Europe Machine Tool Market to be Dominated by Cutting Tool and is Estimated to Cross USD 30 Billion by 2023: Ken Research Analysis
Europe Machine Tools Market will be Driven by Modernization of Existing and New Manufacturing Facilities in Europe
GURUGRAM, India, Sept. 23, 2019 /PRNewswire/ -- Key Trends
- Italy is expected to register highest growth among the top three largest Machine tool markets in the Europe. It will be driven by high domestic demand and production in the economy
- Domestic production in Europe is expected to improve but will be largely driven by demand for exports within and outside Europe
- Germany may lose its position as the largest market for machine tools in Europe to Italy
Expected Market Growth and Structure: Machine tools market in Europe is expected to register decline in growth rate due to poor manufacturing scenario. Impact of Brexit and tension related to trade between the US and China is expected to die down in view of larger interest of the global economy creating a positive business environment suitable for promotion in growth of manufacturing and demand for machine tools. The market is in matured stage in majority of the western European countries which were once the manufacturing hubs of Europe.
Role of Intelligent Automation, AI and Big Data: Investment in associated sectors such as AI, IoT, Cloud Computing, automation and their integration in machine tools will enhance the competitiveness of European machine tools companies. Development of additive technology is the major area where many European machine tool companies have enhanced their focus. European machine tools manufacturing units have very strong focus on R&D and continuously adopt these developments in their product portfolio.
Improving Demand in Eastern European Countries: Western Europe factories rely on a reputation built on past success, most Eastern European factories are offering similar or advanced high standards. Eastern European countries offer many incentives to attract foreign investment and encourage companies to build new factories. High ethics standard and better compliance to standard laws among Eastern European nation is the key factor of choice over Asian countries.
Analysts at Ken Research in their latest publication "Europe Machine Tool Market Outlook to 2023 by Type of Machine (Cutting and Forming), By End Users (Automobile Industry, Aerospace, Energy, Engineering, Electrical and Electronics, and Others) and by Sales Channel (Distributor and Direct)" expect that with introduction of new technology and growing demand from Eastern European Countries will have positive impact on the market. The focus on development of high precision and intelligent machines will drive the demand for European manufactured machine tools. It is expected that European machine tools market will register a five year CAGR of 6.8% during the period 2018-2023.
Key Segments Covered
- By Type of Machine Tools
- Cutting Machine Tool
- Machining Centres
- Flexible machines
- Turning Machine
- Laser and electric discharge machine
- Milling machines
- Grinding
- Honing, lapping and polishing machines
- Transfer machines
- Gear cutting and finishing machines
- Drilling machines
- Boring machines and boring-milling machines
- Sawing and cutting-off machines
- Forming Machine Tool
- Forging machines and hammers (including presses)
- Wire working machines
- Bending, folding and straightening machines
- Shearing, punching, notching machines
- By End Users
- Automobile Industry
- Aerospace
- Energy
- Engineering
- Electrical And Electronics
- Others
- By Sales Channel
- Direct Sales
- Distributor Sales
- By Country
- Germany
- France
- Italy
- Switzerland
- Time Period Captured in the Report:
- Historical Period – 2013-2018
- Forecast Period – 2019-2023
- Key Companies Covered
- Trumpf
- DMG Mori Aktiengesellschaft
- Schuler
- Mazak
- Gregory Fischer Machining Solution
- Amada
- Komatsu
- Sandvik
- Gleason
- Flow International
- EMAG
- 600 Group
- Heller
- Chiron
Key Topics Covered in the Report
- Executive Summary
- Research Methodology
- Value Chain in Europe Machine Tool Market
- Europe Machine Tool Market Size, 2013-2018
- Europe Machine Tool Market Segmentation, 2013-2018
- Snapshot on Germany Machine Tool Market
- Snapshot on Italy Machine Tool Market
- Snapshot on France Machine Tool Market
- Snapshot on Switzerland Machine Tool Market
- Trends and Developments in Europe Machine Tool Market
- Issues and Challenges in Europe Machine Tool Market
- Competitive Landscape in Europe Machine Tool Market
- Europe Machine Tool Market Future Outlook and Projections, 2019-2023
- Analyst Recommendations in Europe Machine Tool Market
For more information on the market research report please refer to the link below:
Other Related Reports:
The report titled provides a comprehensive analysis on the Power Tools Market of Philippines. The report covers various aspects including introduction to Electric Power Tools Market, Value Chain Analysis, market segmentation, decision making parameters, porter five analysis, competitive landscape, major players and trends and developments. The report concludes with market projection and analyst recommendations highlighting the major opportunities and cautions.
