Global Machine Tools Market worth $98.3 billion in by 2027

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MarketsandMarkets Presents

Global Machine Tools Market worth 98.3 billion
in by 2027
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achine-tools-market-168345068.html
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The report "Global Machine Tools Market by
product type (Milling Machines, Drilling
Machines, Turning Machines, Grinding Machines,
Electrical Discharge Machines), Automation Type,
Industry Segment, Sales Channel, and Region
Global Forecast to 2027" The machine tools market
is estimated to be USD 77.0 billion in 2019 and
is projected to reach USD 98.3 billion by 2027,
at a CAGR of 3.2. The overall machine tools
market is highly governed by the continually
rising industrial manufacturing and processing
sector worldwide. Asia Pacific is estimated to
remain a frontrunner in the market during the
forecast period. Several technological
advancements have been introduced by the machine
tools manufacturers in Europe and North America
due to the demand for highly sophisticated
products and components from the end users from
those regions. The overall machine tool industry
is quite fragmented with international and
domestic players in the market.  Browse 44
market data Tables and 46 Figures spread
through 135 Pages and in-depth TOC on "Global
Machine Tools Market Get The PDF Brochure For
This Report _at_ https//www.marketsandmarkets.com/pd
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Electrical Discharge Machine is the fastest
growing product type EDM is an important process
in metal fabrication. Cutting of metals with
precision and accuracy to the exact dimensions
has been a driver for the acceptance of the EDM
machines in the industrial sector across the
globe. Advancement in the EDM machines has been
possible due to continuous RD efforts by major
machine tools manufacturers. China is the leader
in the introduction of EDM machines and is
expected to surpass the North American and Rest
of Asia markets taken together. In Europe, the
maximum demand for EDM machines is mainly
observed in Germany and Italy. Direct sales is
expected to be the fastest growing sales channel
for the machine tool industry Direct sales is
selling directly to the consumers without any
intervention of external parties. This is
achieved via personal arrangements, in-person
demos, and direct online sales. This helps in
gaining direct feedback from the customer
regarding the product or service and can be
handled quickly. There is no requirement for
sharing the revenues with a channel partner or
reseller. The sales process, pricing, and all the
components of the process can be controlled
directly by the manufacturers. Request for
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Asia Pacific is the largest market for the
machine tool industry, followed by
Europe Chinese economy growth is stable and the
interest in spending money to develop high
quality products and components is rising and
will continue till the next decade. There has
been growth in the manufacturing industry, and
investments by major manufacturers in developing
countries like India and China have increased.
Other Asian countries such as Japan, Korea, and
India are showcasing promising growth for the
years 20172018, which is expected to continue
until 2027. The Asian market is the hub for the
European and North American machine tool
manufacturers. Automotive and Transportation
industry is expected to lead the market in terms
of machine tool consumption Primary industry
users like automotive, aerospace and defense,
railways, capital goods, and consumer durable
sectors have a high demand for machine tools. The
automotive industry is adopting the integration
of technologies such as AI, IOT, robotics, etc.,
which will serve the demands of the end users.
Major efforts are made to upgrade engine
technologies to meet the fuel efficiency mandates
and NCAP rating globally. This will further add
to the re-tooling of the existing machining
solutions. Request for Sample Pages _at_
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CNC machine tools are expected to dominate the
market globally CNC machines segment holds the
major market share of the machine tool market and
is expected to grow further in the future due to
the increasing demand from the manufacturing
companies for productivity improvements and
product innovation. Growth in the manufacturing
sector has led to a rapid increase in demand
specifically for the increasingly sophisticated
CNC machines. Automation of machine tools leads
to enhanced productivity, time saving, and
elimination of human errors. The new age CAD/CAM
CNC machines are compact in size are equipped
with automatic tool changers along with multi
axis machining technology and can carry out the
entire machining process using a single
machine. The machine tools market is dominated
by Doosan Machine Tools Co. Ltd (Japan), AMADA
Pvt. Ltd. (Japan), Makino (Japan), JTKET
Corporation (Japan), Georg Fischer Ltd.
(Switzerland), Komatsu NTC Ltd. (Japan), OKUMA
Corporation (Japan), Hyundai WIA (South Korea),
Schuler AG (Germany), Chiron Group SE (Germany),
MAG IAS GmbH (Germany), GROB-WERKE GmbH Co. KG
(Germany), Haas Automation Inc. (USA), Gleason
Corporation (USA), Spinner Machine Tools
(Germany), Dalian Machine Tools Group Corporation
(China), Yamazaki Mazak Corporation (Japan), DMG
MORI (Germany), Electronica Hitech Engineering
Pvt. Ltd. (India), Ace Micromatic Group
(India). To speak to our analyst for a
discussion on the above findings, click Speak to
Analyst
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