Global Metal Forming Machine Tools Market Expected to USD$ 16.1 Billion By 2020

Date: 2016-09-17

The global Metal Forming Machine Tools market is expected to grow from $13.2 billion in 2015 to $16.1 billion by 2020, at an estimated Compound Annual Growth Rate (CAGR) of 4.1% from 2016 to 2020. Metal forming machine tools are essential for manufacturing various metal components in the automotive industry. The automotive industry led this market in 2015 with an overall share of close to 44%. Growing production of automobiles in countries such as the US, China, Japan, and Germany has surged the need for metal forming machine tools.

The metal forming machine tools market in APAC is expected to exceed USD 10 billion by 2020, growing at a CAGR of almost 5%. The growth in the automotive and industrial sectors in APAC to boost the need for metal forming machine tools. Japan, China, India, Republic of Korea, Singapore, and Taiwan are the key revenue contributors to the metal forming machine tools market in this region.

Europe holds a sizable share in the global metal forming machine tools market in EMEA. Italy, Russia, Turkey, Switzerland, and the UK are significant revenue contributors to the metal forming machine tools market in this region, together comprising for more than 20% of the global market. Germany held the largest market share in 2015.

The metal forming machine tools market in the Americas is expected to exceed USD 2 billion by 2020, growing at a CAGR of over 1%. The US, Mexico, Canada, Brazil, and Argentina are the key revenue contributors to the metal forming machine tools market in the Americas.

The US is the largest manufacturer of consumer goods in the world; nearly 19% of the global output is produced by the country. The aerospace and defense, automotive, chemicals, telecommunication, and machinery industries find high growth in the country, thus triggering the need for machine tools.
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Read Full Report: http://www.gosreports.com/global-metal-forming-machine-tools-industry-2016-market-research-report/ 

Joanna | Executive – International Business and partner Relations
E-mail: info@gosreports.com | Tel: 1-510-400-8520
Web: www.gosreports.com

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