The metal working machinery market consists of sales of metal working machinery by entities (organizations, sole traders and partnerships) that produce machines such as cutting tools, metal cutting and metal forming machine tools, metalworking machinery accessories, rolling mill machinery, assembly machinery, fabricating machines, industrial molds, conversion or straightening equipment, special dies, tools, jigs, and fixtures.
Global Metalworking Machinery Market Size And Drivers:
The global metalworking machinery market is expected to grow from $245.99 billion in 2020 to $262.77 billion in 2021 at a compound annual growth rate (CAGR) of 6.8%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $357.27 billion in 2025 at a CAGR of 8%.
The metalworking machinery manufacturing market growth is aided by stable economic growth forecasted in many developed and developing countries.
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Trends In The Global Metalworking Machinery Market
Machinery manufacturers are offering advanced 6-axis CNC milling machines to efficiently fabricate complex components. CNC milling is a specific type of computer numerical controlled (CNC) machining. This involves the use of computers to control machine tools like lathes, mills, routers and grinders. The 6-axis CNC machine converts a raw metal bar into the final product by turning from both the ends of the fixture. This offers high quality products while minimizing errors. CNC milling helps in short-run production of complex parts and fabrication of unique precision components.
Global Metalworking Machinery Market Segments:
The global metalworking machinery market is further segmented based on type, application, capacity and geography.
By Type: Special Die And Tool, Die Set, Jig, And Fixture, Machine Tool, Industrial Mold, Rolling Mill And Other Metalworking Machinery, Cutting Tool And Machine Tool Accessory.
By Application: Automotive, Manufacturing, Others.
By Capacity: Small, Medium, Large.
Subsegments Covered: Dies, Stamping and Other Tools, Jigs and fixtures, Metal Cutting Tools, Metal Forming Tools, Metal Molds, Other Material Molds, Wire Drawing and Fabricating Machinery, Coil Winding and Cutting Machinery, Rolling Mill Machines, Other Rolling Mill And Other Metalworking Machinery, Metalworking Knives And Bits, Measuring Attachments, Metalworking Drill Bits, Machine Tool Taps And Dies.
By Geography: The global metalworking machinery market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia Pacific was the largest region in the global metalworking machinery market, accounting for 40% of the total market.
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Metalworking Machinery Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides metalworking machinery market overviews, analyzes and forecasts market size and growth for the global metalworking machinery market, metalworking machinery market share, metalworking machinery market players, metalworking machinery market segments and geographies, metalworking machinery market’s leading competitors’ revenues, profiles and market shares. The metalworking machinery market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
