LONDON--(BUSINESS WIRE)--May 9, 2019--The machine tools market in the Netherlands is expected to post a CAGR of more than 3% during the period 2019-2023, according to the latest market research report by Technavio.
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Technavio has published a new market research report on the machine tools market in the Netherlands from 2019-2023. (Graphic: Business Wire)
A key factor driving the growth of the machine tools market in the Netherlands is the rising demand for CNC-incorporated machine tools. CNC machine tools can help in easy programming of the parts to be manufactured and swiftly fabricate them with the help of semi-skilled operators. Moreover, the overall efficiency of these machines has improved significantly owing to the growing use of automation software and servo technology. Such technologies offer benefits such as energy savings and high precision during metal cutting and forming process. These benefits of using CNC-incorporated machine tools have helped in automating complete metal forming and metal cutting processes. With an increasing focus toward automating production lines, the use of automated equipment such as CNC machines will increase among the end-user industries in the Netherlands.
As per Technavio, the technological advances and use of robots with machine tools will have a positive impact on the market and contribute to its growth significantly over the forecast period. This machine tools market in the Netherlands 2019-2023 research report also analyzes other significant trends and market drivers that will affect market growth over 2019-2023.
Machine tools market in the Netherlands: Technological advances and use of robots with machine tools
To reduce the tool replacement cycle, the majority of vendors in the Netherlands have been focusing on developing high-strength tools. As a result, vendors have introduced high-speed steel cutting tools with powder metallurgy (HSS-PM) that offers a higher content of alloy which poses unique properties to improve wear resistance, toughness, and hardness. Further, manufacturers are focusing on adopting automation solutions and robots to fill the shortage of skilled labors in the metal forming industry. Robots can handle the entire work carried out by operators, reducing human intervention and the threat of accidents. With the growing focus of manufacturers on mass production, the robotics in machine tools will record an increase in demand in the metal forming industry during the forecast period.
“Apart from the technological advances and use of robots with machine tools, factors such as the growing adoption of 3D printing technology, rising demand for fabricated metal products, and the integration of IoT into machine tools will have a positive impact on the machine tools market in the Netherlands during the forecast period,” says an analyst at Technavio.
Machine tools market in the Netherlands: Segmentation analysis
This market research report segments the machine tools market in the Netherlands by end-users (general machinery, precision engineering, automotive industry, and transportation industry) and type (metal cutting tools and metal forming tools).
The metal cutting tools accounted for the maximum share of the machine tools market in the Netherlands in 2018. These tools find applications in electrical and electronic equipment, machinery, fabricated metal product, and transport industry. CNC metal cutting tools are used to develop products with complex dimensions and structures. There is a high demand for compact metal cutting tools by a growing number of small and medium-sized enterprises (SMEs) in end-user industries which will contribute to the growth of this segment during the forecast period.
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Five Forces Analysis
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- Key leading countries
- Vendors covered
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- Market positioning of vendors
- Competitive scenario
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KEYWORD: EUROPE NETHERLANDS
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SOURCE: Technavio Research
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PUB: 05/09/2019 11:40 AM/DISC: 05/09/2019 11:40 AM