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Machine Tools - Global Market Trajectory & Analytics

  • ID: 338762
  • Report
  • April 2021
  • Region: Global
  • 782 Pages
  • Global Industry Analysts, Inc
The worst affected industry in this pandemic driven crisis is manufacturing with its complex supply chains, labor intensive processes, and interdependencies. Division of labor, modular manufacturing strategies, outsourcing to reduce costs and increase the efficiency, consistency, and quality of each operations, have made the manufacturing sector most vulnerable amid the lockdown restrictions. A revised outlook pegs the global market for machine tools at US$87.4 billion by 2027. An indication of the grim state of affairs is the fact that global manufacturing PMI is already declining and will fall to an estimated all-time low of 35.4 points in 2020 as compared to 53.8 in 2019. This indicates severe contraction of manufacturing activity including new orders, production, employment, supplier deliveries, inventories, customers' inventories, commodity prices, order backlog, new export orders, and imports. Business investment confidence is tumbling amidst poor demand, falling profits, liquidity crunch and a reeling global economy. The great lockdown of 2020 has crushed the global economy and with it the manufacturing sector. The COVID-19 pandemic will have lasting long-term economic, social and political impact. As death tolls continue to rise worldwide with the infections showing no signs of slowing down, a major change in priorities is underway as governments struggle amid the crisis to strengthen their healthcare systems. The pandemic has laid bare the unpreparedness of health systems in countries worldwide. To curb the pandemic, governments have and continue to impose strict lockdowns and ban on all non-essential business operations, thus bringing all economic activity to a virtual halt. SMB manufacturers will be worst affected with over 50% of SMEs voicing uncertainty over their companies' ability to survive the corona virus-related shutdown.

As businesses struggle to keep afloat, job cuts and bankruptcies are expected to rise sending millions into unemployment. Unemployment rates are climbing to worrisome levels in both developed and developing economies alike. In the US alone, over 5. 2 million people have filed for unemployment claims over the last 1 month. The economic anxiety among consumers has and continues to rise. Consumers have shifted to online and are spending much lesser than before the pandemic. Social outlook against this background remains grim with households expected witness erosion in wealth. Personal financial outlook, community, economy, job security confidence, purchasing and investment confidence are all tumbling as the human and economic cost of the global pandemic rises. The loss in consumer confidence and erosion of household wealth and discretionary spending will impact virtually every industry and business worldwide. Global merchandize trade is expected to plummet by15% to 30% in the year 2020highlighting the magnitude of disruption. Against this backdrop, it requires very little speculation to measure the impact on manufacturing. In the United States alone over 80% of manufacturers are bracing for losses. The impact will mean crunch on capital resources; workforce layoffs/reduction and loss in productivity; supply chain disruptions; difficulties with funding; and increase in cyber security risks and fraud. Unlike IT services where work is being carried out remotely via internet and cloud platforms, for the manufacturing industry, plant activities and production cannot be carried remotely and therefore remains worst affected. The slower economic activity means reduced demand for industrial and consumer goods and lower manufacturing orders.

Select Competitors (Total 412 Featured):
  • Ace Micromatic Group
  • Allied Machine & Engineering Corporation
  • Amada Co, Ltd.
  • Amada Machine Tools America, Inc.
  • Chiron Group SE
  • Dalian Machine Tool Group Corporation
  • DMG Mori Co., Ltd.
  • Doosan Machine Tools Co. Ltd.
  • Electronica Hitech Engineering Pvt. Ltd.
  • FANUC Corporation
  • FANUC America Corporation
  • GF Machining Solutions Management SA
  • Gleason Corporation
  • GROB-WERKE GmbH & Co. KG
  • Hardinge, Inc.
  • Jones & Shipman Hardinge Ltd.
  • Haas Automation, Inc.
  • Hyundai WIA Co. Ltd.
  • JTEKT Corporation
  • Kennametal Inc.
  • Komatsu Ltd.
  • Makino Milling Machine Co. Ltd.
  • Okuma Corporation
  • Otto Bihler Maschinenfabrik GmbH & Co. KG
  • Sandvik AB
  • Sandvik Coromant
  • Schuler AG
  • Shanghai Machine Tool Works Ltd.
  • Shape Technologies Group
  • Sodick
  • Spinner Machine Tools GmbH
  • TAJMAC-ZPS, a.s.
  • Trumpf Group
  • Walter AG
  • Yamazaki Mazak Corporation
Note: Product cover images may vary from those shown
I. METHODOLOGY

