What is Automotive Machining Market?
Automotive machining is available in various types such as honing machines, grinding machines, electrical discharge machines and others. Honing, robotic and transfer line automation, grinding, gear manufacturing, five-axis machining, reverse engineering, and prototype are some of the major examples of automotive machining. Rising income and a large young population and greater availability of credit and financing options are some of the major factors which affect the growth of the market.
The market study is being classified by Type (Honing Machines, Grinding Machines, Electrical Discharge Machines and Others) and major geographies with country level break-up.
Bosch (Germany), Panasonic (Japan), Continental (Germany), ThyssenKrupp (Germany), Denso (Japan), ZF Friedrichshafen (Germany), Honeywell International (United States), Mitsubishi Electric (Japan), Magna International (Canada) and Aisin Seiki (Japan) are some of the key players profiled in the study. Additionally, the Vendors which are also part of the research are Sumitomo Electric Industries (Japan), Faurecia (France), Weichai Power (China), Valeo Group (France), HUAYU Automotive Systems (China), Cummins (United States), Eaton (United States), Toyota Industries (Japan) and Schaeffler (Germany).
Research Analyst at AMA predicts that Germany Vendors will contribute to the maximum growth of Global Automotive Machining market throughout the predicted period.
Analyst at AMA have segmented the market study of Global Automotive Machining market by Type, Application and Region.
On the basis of geography, the market of Automotive Machining has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
- Demand for automotive machining has increased, due to the increasing production of passenger vehicles. For instance, according to India Brand Equity Foundation, from 2013 to 2018, domestic passenger vehicle production saw a compounded annual growth rate of more than 4.42%. Therefore, it will drive the automotive machining sensors market.
- Technology Advancement in Automotive Machining
- Some of the major factors such as intense governmental pressure on pollution may act as restrain for market growth.
- Increase in Demand for Autonomous Vehicles
- Demand for Commercial Vehicles Increasing owing to High Level of Activity in Infrastructure Sector
- Advent of Concept Cars and Electric Vehicles in the Automotive Industry
- One of the major issues facing the automotive industry is the environmental change resulting from rising CO2 emissions, which could be challenges for market growth.
As per an article published by India Brand Equity Foundation, in 2019, the Government of India has approved the FAME-II scheme with a fund requirement of USD 1.39 billion for FY20-22. Therefore, it will enhance market growth.
Key Target AudienceAutomotive Machining Companies, Research and Development (R&D) Companies, Research Organization, Federal Agencies and Others
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