market Performance over the Past Decade and a Half
Machine Tools: A Fragmented Marketplace
Vendors Emphasize Product Innovations & Enhancements to Maintain Competitive Edge
Service & Support Emerge as Prime Focus Areas
Product Pricing Continues to be Key Business Strategy
Vendors Reinforce Distribution Channels
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
Reshoring Drives Growth Prospects in Developed Markets
Rapid Mushrooming of Job Shops in Developing Countries Poised to Benefit Machine Tools
Automotive Production in Developing Countries Augurs Well for Machine Tools
Switch to Electric Vehicles (EVs) May Affect Demand of Machine Tools
Aerospace Industry: COVID-19 Plays Spoilsport to Airlines Market Affecting the Machine Tool Industry
Emphasis on Specialized Aerospace Materials to Spur Demand for Sophisticated Machine Tools
Projected Long-Term Growth in the Semiconductor Industry to Drive Future Demand
Heavy Equipment/Machinery Manufacturing Industry Promises Bright Prospects
Developments in Renewable Energy Help Spur Market Opportunities
Technology Refinements Boost Demand for Numerical Control (NC) Machine Tools
Advent of 3D-Printing Machines: Marks the Emergence of Next Generation Machine Tools
Steady Growth Anticipated for Multitasking Machine Tools
Smart Machines Grow in Popularity
Adoption of Predictive Analytics Drives Market Growth
Wide-ranging Benefits Fueling Demand for CNC Machine Tools
CNC Machines Finds Application in Wide Spectrum of Application Areas
CNC Machines Help Improve Performance and Productivity
Retrofit Market Keeps CNC Machinery Sales Alive
Robotic-Assisted Technology and Automation Spurs Growth
Trends Across Major Product Markets
Metal Cutting Tools Market: An Overview
Steady Growth Predicted for Metal Cutting Machines Market over the Long Term
Surging Automation in End-Use Industries Drive Growth in the Global Lathe Machines Market
Carbide Tools: Most Sought After
High Speed Steel Cutting Tools: Hopes Pinned onto Powder Metallurgical HSS to Spearhead Growth
Rising Popularity of Carbon Fiber-Reinforced Polymers Bodes Well for Advanced Cutting Tools
Innovative Pricing Strategies: Need of the Hour for Cutting Tool Vendors
Grinding Machines Market: An Overview
Strong Opportunities in Orthopedic Implant Manufacturing over the Long Term
Advanced Grinding Techniques Spearhead Growth
Shortage of Skilled Labor Drives Automation Trends in Grinding Machinery
Digitalization and the Future of Machining
Metal Forming Machine Tools: An Overview
Laser Cutting Machines Market: An Overview
Asia-Pacific to Drive Market for Laser Cutting Machine Tools
Ultrashort Pulsed Laser Technology Gains Popularity
Fiber Laser Technology Gains Prominence at the Expense of CO2 Laser Technology
Adoption of Nanosecond Pulsed Fiber Lasers Poised to Grow Rapidly
Waterjet Cutting Machines Market: An Overview
Advanced Machines to Drive Growth in Waterjet Cutting Machinery Market
Expanding Applications to Spur Long Term Growth in the Market
Excellence in Technology: Critical to Future Evolution of Machine Tools Industry
Technology Innovation: Key to Growth in the Market
Connected, Automated Machines Facilitate Machine Tool Innovations
Innovations that Changed Production Processes
Technology Trends Shaping the Future of Manufacturing Sector
Modern Safety Innovations in Machine Tools
Select Latest Innovations
Brief Note on Distribution and Sales Channels
4. GLOBAL MARKET PERSPECTIVE
Machine Tools Market in the US: An Overview
Amidst COVID-19 Crisis, Manufacturing Activities Come to a Halt
Machine Tools Vital for Defense Manufacturing Activities
Cutting Tools Market: Overview
Machine Tools Industry: An Overview
Aerospace Industry Vital for Canadian Machine Tools Market
Japan: A Major Machine Tools Market
A Key Import Market for High Performance Machines
China's Machine Tools Exhibits Downward Trend
End-Use Industry Dynamics to Determine Machine Tools Demand Trends in China
China's Prominence as World's Manufacturing Hub Contributes to Leadership
Automotive Industry Trends Set the Tone for Machine Tools Market
Chinese Military Modernization Augurs Well for Machine Tool Industry
European Machine Tools Industry: An Overview
HSK Tooling Standard
Applications of HSK Technology
REST OF EUROPE
Machine Tools Market in India: An Overview
Factors Affecting the Industry
Increased Adoption of CNC-based Tools and Make-in-India Initiative: Long Term Growth Opportunities
Indigenization of Defense Systems Boosts Prospects for Machine Tools Market
Indian Machine Tools Industry Preps Up to Support Exports Demand
Outsourcing Market Posts Gains
REST OF ASIA-PACIFIC
REST OF LATIN AMERICA
III. MARKET ANALYSIS
Total Companies Profiled: 412
For more information about this report visit https://www.researchandmarkets.com/r/khg74g
CONTACT: CONTACT: ResearchAndMarkets.com Laura Wood, Senior Press Manager email@example.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