Asia Pacific Machine Tools Market Size, Share & Industry Trends Analysis Report By Type, By Technology, By Sales Channel, By End-use, By Country and Growth Forecast, 2021-2027

The Asia Pacific Machine Tools Market is expected to witness market growth of 4.6% CAGR during the forecast period (2021 2027).

Digital advancements and a high level of connectivity are desirable characteristics for improving factory automation. Machine performance and total equipment effectiveness can be improved by integrating sensors, using artificial intelligence (AI), and integrating complex simulation elements. In the machine tool sector, new sensors and new ways of communicating, controlling, and monitoring provide new potential for new business models and smart services. Each OEM's portfolio is about to include digitally improved offerings. The focus of a company's unique selling proposition (USP) is increasingly on digital added value.

Any stationary power-driven equipment used to shape or create pieces made of metal or other materials is referred to as a machine tool. Shapes can be achieved in four ways: cutting extra material from the component in the form of chips; shearing the material; squeezing metallic parts to the required shape; and applying electricity, ultrasonic, or corrosive chemicals to the material. The fourth category includes modern machine tools and technologies for machining ultra-hard metals that are difficult to machine using traditional methods
Most of the main machine tool makers are based in the region, which is expected to command the regional industry. China is one of the largest users of machine tools in the Asia Pacific, driving the market forward. In the Asia Pacific area, the automobile industry, oil and gas, and railways have all seen significant expansion and investment. This region is home to significant manufacturers like Yamazaki Mazak Corporation, DMG Mori, and OKUMA Corporation.

China's demand is expected to rise, boosted by strong expansion in the manufacturing sector, particularly in the precision engineering, transportation equipment, and industrial machinery industries. In addition, the market is likely to benefit from a further shift toward higher-value goods like CNC machines, machining centers, and multi-functional machines.

The China market dominated the Asia Pacific Machine Tools Market by Country 2020, and is expected to continue to be a dominant market till 2027; thereby, achieving a market value of $10,743.9 million by 2027. The Japan market is poised to grow at a CAGR of 3.9% during (2021 - 2027). Additionally, The India market is expected to display a CAGR of 5.2% during (2021 - 2027).

Based on Type, the market is segmented into Lathe Machines, Milling Machines, Laser Machines, Grinding Machines, Welding Machines, Winding Machines, and Others. Based on Technology, the market is segmented into Computer Numerical Control (CNC) and Conventional. Based on Sales Channel, the market is segmented into Direct and Indirect. Based on End-use, the market is segmented into Automotive, Aerospace & Defense, Construction Equipment, Power & Energy, Industrial and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.

The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Hyundai Wia Corporation (Hyundai Motor Company), Schuler Group GmbH, CHIRON Group, JTEKT Corporation, AMADA CO., LTD., Okuma Corporation, DMG Mori Co. Ltd., Komatsu Ltd., Georg Fischer Ltd., and Makino Milling Machine Co., Ltd.

Scope of the Study

Market Segments Covered in the Report:

By Type

• Lathe Machines
• Milling Machines
• Laser Machines
• Grinding Machines
• Welding Machines
• Winding Machines
• Others

By Technology

• Computer Numerical Control (CNC)
• Conventional

By Sales Channel

• Direct
• Indirect

By End-use

• Automotive
• Aerospace & Defense
• Construction Equipment
• Power & Energy
• Industrial
• Others

By Country

• China
• Japan
• India
• South Korea
• Singapore
• Malaysia
• Rest of Asia Pacific

Key Market Players

List of Companies Profiled in the Report:

• Hyundai Wia Corporation (Hyundai Motor Company)
• Schuler Group GmbH
• CHIRON Group
• JTEKT Corporation
• AMADA CO., LTD.
• Okuma Corporation
• DMG Mori Co. Ltd.
• Komatsu Ltd.
• Georg Fischer Ltd.
• Makino Milling Machine Co., Ltd

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