Global Screw Machine Market - Drivers and Forecasts by Technavio

Technavio has published a new report on the global screw machine market from 2017-2021. (Graphic: Business Wire)

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LONDON--()--Technavio analysts forecast the global screw machine market to grow at a CAGR of almost 2% during the forecast period, according to their latest report.

The research study covers the present scenario and growth prospects of the global screw machine market for 2017-2021. The market is segmented based on type (single spindle screw machine and multi-spindle screw machine) and geography (APAC, the Americas, and EMEA).

The growing demand for durable goods and a strong rebound in motor vehicle output will fuel significant growth in the global screw machine market. The expected sales growth would gain strong participation from emerging markets located in APAC, especially China. These developments should offer new sales opportunities to screw machine manufacturers in countries such as China.

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Technavio heavy industry research analysts highlight the following three factors that are contributing to the growth of the global screw machine market:

  • Growth of construction industry
  • Growth in automotive industry
  • Emergence of self-clinching fasteners

Growth of construction industry

The construction sector in the EU is expected to undergo revitalization after a period of moderate growth and is now expected to grow again during the forecast period. Significantly higher growth will be there in the construction sector of the Eastern European Union as compared with the Western counterpart. It is also predicted that after a prolonged period of average growth, the Spanish construction industry will revive itself during the forecast period.

Gaurav Mohindru, a lead tools and components research analyst at Technavio, says, “Construction essentially requires steel cast parts that are extensively used in construction applications. Any construction activity requires steel parts as they are significant in providing the necessary strength to the overall structure. With the growth in construction, there will be ample demand for screw machine products, which will, in turn, increase the demand for screw machines in the market.

Growth in automotive industry

The low-interest rates and low fuel prices were identified as key factors that are attributing to the growth of the automotive market. The sales of light vehicles in the US increased by more than 1% in the first half of 2016, which was by far the lowest in recent years. This signifies that the industry is cooling down with a slight fall in demand. However, the outlook for the automotive industry in Mexico and Canada seems promising, with sales growing substantially, without any signs of slowing down.

APAC recorded tremendous growth in automotive sales. Sale of light vehicles in the Australian and South Korean markets witnessed a single-digit growth. The South Korean market saw massive growth rates owing to the 15% reduction in the sales tax. China and India witnessed identical high sales growth with markets in Vietnam and the Philippines exhibiting robust growth rates as well,” adds Gaurav.

Emergence of self-clinching fasteners

Self-clinching fasteners come in a wide array of types and variations. It helps to reduce the number of attachment hardware, such as lock washers, loose washers, and nuts, significantly, as it requires only a single mating piece to complete the assembling process. The assembling process becomes easy and fast as few components are required. With proper installation, these fasteners perform their function reliably and efficiently without any further intervention.

The self-clinching fasteners are connected in the thin ductile metal sheets by the fabricators inside the properly sized mounting hole by the application of adequate pressure. This process results in a cold flow of the displaced sheet material, to form a specially designed annular recess in the shank or pilot of the fastener that locks the fastener in its place permanently. A serrated clinching ring, knurl, ribs, or hex head stops the fastener from being rotated when a tightening torque is applied.

Top vendors:

  • Cox Manufacturing
  • Eurotech
  • Tornos Group
  • INDEX TRAUB

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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.

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Contacts

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

Release Summary

Technavio analysts forecast the global screw machine market to grow at a CAGR of almost 2% during the forecast period, 2017-2021.

Contacts

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