Published on : Mar 06, 2017
ALBANY, NY, March 06, 2017: The report, titled ‘Global Multi-Tasking Machine Tools Market 2017-2021’, focuses on the development of the worldwide market and its future growth prospects. The report also provides an overview of the market drivers and challenges, trends, market landscape, and key vendors.
Multi-tasking machine tools perform the dual functions of machining and turning with equal ease, hence reducing the need for multiple machines to perform these functions. These tools play a crucial role in today’s progressive smart factories.
With the help of multi-tasking machine tools, it is easy and convenient to develop complex products and shapes and enhance dimensional accuracy. The demand for these tools can also be attributed to increasing demand for superior-quality products and computer numeric control (CNC) machines. In addition, the advent of 3D printing will propel the growth prospects for the global multi-tasking machine tools market over the forecast period. Reduction in capital costs, raw material costs, and costs incurred during the reuse of scrap materials is responsible for a significant shift in 3D printing from traditional manufacturing techniques.
However, high costs involved with the design and development of medical devices and equipment renders them unaffordable for most end users. Plus, as installation and maintenance costs of MRI and CT scanners are very high, many health organizations prefer to use refurbished medical devices that offer the latest technology at affordable prices to their patients. This further limits the growth of the global multi-tasking machine tools market.
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The global multi-tasking machine tools market is segmented on the basis of end user into aerospace and medical devices. The market for multi-tasking machine tools is led by aerospace segment and it is expected to hold a large share during the forecast period due to the increased usage of multi-tasking machine tools in the cutting of various materials and alloys that are otherwise difficult to penetrate.
The global multi-tasking machine tools market is geographically segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. North America is the key contributor to the market share and will continue to prosper in the said period owing to matured product categories such as coronary stents, orthopedic devices, and wound care.
Doosan Machine Tools, Accuway Machinery, Mazak, Breton, Hwacheon Machine Tools, Nakamura-Tome Precision Industry, Takisawa Machine Tool Company, Tongtai Machine & Tool Company, Okuma, Hyundai WIA, Tsugami, Brother, DMG Mori, Trevisan Machine Tool, and Toyoda are a few of the leading players operating in the global multi-tasking machine tools market.
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