Machine Tool Market: building up scope for machine tool dealers to increase sales & investment
Machine tool is industrial device which is used for various purposes such as lathe, saw, grinder or miller to shape or cut the metals and other materials depending on the needs. These tool machines are power driven and are highly used in manufacturing industries across the globe. There is high scope for the Machine Tool Market with increasing machine tool sales for industrial and mining activities during 2014-2021.
Scope and Regional Forecast of the Machine Tool Market:
According to the IndustryARC research analysis studies on the Machine Tool Market, growth in use of heavy duty industrial machineries and mining activities in various regions are the driving factors for the growth in this market. Horizontal milling machine, turning machine, lathe and CNC tools are others are expected to have high demand during 2014-2021.
Asia Pacific is the leading region in the Machine Tool Market and it is expected to have the fastest growth during 2014-2021. The increasing industrial activities in India, Thailand, Taiwan, Malaysia and South Korea are expected to boost the revenue generation through 2021.
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North America and Europe are the second and third leading regions in the Machine Tool Market. The growth of infrastructural activities, demand for machine tools for manufacturing industries and surge in mining are the driving factors in the respective regions during 2014-2021.
Segmentation and Key Players of the Machine Tool Market:
The Machine Tool Market is segmented into various categories in the IndustryARC marketing research report by product type, by end use industry and by geography as follows:
By product type: Metal Cutting Tools, Metal Forming Tools and Special Machine Tools
By end use industry: Automotive, Aerospace/Defense, Primary & Fabricated Metals and Electrical & Electronic Equipment
By geography: North America, South America, Europe, Asia Pacific and ROW
The key players in the Machine Tool Market according to the IndustryARC research report are as follows:
- Allied Machine & Engineering Corp.
- Doosan Infracore Company Limited
- Dalian Machine Tool Group Corporation
- DMG Mori Company Limited
- GF Machining Solutions.
The Machine Tool Market is a rapidly growing market with increasing machine tool manufacturers and machine tool dealers investing for the growth of the machine tool supply to meet the industrial demand. This market is expected to witness high growth owing to surge in the sales of CNC machine tools and lathe parts boosting the market revenue for machine tool companies across the globe during 2014-2021.
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