Overview of the global special purpose machines market
According to Technavio’s market research report, the global special purpose machines market will grow at a CAGR of more than 6% during the forecast period. One of the key factors that will drive the market’s growth is the increasing demand for fabricated metal products. Fabricated metals are manufactured using machine tools such as press brakes. The demand for fabricated metals is increasing in the construction and transportation machinery industries. This in turn, will drive the demand for special purpose machine tools during the estimated period. Fabricated metals are also used in the automotive industry, transport machinery, stamped metal products, ammunition, small arms, cutlery and utensils, fasteners, building products, building machinery, and other metal-based hardware. Countries such as the US are witnessing an increasng demand for the production of fabricated metals. This will drive the demand for special purpose machine tools in the coming years, subsequently driving market growth.
The emergence of 3D printing is one of the key trends that will gain traction in the global special purpose machines market in the forthcoming years. 3D printing or additive manufacturing is used to create three-dimensional objects using a digital file. Special purpose machines are highly used in the additive manufacturing of objects since they reduce capital costs, raw material costs, and the expenses required to reclaim scrap.
Competitive landscape and key vendors
The special purpose machines market is highly fragmented due to the presence of several vendors. Vendors are focusing on enhancing their geographical presence and on expanding their manufacturing facilities. Additionally, they are also focusing on the development and introduction of innovative products to gain a competitive edge over their competitors.
Key vendors in this market are -
- Dalian Machine Tool
- DMG MORI
- EMAG
- Batliboi
Other prominent vendors in the market include Fives Landis, Global CNC Automation, Hann Kuen Machinery & Hardware, HMT, Invensys Engineers, Mazak, MITSUBISHI HEAVY INDUSTRIES MACHINE TOOL, Premier, and Shenoy Engineering.
Segmentation by end-user and analysis of the special purpose machines market
- OEMs
- Machine shops
The automotive and aerospace industries are the key end-users of special purpose machines. To ensure quality and deliver advanced finished products, OEMs undertake complex and important machining operations such as in-house precision machining. The OEMs segment will continue to be the largest end-user to this market until the end of 2021 due to the increasing demand for finished products using special purpose machines from various industries.
Segmentation by geography and analysis of the special purpose machines market
- Americas
- APAC
- EMEA
In terms of geography, APAC accounted for the majority market shares during 2016. China is moving towards a more consumption-oriented economy. This will create the demand for special purpose machines from the transportation sector, especially the aviation industry. To boost the overall manufacturing output of the region, manufacturers are also focusing on adopting advanced production machinery and equipment such as special purpose machines.
Key questions answered in the report include
- What will the market size and the growth rate be in 2021?
- What are the key factors driving the global special purpose machines market?
- What are the key market trends impacting the growth of the global special purpose machines market?
- What are the challenges to market growth?
- Who are the key vendors in the global special purpose machines market?
- What are the market opportunities and threats faced by the vendors in the global special purpose machines market?
- What are the trending factors influencing the market shares of the Americas, APAC, and EMEA?
- What are the key outcomes of the five forces analysis of the global special purpose machines market?
Technavio also offers customization on reports based on specific client requirement.
Special purpose machines (SPMs) are high-productivity machines that offer a great scope for high-volume production, with lower investment and cost of production, when compared with conventional CNC machines. They are designed with special tooling and fixtures that help produce the same component every day. Technavio’s reports for the engineering tools industry encompass a wide range of product markets including construction and tools and components. In addition to providing information on various aspects such as the evolving customer preferences and the factors, which will nurture and curb the growth of the vendors in the heavy industry’s marketspace, Technavio’s reports also present a competitive analysis of the leading vendors in the heavy industry market.
To precisely forecast the heavy industry’s growth potential, our market research experts conform to a mix of primary and secondary research techniques and carry out an extensive analysis of the factors, including technological advancements and the demand-supply shifts for products across the globe. Furthermore, with an aim to enable clients create new policies for market growth, our upcoming industry research report on the global special purpose machines market for the forecast period of 2017 to 2021 furnishes practical insights devised from sources of market intelligence such as manufacturers, suppliers, regulatory bodies, and stakeholders. Technavio also offers reports tailored for clients based on their specifications to help them substantiate their existence in the market.
This upcoming industry report on the global special purpose machines market considers the growth of related markets such as a gear hobbing machines, which is expected to grow at a CAGR of close to 3% by the end of 2021. This report for the global special purpose machines market also identifies the key drivers, evolving trends, and the challenges currently experienced by the heavy industry and presents vital insights into the sectors of test and measurement.