Research report added by Orbis Research predicts the global metal forming machine tools market to grow moderately at a CAGR of 4% during the forecast period.
Manufacturing industries are particularly dependent on metal forming machine tools for its core activities. Industrial activity in APAC countries, especially China, India, and Japan have witnessed a significant rise in manufacturing and construction activities and it is expected to be a driving force for the growth of this market until 2019.
As per the forecast, this market is likely to witness a growing demand for CNC metal forming machines tools. Analysts predict the need for automation in the manufacturing of metal forming machine tools will accelerate the shift from conventional, manually controlled machines to CNC machines that operate using programmed commands and computers.
Segmentation and analysis of the global metal forming machine tools market by application
- Automotive industry
- General machinery
- Transport machinery
- Precision engineering
- Building and construction
Metal forming machine tools are essential for manufacturing various metal components in the automotive industry. The automotive industry led this market in 2015 with an overall share of close to 44%. Growing production of automobiles in countries such as the US, China, Japan, and Germany has surged the need for metal forming machine tools.
Geographical segmentation and analysis of the global metal forming machine tools market
APAC countries such as China, Japan, Republic of Korea, India, Singapore, and Taiwan emerged as the key revenue contributors to the metal forming machine tools market in 2015.
Competitive landscape and key vendors
The global metal forming machine tool market is highly fragmented, with the presence of several vendors worldwide. The market is characterized by the presence of well-diversified international, regional, and local vendors.
The leading vendors in the market are:
- DMG Mori Seiki Aktiengesellschaft
- Fagor Arrasate
- Magna International
- Weiss-Aug Company
Other prominent vendors in the market include Amada, Byjc-okuma (Beijing), Doosan Infracore, Fair Friend Group, FANUC, GF Machining Solutions, Haas Automation, Hardinge, JTEKT, and Kennametal.
Read more details of the report at: http://www.orbisresearch.com/reports/index/global-metal-forming-machine-tools-market-2016-2020