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW
  • Influencer Market Insights
  • World Market Trajectories
  • COVID-19 Outbreak Poised to Dent Market Prospects in the Immediate Term
  • An Introduction to Machine Tools
  • Key Product Segments
  • Segmentation by Machine Price & Precision
  • Key End Use Sectors
  • Machine Tools: Market Fortunes Closely Linked to Manufacturing Sector & Economic Environment
  • Recent Market Activity
  • The “Great Lockdown” of 2020 Crushes the Global Economy
  • Exhibit 1: World GDP Growth Rates in % for the Years 2019 and 2020 by Country/Region
  • Exhibit 2: Global Purchasing Managers' Index (PMI) Points for the Years 2018 through 2020
  • What Does This Means for Manufacturing?
  • Despite Discouraging Short-Term Outlook, Long-Term Growth Prospects Remain Optimistic
  • Exhibit 3: Global Machine Tools Market (2019E): Percentage Breakdown of Dollar Production by Country
  • Industry 4.0 and its Impact on Machine Tools Industry
  • A Review of Market Performance over the Past Decade and a Half
  • Competitive Scenario
  • Machine Tools: A Fragmented Marketplace
  • Vendors Emphasize Product Innovations & Enhancements to Maintain Competitive Edge
  • Service & Support Emerge as Prime Focus Areas
  • Product Pricing Continues to be Key Business Strategy
  • Vendors Reinforce Distribution Channels
2. FOCUS ON SELECT PLAYERS

3. MARKET TRENDS & DRIVERS
  • Reshoring Drives Growth Prospects in Developed Markets
  • Rapid Mushrooming of Job Shops in Developing Countries Poised to Benefit Machine Tools
  • Automotive Production in Developing Countries Augurs Well for Machine Tools
  • Exhibit 4: World Automobile Production in Million Units: 2008-2022
  • Switch to Electric Vehicles (EVs) May Affect Demand of Machine Tools
  • Exhibit 5: Global EV Sales (In Million Units) for the Years 2019, 2025 & 2030
  • Aerospace Industry: COVID-19 Plays Spoilsport to Airlines Market Affecting the Machine Tool Industry
  • Exhibit 6: Global Fleet of Commercial Aircraft (2017 & 2036) by Region (in Units)
  • Emphasis on Specialized Aerospace Materials to Spur Demand for Sophisticated Machine Tools
  • Projected Long-Term Growth in the Semiconductor Industry to Drive Future Demand
  • Heavy Equipment/Machinery Manufacturing Industry Promises Bright Prospects
  • Developments in Renewable Energy Help Spur Market Opportunities
  • Exhibit 7: Global Energy Generation Mix (in %) for 2018 and 2050
  • Technology Refinements Boost Demand for Numerical Control (NC) Machine Tools
  • Advent of 3D-Printing Machines: Marks the Emergence of Next Generation Machine Tools
  • Steady Growth Anticipated for Multitasking Machine Tools
  • Smart Machines Grow in Popularity
  • Adoption of Predictive Analytics Drives Market Growth
  • Wide-ranging Benefits Fueling Demand for CNC Machine Tools
  • CNC Machines Finds Application in Wide Spectrum of Application Areas
  • CNC Machines Help Improve Performance and Productivity
  • Retrofit Market Keeps CNC Machinery Sales Alive
  • Robotic-Assisted Technology and Automation Spurs Growth
  • Trends Across Major Product Markets
  • Metal Cutting Tools Market: An Overview
  • Steady Growth Predicted for Metal Cutting Machines Market over the Long Term
  • Surging Automation in End-Use Industries Drive Growth in the Global Lathe Machines Market
  • Carbide Tools: Most Sought After
  • High Speed Steel Cutting Tools: Hopes Pinned onto Powder Metallurgical HSS to Spearhead Growth
  • Rising Popularity of Carbon Fiber-Reinforced Polymers Bodes Well for Advanced Cutting Tools
  • Innovative Pricing Strategies: Need of the Hour for Cutting Tool Vendors
  • Grinding Machines Market: An Overview
  • Strong Opportunities in Orthopedic Implant Manufacturing over the Long Term
  • Advanced Grinding Techniques Spearhead Growth
  • Shortage of Skilled Labor Drives Automation Trends in Grinding Machinery
  • Digitalization and the Future of Machining
  • Metal Forming Machine Tools: An Overview
  • Laser Cutting Machines Market: An Overview
  • Asia-Pacific to Drive Market for Laser Cutting Machine Tools
  • Ultrashort Pulsed Laser Technology Gains Popularity
  • Fiber Laser Technology Gains Prominence at the Expense of CO2 Laser Technology
  • Adoption of Nanosecond Pulsed Fiber Lasers Poised to Grow Rapidly
  • Waterjet Cutting Machines Market: An Overview
  • Advanced Machines to Drive Growth in Waterjet Cutting Machinery Market
  • Expanding Applications to Spur Long Term Growth in the Market
  • Excellence in Technology: Critical to Future Evolution of Machine Tools Industry
  • Technology Innovation: Key to Growth in the Market
  • Connected, Automated Machines Facilitate Machine Tool Innovations
  • Innovations that Changed Production Processes
  • Technology Trends Shaping the Future of Manufacturing Sector
  • Modern Safety Innovations in Machine Tools
  • Select Latest Innovations
  • Brief Note on Distribution and Sales Channels
4. GLOBAL MARKET PERSPECTIVE

