Machine Tools Market, By Product Type (Milling Machines, Lathes, Grinding Machines, Electrical Discharge Machines (EDM), and Others), By Material Type (Metal, Plastic, Composite, and Others), By Application (Automotive, Aerospace, General Engineering, Construction, and Others), By Geography (North America, Latin America, Asia Pacific, Europe, Middle East, and Africa)

Published In : Sep 2024

Code : CMI7431

Pages :165

Formats :

Excel and PDF

Industry : Industrial Automation and Machinery

Market Concentration and Competitive Landscape

Machine Tools Market Concentration By Players

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Advances Transforming the Technology of Machine Tools

Constant technological evolution has been characteristic of the machine tools landscape. Toolmakers have left no stone unturned in their efforts to make systems more productive, versatile as well as user-friendly for operators. One notable advancement is computer numerical controls (CNC) which have now become ubiquitous. Early adoption of CNC brought automation to shop floors while latest generations of controls featuring advanced interfaces and expansive programming choices have simplified usability. Further, distributed numerical controls (DNC) providing centralized programming/operation over networks and cloud-based controls are new frontiers. Meanwhile, motion and drive technology has seen sweeping upgrades. Use of direct drives replacing belt-gear arrangements and linear motor technology for feed axes have enhanced speed and accuracy manifold.

Newly developed high-precision linear encoders with nanometer resolution and multi-axis servo drives enabling perfect contouring have taken cincomatic performance to new levels. Similarly, adoption of high-powered and efficient spindles coupled with innovative tools holding technologies have boosted material removal rates. Machining centers today offering faster rapids and higher speed/feed parameters are a testament to this. Further areas witnessing landmark changes include integrated automation through collaborative robots, non-contact in-process inspection/measurement systems, intelligent tool cribs and AI/IIoT enabled predictive maintenance. The evolving needs across industries have spurred toolmakers to consistently introduce redesigned machines leveraging such innovations. This continuous upgradation remains instrumental in maintaining machine tools industry's growth momentum amidst technology disruptions across manufacturing landscape.

For instance, In December 2022, EIT Manufacturing, the largest innovation community in the European industry, joined forces with AMT - Advanced Machine Tools, a newly established biennial event showcasing the latest innovations in machine tools and related technologies. This collaboration aims to foster innovation and digital transformation in the metal industry, providing industrial manufacturing specialists in Europe with access to a wealth of opportunities through their partnership.

Key Players Insights