Revolution of Competitive Strategies in the Industrial Machinery Market - Arizton

Revolution of Competitive Strategies in the Industrial Machinery Market - Arizton

PR Newswire

CHICAGO, Nov. 9, 2021

CHICAGO, Nov. 9, 2021 /PRNewswire/ -- With a rising emphasis on power tools, vendors are operating in the market also revolutionizing their procedures by leveraging automated manufacturing systems. In the recent years, the competition among the players in the industrial machinery industry is increasing rapidly with the increasing trends of innovation. Mergers and acquisition have become common strategies for the players to expand their product portfolio in the global market. Arizton's research reports on the industrial machinery offering an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market insights. Observing these rapid and drastic changes in demand and supply patterns encouraged the industry analysts at Arizton to publish exhaustive and data-driven insights on these recent trends in the industry.

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1.  Machine Tools Market - Global Outlook and Forecast 2021-2026

The global machine tools market size to reach USD 122 billion by 2026, growing at a CAGR of 8.5% during the forecast period. Machine tools are mostly utilized in the assembly of precision parts that are more prominent mostly in the automotive and aerospace industries. On the hi-tech manufacturing side, precision manufacturing, which was traditionally dominated by countries such as the US, Germany, Italy, Switzerland, and France has now shifted toward economies such as China, Singapore, and India. New entrants are offering superior technology to grab the opportunity to bring in their products and compete with existing players in the global machine tools market.

The machine tools industry is always been an investment-driven market. The machine tools market across the globe witnessed huge investments owing to the growth in industrialization. The ongoing transformation in several end-user industries to brace for automation will aid the sales of machine tools in the global market. Rising adoption of IoT, internet access, and growing demand for cloud computing is driving the global machine tools market.

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2.  Power Tool Accessories Market - Global Outlook and Forecast 2020-2025

Power tool accessories market is expected to reach USD 16.97 billion by 2025, growing at a CAGR of 6.15%. The rising development in Li-ion technology and extended possibilities to use the progress in the technology is expected to drive the power tools accessories market growth during the forecast period. Over the next few years, the rising dominance of social media and e-commerce websites has the global revival after the COVID-19 pandemic which in turn, will pose a growth curve for the power tools and accessories market across all regions. Atlas Copco, Apex Tool Group, Stanley Black & Decker, and Bosch are some of the major players in the power tool accessories market.

APAC will be the hotspot for the advent of electric and plug-in vehicles in the next decade is enhancing new opportunities in the automotive and its aftermarket industry that can effectively utilize power tools and accessories. For instance, Falabella is one of the renowned vendors for DIY enthusiasts in Chile, which supports the growth of the power tool accessories market. The efforts from Falabella to expand its online presence can be a further growth opportunity for the vendor during the forecast period.

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3.  Power Cutter Market - Global Outlook and Forecast 2020-2025

Power cutter market is expected to reach USD 7.06 billion by 2025, growing at a CAGR of 5.48% during the period 2020-2025. Robust industrialization and expansion of sectors, such as manufacturing in fast-developing countries, delivers an optimistic narration for power cutter market players. The rise in the application of precision parts and increasing global consumer traffic are expected to drive the demand for power cutters in the aerospace industry. The US is the leading exporter of manufacturing technology products, with exports mostly targeted at Europe, especially Germany, and in Mexico and Canada. The power cutter market in the US is expected to reach 1.23 million units by 2025. The presence of hypermarkets, supermarkets, and other specialty stores such as Home Depot, which offers more DIY projects, are also driving the market for power cutters, which eventually rises residential segments in the global power cutter market. The growth in the production of light vehicles will create additional demand for new welded automotive components. This will create a potential demand for metal cutting tools during the forecast period.

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About Arizton:       

Arizton Advisory and Intelligence is an innovation and quality-driven firm, which offers cutting-edge research solutions to clients across the world. We excel in providing comprehensive market intelligence reports and advisory and consulting services.    

We offer comprehensive market research reports on industries such as consumer goods & retail technology, automotive and mobility, smart tech, healthcare, and life sciences, industrial machinery, chemicals, and materials, IT and media, logistics and packaging. These reports contain detailed industry analysis, market size, share, growth drivers, and trend forecasts.    

Arizton comprises a team of exuberant and well-experienced analysts who have mastered generating incisive reports. Our specialist analysts possess exemplary skills in market research. We train our team in advanced research practices, techniques, and ethics to outperform in fabricating impregnable research reports.    

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