Screw Machine Market by Type and Geography - Forecast and Analysis 2020-2024

The screw machine market size has the potential to grow by USD 525.82 million during 2020-2024, and the market's growth momentum will accelerate during the forecast period.

This report provides a detailed analysis of the market by type (single spindle screw machine and multi spindle screw machine) and geography (APAC, Europe, North America, South America, and MEA). Also, the report analyzes the market's competitive landscape and offers information on several market vendors, including Brinkman International Group Inc., Cox Manufacturing Co., Eurotech, FANUC Corp., INDEX-Werke GmbH & Co. KG Hahn & Tessky, METRA MULTIHUSILLOS SL, Okuma Corp., Precision Screw Machine Products Inc., Tornos SA, and Valley Machining Co.

Market Overview

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Market Competitive Analysis

The market is fragmented with a clear dominance of the large international players. This market is also moderately capital intensive, and hence, poses a challenge to the local screw machine manufacturers. The smaller players find it quite difficult to compete with international vendors, especially in terms of factors such as quality, features, functionalities, and services. The vendors in this market space experience maximum demand from the automotive, construction, aerospace, and shipbuilding sectors and have prospective growth opportunities in the field of aerospace and nuclear power as well. Brinkman International Group Inc., Cox Manufacturing Co., and Eurotech are some of the major market participants. Although the growth of the construction industry will offer immense growth opportunities, the slow growth in the mining industry will challenge the growth of the market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

To help clients improve their market position, this screw machine market forecast report provides a detailed analysis of the market leaders and offers information on the competencies and capacities of these companies. The report also covers details on the market's competitive landscape and offers information on the products offered by various companies. Moreover, this screw machine market analysis report also provides information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make the most of their future growth opportunities.

This report provides information on the production, sustainability, and prospects of several leading companies, including:

• Brinkman International Group Inc.
• Cox Manufacturing Co.
• Eurotech
• FANUC Corp.
• INDEX-Werke GmbH & Co. KG Hahn & Tessky
• METRA MULTIHUSILLOS SL
• Okuma Corp.
• Precision Screw Machine Products Inc.
• Tornos SA
• Valley Machining Co.

Screw Machine Market: Segmentation by Geography

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APAC was the largest screw machine market in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. The growth of the major end-user industries such as the automotive, aerospace and defense, shipbuilding, construction, and railways in this region is driving the demand for fasteners to be used in their corresponding manufacturing process. This will significantly drive screw machine market growth in this region over the forecast period.

60% of the market's growth will originate from APAC during the forecast period. China, Japan, and India are the key markets for screw machines in APAC. Market growth in this region will be faster than the growth of the market in other regions.

Screw Machine Market: Segmentation by Type

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A single spindle screw machine has one spindle in its configuration, which enables the cutting tools to cut one workpiece at a time. Single spindle screw machines have a variety of cam-operated mechanisms for automated production. Moreover, single spindle screw machines are used to manufacture several components and machine tools, such as automobile components. With the growth of end-user industries, the segmental market in focus is expected to register significant growth during the forecast period.

This report provides an accurate prediction of the contribution of all the segments to the growth of the screw machine market size.

Screw Machine Market: Key Drivers and Trends

The screw machine industry research report by Technavio predicts that the global screw machine market will grow steadily at a CAGR of over 1% by 2024. This market research analysis identifies the growth of the construction industry as one of the primary growth factors for this market. Construction activities require steel parts as they are significant in providing the necessary strength to the overall structure. With the considerable increase in the number of construction activities, especially in emerging markets such as India and China, the screw machine market size will grow enormously during the forecast period. The construction sector in the US is also expected to witness remarkable growth in the residential construction segment. This will increase the demand for screw machined products, subsequently fueling screw machine market growth.

The increase in the use of high-strength fasteners in wind towers is one of the latest screw machine market trends. Wind energy plays a significant role in energy supplies across the world and is witnessing constant expansions, including repowering old facilities and building new offshore wind parks. This will increase the demand for screw machined products such as fasteners, bolts, and nuts. Additionally, the growing awareness about the benefits of wind energy that will fuel the need for wind towers will increase the demand for screw machines in the long run.

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Screw Machine Market: Key Highlights of the Report for 2020-2024

• CAGR of the market during the forecast period 2020-2024
• Detailed information on factors that will drive screw machine market growth during the next five years
• Precise estimation of the screw machine market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the screw machine industry across APAC, Europe, North America, South America, and MEA
• A thorough analysis of the market's competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of screw machine market vendors

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