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Automotive Machine Tool Market: Introduction

  • Machine tools are machines that are utilized to machine or shape metal and other rigid materials by means of various operation such as boring, shearing, cutting, grinding, and other forms of deformation. All machine tools have guided movement and are integrated with machining tools to perform cutting and other deformation operations.
  • Modern machine tools are powered either electrically or hydraulically. Manufacturers of machine tools are focused on the development of low maintenance machine tools in order to reduce operation cost.

Key Drivers of Automotive Machine Tool Market

  • Rise in trend toward automated machine tools owing to their high efficiency, high productivity, and high precision are prompting consumers to prefer CNC machine tools. Developments in machine tools, in terms of machining language and programming controllers, enable operators to set a predefined work cycle for the machine. A machine tool performs all the operations defined in the program, automatically, during the stipulated time frame. Therefore, a rise in the demand for CNC operated machine tools is expected to propel the global automotive machine tools market.
  • Per capita income is the measure of amount of money earned per person in the concerned geographical region. Business trends enabled through e-commerce and logistics, advancements in manufacturing technologies and machineries, foreign direct investments, and government initiatives to improve living standards of the population in the country are propelling the economic growth globally.
  • Rise in the per capita income indicates a rise in the purchasing capacity of the population in the respective region. This, in turn, is propelling the trend toward owning a vehicle among the population, thereby increasing the sale of vehicles across the globe. This, in turn, is propelling the manufacturing industry.
  • Expansion of the manufacturing industry coupled with technological advancements in machine tools, such as multi axis and robotic arm, is a major factor driving the automotive machine tool industry globally
  • However, disruptions in supply chain catering to the automobile industry, owing to shutdown of production and manufacturing facilities caused by the coronavirus pandemic across the world, is estimated to contract the market in 2020-2021. Consequently, the coronavirus pandemic has hampered the global automotive machine tool market.
  • The market is anticipated to recover by increasing production volume of vehicle components as well as vehicles in 2021. This, in turn, is projected to offer lucrative opportunity to players operating in the supply chain of the automotive machine tool market during the forecast period.

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Asia Pacific to account for major share of global automotive machine tool market

  • In terms of region, the global automotive machine tool market can be segmented into North America, Europe, Latin America, Asia Pacific, and Middle East & Africa
  • Asia Pacific is expected to account for a major share of the global automotive machine tool market. Surge in the number of metal cutting activities coupled with expansion of oil & gas, automotive, and railway industries has fueled the demand for machine tools. Countries such as China, India, Japan, and South Korea are prominent consumers in the machine tools market. Additionally, the presence of numerous automotive manufacturers who utilize machine tools for diverse applications such as drilling and cutting is another factor boosting the automotive machine tools market in Asia Pacific.

Key Players Operating in Automotive Machine Tool Market

The global automotive machine tool market is highly concentrated due to the presence of top manufacturers. A few key players operating in the automotive machine tool market are:

  • Doosan Corporation
  • AMADA Co., Ltd.
  • Makino
  • Jtekt Corporation
  • GF Machining Solutions
  • DMG Mori Aktiengesellschaft
  • Komatsu Ltd.
  • OKUMA Corporation
  • Hyundai WIA Corporation
  • Schuler AG
  • Chiron Group SE
  • MAG IAS GmbH
  • Spinner Machine Tools
  • Haas Automation
  • Gleason Corporation
  • Yamazaki Mazak Corporation
  • Dalian Machine Tools Group Corporation
  • Electronica Hitech Engineering Pvt. Ltd.
  • Ace Micromatic Group

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Global Automotive Machine Tool Market: Research Scope

Global Automotive Machine Tool Market, by Product Type

  • Milling Machine
  • Drilling Machine
  • Turning Machine
  • Grinding Machine
  • Lathe Machine
  • Electrical Discharge Machine
  • Others

Global Automotive Machine Tool Market, by Automation

  • CNC Machine Tools
  • Conventional Machine Tools

Global Automotive Machine Tool Market, by End-use Industry

  • Automotive
  • Aerospace & Defense
  • Electrical & Electronics
  • Consumer Goods
  • Precision Engineering
  • General Manufacturing
  • Others

Global Automotive Machine Tool Market, by Sales Channel

  • Offline
  • Online

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Automotive Machine Tool Market

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