Global Metal Forming Machine Tools Market to Exceed USD 16 Billion by 2020, According to Technavio

According to Technavio's latest report, the global metal forming machine tools market is expected to exceed USD 16 billion by 2020, growing at a CAGR of almost 4% during the forecast period. The global manufacturing industry relies on metal forming machine tools for its core activities. Global economic activities and consumer spending influence the growth of industrial production, thus determining the growth of the metal forming machine tools market.

According to a lead research analyst at Technavio fortools and components, "APAC countries, especially China, India, and Japan, are witnessing considerable economic growth and booming manufacturing industries. The rise in manufacturing and construction activities in these countries will act as a driving force for the market.” To analyze the global market more comprehensively, this article exhibits the market scene of the main three areas in the world: APAC, EMEA, Americas.

APAC: Largest Market for Metal Forming Machine Tools 

The metal forming machine tools market in APAC is expected to exceed USD 10 billion by 2020, growing at a CAGR of almost 5%.

Technavio expects growth in the automotive and industrial sectors in APAC to boost the need for metal forming machine tools. Japan, China, India, Republic of Korea, Singapore, and Taiwan are the key revenue contributors to the metal forming machine tools market in this region.

China drives the metal forming machine devices market in APAC inferable from unfaltering monetary advancement that has prodded producing exercises in the nation in the course of the most recent decade. This has made a requirement for the generation of gear and apparatuses required for assembling exercises.

Likewise, high export activities of a wide range of manufacturing equipment and tools will lead to a surge in the demand for machine tools in the country.

EMEA: Development of High-quality Machine Tools to Boost Growth 

The metal forming machine tools market in EMEA is likely reach USD 4 billion by 2019, growing at a CAGR of over 3%.

Europe holds a sizable share in the global metal forming machine tools market in EMEA. Italy, Russia, Turkey, Switzerland, and the UK are significant revenue contributors to the metal forming machine tools market in this region, together comprising for more than 20% of the global market. Germany held the largest market share in 2015.

The demand for metal forming machine tools in the Middle East is expected to be driven by the rise in manufacturing and production activities, innovation, and continued research leading to development of high-quality machine tools. “The growth of the construction industry in the Middle East will also significantly contribute to the growth of the market,” says a lead research analyst at Technavio.

Americas: Rise in Manufacturing and Construction Activities Boosts Growth 

The metal forming machinetools market in the Americas is expected to exceed USD 2 billion by 2020, growing at a CAGR of over 1%.

The US, Mexico, Canada, Brazil, and Argentina are the key revenue contributors to the metal forming machine tools market in the Americas.

The US is the largest manufacturer of consumer goods in the world; nearly 19% of the global output is produced by the country. The aerospace and defense, automotive, chemicals, telecommunication, and machinery industries find high growth in the country, thus triggering the needs for machine tools.

A rise in manufacturing and construction activities coupled with an increase in the number of motor vehicles will drive the demand for machine tools in the US. The growth in these industries will lead to an increase in demand for metal forming machine tools which help in reducing the overall manufacturing costs.