The global metalworking machinery accessories market size is poised to grow by USD 6.28 billion during 2020-2024, progressing at a CAGR of over 3% throughout the forecast period, according to the latest report by Technavio. The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. Download a Free Sample of REPORT with COVID-19 Crisis and Recovery Analysis.
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Technavio has announced its latest market research report titled Global Metalworking Machinery Accessories Market 2020-2024 (Graphic: Business Wire)
The rising demand for fabricated metals from the construction and machinery industries will drive the growth of the global metalworking machinery accessories market during the forecast period. Countries such as Mexico, China, and Canada are constantly increasing their demand for fabricated metal products manufactured in the US. The manufacturing of these fabricated metals requires power tools. These power tools are used to manufacture fabricated metals such as ammunition, small arms, cutlery and utensils, stamped metal products, fasteners, springs, building products, tanks, cranes, and hardware. The rising use of power tools will wear out of the accessories, which will drive the demand for power tool accessories or metalworking machinery accessories which will drive the growth of this market during the forecast period.
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Report Highlights:
- The major metalworking machinery accessories market growth came from the work holding segment. One of the main reasons for this is the increased application of this to fix various workpieces.
- APAC was the largest metalworking machinery accessories market in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. This is attributed to factors such as the increase in FDI in large-scale manufacturing facilities, including the railways and defense.
- The global metalworking machinery accessories market is fragmented. Chevron Corp., Dover Corp., Enerpac Tool Group Corp., Exxon Mobil Corp., FUCHS PETROLUB SE, Jergens Inc., Makita USA Inc., Robert Bosch GmbH, The Lubrizol Corp., and Total SA. are some of the major market participants. To help clients improve their market position, this metalworking machinery accessories market forecast report provides a detailed analysis of the market leaders.
- As the business impact of COVID-19 spreads, the global metalworking machinery accessories market 2020-2024 is expected to have neutral. As the pandemic spreads in some regions and plateaus in other regions, we revaluate the impact on businesses and update our report forecasts.
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Emergence of adhesive fixturing will be a Key Market Trend
One of the key challenges faced by the manufacturers is securing and holding a part in place against machining forces. To overcome such challenges, manufacturers have developed a new work holding solution based on adhesives. This involves the bonding of a part on a machining fixture which can be easily removed by using radiant energy. This solution simplifies the fixturing for delicate and complex-shaped metallic or machined ceramic parts, which in turn, will boost the demand for work holding solutions during the forecast period.
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Metalworking Machinery Accessories Market 2020-2024: Key Highlights
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will assist metalworking machinery accessories market growth during the next five years
- Estimation of the metalworking machinery accessories market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the metalworking machinery accessories market
- Analysis of the market's competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of metalworking machinery accessories market vendors
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Executive Summary
Market Landscape
- Market ecosystem
- Value chain analysis
Market Sizing
- Market definition
- Market segment analysis
- Market size 2019
- Market outlook: Forecast for 2019 2024
Five Forces Analysis
- Five forces summary
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by Application
- Market segments
- Comparison by Application
- Workholding Market size and forecast 2019-2024
- Metalworking fluids Market size and forecast 2019-2024
- Power tools accessories Market size and forecast 2019-2024
- Market opportunity by Application
Customer landscape
Geographic Landscape
- Geographic segmentation
- Geographic comparison
- APAC Market size and forecast 2019-2024
- North America Market size and forecast 2019-2024
- Europe Market size and forecast 2019-2024
- South America Market size and forecast 2019-2024
- MEA Market size and forecast 2019-2024
- Key leading countries
- Market opportunity by geography
- Market drivers
- Market challenges
- Market trends
Vendor Landscape
- Vendor landscape
- Landscape disruption
- Competitive Scenario
Vendor Analysis
- Vendors covered
- Market positioning of vendors
- Chevron Corp.
- Dover Corp.
- Enerpac Tool Group Corp.
- Exxon Mobil Corp.
- FUCHS PETROLUB SE
- Jergens Inc.
- Makita USA Inc.
- Robert Bosch GmbH
- The Lubrizol Corp.
- Total SA
Appendix
- Scope of the report
- Currency conversion rates for US$
- Research methodology
- List of abbreviations
About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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