Technavio Announces Top Three Emerging Trends Impacting the Global Machine Tools Market

LONDON--()--Technavio’s latest report on the global machine tools market provides an analysis of the key trends expected to impact the market through 2016-2020. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.

The global machine tools market is predicted to exceed USD 120 billion by 2020, growing at a CAGR of over 6%.

According to Anju Ajaykumar, lead analyst at Technavio for tools and components research, “Industrial sectors where automation is employed on a wide scale such as automotive, aerospace and defense, electrical and electronics, medical devices, industrial machinery, and renewable energy are showing signs of positive growth which will augur well for the growth of the machine tools market during the forecast period.”

The top three emerging trends influencing the global machine tools market according to Technavio’s heavy industry research analysts are:

Integration of 3D printing technology with machine tools

The original application of 3D printers was to create small plastic models and prototypes. Currently, 3D printers are increasingly used to create prosthetics, full-scale clothing, and electronic products. These printers also have a tremendous potential in the industrial sector.

The dramatic changes that 3D printing technology has brought about are likely to have an impact on machine tools and plastic injection molding. 3D printing technology reduces material usage by nearly 30%-70% as compared to traditional techniques. This results in faster speed to market for new products and a reduction in development costs. Many machine tool manufacturers are incorporating this technology into their machine tools. For example, Japanese machine tool manufacturer Yamazaki Mazak has integrated metal 3D printing technology into its computer numerical control (CNC) product line.

Technological advances

The machine tools industry has evolved with the development of both hardware technology and software applications. This has resulted in machines becoming faster, intelligent, and versatile. Machines have now become multifunctional and are capable of performing a broad range of tasks inside a single set up. Electrical discharge machines, ultrasonic, and electronic beam technologies have revolutionized manufacturing technology. In 2013, the Taiwan-based Tongtai Machine Tool Company's TT51-USA ultrasonic machining center was set up in the US. This center offers a user-friendly operational interface together with enhanced machining precision. The German-made TRUMATIC 6000 was also introduced in the same year; this machine combines punching and laser technologies.

Multiple software products can be standardized on one platform. Advanced CAM technology is being used for multi-axis, multi-spindle, and multi-turret machines. Software is increasingly being used in automation of manufacturing and engineering processes. Software applications provide an integrated view of operation through direct integration with product lifecycle management, manufacturing execution services, process planning, and enterprise resource planning systems.

Surge in automation

The growing demand for superior-quality products has propelled companies to undertake automation in manufacturing. Investment in global process automation is continuing to grow at 6% and is projected to reach USD120 billion by 2019. This growth is focused on areas such as technology, hardware, software, services, and the communication protocol used for automation.

The machine tools sector in the developed and developing countries, especially those in mid and small-scale industries, are increasingly using NC and CNC machines rather than manually controlled conventional machines. The new and advanced machines operate using programmed commands and computers to enhance productivity.

“Increased productivity is a major factor, which benefits companies that use process automation. Moreover, implementing process automation not only enhances profit margins but also has a positive impact on resource regulation and loss control,” says Anju.

Some of the top vendors in the global machine tools market, as researched by Technavio analysts are:

  • DMTG
  • DMG Mori
  • SMTCL
  • Yamazaki Mazak

Browse Related Reports:

Purchase these three reports for the price of one by becoming a Technavio subscriber. Subscribing to Technavio’s reports allows you to download any three reports per month for the price of one. Contact enquiry@technavio.com with your requirements and a link to our subscription platform.

About Technavio

Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.

Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.

If you are interested in more information, please contact our media team at media@technavio.com.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com

Release Summary

Technavio’s latest report on the global machine tools market provides an analysis of the key trends expected to impact the market through 2016-2020.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com