Asia-Pacific Machine Tool Market, Forecast to 2023

Asia Pacific Machine Tool Market - Growth Opportunities, Analysis, Forecast, Asia Pacific,2023

Manufacturing Industries Shifting Toward Low-cost Production, Coupled with Globalization of Markets, is Propelling the Consumption of Machine Tools in Asia-Pacific , machine tool market , machine tool sales trends , us machine tool industry

RELEASE DATE
17-Jan-2020
REGION
Asia Pacific
Research Code: K430-01-00-00-00
SKU: IA01565-AP-MR_23989
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Description

Growing per-capita income of middle-class consumers has led to a rise in spending on goods. To meet the demand and grab the opportunity in the Asian market, manufacturing industries are investing in new production plants and machines. Additionally, low-cost manufacturing competitiveness such as lower labor costs, young populations, and low cost of raw materials have pushed end-user industries to relocate their businesses to Asian countries which will also lead to rapid increase in the demand for machine tools. Government initiatives to expand the economy and launch of new roadmaps to support innovation in the manufacturing sector will also drive the demand.

Moreover, with intense competition in the market, machine tool consumers are looking for more accuracy and precision to produce mass goods with minimum efforts. Understanding this necessity of their customers, machine tool manufacturers are producing machine tools. Machine tool manufacturing companies are manufacturing tools that are reducing production lead times significantly.

Factors limiting the growth of machine tools are high prices, adoption of used machine tool products, absence of skilled workforces, and dependency on capital expenditure from manufacturing industries.

New types of machines tools are being introduced by machine tool manufacturers to meet the requirements of high-end manufacturing and done-in-one processes. Moreover, the inclusion of new technologies such as Internet of Thing (IoT) and Big Data for preventive and predictive maintenance of machines will create immense opportunities in the machine tool market in coming years.

Machine tool manufacturers are aggressively supporting aftermarket sales support and customer support to serve their customers in every country in Asia-Pacific.

Japan continued to dominate the Asia-Pacific machine tool market, followed by South Korea and Taiwan in 2018. Vietnam, Thailand, and Indonesia are anticipated to have strong growth in the next 5 years, owing to the expansion of the manufacturing sector and rising demands. These regions are also investing more in Industry 4.0 and new technologies to compete against mature markets.

On the end-user vertical front, engineering and automotive sectors contributed the highest share in the machine tool market in 2018 and are projected to remain dominant throughout the forecast period. Growth in the aviation sector, supported by the growth in the upper middle-class population is driving the demand.

Amada, Yamazaki Mazak, and Okuma Corporation were the top 3 participants in the machine tool market in 2018. A diverse product portfolio and stronghold in the domestic market have led these companies to maintain their market shares in the Asia-Pacific machine tools market.

RESEARCH: INFOGRAPHIC

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Table of Contents

Key Findings

Key Findings (continued)

Market Engineering Measurements

Market Engineering Measurements (continued)

CEO’s Perspective

Market Definitions

Market Definitions (continued)

Market Definitions (continued)

Market Definitions (continued)

Key Questions this Study will Answer

Market Segmentation by Product Type

Market Segmentation by Region

Market Segmentation by Vertical

Market Distribution Channels

Market Drivers

Drivers Explained

Drivers Explained (continued)

Drivers Explained (continued)

Drivers Explained (continued)

Market Restraints

Restraints Explained

Restraints Explained (continued)

Restraints Explained (continued)

Market Engineering Measurements

Market Engineering Measurements (continued)

Forecast Assumptions

Revenue Forecast

Revenue Forecast Discussion

Percent Revenue Forecast by Country

Revenue Forecast by Country

Revenue Forecast by Country (continued)

Revenue Forecast by Country (continued)

Revenue Forecast Discussion by Country

Revenue Forecast Discussion by Country (continued)

Revenue Forecast Discussion by Country (continued)

