Machine Tools Market in the US 2017-2021

Overview of the machine tools market in the US

Technavio’s market research report predicts that the machine tools market in the US will grow at a CAGR of above 4% during the forecast period. The rise in private non-residential fixed investments is one of the primary drivers for market growth. The recent years witnessed an increase in non-residential fixed investments in the US and this highly benefits the private vendors. For instance, private non-residential investments increased from about USD 1600 billion in 2012 to about USD 2050 billion in 2013. High investments were made in the construction sector for the betterment of infrastructures such as railways, factories, and offices, which are the major end users of machine tools. This trend is expected to continue during the forecast period as well, which will in turn, enhance the requirement for machine tools.

The industry revolution along with the popularity of the industrial internet of things (IoT) has created the need for cloud-based computing to monitor a large amount of data in cost-effective ways. As a result, there will be an increase in the adoption of CNCs as machine tools, which will increasingly adopt cloud-based systems into the machines. This will allow users to access CNC machines from remote locations using smartphones and other devices and also monitor and control operations in real time. Moreover, these advanced cloud-based CNC machines also provide features to obtain performance results of these machine tools and receive data from remote locations. Such advantages will result in an increased adoption of cloud-based machine tools in the coming years and this will be one of the latest trends that will gain traction in the machine tools market in the US.

Competitive analysis and key vendors

The machine tools market in the US is charactertized by a mixture of global and regional vendors. The vendors in the market are constantly investing in technology to bring out innovative, energy-efficient, and enhanced CNC solutions that can be used in end-user industries. Moreover, the government initiatives will also improve investments in the automotive industry in the US. Since the automotive industry is the major end user of the machine tools, this rise in investments will increase the level of competition in the market.

Key vendors in the market are:

• Dalian Machine
• DMG MORI
• Haas Automation
• JTEKT
• Komatsu

Other prominent vendors include Amada Machine Tools, Fives, Gleason, Hardinge, Mitsubishi Electric, Makino, Okuma, Yamazaki Mazak, and TRUMPF.

Segmentation by product-type and analysis of the machine tools market in the US

• Metal cutting machine tools
• Metal forming machine tools

During 2016, the metal cutting machine tools dominated the product-type segment in the machine tools market in the US and is expected to continue its dominance over the next four years. The increased adoption of the metal cutting machine tools in the industries such as aerospace and automotive and the growth of the automotive industry in the US, will drive the growth of this market segment.

Segmentation by end-users and analysis of the machine tools market in the US

• Automotive
• Aerospace
• Metal fabrication

As per the Technavio’s market research report, the automotive industry led the end-user segment in machine tools market in the US during 2016 and is anticipated to continue the dominion during the forecast period. Factors such as flexible investment structure, large consumer base, government incentives, and improved technologies increase the requirement for automotive and machine tools over the next four years.

 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 machine tools market in the US?
• What are the key market trends impacting the growth of the machine tools market in the US?
• What are the challenges to market growth?
• Who are the key vendors in the machine tools market in the US?
• Trending factors influencing the market shares of the US.
• What are the market opportunities and threats faced by the vendors in the machine tools market in the US?
• What are the key outcomes of the five forces analysis of the machine tools market in the US?

Technavio also offers customization on reports based on specific client requirement.