Machine
Tool is a new machine using Computer Numerical Control (CNC) to perform a wide
range of associated tasks. It is used for shaping of machining metal or
different rigid materials, generally by cutting, grinding, boring, shearing, or
other forms of deformation. All machine tools have some means of forcing the
work piece and provide a conducted movement of the parts of the machine. This
relative movement between work piece and cutting tool, is controlled or
constrained by machine to at least some extent, rather than being exclusively
"freehand" or “offhand". It is a power driven metal cutting
machine which helps in managing the needed relative motion between the job and
cutting tool which changes the size & shape of the job material.
According
to study, “World
Machine Tools Market Research Report 2024(Covering USA, Europe, China, Japan,
SEA and India)” the key companies operating in the world machine tools
market are Shenyang Machine Tools, Dalian Maching Tool Group, Japan MAZAK,
Japan JTEKT, Japan Komatsu Ltd., Germany Gildemeister, Japan AMADA Co. Ltd,
Japan Okuma Corp., Japan MORI SEIKI, Korea HYUNDAI WIA Machine Tool, Germany
Trumpf Group, Germany Schuler AG, Japan Makino, Switzerland GF Machining
Solutions, Haas Automation, Inc., United States MAG, Germany Grob, Germany
INDEX, Korea Doosan, 600 Group, Allied Machine & Engineering, United States
Gleason, Germany Schleifring, Germany Chiron Group SE, Japan Brother, Jier
Machine Tool Group, Qiqihar No.2 Machine Tool, FANUC Corporation, Baoji NACGUBE
Tool LTD, Jinan First Machine Tool, WORLD Group, Jiangsu Yangli Group, Yamazaki
Mazak, FALCON Machine Tools, Diskus Werke AG, Jiangsu Jinfangyuan, Tianjin
Tianduan Pre, Hangzhou Hangji Machine, Shanghai Machine Tool. The key companies
are introducing automation into their industrialized processes to surge their
productivity & meet quality standards. This has led to a rise in their
profit margins & positively impacted the regulation of resources. Besides
this, vendors are also using modern design & simulation engineering software
to confirm the accuracy, sturdiness, and reliability of the machines.
Based
on product type, machine tools market is segmented into vertical machine
center, grinding machines, horizontal machine center, 5 axis machine center,
numerical control lathes and multi axis lathes. Based on automation, market is
segmented into conventional machine tools and CNC machine tools. Based on tool
type, market is segmented into metal forming, metal cutting and accessories
& spare parts. Metal forming includes bending machine, pressure machine,
shearing device, punching machine, casting machine, etc. Based on sales
channel, market is segmented into events & exhibitions, direct sales and
dealers & distributors. In addition, based on end-use industry, market is
segmented into capital goods, automotive & transportation, sheet metals and
energy industry.
The
machine tools market is driven by increase in technology innovations, followed
by rise in machinery manufacturing, growth in development of flexible machine
tools with robot-based automation features, stringent government policies,
rapid mushrooming of job shops in developing countries and expand in
applications.
Based
on geography, China, SEA and Japan holds major share in machine tools market
owing to large number of machine tools manufacturers and huge industrial
sector. The USA country is expected to witness higher growth rate due to rise
in private non-residential fixed investments over the forecast period. The
global market is projection to reach a value of US $150 billion by 2024,
registering a CAGR of nearby 6% during 2019-2024.
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Research
Ankur
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