Philippines Electric Power Tools market is an import driven market which is at its early growth stage. Power Tools market in terms of revenue has increased at a positive CAGR during the period 2012-2018. This growth was facilitated by the growing economy of the country, especially the construction industry along with rising demand from industrial and residential sector in the country. The electric power tools have a significant share in the overall power tools market in Philippines.
The customers in the market are price sensitive and lack awareness about the importance of power tools which has resulted in low penetration in the market. Electric Power Tools are used by both local manufacturers and construction companies in the country. However, people prefer purchasing from established players when compared to local manufacturers due to trust in quality of products and their existing brand image. Hence, the established players have majority share in the power tools market.
The report titled provides a comprehensive analysis on the Power Tools industry of Indonesia. The report covers various aspects including introduction on Indonesia power tools market, value chain, stakeholders in Indonesia power tools market ecosystem, market size by revenue (2013-2018), overall power tools market segmentation by type of technology, by region and by channel of distribution, further segmentation of electric power tools market by product, by corded and cordless tools, by application and by category of product, competition scenario in the electric power tools industry, shares and company profiles of major players, trade scenario, growth drivers, trends and developments, issues and challenges in the power tools market, decision making parameters, snapshot on pneumatic power tools industry and hydraulic power tools industry. The report also includes the future outlook for the market (2019-2023) including estimated market revenue, overall power tools market segmentation by type of technology, by region and by the channel of distribution and electric power tools market segmentation by corded and cordless tools and by an application.
The report is useful for manufacturers of power tools and new entrants in the sector to align their market-centric strategies according to ongoing and expected trends in the future.
The report provides a comprehensive analysis of the power tools market in India. The report covers various aspects such as overall size of India power tools market and each product category by revenue, segmentation on the basis of type of technology, source of energy, regions, application, end user, distribution channel and organized and unorganized market. The report also covers initiatives, certification requirements and industrial and labor laws by government sector, manufacturing clusters, decision making parameters by various end users and export and import scenario the industry. Additionally, the report offers prevalent trends, developments and restraints in industry. The report also covers the competitive landscape of the industry, market share of major players, and comprehensive profile of leading players operating in the market. Major macroeconomic indicators affecting the market have also been highlighted in the report. The report is useful for power tool manufacturers, dealers, sellers and other stakeholders to align their market centric strategies according to ongoing and expected trends in the future.
Indian Power tool industry is an import driven market with a large proportion of products imported in the country through countries such as China, Germany, UAE, Japan, Korea and others. Major players usually setup a plant in China but use German technology to built power tools equipment's which is finally imported by India.
The report provides a comprehensive analysis of Vietnam pumps market. The report focuses on overall market size, segmentation by type of pumps (Centrifugal, positive displacement, submersible non submersible and others). The report also covers the overall competitive landscape and Market Share of Major Players. The report concludes with Key Metrics and Profiles regarding Major players of the Market.
Vietnam Pumps Market in terms of revenue has increased at a positive double digit CAGR during the period 2013-2018. Currently, the market is at growing stage, with few major companies operating in this space which has provided manufacturers the freedom to decide pricing patterns for various centrifugal and positive displacement pumps. End customers had mainly focused on important parameters such as quality, efficiency and after sales service of pumps rather than price while purchasing pumps. The increasing demand for Water filtration projects and new industrial Manufacturing units led to an increase in sales of Pumps in Vietnam. Global players started entering the market through 100.0% owned subsidiaries, some even stared Manufacturing Plants such as Ebara in the year 2013.
Contact Us:
Ankur Gupta, Head Marketing
Ken Research Private Limited
Ankur@kenresearch.com
+91-9015378249
Logo : https://mma.prnewswire.com/media/661352/Ken_Research_Logo.jpg
Share this article