Europe Machine Tools Market will be Driven by Modernization of Existing Industries in Western Europe and New Manufacturing Facilities in Eastern Europe: Ken Research

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Europe Machine Tool Market by Type of Cutting Tools (Machining Centres and Flexible machines, Turning Machine, Laser and electric discharge machine, Milling machines, Grinding, honing, lapping and polishing machines, Transfer machines, Gear cutting and finishing machines, Drilling machines, boring machines, and boring-milling machines, Sawing and cutting-off machines), by Forming tools (Forging machines and hammers (including presses), Wire working machines, Bending, folding and straightening machines, Shearing, punching, notching machines), by end-users (Automobile Industry, Aerospace, Energy, Engineering, Electrical and Electronics, and Others) and by sales Channel (Distributor and Direct)

  • Italy is expected to register the highest growth among the top three largest Machine tool markets in Europe. It will be driven by high domestic demand and production in the economy.
  • Domestic production in Europe is expected to improve but will be largely driven by demand for exports within and outside Europe.
  • Germany may lose its position as the largest market for machine tools in Europe to Italy.

Expected Market Growth and Structure: The machine tools market in Europe is expected to register a decline in growth rate due to poor manufacturing scenarios. The impact of Brexit and tension related to trade between the US and China is expected to die down in view of the larger interest of the global economy creating a positive business environment suitable for promotion in the growth of manufacturing and demand for machine tools. The market is in a matured stage in the majority of the western European countries which were once the manufacturing hubs of Europe.

Role of Intelligent Automation, AI and Big Data: Investment in associated sectors such as AI, IoT, Cloud Computing, automation and their integration in machine tools will enhance the competitiveness of European machine tools companies. The development of additive technology is the major area where many European machine tool companies have enhanced their focus. European machine tools manufacturing units have a very strong focus on R&D and continuously adopt these developments in their product portfolio.

Improving Demand in Eastern European Countries: Western European factories rely on a reputation built on past success, most Eastern European factories are offering similar or advanced high standards. Eastern European countries offer many incentives to attract foreign investment and encourage companies to build new factories. High ethics standard and better compliance to standard laws among the Eastern European nation is the key factor of choice over Asian countries.

Analysts at Ken Research in their latest publication “Europe Machine Tool Market Outlook to 2023 by Type of Machine (Cutting and Forming), By End Users (Automobile Industry, Aerospace, Energy, Engineering, Electrical and Electronics, and Others) and by Sales Channel (Distributor and Direct)expect that with introduction of new technology and growing demand from Eastern European Countries will have positive impact on the market. The focus on the development of high precision and intelligent machines will drive the demand for European manufactured machine tools. It is expected that European machine tools market will register a five year CAGR of 6.8% during the period 2018-2023.

Key Segments Covered:-

By Type of Machine Tools

Cutting Machine Tool

Forming Machine Tool

By End Users

Automobile Industry

Aerospace

Energy

Engineering

Electrical and Electronics

Others

By Sales Channel

Direct Sales

Distributor Sales

By Country

Germany

France

Italy

Switzerland

Time Period Captured in the Report:

Historical Period – 2013-2018

Forecast Period – 2019-2023

Key Companies Covered:-

Trumpf

DMG Mori Aktiengesellschaft

Schuler

Mazak

Gregory Fischer Machining Solution

Amada

Komatsu

Sandvik

Gleason

Flow International

EMAG

600 Groups

Heller

Chiron

Key Topics Covered in the Report:-

Executive Summary

Research Methodology

Value Chain in Europe Machine Tool Market

Europe Machine Tool Market Size, 2013-2018

Europe Machine Tool Market Segmentation, 2013-2018

Snapshot on Germany Machine Tool Market

Snapshot on Italy Machine Tool Market

Snapshot on France Machine Tool Market

Snapshot on Switzerland Machine Tool Market

Trends and Developments in Europe Machine Tool Market

Issues and Challenges in Europe Machine Tool Market

Competitive Landscape in Europe Machine Tool Market

Europe Machine Tool Market Future Outlook and Projections, 2019-2023

Analyst Recommendations in Europe Machine Tool Market

For more information on the market research report please refers to the link below:-

https://www.kenresearch.com/manufacturing-and-construction/machinery-and-parts/europe-machine-tool-market-outlook/249976-97.html

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Ken Research

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Ankur@kenresearch.com

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