COVID-19 Impact on Global Machine Tool Market Size & Growth Analysis Report, 2021-2027

Post COVID-19, the global machine tool market size is projected to reach USD 68.9 billion by 2021 from an estimated USD 65.6 billion in 2020, at a CAGR of 5.0%. The projections were based on the ongoing automotive industry production drop, which is the biggest consumer of machine tools and, additionally, the supply chain disruptions caused by the COVID-19 pandemic in the manufacturing industry.
The machine tool market reached an all-time high in 2018. However, with the continuous decrease in automotive production over the last 2-3 years, the trade war (between the US and China) on tariffs creating a weak demand in downstream industries and the uncertainty in the international relations has impacted investment decisions, resulting in ~11% decline in the machinery demand for 2019.

A full report of COVID-19 Impact on Global Machine Tool Market is available at: https://www.orionmarketreports.com/covid-19-impact-on-global-machine-tool-market/45537/

Key Market Players

Some of the major players in the machine tool market are Doosan (South Korea), Amada (Japan), Makino (Japan), JTEKT (Japan), GF Machining Solutions (Switzerland), DMG Mori (Japan), Komatsu (Japan), OKUMA (Japan), Hyundai WIA (South Korea), Schuler (Germany), and Chiron Group (Germany), among others.

COVID-19 Impact on Global Machine Tool Market Segmentation

Based on machine type:

• Metal Cutting Machine
• Metal Forming Machine

Based on the automation type:

• CNC Machine tools
• Conventional Machine tools

Based on the industry:

• Automotive Industry
• Sheet Metal Industry
• Capital Goods
• Energy Industry

Based on the Sales Channel:

• Direct Sales
• Events & exhibitions
• Dealers & distributors

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Recent Developments

o Market Overview and growth analysis
o Import and Export Overview
o Volume Analysis
o Current Market Trends and Future Outlook
o Market Opportunistic and Attractive Investment Segment

Geographic Coverage

o North America Market Size and/or Volume
o Latin America Market Size and/or Volume
o Europe Market Size and/or Volume
o Asia-Pacific Market Size and/or Volume
o Rest of the world Market Size and/or Volume

Key Questions Answered by COVID-19 Impact on Global Machine Tool Market Report

• What was the COVID-19 Impact on Global Machine Tool Market in 2020 and 2021; what are the estimated growth trends and market forecast (2021-2027).
• What will be the CAGR of COVID-19 Impact on Global Machine Tool Market during the forecast period (2021-2027)?
• Which segments (product type/applications/end-user) were most attractive for investments in 2018? How are these segments are expected to grow during the forecast period (2021-2027)?
• Which manufacturer/vendor/players in the COVID-19 Impact on Global Machine Tool Market was the market leader in 2018?
• Overview on the existing product portfolio, products in the pipeline, and strategic initiatives taken by key vendors in the market.

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This release was published on openPR.