Research and Markets, the “World’s Largest Market Research Store,” has announced its newest report on the United States machine tools market for 2014. The Dublin-based firm reported on Machine Tool Market Research and trends in the industry’s technological advancement for the current year.
According to the report, manufacturers of machine tools are looking for great overall efficiency with regard to manufacturing time and ease of operation. Many vendors are designing new machine tools that include electrical discharge machines and are developing ultrasonic and electronic beam technologies as well.
Machine tools can cover a wide variety of technologies, ranging from lathes and tube bending machinery to the computer numerical control (CNC) machines used in computer-aided design and manufacturing. Most machines are comprised of a variety of smaller tools, including saws and drills, and they are used primarily in industrial facilities.
The Research and Markets report states that one of the biggest drivers in the industry is the increase in private non-residential fixed investments, such as those made by private vendors to the infrastructure. The need for fabricated metal and plastic products and the increased demand for such tools in the United States are two other factors leading to economic growth for machine tool manufacturers.
The report speculated on the market size by 2018 and the projected growth rate for the industry over the next four years. It also answered questions pertaining to challenges to market growth and the strengths and weaknesses of key machine tool vendors.
Overall, the report concludes that the industry is growing, especially in the United States.
Research and Markets provides research reports to over 400 of the Fortune 500 Companies, including ExxonMobil, Nike, Shell, Microsoft, and Google. The 53-page machine tool report is the result of primary and secondary information from industry leaders and is available for purchase on the Research and Markets website.