Machine Tools: A Global Strategic Business Report
San Jose, California (PRWEB) October 12, 2011
Follow us on LinkedIn - As a key enabler of industrial revolution and as indispensable tools designed to mold, cut, shape, and fabricate almost all products under the sun, machine tools wield a major impact on productivity in the manufacturing industry. Machine tool industry will experience a steady demand so long as there is demand for manufactured durable goods such as automobiles, computers, and construction equipment, among others. World machine tools industry is sensitive to changes in the economic and financial climate. Demand responses to economic ups and downs are typically amplified in this industry highlighting the level of sensitivity to the broader economy. Changes in production capacity utilization, capacity expansions, and the level of business confidence strongly influence demand in the marketplace.
The machine tools industry confronted its toughest challenge ever by the financial crisis induced world economic recession in the years 2008 & 2009. Machine tools being capital goods came under the yoke of the recession with freezing of capital expenditure in the manufacturing and industrial sectors negatively impacting sales. Slowing levels of economic activity, complete collapse of global production & trade, fall in industrial production, commercial activity, plant closures, capacity idling, scaling back of operating capacity, and the resultant sputtering investments in industrial production resulted in broad based declines in machine tools market. The extreme sensitivity of the machine tools industry to the economic downturn can be traced to its heavy dependence upon end-use industries, such as, manufacturing, automobile and housing.
After a temporary period of lull, the world market for machine tools staged a remarkable recovery in the year 2010, as mirrored by the growth in annual value sales. Improvement in capital spending across key end-use industries, thanks to a strong resurgence in growth fundamentals such as increased demand for end products, subsequent rise in production needs and improved manufacturer confidence, especially has revived market prospects for machine tools in the year 2010. The sheer diversity of its application areas, ranging from aerospace and automobile manufacturing to electronics, non-electric machinery & equipment, wind power generation, process, mining and oil exploration too ensured that machine tools market staged a quick recovery. Increase in automotive and electronic equipment production in response to growing demand for new automobiles and electronics respectively, in particular had a positive impact on the demand for machine tools over the last few years. As manufacturers continue to re-directed their focus and efforts on achieving global competitiveness by increasing production capacities and productivity, machine tools market will witness tremendous gains.
As stated by the new market research report, Europe and Asia-Pacific accounts for a lion’s share of the global Machine Tools market. Recovery in the machine tools market was largely led by emerging markets such as China and India. China in particular, displays tremendous appetite for new machine tools, given the robust development in its industrial sector. North American machine tools market too showed signs of gradual strengthening, with production and demand increasing considerably. By segment, Metal Cutting Tools is the largest contributor to revenues. Growth in the metal cutting tools market over the next few years will be primarily driven by resurgence in key end use markets in developed markets such as the US and Europe and robust demand from developing nations. Global market revenues for Special Machine Tools are expected to surge at a CAGR of 13.7% over the analysis period.
Major players in the global marketplace include GF AgieCharmilles, Allied Machine & Engineering Corp, Amada Group of Companies, Doosan Infracore Co. Ltd., FANUC Corporation, MAG, Gildemeister Aktiengesellschaft, Haas Automation Inc., Hardinge Inc, JTEKT Corporation Kennametal Inc, Makino Milling Machine Co. Ltd., Mori Seiki Co. Ltd, Okuma Corporation, Otto Bihler Maschinenfabrik GmbH & Co. KG, Shanghai Machine Tool Works Co. Ltd, Schuler AG Sodick Inc, Spinner Werkzeugmaschinenfabrik GmbH, TAJMAC-ZPS, a.s., Trumpf Group, Walter AG, and Yamazaki Mazak Corporation, among others.
The research report titled “Machine Tools: A Global Strategic Business Report” announced by Global Industry Analysts, Inc., provides a comprehensive review of market trends, issues, drivers, company profiles, mergers, acquisitions and other strategic industry activities. The report provides market estimates and projections (US$ Million) for major geographic markets including the United States, Canada, Japan, Europe, Asia-Pacific, Middle East/Africa and Latin America. Product segments analyzed include Metal Cutting Tools (Boring & Drilling Machines, Gear Cutting Machines, Grinding, Honing, Lapping, Polishing & Buffing Machines, Lathes, Milling Machines, Machining Centers, Station Type Machines and Miscellaneous Metal Cutting Tools), Metal Forming Tools (Punching & Shearing Machines, Bending & Forming Machines, Metal Working Presses and Miscellaneous Metal Forming Tools) and Special Machine Tools (Water Jet Machines, Laser Machines, Electrochemical Machines and Coordinate Measuring Machines).
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About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes more than 1300 full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world's largest and reputed market research firms.
Global Industry Analysts, Inc.
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