Machine Tools: A Global Strategic Business Report
San Jose, CA (PRWEB) March 11, 2008
World market for Machine Tools is forecast to maintain an impressive CAGR of 7.20% over the years 2001-2010 and reach in excess of US$68.8 billion by the end of the decade. With an estimated 2007 share of 58.53 Metal Cutting Tools form the largest segment in the global Machine Tools market. The segment is also forecast to register the fastest CAGR of 7.60% over the years 2001-2010.
In terms of end use industry, Automobiles account for the lion's share of the global machine tool consumption, with a share estimated at 42.78% in 2007. Fastest growth, however, is expected from the Electronics/Electrical Machinery & Equipment Applications for Machine Tools that are expected to exhibit a CAGR of nearly 9% over 2001-2010.
The early part of the new millennium witnessed lethargy in business conditions, especially in the United States. Today, sedate demand patterns in the developed markets are being partially offset by sturdy gains in Asian economies and by the growing demand for machine tools. Rising production costs, and fierce competition from Asian imports, is leading manufacturers to shift production bases to low cost Asian countries, primarily China, in order to achieve price advantages. Significant growth opportunities lie in store for foreign players in most of the Asian markets.
Global market for machine tools has been experiencing a moderate growth over the last few years. Japan continues to be the largest manufacturer of machine tools with over 22% of the total global production, followed by Germany, China, and Italy. China is the largest consumer of machine tools constituting more than 20% of total machine tools consumption, followed by Japan, and the US. Strong demand from China and growing consumption across the Asian economies propped the volume and value sales of machine tools. However, the world market for machine tools is characterized by its extreme sensitivity to economic conditions. Propitious results are on the cards in the markets of Eastern European countries due to the requirement of modernization as well as the rapid increase in the capital required for making investments. Turkey as well as Latin American countries, including Brazil, are expected to register sizable growth above the global average in the worldwide machine tools market. Consumption of machine tools in the US gained a healthy 5% in 2006, retaining its position in the top three consumers of machine tools. However, the country is losing on the production front, due to impressive gains registered by South Korean and Taiwanese markets.
Major companies covered include Agie Charmilles Management Ltd, Allied Machine & Engineering Corp, Amada Group of Companies, Cincinnati Automation & Test, Doosan Infracore Co. Ltd, FANUC Ltd, Giddings & Lewis Machine Tools LLC, Gildemeister Aktiengesellschaft, Hardinge Inc, Kennametal Inc, Makino Milling Machine Co. Ltd, Mori Seiki Company, Ltd, Okuma Corporation, Otto Bihler Maschinenfabrik GmbH & Co. KG, Shanghai Machine Tool Works, Sodick, Inc, Spinner Werkzeugmaschinenfabrik GmbH, TAJMAC - ZPS, a. s., Trumpf GmbH + Co. KG, Walter AG and Yamazaki Mazak Corporation.
"Machine Tools: A Global Strategic Business Report", published by Global Industry Analysts, Inc., provides a comprehensive review of market trends, recent developments, mergers, acquisitions, profiles of major players and other strategic industry activities. Analysis is presented for major geographic markets such as US, Canada, Japan, France, Germany, Italy, the UK, Spain, Russia, Asia-Pacific, Middle East/Africa, and Latin America. Analytics for the period 1991 through 2015 are provided in terms of Product Segments including Metal Cutting Tools (Boring & Drilling Machines; Gear Cutting Machines; Grinding, Honing, Lapping, Polishing, and Buffing Machines; Lathes; Milling Machines; Machining Centers; Station Type Machines; and Miscellaneous Tools), Metal Forming Tools (Punching & Shearing Machines; Bending & Forming Machines; Metal Working Presses; and Miscellaneous Tools), and Special Machine Tools (Water Jet Machines; Laser Machines; Electro Chemical Machines; Electrical Discharge Machines; and Coordinate Measuring Machines). The report also covers analytics by End-Use industries including Automobiles, Aerospace/Defense, Non-Electric Machinery & Equipment, Electronics/Electrical Machinery & Equipment, and Other Applications.
For more details about this research report, please visit http://www.strategyr.com/Machine_Tools_Market_Report.asp.
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a reputed publisher of off-the-shelf market research. Founded in 1987, the company is globally recognized as one of the world's largest market research publishers. The company employs over 700 people worldwide and publishes more than 880 full-scale research reports each year. Additionally, the company also offers a range of over 60,000 smaller research products including company reports, market trend reports, and industry reports encompassing all major industries worldwide.
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