Global Machining Centers Market 2016-2020
About Machining Centers
A machining center may be defined as a machine tool that has the ability to perform multiple operations or processes by utilizing the different axes of the setup. The basic characteristic of a machining center is its ability to change tools automatically. The motion of the cutting tool can be programmed according to the nature of the work and tool movement can be controlled with the help of servo motors; the position feedback can be sent to the control system to enable the alignment of the tool to the required position.
Technavio’s analysts forecast the global machining centers market to grow at a CAGR of 5.68% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of global machining centers market for 2016-2020. To calculate the market size, the report covers the vendor landscape and discusses various products manufactured by vendors in the market.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Machining Centers Market 2016-2020
Technavio recognizes the following companies as the key players in the global machining centers market: DMTG, DMG Mori, SMTCL, and Yamazaki Mazak.
Other Prominent Vendors in the market are: Allied Machine & Engineering, Amada, AMERASEIKI, BYJC-OKUMA (Beijing) Machine Tools, Doosan, Doosan Infracore, ENSHU, Fair Friend, FANUC, GF Machining Solutions, Haas Automation, Hardinge, Heller, HMT, HURCO, Hyundai WIA, Jiuh-Yeh Precision Machinery, JTEKT, Kennametal, KIWA Japan, Komatsu, Maco, Makino Milling Machine, Matsuura, Micromatic, OKK, Sandvik, SISTER-CNC, SNK, Tongtai Machine & Tools, Toshiba Machine, Yama Seiki, and YCM.
Commenting on the report, an analyst from Technavio’s team said: “Rise in automation will be a key trend for market growth. Implementing automation not only increases profit margins but also has a positive impact on resource regulation and loss control. Automation in a company’s production or fabrication process increases its competitive edge and reduces operational costs. However, the high cost of automation systems and equipment makes it necessary to conduct a comparative study of additional costs with the overall cost reductions in the long run.”
According to the report, growing demand for fabricated metal products will be a key driver for market growth. The global fabricated metal products market was valued at $1.81 trillion in 2015 and will likely reach $2.35 trillion by 2020, growing at a CAGR of 5.36%. The US accounted for almost 20% of the entire global fabrication metal product market. There is an increase in the demand for US-manufactured fabricated metal products worldwide. For example, Mexico, Canada, and China rely heavily on the US for the supply of fabricated metals. Increased fabricated metal production in the country is leading to rising domestic demand for machine tools.
Further, the report states that there is a need for European machine tool manufacturers to open up to international markets to maintain and increase their production levels. However, the international markets pose many challenges, particularly to SMEs, which still account for more than 80% of European machine tool manufacturers. This factor will be one of the challenges for the market. These SMEs have to deal with a host of issues such as increasing global competition from state-owned enterprises, market access barriers, risks related to intellectual property rights, and unpredictable and complex regulatory mechanisms.
DMTG, DMG Mori, SMTCL, Yamazaki Mazak, Allied Machine & Engineering, Amada, AMERASEIKI, BYJC-OKUMA (Beijing) Machine Tools, Doosan, Doosan Infracore, ENSHU, Fair Friend, FANUC, GF Machining Solutions, Haas Automation, Hardinge, Heller, HMT, HURCO, Hyundai WIA, Jiuh-Yeh Precision Machinery, JTEKT, Kennametal, KIWA Japan, Komatsu, Maco, Makino Milling Machine, Matsuura, Micromatic, OKK, Sandvik, SISTER-CNC, SNK, Tongtai Machine & Tools, Toshiba Machine, Yama Seiki, YCM.