Product ID: SQMIG20I2151
Report ID:
SQMIG20I2151 |
Region:
Global |
Published Date: April, 2024
Pages:
165
|
Tables:
66 |
Figures:
75
With a market share of more than 35% in 2021, Asia Pacific was the market leader. The necessity for machine tools has increased as a result of an increase in metal cutting operations as well as expansion in the petroleum & energy, automobile, and railway industries. For instance, China is one of the major consumers of machine tools. The Asia Pacific might be considered a significant market area for machine tools given factors.
Due to the existence of multiple automakers that use machine tools for a variety of purposes, including drilling and cutting, Europe is also expected to represent a sizeable portion of the worldwide market. Additionally, North America is expected to expand at a strong pace of growth due to an increase in the use of automatic machine tools. This factor is expected to fuel the growth of the global machine tools market.
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REQUEST FREE CUSTOMIZATIONMachine Tools Market size was valued at USD 83.16 billion in 2019 and is poised to grow from USD 87.94 billion in 2023 to USD 137.43 billion by 2031, growing at a CAGR of 5.7% in the forecast period (2024-2031).
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Product ID: SQMIG20I2151