Europe Machine Tools Market

Market Overview:

The Europe machine tools market is expected to exhibit a growth rate (CAGR) of 4.5% during 2023-2028.

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.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the Europe machine tools market report, along with forecasts at the regional and country levels from 2023-2028. Our report has categorized the market based on tool type, technology type and end use industry.

Breakup by Tool Type:

• Metal Cutting
• Metal Forming
• Accessories
   

Breakup by Technology Type:

• Conventional
• CNC (Computerized Numerical Control)
   

Breakup by End Use Industry:

• Automotive
• Aerospace and Defense
• Electrical and Electronics
• Consumer Goods
• Precision Engineering
• Others
   

Breakup by Country:

• Germany
• France
• United Kingdom
• Italy
• Spain
• Others
   

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players.

Report Coverage:

Key Questions Answered in This Report:

• How has the Europe machine tools market performed so far and how will it perform in the coming years?
• What has been the impact of COVID-19 on the Europe machine tools market?
• What are the key regional markets?
• What is the breakup of the market based on the tool type?
• What is the breakup of the market based on the technology type?
• What is the breakup of the market based on the end use industry?
• What are the various stages in the value chain of the industry?
• What are the key driving factors and challenges in the industry?
• What is the structure of the Europe machine tools market and who are the key players?
• What is the degree of competition in the industry?