III. MARKET ANALYSIS
  • UNITED STATES
  • Machine Tools Market in the US: An Overview
  • Amidst COVID-19 Crisis, Manufacturing Activities Come to a Halt
  • Machine Tools Vital for Defense Manufacturing Activities
  • Cutting Tools Market: Overview
  • CANADA
  • Machine Tools Industry: An Overview
  • Aerospace Industry Vital for Canadian Machine Tools Market
  • Distribution Channels
  • JAPAN
  • Japan: A Major Machine Tools Market
  • A Key Import Market for High Performance Machines
  • Market Structure
  • CHINA
  • China’s Machine Tools Exhibits Downward Trend
  • Exhibit 8: Manufacturing Industry Output Value Growth (%) in China for the Years 2019 through 2024
  • End-Use Industry Dynamics to Determine Machine Tools Demand Trends in China
  • China’s Prominence as World’s Manufacturing Hub Contributes to Leadership
  • Automotive Industry Trends Set the Tone for Machine Tools Market
  • Chinese Military Modernization Augurs Well for Machine Tool Industry
  • Market Structure
  • Exhibit 9: Chinese Machine Tools Market: Percentage Breakdown of Sales Revenue by Tool Makers for 2019
  • Exhibit 10: Chinese Machine Tools Market: Percentage Share Breakdown of Ownership by Tool Makers for 2019
  • Challenges Ahead
  • EUROPE
  • European Machine Tools Industry: An Overview
  • HSK Tooling Standard
  • Applications of HSK Technology
  • FRANCE
  • GERMANY
  • ITALY
  • UNITED KINGDOM
  • SPAIN
  • RUSSIA
  • REST OF EUROPE
  • ASIA-PACIFIC
  • INDIA
  • Machine Tools Market in India: An Overview
  • Factors Affecting the Industry
  • Increased Adoption of CNC-based Tools and Make-in-India Initiative: Long Term Growth Opportunities
  • Indigenization of Defense Systems Boosts Prospects for Machine Tools Market
  • Indian Machine Tools Industry Preps Up to Support Exports Demand
  • Outsourcing Market Posts Gains
  • Industry Structure
  • Exhibit 11: Indian Machine Tools Market: Percentage Share Breakdown of Value Production by Region for 2019
  • SOUTH KOREA
  • TAIWAN
  • REST OF ASIA-PACIFIC
  • LATIN AMERICA
  • ARGENTINA
  • BRAZIL
  • MEXICO
  • REST OF LATIN AMERICA
  • MIDDLE EAST
  • AFRICA
IV. COMPETITION
  • Total Companies Profiled: 412
Note: Product cover images may vary from those shown
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