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Global Machine Tools Market 2018-2022| Large Scale Industrial Automation to Drive Growth| Technavio

June 6, 2018

Technavio has published a new market research report on the global machine tools market from 2018-2022. (Graphic: Business Wire)

LONDON--(BUSINESS WIRE)--Jun 6, 2018-- analysts forecast the global machine tools market to grow at a CAGR of more than 7% during the period 2018-2022, according to their latest market research report.

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Technavio has published a new market research report on the global machine tools market from 2018-2022. (Graphic: Business Wire)

The government initiatives providing impetus to machine tools industry is one of the major trends being witnessed in the . Governments around the world have undertaken numerous initiatives to enhance the growth of the global machine tools market. The Ministry of International Trade and Industry, Japan, has taken the initiative to rationalize the machine tools industry by implementing strategic M&As.

This report is available at a USD 1,000 discount for a limited time only:

In this report, Technavio analysts highlight the large-scale industrial automation as a key factor contributing to the growth of the global machine tools market:

Global machine tools market: Large-scale industrial automation

Increasing globalization has led to enhancement in quality and efficiency of manufacturing processes. This increased the adoption of automated technologies in various machine tools used in the manufacturing sector. Investments in the global process automation applications continue to rise with a specific focus on technology, software, services, hardware, and communication protocol used for automation.

According to a senior analyst at Technavio for tools and components, “Automated manufacturing processes help in increasing the productivity, which helps businesses grow and compete. Increase in profits encourages businesses to focus on regulating resources and controlling losses. Regardless of the ultimate consequences, it is always beneficial for any business to improve its overall business efficiency.”

Global machine tools market - APAC dominates the global market

This market research report segments the global machine tools market into the following end-users (automotive, industrial machinery, precision engineering, and transportation) and key regions (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.

Of the four major end-users, the automotive segment held the largest market share in 2017, contributing to over 41% of the market. This market share occupied by this segment is expected to increase steadily during the forecast period.

APAC was the leading region for the global machine tools market in 2017. It accounted for a market share of approximately 54%. The market share occupied by this region is anticipated to increase by more than 1% during 2018-2022.

Looking for more information on this market?

Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.

About 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 10,000 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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View source version on businesswire.com:https://www.businesswire.com/news/home/20180606006249/en/

CONTACT: Technavio Research

Jesse Maida

Media & Marketing Executive

US: +1 844 364 1100

UK: +44 203 893 3200

www.technavio.com

KEYWORD:

INDUSTRY KEYWORD: MANUFACTURING ENGINEERING STEEL OTHER MANUFACTURING

SOURCE: Technavio Research

Copyright Business Wire 2018.

PUB: 06/06/2018 02:54 PM/DISC: 06/06/2018 05:46 PM

http://www.businesswire.com/news/home/20180606006249/en

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