DUBLIN--(BUSINESS WIRE)--The "Machine Shops, Turned Product, And Screw, Nut, And Bolt Global Market Report 2021" report has been added to ResearchAndMarkets.com's offering.
The global machine shops, turned product, and screw, nut, and bolt market is expected to grow from $342.76 billion in 2020 to $392.2 billion in 2021 at a compound annual growth rate (CAGR) of 14.4%.
Major companies in the machine shops, turned product, and screw, nut, and bolt market include Infasco; Leland Industries; PCC; EBC Industries and EJOT Holding.
The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $506.65 billion in 2025 at a CAGR of 7%.
Western Europe was the largest region in the global machine shops, turned product, and screw, nut, and bolt market, accounting for 30% of the market in 2020. Asia Pacific was the second largest region accounting for 30% of the global machine shops, turned product, and screw, nut, and bolt market. Africa was the smallest region in the global machine shops, turned product, and screw, nut, and bolt market.
Many machine shops; turned product; and screw, nut, and bolt manufacturing companies are using robotics and automation to improve plant efficiency and productivity. Sensors are being used in various machines to access invaluable data for improving efficiencies and reduce potential breakdowns. For instance, according to a report by Boston Consulting Group (BCG), 1.2 million industrial robots are expected to be deployed by 2025, thus indicating rise in automation and robotics technology adoption to improve productivity and reduce production costs.
According to KPMG report, 16% executives of global metals companies have already invested in robotics for metal manufacturing, 31% executives have set plans to possibly invest in robotics for new technology and opportunities, and 42% are willing to invest on robotics in the near future. Additionally, the report states, 63% of the executives of metal manufacturing companies are considering investing in automation. Examples of companies offering industrial robots to metals companies include FANUC, KUKA, ABB, and Motoman.
The machine shops, turned product and screw, nut, and bolt manufacturing industry is being restrained by the rise in power tariffs. Globally, there are movements to increase the use of alternative sources of electric power such as solar, wind, and nuclear power. Initiatives by non-governmental organizations (NGOs), multilateral organizations and many governments to increase the production and use of alternative sources of power and other economic factors cause a rise in overall power tariffs affecting different industries. Rise in the power tariffs increases the production costs, affecting the machine shops, turned product and screw, nut, and bolt manufacturing market.
Rapidly growing urban populations are expected to drive the demand for metal products in the forecast period. A large number of people living in rural areas are migrating to urban areas in search of a better life. This is expected to increase the need for housing and infrastructure. Infrastructure demand is expected to increase significantly in Asian countries such as China, India, Vietnam and the Philippines.
Key Topics Covered:
1. Executive Summary
2. Report Structure
3. Machine Shops, Turned Product, And Screw, Nut, And Bolt Market Characteristics
3.1. Market Definition
3.2. Key Segmentations
4. Machine Shops, Turned Product, And Screw, Nut, And Bolt Market Product Analysis
4.1. Leading Products/ Services
4.2. Key Features and Differentiators
4.3. Development Products
5. Machine Shops, Turned Product, And Screw, Nut, And Bolt Market Supply Chain
5.1. Supply Chain
5.2. Distribution
5.3. End Customers
6. Machine Shops, Turned Product, And Screw, Nut, And Bolt Market Customer Information
6.1. Customer Preferences
6.2. End Use Market Size and Growth
7. Machine Shops, Turned Product, And Screw, Nut, And Bolt Market Trends And Strategies
8. Impact Of COVID-19 On Machine Shops, Turned Product, And Screw, Nut, And Bolt
9. Machine Shops, Turned Product, And Screw, Nut, And Bolt Market Size And Growth
9.1. Market Size
9.2. Historic Market Growth, Value ($ Billion)
9.3. Forecast Market Growth, Value ($ Billion)
10. Machine Shops, Turned Product, And Screw, Nut, And Bolt Market Regional Analysis
10.1. Global Machine Shops, Turned Product, And Screw, Nut, And Bolt Market, 2020, By Region, Value ($ Billion)
10.2. Global Machine Shops, Turned Product, And Screw, Nut, And Bolt Market, 2015-2020, 2020-2025F, 2030F, Historic And Forecast, By Region
10.3. Global Machine Shops, Turned Product, And Screw, Nut, And Bolt Market, Growth And Market Share Comparison, By Region
11. Machine Shops, Turned Product, And Screw, Nut, And Bolt Market Segmentation
11.1. Global Machine Shops, Turned Product, And Screw, Nut, And Bolt Market, Segmentation By Type, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
- Turned Product And Screw, Nut, And Bolt
- Machine Shops
12. Machine Shops, Turned Product, And Screw, Nut, And Bolt Market Segments
12.1. Global Turned Product And Screw, Nut, And Bolt Market, Segmentation By Type, 2015-2020, 2020-2025F, 2030F, Value ($ Billion)
12.2. Global Machine Shops Market, Segmentation By Type, 2015-2020, 2020-2025F, 2030F, Value ($ Billion)
13. Machine Shops, Turned Product, And Screw, Nut, And Bolt Market Metrics
13.1. Machine Shops, Turned Product, And Screw, Nut, And Bolt Market Size, Percentage Of GDP, 2015-2025, Global
13.2. Per Capita Average Machine Shops, Turned Product, And Screw, Nut, And Bolt Market Expenditure, 2015-2025, Global
Companies Mentioned
- Infasco
- Leland Industries
- PCC
- EBC Industries
- EJOT Holding
For more information about this report visit https://www.researchandmarkets.com/r/ntqzdx
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March 18, 2021 at 04:41PM
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Global Machine Shops, Turned Product, Screw, Nut, and Bolt Market Report 2021 Featuring Infasco; Leland Industries; PCC; EBC Industries and EJOT - ResearchAndMarkets.com - Business Wire
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