The metalworking machinery manufacturing market consists of sales of industrial and commercial machinery by establishments that produces industrial and commercial machinery. These establishments are engaged in assembling parts into components, sub-assemblies and complete machines. The rise in the metalworking machinery manufacturing market is primarily based on the high demand for the general purpose machinery such as pumps, compressors, elevators, metros, and packaging machinery, global investments in construction, agriculture, and power generation industries. Machinery demand have also been registered from industry group comprised of establishments, that are primarily engaged in manufacturing industrial molds, such as tools, dies, jigs and fixtures and machine tool accessories and attachments. However, the market for metalworking machinery manufacturing may face some restraints associated to global recession, increase in interest rate and subsidies reduction.
The advanced machinery such as 6-axis CNC machine now witnessing an increased demand as it converts raw metal bar into final product by turning from the both fixture ends. The high quality products minimizes the errors. CNC milling further helps over the short-run production of the complex parts and fabrication of unique precision components. The rise in use of metalworking machinery manufacturing further expected to support the increased economic activity, and investment in the machinery manufacturing industry. The metalworking Machinery Manufacturing market includes segments such as Special Die & Tool, Die Set, Jig, And Fixture Manufacturing, Industrial Mold Manufacturing, and Machine Tool Accessory Manufacturing.
According to report “Metalworking Machinery Manufacturing Global Market Report 2019” Some of the key players Yamazaki Mazak, Amada Co. Ltd, DMG Mori Seiki AG, JTEKT Corporation, Shenyang Machine Tool Co. Ltd, Fives Machining Systems Inc. and Hardinge Inc. DMG MORI, ERLO, Giben International, Haas Automation, Knuth Machine Tools, IMSA, and TRUMPF Group. The key players have also adopted mergers & acquisition strategy for the business growth.
The continuous increase in the economic activity and the investments over the manufacturing industry over the worldwide are the primary factor driving the market growth. Moreover, the low fuel prices are supported the market growth. However, regulations surrounding carbon emissions and unstable global metal prices may impact the market growth. However, ongoing research & development activities over major players are expected to create the potential opportunities over the forecast period.
Based on type, metalworking machinery manufacturing market is segmented into the other general purpose machinery manufacturing, agriculture, construction, mining machinery manufacturing, engine, turbine, and power transmission equipment manufacturing, metalworking machinery manufacturing, industrial machinery manufacturing, heating, air-conditioning, and commercial refrigeration equipment manufacturing, commercial and service industry machinery manufacturing,. Among these segments, and other general purpose machinery manufacturing are the largest segment in the machinery manufacturing market.
Based on geography, metalworking machinery manufacturing market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these, the Asia-Pacific market accounted for the largest share. The ever rising of shoring, robotics and automation and driverless tractors and robots are the major trends witnessed in the global machinery manufacturing market. Moreover the low interest rate environment, technology development, growth in consumer markets are expected to significantly increase over the forecast period.
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Ankur Gupta, Head Marketing & Communications