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Credence Research
Chris Smith
105 N 1st ST #429, SAN JOSE,, CA 95103, United States

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Machine Tools Market Size, Share, Outlook and Forecast to 2018
According to a new market research report published by Credence Research “Machine Tools Market (Control Type – Conventional Machines and CNC Machines, 8/10/2018 - According to a new market research report published by Credence Research “Machine Tools Market (Control Type – Conventional Machines and CNC Machines; Product Type – Metal Cutting Tools (Drilling & Boring, Lathe, Milling & Machining Centers, Grinding, Lapping, Honing & Polishing Machines and Gear Cutting.) and Metal Forming Tools (Bending & Forming, Punching & Shearing, Metal Working Presses and Stamping); Industry Verticals – Automotive, Aerospace & Defense, Electrical & Electronics Manufacturing, Consumer Goods Manufacturing, Machine Tools & Parts Manufacturing, Shipbuilding Others) – Growth, Future Prospects and Competitive Analysis, 2018 - 2026”, the global machine tools market is set to hit US$ 120 Bn mark by 2026.

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Market Insights

The overall machine tools market is highly governed by the continually rising industrial manufacturing and processing sector worldwide. Asia Pacific estimated to remain the frontrunner in the market throughout the forecast period with strong industrial sectors across China, Japan, South Korea, Southeast Asia and India. The region contributes to more than 50% of the total market value generated worldwide, with China being the largest country-level market.

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Metal Cutting Machine Tools Segment to Retain Dominant Position

The metal cutting tools segment led the overall machine tools market worldwide in 2017, contributing to nearly 2/3rd of the total market value. Industrial sectors including automotive, aerospace & defense, machine tools & parts manufacturing and several others have material cutting as a major application. With consistent growth observed across these verticals, the metal cutting tools segment would continue exhibiting promising growth over the forecast period. The segment comprises variety of machines including drilling & boring, lathe, milling & machining centers, grinding, lapping, honing & polishing machines and others.

Machine Tools Market

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Asia Pacific Dominates the Market with More than 50% Market Share

Asia Pacific leads the overall machine tools market worldwide, accounting for more than 50% of the total market value, as of 2017. Presence of huge industrial manufacturing sector encompassing automotive, aerospace & defense, parts manufacturing, electrical & electronics and several others, primarily govern the market here. Due to factors such as abundant availability of resources and cheap labor, the manufacturing sector here is expected to continue flourishing over the following years, thereby enabling the region to retain its dominance. China plays the most prominent role in Asia Pacific as well as the global machine tools market. With continued expansion in its manufacturing sector over the decades, China has emerged as the world’s largest consumer as well as producer of machine tools.

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