United States Machine Tools Market Report, Trends, Business Strategies and Forecast 2020-2025
According to IMARC Group latest report titled “United States Machine Tools Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025”, offers a comprehensive analysis of the industry, which comprises insights on machine tools market in US. The report also includes competitor and regional analysis, and contemporary advancements in the market. The United States machine tools market is currently experiencing stable growth. Looking forward, IMARC Group expects the market to exhibit steady growth during the forecast period (2020-2025).
Machine tools are stationary, power-driven devices that cut, form, grind, drill, nibble, and abridge rigid industrial parts in specified shapes. Some of the com-monly used machine tools include grinding machines, reamer, lathe, drill press, mandrel, and milling. They operate using numerical control, which enhances product uniformity and minimizes human interaction during the production pro-cess. Machine tools offer high production value, increased reliability, reduced ef-forts, and improved manufacturing efficiency. As a result, machine tools are widely utilized in the aerospace, electronics, and automotive industries.
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
The rising demand for fabricated metals is the key factor driving the machine tools market growth in the United States. Additionally, the increasing adoption of machine tools in the manufacturing process of electric vehicles (EVs) and au-tonomous cars is acting as another growth-inducing factor. Moreover, rapid technological advancements in machine tools, such as computer numerical con-trol (CNC) and direct numerical control (DNC) equipped with multi-axis and ro-botic arms, are also supporting the market growth in the country.
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United States Machine Tools Market Segmentation:
Our report has categorized the market based on region, tool type, technology type and end use industry.
Breakup by Tool Type:
- Metal Cutting
- Metal Forming
Breakup by Technology Type:
- CNC (Computerized Numerical Control)
Breakup by End Use Industry:
- Aerospace and Defense
- Electrical and Electronics
- Consumer Goods
- Precision Engineering
Breakup by Region:
Key highlights of the report:
- Market Performance
- Market Outlook
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
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