Date: 2013-08-01

Expanding Manufacturing Base in Developing Countries Drives Demand for Machine Tools, According to New Report by Global Industry Analysts, Inc.

GIA announces the release of a comprehensive global report on Machine Tools markets. World Machine Tools market is projected to reach US$154 billion by 2018, driven by the growth of the manufacturing industry in developing countries, and technology developments.

Essentially capital goods installed in factory floors, machine tools have been key enablers of the industrial revolution. As tools designed to mold, cut, shape and fabricate manufactured products, machine tools wield a major impact on productivity in the manufacturing industry. From turning, boring, milling, grinding, drilling, tapping, forming, casting, cutting to other more complex tasks, machine tools are indispensable in a wide gamut of industries ranging from automotive, aerospace to medical. The manufacturing industry is therefore a critical driver of growth, with the shifting role of manufacturing and its level of contribution to economic development impacting growth patterns in the market. From generating employment to supporting a nation

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