Global $120 Billion Machine Tools Market Outlook to 2026
August 31, 2018 | PRNewswireEstimated reading time: 1 minute
The global machine tools market is set to hit $120 billion mark by 2026. On the basis of product type, the machine tools market is led by metal cutting segment accounting for more than 60% of the total market value.
Based on industry verticals, automotive, consumer goods manufacturing and machine tool & parts manufacturing represent the most promising segments.
Further, based on geography, the market is currently led by Asia Pacific owing to factors such as huge industrial sector and large number of machine tools manufacturers. The market here is mainly backed by China and Japan. With rapidly growing industrial manufacturing sector in India and Southeast Asia, the region would also exhibit the highest growth rate during the forecast period.
The overall machine tools market is quite fragmented in nature with presence of numerous international as well as regional players. This has ensured a competitive environment for the market players. New product development is one of the most prominent strategies adopted by the major market players.
Due to consistently increasing penetration of CNC machines, most of the companies strive to develop more sophisticated automated products in order to maintain a competitive edge. In addition, expansion of distribution network is another prominent strategy adopted by the market players.
Suggested Items
KIC’s Miles Moreau to Present Profiling Basics and Best Practices at SMTA Wisconsin Chapter PCBA Profile Workshop
01/25/2024 | KICKIC, a renowned pioneer in thermal process and temperature measurement solutions for electronics manufacturing, announces that Miles Moreau, General Manager, will be a featured speaker at the SMTA Wisconsin Chapter In-Person PCBA Profile Workshop.
The Drive Toward UHDI and Substrates
09/20/2023 | I-Connect007 Editorial TeamPanasonic’s Darren Hitchcock spoke with the I-Connect007 Editorial Team on the complexities of moving toward ultra HDI manufacturing. As we learn in this conversation, the number of shifting constraints relative to traditional PCB fabrication is quite large and can sometimes conflict with each other.
Standard Of Excellence: The Products of the Future
09/19/2023 | Anaya Vardya -- Column: Standard of ExcellenceIn my last column, I discussed cutting-edge innovations in printed circuit board technology, focusing on innovative trends in ultra HDI, embedded passives and components, green PCBs, and advanced substrate materials. This month, I’m following up with the products these new PCB technologies are destined for. Why do we need all these new technologies?
Experience ViTrox's State-of-the-Art Offerings at SMTA Guadalajara 2023 Presented by Sales Channel Partner—SMTo Engineering
09/18/2023 | ViTroxViTrox, which aims to be the world’s most trusted technology company, is excited to announce that our trusted Sales Channel Partner (SCP) in Mexico, SMTo Engineering, S.A. de C.V., will be participating in SMTA Guadalajara Expo & Tech Forum. They will be exhibiting in Booth #911 from the 25th to the 26th of October 2023, at the Expo Guadalajara in Jalisco, Mexico.
Intel Unveils Industry-Leading Glass Substrates to Meet Demand for More Powerful Compute
09/18/2023 | IntelIntel announced one of the industry’s first glass substrates for next-generation advanced packaging, planned for the latter part of this decade.