LONDON--(EON: Enhanced Online News)--Technavio has announced the top five leading vendors in their recent global multi-tasking machine tools market report. This market research report also lists two other prominent vendors that are expected to impact the market during the forecast period.
“The global multi-tasking machine tools market is expected to show an upward trend during the forecast period due to the expected growth in end-user industries such as aerospace and medical devices, which accounted for close to 95% of the total market share in 2016”
Competitive vendor landscape
According to the research analysis, the global multi-tasking machine tools market is highly fragmented with the presence of several vendors. Rapid technological advances and the frequent changes in the market, as well as consumer preferences, constitute significant risk factors for the vendors operating in the market. Therefore, to succeed and survive in this extremely competitive environment, it is important for vendors to distinguish their product offerings and services through a clear and unique value proposition. The development of advanced and innovative technologies such as additive manufacturing will help the market grow during the forecast period.
“The global multi-tasking machine tools market is expected to show an upward trend during the forecast period due to the expected growth in end-user industries such as aerospace and medical devices, which accounted for close to 95% of the total market share in 2016,” says Gaurav Mohindru, a lead tools and components analyst from Technavio.
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Technavio heavy industry market research analysts identify the following key vendors:
Doosan Machine Tools
Based in South Korea, Doosan Machine Tools is a diversified company with a global footprint. Doosan Machine Tools specializes in the manufacture of machine tools, automation systems, and building power plants and industrial facilities.
Mazak manufactures machine tools that produce high-precision components. The company has also set up 38 technology centers and 41 technical centers in various regions such as Japan, Europe, North America, the CIS, Central and South America, and Asia to provide optimum service support and solutions.
Nakamura-Tome Precision Industry
Nakamura-Tome Precision Industry is well known in the global machine tool landscape. It specializes in the development of precision CNC lathe and precision machining centers. It has also developed machines for the processing of advanced parts that are used in IT devices such as optical lenses, hard discs, liquid crystal displays (LCDs), and optical connectors.
Okuma Corporation is a manufacturer of CNC machining technology. Okuma Corporation is known for its world-class products and dedicated customer service. The company's product offerings include vertical and horizontal machining centers, double column machining centers, lathes, grinders, and multi-tasking machine tools, which provide users high accuracy, high throughput, and reliable solutions to production machining operations.
Tsugami is a provider of high-precision, high-speed, and high-rigidity products. The company focuses on R&D to integrate information technology in its machines. Its product range consists of CNC precision automatic lathes, precision turning centers, machining centers, and grinding machines.
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Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.
Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
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