LONDON--(BUSINESS WIRE)--The global metal forming machine tools market is expected to grow by USD 1.89 billion as per Technavio. This marks a significant market slow down compared to the 2019 growth estimates due to the impact of the COVID-19 pandemic in the first half of 2020. However, steady growth is expected to continue throughout the forecast period, and the market is expected to grow at a CAGR of over 2%.
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Read the 120-page report with TOC on "Metal Forming Machine Tools Market Analysis Report by End-user (Automotive, Industrial machinery, Transportation, Precision engineering, and Others), Geography (APAC, Europe, North America, South America, and MEA), and the Segment Forecasts, 2020-2024".
The market is driven by large-scale industrial automation worldwide. In addition, the increasing adoption of automated equipment and robotics is anticipated to boost the growth of the metal forming machine tools market.
Automating manufacturing processes eliminates human errors and boost productivity. This helps manufacturing firms grow and gain a competitive advantage in the market. Such benefits have encouraged many companies to make significant investments in the adoption of automation technologies in manufacturing processes. These factors are resulting in the production of high volumes of components and parts, which, in turn, is driving the growth of the global metal forming machine tools market.
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Major Five Metal Forming Machine Tools Companies:
AMADA HOLDINGS Co. Ltd.
AMADA HOLDINGS Co. Ltd. operates its business through segments such as Metalworking Machinery Business and Metal Machine Tools Business. The company offers a line of products such as punch/laser combination machines, laser machines, press brakes, and welders among others.
Conzzeta Management AG
Conzzeta Management AG operates its business through segments such as Sheet Metal Processing, Chemical Specialties, Outdoor, and Glass Processing. The company offers a line of sheet metal processing solutions such as laser cutting systems, press brakes, and associated automation and software solutions among others.
DANOBAT GROUP S. Coop.
DANOBAT GROUP S. Coop. operates its business through segments such as Grinding, Milling and Boring, Turning, Metal Forming, and Others. The company offers a wide range of solutions in the field of grinding, turning, cutting, punching, bending, and automated production systems. Some of the offerings are external grinding, bed type milling machine, laser cutting, and flexible manufacturing systems among others.
DMG MORI Co. Ltd.
DMG MORI Co. Ltd. operates its business through segments such as Machine Tools and Industrial Services. The company offers turning, milling, ultrasonic, and grinding machines among others.
Komatsu Ltd. operates its business through segments such as Construction, Mining, and Utility Equipment; Retail Finance; and Industrial Machinery and Others. The company offers a line of products such as press brake, plasma cutting machines, laser cutting machines, and large presses among others.
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Metal Forming Machine Tools Market End-user Outlook (Revenue, USD Billion, 2020-2024)
- Industrial machinery
- Precision engineering
Metal Forming Machine Tools Market Geography Outlook (Revenue, USD Billion, 2020-2024)
- North America
- South America
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