Percent Revenue Forecast by Vertical Market

Revenue Forecast by Vertical Market

Revenue Forecast by Vertical Market (continued)

Revenue Forecast Discussion by Vertical Market

Revenue Forecast Discussion by Vertical Market (continued)

Market Share

Market Share Analysis

Competitive Environment

Top Competitors

Competitive Factors and Assessment

Competitive Factors and Assessment (continued)

Growth Opportunity 1—Hybrid Multi-Tasking Machine Tools

Growth Opportunity 2—Industry 4.0

Growth Opportunity 3—Smart Machines

5 Major Growth Opportunities

Strategic Imperatives for Success and Growth

Metal Cutting Segment Key Findings

Market Engineering Measurements

Revenue Forecast

Revenue Forecast Discussion

Distribution Channel Analysis

Percent Revenue by End User

Market Share

Metal Forming Segment Key Findings

Market Engineering Measurements

Revenue Forecast

Revenue Forecast Discussion

Distribution Channel Analysis

Percent Revenue by End User

Market Share

The Last Word—3 Big Predictions

Legal Disclaimer

Market Engineering Methodology

Partial List of Companies Interviewed

Abbreviations and Acronyms Used

List of Exhibits

List of Exhibits (continued)

Related Research
Growing per-capita income of middle-class consumers has led to a rise in spending on goods. To meet the demand and grab the opportunity in the Asian market, manufacturing industries are investing in new production plants and machines. Additionally, low-cost manufacturing competitiveness such as lower labor costs, young populations, and low cost of raw materials have pushed end-user industries to relocate their businesses to Asian countries which will also lead to rapid increase in the demand for machine tools. Government initiatives to expand the economy and launch of new roadmaps to support innovation in the manufacturing sector will also drive the demand. Moreover, with intense competition in the market, machine tool consumers are looking for more accuracy and precision to produce mass goods with minimum efforts. Understanding this necessity of their customers, machine tool manufacturers are producing machine tools. Machine tool manufacturing companies are manufacturing tools that are reducing production lead times significantly. Factors limiting the growth of machine tools are high prices, adoption of used machine tool products, absence of skilled workforces, and dependency on capital expenditure from manufacturing industries. New types of machines tools are being introduced by machine tool manufacturers to meet the requirements of high-end manufacturing and done-in-one processes. Moreover, the inclusion of new technologies such as Internet of Thing (IoT) and Big Data for preventive and predictive maintenance of machines will create immense opportunities in the machine tool market in coming years. Machine tool manufacturers are aggressively supporting aftermarket sales support and customer support to serve their customers in every country in Asia-Pacific. Japan continued to dominate the Asia-Pacific machine tool market, followed by South Korea and Taiwan in 2018. Vietnam, Thailand, and Indonesia are anticipated to have strong growth in the next 5 years, owing to the expansion of the manufacturing sector and rising demands. These regions are also investing more in Industry 4.0 and new technologies to compete against mature markets. On the end-user vertical front, engineering and automotive sectors contributed the highest share in the machine tool market in 2018 and are projected to remain dominant throughout the forecast period. Growth in the aviation sector, supported by the growth in the upper middle-class population is driving the demand. Amada, Yamazaki Mazak, and Okuma Corporation were the top 3 participants in the machine tool market in 2018. A diverse product portfolio and stronghold in the domestic market have led these companies to maintain their market shares in the Asia-Pacific machine tools market.
More Information
New Title Asia Pacific Machine Tool Market - Growth Opportunities, Analysis, Forecast, Asia Pacific,2023
New Subtitle Manufacturing Industries Shifting Toward Low-cost Production, Coupled with Globalization of Markets, is Propelling the Consumption of Machine Tools in Asia-Pacific , machine tool market , machine tool sales trends , us machine tool industry
No Index No
Podcast No
Author Ranjana Banerjee
Industries Industrial Automation
WIP Number K430-01-00-00-00
Is Prebook No
GPS Codes 9672-A9,9406-A5,9593,9420