Newsroom: Industry News
The machine tools industry is the mainstay of modern manufacturing and contributes significantly to the sector’s growth. The latest global forecast for the machine tools market projects a 5.5 percent annual growth rate through to 2019, and a growth of 6 percent when looking solely at Western Europe. Part of what drives this growth is the sector’s developments in technology. It is expected that as new machine tools with enhanced processing capabilities emerge, they will in turn increase the relative value of new products. With this in mind, machine tools users are increasingly recognizing the need to upgrade in order to keep up with the latest technological developments and remain competitive in the growing market.