Machine Tool Market Projects Asia-Pacific to Continue Its Domination Till the End of Forecast Period

Published By: IndustryARC Published On : 02-Feb-2018

The Machine Tool Market engages in developing, manufacturing and marketing the tools that are used for shaping or machining metal usually by cutting, boring, grinding, shearing. Machine tools are power-driven industrial devices such as lathe, miller, or grinder.

Machine tools employ some sort of tool that does the cutting or shaping. Based on the product type, the machine tools are segmented into metal cutting tools, metal forming tools and special machine tools. Generally, these are used in various end-user industries such as automotive, aerospace, primary & fabricated metals, electrical & electronic equipment and others.

The rising demand for drilling machines & earth movers, due to increasing mining activity and increase in production of heavy manufacturing/industrial machinery results in a rise in demand for machine tools. This factor drives healthy growth for the Machine Tool Market. Also, the market is expected to be driven by growth in global fabricated metal products market. Furthermore, technological innovation has led to the development of advanced milling machines that advances the machine tool industry.

The growing demand for automated manufacturing in the industrial sector resulted in the increasing uptake of CNC machine tools. Asia-Pacific is dominating the Machine Tool Market and is also projected to register the fast growth, during the forecast period. Government initiatives in the countries such as India and China like SEZs, subsidies, and tax exemption to manufacturers also enhance market growth in this region. North America is registering second highest growth, followed by Europe and Rest of the World.

Browse Related Reports:

About IndustryARC:

IndustryARC is a research and consulting firm that publishes more than 500 reports annually in various industries, such as Agriculture, Automotive, Automation & Instrumentation, Chemicals and Materials, Energy and Power, Electronics, Food & Beverages, Information Technology, Life sciences & Healthcare.

IndustryARC primarily focuses on Cutting Edge Technologies and Newer Applications of the Market. Our Custom Research Services are designed to provide insights on the constant flux in the global demand-supply gap of markets. Our strong analyst team enables us to meet the client research needs at a very quick speed with a variety of options for your business.

We look forward to support the client to be able to better address customer needs; stay ahead in the market; become the top competitor and get real-time recommendations on business strategies and deals. Contact us to find out how we can help you today.

Contact Us:

Mr. Venkateshwar Reddy
Business Development Manager 
Contact Sales: 1-614-588-8538 (Ext-101)
Connect with us on LinkedIn -