Metalworking Machinery Manufacturing Market Characteristics
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.
Competitive Landscape of the Metalworking Machinery Manufacturing Market
Major players in the global metalworking machinery manufacturing market include TRUMPF Group, Amada Co., Ltd., Kennametal, Inc., Komatsu Ltd, Okuma Corporation, DMG Mori Seiki AG, JTEKT Corporation, Shenyang Machine Tool Co. Ltd, Fives Machining Systems, Inc. and Hardinge Inc.
Metalworking Machinery Manufacturing Market Size
The metalworking machinery manufacturing market size is expected to reach $390 billion by 2022, significantly growing at a CAGR of around 5.9% during the forecast period. The growth in the metalworking machinery manufacturing market is due to increased global economic activity, and investment in the manufacturing industry and low fuel prices.
However, the market for metalworking machinery manufacturing is expected to face certain restraints from several factors such as regulations surrounding carbon emissions and unstable global metal prices.
Metalworking Machinery Manufacturing Market Segmentation
The global metalworking machinery manufacturing market is further segmented based on type and geography.
By Type - The metalworking machinery manufacturing market is segmented into special die and tool, die set, jig, and fixture manufacturing, machine tool manufacturing, industrial mold manufacturing, rolling mill and other metalworking machinery manufacturing, cutting tool and machine tool accessory manufacturing, among these segments, the special die and tool, die set, jig, and fixture manufacturing market accounts for the largest share in the global metalworking machinery manufacturing market.
By Geography - The global metalworking machinery manufacturing is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, the Asia-Pacific metalworking machinery manufacturing market accounts the largest share in the global metalworking machinery manufacturing market.
Trends in the Metalworking Machinery Manufacturing Market
6-axis CNC milling machines, 3D laser cutting and automation in machine tools manufacturing are the major trends witnessed in the global metalworking machinery manufacturing market.
Potential Opportunities in the Metalworking Machinery Manufacturing Market
With increase in positive economic outlook, improved earning capacity, emerging markets growth, the scope and potential for the global metalworking machinery manufacturing market is expected to significantly rise in the forecast period.