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Metalworking Machinery Global Market Report 2022
Major companies in the metalworking machinery market include Sandvik AB, Berkshire Hathaway Inc, TRUMPF Group, Mitsubishi Heavy Industries Ltd, Amada Co. Ltd, Toyota Tsusho, Colfax Corporation, Fanuc Corp, Okuma Corporation, and Taiyo Nippon Sanso Corporation.
New York, June 01, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Metalworking Machinery Global Market Report 2022" - https://www.reportlinker.com/p06282440/?utm_source=GNW
The global metalworking machinery market is expected to grow from $230.48 billion in 2021 to $254.79 billion in 2022 at a compound annual growth rate (CAGR) of 10.6%. The market is expected to grow to $364.92 billion in 2026 at a compound annual growth rate (CAGR) of 9.4%.
The metal working machinery market consists of sales of metalworking machinery by entities (organizations, sole traders, and partnerships) that produce metal working machinery.
The main types of metalworking machinery are special die and tool, die set, jig, and fixture, machine tool, industrial mold, rolling mill, and other metalworking machinery, and cutting tool and machine tool accessory.Industrial mold refers to the molding or shaping of a liquid or raw material.
The various cAsia Pacificity includes small, medium, and large. These are used in automotive, manufacturing, and other applications.
The Asia Pacific was the largest region in the metalworking machinery market in 2021.Western Europe was the second largest region in the metalworking machinery market.
The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The metalworking machinery manufacturing market growth is aided by stable economic growth forecasted in many developed and developing countries. The International Monetary Fund (IMF) predicts that the global GDP growth will be 3.3% in 2020 and 3.4% in 2021. Recovering commodity prices, after a significant decline in the historic period is further expected to aid the market growth. Developed economies are also expected to register stable growth during the forecast period. Additionally, emerging markets are expected to continue to grow slightly faster than the developed markets in the forecast period. Stable economic growth is expected to increase investments in the end-user markets, thereby driving the market during the forecast period.
The outbreak of Coronavirus disease (COVID-19) has acted as a massive restraint on the metalworking machinery manufacturing market in 2020 as supply chains were disrupted due to trade restrictions and manufacturing activity declined due to lockdowns imposed by governments globally.COVID-19 is an infectious disease with flu-like symptoms including fever, cough, and difficulty in breathing.
The virus was first identified in 2019 in Wuhan, Hubei province of the People’s Republic of China, and spread globally including Western Europe, North America, and Asia.Machinery manufacturers depend heavily on the supply of raw materials, parts, and components from different countries across the globe.
As many governments restricted the movement of goods across countries, manufacturers had to halt production due to a lack of raw materials and components.The outbreak is expected to continue to have a negative impact on businesses throughout 2020 and into 2021.
However, it is expected that the metalworking machinery manufacturing market will recover from the shock across the forecast period as it is a ’black swan event and not related to ongoing or fundamental weaknesses in the market or the global economy.
Machinery manufacturers are offering advanced 6-axis CNC milling machines to efficiently fabricate complex components.CNC milling is a specific type of computer numerical controlled (CNC) machining.
This involves the use of computers to control machine tools like lathes, mills, routers, and grinders.The 6-axis CNC machine converts a raw metal bar into the final product by turning from both ends of the fixture.
This offers high-quality products while minimizing errors.CNC milling helps in the short-run production of complex parts and the fabrication of unique precision components.
Major companies manufacturing 6-axis CNC milling are Yamazaki Mazak, DMG MORI, ERLO, Giben International, Haas Automation, Knuth Machine Tools, IMSA.
The countries covered in the metalworking machinery market include Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela, and Vietnam.
Read the full report: https://www.reportlinker.com/p06282440/?utm_source=GNW
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