LONDON--(BUSINESS WIRE)--Technavio projects the global conventional metal forming machine tools market to post a CAGR of close to 3% during the period 2018-2022, according to their latest market research report.
The growth in the commercial aircraft leasing market is a key driver, which is expected to impact the growth of the global conventional metal forming machine tools market. With the growth in commercial aircraft leasing market, there will be an increase in demand for narrow-body aircraft. This will lead to an increase in demand for aircraft components such as fuselage and wings which are manufactured using metal forming. Therefore, the growing demand for aircraft will result in an increase in demand for conventional metal forming machine tools.
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In this report, Technavio highlights the development of smart tool holders as one of the key emerging trends to drive the global conventional metal forming machine tools market:
Global conventional metal forming machine tools market: Development of smart tool holders
All industries across the globe are focused on saving time, cost and space while improving performance. A smart tool holder system has less redundant components to ensure a neat design and it also helps to reduce costs and shortens the assembly cycle time.
According to a senior analyst at Technavio for tools and components research, “The improved design of smart tool holders requires lower axial force to achieve higher torque when compared to traditional tool holders. This helps to reduce costs and improve the longevity of the tool holder. The growing popularity of smart tool holders will result in better machining and increase the demand for metal machining in the future.”
Global conventional metal forming machine tools market: Market segmentation and analysis through 2022
This market research report segments the global conventional metal forming machine tools market by technology (bulk deformation and sheet metal working) and key regions (the Americas, APAC, and EMEA).
The bulk deformation segment dominated the market accounting for over 56% of the market in 2017, which is expected to increase further by 2022.
In 2017, the global conventional metal forming machine tools market was led by APAC which accounted for over 54% share followed by the Americas and EMEA respectively. APAC is expected to witness a further increase in its market share over the forecast period, thereby consolidating its lead.
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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.
Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market sizing
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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