COVID-19 impact on metal machining: report by Technavio
Published by Elizabeth Corner,
Senior Editor
World Pipelines,
Technavio has been monitoring the metal machining market and it is poised to grow by USD 14.76 billion during 2020 - 2024, progressing at a CAGR of 4% during the forecast period.
The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.
Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19.
The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. AMADA HOLDINGS Co. Ltd., Atlas Copco AB, Colfax Corp., DMG MORI Global Marketing GmbH, FANUC Corp., Messer Cutting Systems Inc., Okuma Corp., Sandvik AB, Shenyang Machine Tools Co. Ltd., and TRUMPF GmbH + Co. KG are some of the major market participants.
To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
Demand from the oil and gas sector has been instrumental in driving the growth of the market.
Read the article online at: https://www.worldpipelines.com/business-news/12062020/covid-19-impact-on-metal-machining-report-by-technavio/
You might also like
The World Pipelines Podcast - GERG and the future of Europe's gas pipelines
A conversation about the role of GERG in European gas pipeline innovation, research, and decarbonisation strategy. Featuring Alexandra Kostereva, Operations Manager at GERG (European Gas Research Group).
Tune in to the World Pipelines Podcast on your favourite podcast app today.
