A machine tool is a machine used shape or form metal or other rigid materials, usually by cutting, boring, grinding, shearing, or other machining operations. Machine tools are typically powered electrically, hydraulically, or via line shaft. Machine tools are used to manufacture components in various ways that include cutting or certain other kinds of deformation. The shaping or formation of components is accomplished by either cutting excess material, shearing the material or by squeezing metallic parts to the desired shape or a combination of these processes. Examples of machine tools include turning machines, shapers and planers, drilling machines, milling machines, grinding machines, power saws, presses, hobbing machines, lathe machines, broaching machines, gear shapers among others. The parts that are manufactured require high precision in terms of the dimensions. Modern machine tools cut or form parts to tolerances of plus or minus one ten-thousandth of an inch. Based on mode of operation, machine tools are classified into two main categories - conventional and numerically controlled machine tools. Machine tools enable the economical production of interchangeable parts in various industries.
COVID-19 scenario analysis:
- COVID-19 pandemic has shut-down the production of various products in the global toolroom machine industry, mainly owing to the prolonged lockdown in major global countries. This has hampered the growth of global toolroom machine market significantly from last few months, as is likely to continue during 2020.
- COVID-19 has already affected the sales of equipment and machinery in the first quarter of 2020 and is likely to cause a negative impact on the market growth throughout the year.
- The major demand for equipment and machinery was previously noticed from giant manufacturing countries including the U.S., Germany, Italy, the UK, and China, which is badly affected by the spread of coronavirus, thereby halting the demand for equipment and machinery.
- Further, potential impact of the lockdown is currently vague and financial recovery of companies is totally based on its cash reserves. Equipment and machinery companies can afford a full lockdown only for a few months, after which the players would have to modify their investment plans.
- Equipment and machinery manufacturers must focus on protecting their workforce, operations, and supply chains to respond toward immediate crises and find new ways of working after COVID-19 infection cases start to decrease.
Top impacting factors: Market Scenario Analysis, Trends, Drivers, Opportunities, Restraints and Impact Analysis
The increasing adoption of automation in various industries is expected to be a major factor driving the global toolroom machine (machine tools) market in the future. The constant need for innovations and improvements in manufacturing techniques, has resulted in the implementation of automated toolroom machines in various manufacturing processes. The high popularity and reliance on computer numerical control (CNC) machines for various machining operations across different industries is another key factor for the global toolroom machine (machine tools) market. The restraining factors include the high costs of toolroom machines especially CNC machines. The opportunity for growth comes from the emergence of electric vehicles in the global automotive sector and this is anticipated to boost the global market for toolroom machine (machine tools).
The global toolroom machine (machine tools) market trends are as follows:
Surge in popularity of Automation in Manufacturing industry:
Automation is increasingly being adopted to improve efficiency, cost, productivity and reduce the labour employed. Also instead of a large task force consisting of highly skilled operators, the same operation can now be done with the help of only a few highly skilled operators in the case of CNC machines. Use of automate machine tools also helps reduce human error and significantly reduce the waste generated due to the higher precision of automated processes. The programmable nature of CNC machines allow difficult jobs to be completed with relative ease and the processes can also be better standardized and less production time is wasted. Automated machine tools can be used to work on difficult to execute jobs or tasks. The time saved on these difficult tasks can be used productively as the labour can be repurposed and the overall efficiency and productivity of the manufacturing operations can increase. The rise in popularity and integration of CNC machines in various production cycles help reduce cycle times and plan the daily work flow to ensure the smooth operation of the whole production line and avoid bottlenecks. This is expected to attract more and more industry players as CNC machines can be implemented in many different applications in the global manufacturing industry including drilling, sawing, and cutting, which in turn boosts the global toolroom machine (machine tools) market growth. In addition, the continual progress made in the CNC machine design and programming by manufacturers such as the 5-axis machines, which is an improvement on the 3-axis machining technology, is expected to provide the benefits of better efficiency and aid in enhancing the demand of numerically controlled machine tools.
Growth of global automotive sector
Due to the growing population, urbanization and rising disposable incomes worldwide, the global automotive sector is expected to continue to grow and flourish. Every facet of manufacturing technique employed in the automotive industry demands high precision. Therefore, many automated machining tools and techniques are employed by automotive companies for the production of different parts such as body sheets, windscreens, door panels and various internal and external components. Automotive companies employ CNC machines for faster production of several important, precise, high performance and highly efficient parts. The cylinder of an engine is a prime example, where a large block of aluminum can be machined into an engine block inside of which the piston travels up and down at high speed and temperature. Machining defects inside an engine block can be disastrous and very dangerous. Hence automation is highly preferred for the production of such important components in the global automotive industry. Hence, with the growth of the global automotive sector, the global toolroom machine (machine tools) market is also expected to grow.
Key benefits of the report:
- This study presents the analytical depiction of the global toolroom machine (machine tools) industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global toolroom machine (machine tools) market share.
- The current market is quantitatively analyzed to highlight the global toolroom machine (machine tools) market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed global toolroom machine (machine tools) market analysis based on competitive intensity and how the competition will take shape in coming years.
Toolroom Machine (Machine Tools) Market Report Highlights
| Aspects | Details |
 By Type |
|
 By Control Type |
|
 By Application |
|
 By Industry Verticals |
|
 By Region |
|
 Key Market Players | Dalian Machine Tools Group Corporation, Doosan Machine Tools Co. Ltd., Hyundai WIA, Makino, DMG MORI, AMADA Pvt. Ltd., Gleason Corporation, Komatsu NTC Ltd., Schuler AG, Georg Fischer Ltd. |
Loading Table Of Content...
