Technavio research analysts forecast the global metal forming machine tools market to grow at a CAGR of around 4% during the forecast period.
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Technavio has published a new market research report on the global metal forming machine tools market from 2018-2022. (Graphic: Business Wire)
Government initiatives to promote the machine tools industry is one of the major trends witnessed in the global metal forming machine tools market. The Ministry of International Trade and Industry in Japan has taken the initiative to rationalize the machine tools industry by implementing strategic M&As. Similarly, in India, the government has allowed 100% foreign direct investment (FDI) in the machine tools industry.
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According to Technavio's analysts, one of the key factors that will contribute to the growth of the global metal forming machine tools market is the large-scale industrial automation worldwide:
Global metal forming machine tools market: Large-scale industrial automation worldwide
The globalization of the overall industrial manufacturing sector has resulted in an increase in the quality and efficiency of manufacturing processes. This has led to a rise in the adoption of automated machine tools in the manufacturing sector. The investments in the global process automation applications have been increasing, with the emphasis being given to technology, software, services, hardware, and the communication protocol used for automation.
According to a senior analyst at Technavio for research on the tools and components sector, "Automated equipment and robotics can assist in ensuring the consistency of the final manufactured product. They eradicate the scope of human error and thereby, impact the overall quality of production. Hence, automation helps in precisely controlling and manipulating manufacturing processes to maintain quality."
Global metal forming machine tools market: Segmentation analysis
The global metal forming machine tools market research report provides market segmentation by end-user industries (automotive, industrial machinery, transportation, precision engineering, and construction), and by region (the Americas, APAC, and EMEA). It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
APAC held the largest share of the market in 2017, accounting for close to 59% share. It was followed by EMEA and the Americas respectively. APAC is expected to dominate the market throughout the period 2018-2022.
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Some of the key topics covered in the report include:
Market Landscape
- Market ecosystem
- Market characteristics
- Market segmentation analysis
Market Sizing
- Market definition
- Market size and forecast
Five Forces Analysis
Market Segmentation
Geographical Segmentation
- Regional comparison
- Key leading countries
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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