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The Europe machine tools market is currently witnessing moderate growth. Machine tools are power-driven devices that cut, form, drill, grind, abrade and nibble industrial parts and components in identical shapes. These tools eliminate unwanted variations in products by minimizing human intervention at each stage of the production process. They provide greater agility and faster, automatic repeatable cutting operations. Besides this, they also help reduce scrap, lower setting times and decrease the number of skilled operators required per machine.
Machine tools assist in the optimum utilization of machines, improving the value chain and enhancing product uniformity. This, in confluence with the escalating demand for automation and precision in manufacturing processes, represents one of the key factors impelling the market growth in Europe. Moreover, the rising demand for automobiles and electronics products is positively influencing the manufacturing activities in the region, which is acting as another major growth-inducing factor. Apart from this, several companies are focusing on technological advancements in machine tools to improve their efficiency and productivity, which is anticipated to create a positive influence on the market growth in the coming years. On account of these factors, the market is expected to continue its moderate growth during the forecast period (2020-2025).
IMARC Group provides an analysis of the key trends in each sub-segment of the Europe machine tools market report, along with forecasts for growth at the region level from 2020-2025. Our report has categorized the market based on region, tool type, technology type and end use industry.
Breakup by Tool Type:
Breakup by Technology Type:
Breakup by End Use Industry:
Breakup by Country:
The competitive landscape of the industry has also been examined along with the profiles of the key players.
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