January 15, 2018
WELLESLEY, Mass., Jan. 15, 2018 –Continued economic growth, and in particular increasing investments in automobile manufacturing industries in developing nations such as India, China and Brazil, is helping to fuel the global market for machine tools manufacturing, according to a report by BCC Research.
The global market for machine tool manufacturing reached a value of $83.5 billion in 2016 and is anticipated to grow at a compound annual growth rate (CAGR) of 1.4% through 2020, when the market will total $88.2 billion, according to the report Machine Tool Manufacturing: Global Markets to 2020.
A few large players dominate the market. Leading players in the industry include Trumpf Group, Yamazaki Mazak, DMG Mori, Doosan Infracore, Fair Friend Ent., Gross-Werke, Jkekt Corporation, Makino Machine, Okuma Corporation and Schuler Group. Machine tools included in the report include lathers, boring machines, milling machines, grinding machines, planer machines and shaping machines.
“Global machine tool manufacturing market is currently in a very crucial phase of transformation,” said Gordon Nameni, Senior Editor, BCC Research. “The machine tools manufacturing market was positively impacted by increased production and sales of vehicles across the world. The automobile and transport manufacturing industry is one of the largest consumers of machine tools, and in 2016 alone, 93,856,388 vehicles were sold worldwide, increasing by more than 14% since 2012.”
Market Restraints Include a Reduction in Free Trade and Unfavorable Investment Scenarios
The two main factors negatively impacting the market are a reduction in free trade and an unfavorable investment scenario. The departure of the United Kingdom from the European Union is likely to lead to more trade restrictions between the two entities, and U.S. President Donald Trump in his first year in office has already begun to adopt a more protectionist stance, including a possible departure from the North American Free Trade Agreement. Meanwhile, increasing interest rates and the removal of subsidies are likely to hamper the market. Globally, countries are facing inflation and currency depreciation. Established countries like the UK and Germany, which had supported the development of renewable energy such as wind farms and solar though the use of subsidies, are beginning to reduce or remove those subsidies—and a decrease in the flow of cheap money will make it harder and more expensive for companies to make large capital investments.
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Machine Tool Manufacturing: Global Markets to 2020( MFG039A )
Publish Date: Dec 2017
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