Global Screw Machine Market 2017-2021
About Screw Machine
A screw machine is an adaption of traditional horizontal lathe machine; it rotates the bar stock while various cutting tools cut and shape the bar stock and separate into many parts like screw, nuts, bolts, and fasteners. The growing demand for durable goods and a strong rebound in motor vehicle output will fuel significant growth in the global screw machine market. The expected sales growth would gain strong participation from emerging markets located in APAC, especially China. These developments should offer new sales opportunities to screw machine manufacturers in countries such as China.
Technavio’s analysts forecast the global screw machine market to grow at a CAGR of 1.56% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global screw machine market for 2017-2021. To calculate the market size, the report considers the average total production of a screw machine.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Screw Machine Market 2017-2021
Technavio recognizes the following companies as the key players in the global screw machine market: Cox Manufacturing, Eurotech, Tornos, and INDEX TRAUB.
Other Prominent Vendors in the market are: Davenport Machine, FANUC, Metra CNC Lathes and Multi Spindle Machines, Okuma, Precision Screw Machine Products, Valley Machining Company, and Wickman USA.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is increase in use of high-strength fasteners in wind towers. Wind energy plays a significant role in energy supplies worldwide. Also, wind energy is being continually expanded, which includes repowering old facilities and building new off-shore wind parks. This is expected to increase the number of wind energy plants, thus creating demand for screw machined products like fasteners, bolts, and nuts.”
According to the report, one of the major drivers for this market is growth of construction industry. Technavio predicts that the global construction output will experience a meteoric growth level and will be worth around $14.5 trillion by 2025, growing by more than 70% when compared with 2015. The tremendous growth is expected to be concentrated in three countries— China, the US, and India.
Further, the report states that one of the major factors hindering the growth of this market is slow growth in mining industry. The mining sector resorts to screw machine products for services in conveyors, crushing and pulverizing equipment, railroad cars, and material handling devices among many more. The year 2016 has been a challenging year for the global mining sector due to factors like geopolitical turmoil, increasing costs, price volatility, the decline in the quality of mined products, and lack of adequate financing.
Cox Manufacturing, Eurotech, Tornos, INDEX TRAUB, Davenport Machine, FANUC, Metra CNC Lathes and Multi Spindle Machines, Okuma, Precision Screw Machine Products, Valley Machining Company, and Wickman USA.
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