Tool room Market size was estimated at $xx Million in 2020 and is expected to reach $xx Million by 2027, growing at a CAGR of 11.45% during the forecast period of 2020 to 2027.
Market Definition / Research Scope
The tool room is the room set aside to keep tools for storage, repairing, and machining. The space area differs based on the kinds of toolroom machines and applications. Toolroom machine is a piece of electro-mechanical equipment used for various applications like shaping, grinding, milling, slotting of metals.
A toolroom machine is used to shape rigid materials, especially wood, and metal by grinding, cutting, boring, shearing, or deforming. Due to the manner of operation, toolroom machines are categorized into various kinds, such as numerically and conventional control.
There are different examples of toolroom machines, and they are gear shapers, hobbing machines, lathe machines, shapers, screw machines, milling machines, broaching machines, drill presses, and grinding machines. Tool room machines are used in different applications in industries where there is typically a need to shape, cut, and grind rigid materials like wood and metal.
Toolroom Machine (Machine Tools) Market Growth and Trends
Driving factors for the industry :
• A tool room machine is in high demand in various fields of industrial sectors for shaping metals and other rigid materials by boring, shearing, grinding, cutting, deforming etc. and are classified into conventional and numerically controlled type based on their mode of operation. Thereby growing the demand for the global industrial tool room machine (machine tools) market in few years.
• Rapid growth of automation sector industries is expected to demand for more number of the global industrial tool room machine (machine tools) for various activities and is therefore expected to be a major factor fueling the growth and demand for the global industrial tool room machine (machine tools) market in few years.
• Rising improvement and adoption of newer and better innovation technologies in terms of product quality and efficiency in the manufacturing processors due to heavy globalization across the world is also responsible for boosting the growth and demand for the global industrial tool room machine (machine tools) market within forecasted time period.
• Growing adoption of electric vehicles and computer numerical control (CNC) machines are other important factor that are responsible for the growth and demand for the global industrial tool room machine (machine tools) market in few years.
• The global industrial tool room machine (machine tools) market is diversely segmented due to the presence of huge international and foreign investment which has ensure a competitive environment for both the international and regional players.
Challenges for the industry :
• One of the major challenge faced by the global industrial tool room machine (machine tools) is high cost related to the installation and maintenance in customer application because the cost of production is also very high this is a major factor which will hamper the growth of the global industrial tool room machine (machine tools) in near future.
• Lack of proper standard, absence of properly trained work staff hinders the market growth.
• The complex design related to these machines is also one of the major factors hampering the growth of the global industrial tool room machine (machine tools) market.
Toolroom Machine (Machine Tools) Market Regional Analysis
The Asia Pacific dominated the market with a revenue share of more than 35% in 2019 because of the increased in the government interference in the regions that encourage initiatives like Make in India and Made in China in 2025. Countries like Japan, India, China, and South Korea are developing rapidly because of the adoption of machine tools in the automotive industries, rising rapidly. North America mainly countries like the USA, Canada, and is expected to hold great revenue because of the increasing demands of the machine tools in industries like aerospace, defence, oil, and energy. Other countries like Brazil, New Zealand, Norway, South Korea, Middle East, and Africa are growing at a very high rate because of the increased number and demand by the aircraft sector.
Toolroom Machine (Machine Tools) Market Share and Competition
Key companies operating in this industry are: Hexagon AB acquired SPRING Technologies, Hoffmann Group, 3M Company, AMADA MACHINE TOOLS CO., LTD., Larsen & Toubro Infotech Limited, Siemens AG, Dalian Machine Tool Group Corporation, Allied Machine & Engineering Corporation, ANCA Pty Ltd., DANOBAT Group, Delapena Group, Doosan Machine Tools Co., Ltd., FANUC Corporation, Junker Group, JTEKT Corporation, Kellenberger & Co. AG, Komatsu Ltd., Korber AG, Koyo Machinery, Okuma Corporation, Schuler Group, Shenyang Group, Toyoda Americas, and WMW Machinery. Similar industries in this domain that is growing at a high CAGR include Pneumatic Tools Market and Flaring Tool Market.
Toolroom Machine (Machine Tools) Market Research Report Analysis Highlights
• Historical data available (as per request)
• Estimation/projections/forecast for revenue and unit sales (2020 – 2027)
• Data breakdown for every market segment (2020 – 2027)
• Gross margin and profitability analysis of companies
• Price analysis of each product type
• Business trend and expansion analysis
• Import and export analysis
• Competition analysis/market share
• Supply chain analysis
• Client list and case studies
• Market entry strategy
Industry Segmentation and Revenue Breakdown
Control type Analysis (Revenue, USD Million, 2020 - 2027)
• Conventional Machines
• Computer Numerical Control (CNC) Machines
Tool type Analysis (Revenue, USD Million, 2020 - 2027)
• Metal Cutting Tools
• Metal Forming Machines
Industry Analysis (Revenue, USD Million, 2020 - 2027)
• Automotive
• Aerospace & Defense
• Machine Tools & Parts Manufacturing
• Electrical & Electronics Manufacturing
• Shipbuilding
• Consumer Goods
• Others (Construction, Mining)
Region Analysis (Revenue, USD Million, 2020 - 2027)
• United States
• Canada
• Mexico
• France
• Germany
• Italy
• Spain
• United Kingdom
• Russia
• China
• India
• Philippines
• Malaysia
• Australia
• Austria
• South Korea
• Middle East
• Japan
• Africa
• Rest of World
Toolroom Machine (Machine Tools) Market Companies
• Hexagon AB acquired SPRING Technologies
• Hoffmann Group
• 3M Company
• AMADA MACHINE TOOLS CO., LTD.
• Larsen & Toubro Infotech Limited
• Siemens AG
• Dalian Machine Tool Group Corporation
• Allied Machine & Engineering Corporation
• ANCA Pty Ltd.
• DANOBAT Group
• Delapena Group, Doosan Machine Tools Co., Ltd.
• FANUC Corporation
• Junker Group
• JTEKT Corporation
• Kellenberger & Co. AG
• Komatsu Ltd.
• Korber AG
• Koyo Machinery
• Okuma Corporation
• Schuler Group
• Shenyang Group
• Toyoda Americas
• WMW Machinery.
Available Versions: -
United States Toolroom Machine (Machine Tools) Market Research Report
Europe Toolroom Machine (Machine Tools) Market Research Report
Asia Pacific Toolroom Machine (Machine Tools) Market Research Report
India Toolroom Machine (Machine Tools) Market Research Report
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