Research and Markets has announced the addition of the "Machine Tools Market in the U.S. 2014-2018" report to their offering.
The analysts forecast the Machine Tools market in the U.S. to grow at a CAGR of 2.32% for the period 2013-2018. One of the key factors contributing to this market growth is the increase in private non-residential fixed investment. The Machine Tools market in the US has also been witnessing the increase in technological advancement in machine tools. However, the increasing use of plastic products across industries could pose a challenge to the growth of this market.
Key vendors dominating this space are Dalian Machine Tool Group Corp., DMG Mori Seiki Co. Ltd., Haas Automation Inc., JTEKT Corp., and Komatsu Limited.
Other vendors mentioned in the report are Amada Company Limited., Fives Group, Flow Int’l. Corp., Gleason Corp., Hardinge Inc., Kennametal Inc., Makino Milling Machine Co. Ltd., Mitsubishi Heavy Industries Ltd., Okuma Corp., Tongtai Machine & Tool Co. Ltd., Shenyang Machine Tool Co. Ltd., TRUMPF Group, and Yamazaki Mazak Corp.
Commenting on the report, an analyst from the team said: One of the major trends is the increasing technological advancement. Vendors are designing new machine tools, which provide ease of operation, less time consumption, and are highly efficient, such as electrical discharge machines, ultrasonic, and electronic beam technologies.
According to the report, one of the major drivers is the increase in private non-residential fixed investments. Private vendors are increasingly making investments in the construction of infrastructure, which uses machine tools, thus there is an increasing demand for such tools in the U.S. Another major driver is the increasing growth of fabricated metal products.
Source: Research and Markets