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Shibuya-ku, Tokyo, Japan, Japan, Feb 02, 2021, 01:58 /Comserve / -- Key Vendors: Barnes Group, NN Inc., Martinrea International, Linamar International, WM Berg, Renishaw Group, ARC Group Worldwide
The global precision parts market is expected to grow at a CAGR of around 12% during the period 2018–2024. The development and usage of new substrate materials, the growing prominence of Asian manufacturing, the increased automation expenditure, and advancements in CNC and milling machinery are some of the prominent factors expected to contribute significantly in the growth of the precision parts market.
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"The Final Report will cover the impact analysis of COVID-19 on this industry (Global And Regional Market)."
Key Vendors
• Barnes Group
• NN Inc.
• Martinrea International
• Linamar International
• WM Berg
• Renishaw Group
• ARC Group Worldwide
Key Vendor Analysis
The precision parts market is highly fragmented with no major vendors having a significant share in the market. They are mainly located near manufacturing hubs to collaborate for the design and development of precision parts. The vendor's selection criteria mainly depend on the access to the raw material and the production line of the manufacturing facility. The market is characterized by vendors that are either application-specific vendors or product-specific vendors or service multiple vendors at any point in time. The precision parts manufacturing market is not known for mergers and acquisitions and is limited to the specific regions.
Precision Parts Market: Segmentation
This market research report includes a detailed segmentation of the market by the end-users and geography. Stringent regulations and technological transformations in the automotive industry are vital factors contributing to the growth of the market. The automotive segments witnessed the largest market share in 2018. While autonomous driving and new mobility solutions are expected to affect traditional vehicle manufacturers, it is seen as an opportunity for precision parts manufacturers. Hence, restructuring agreements between auto component suppliers and automobile manufacturers are expected to affect the growth of the segment.
Further, the growth of the fabrication industry in Taiwan and South East Asia has accelerated the growth of precision parts manufacturing market in APAC. Germany, France, Italy, the UK, and Spain are the significant players in the aerospace precision market. The increased demand for commercial and defense aircraft is driving the precision parts market in the region.
The increased adoption of automation in the manufacturing of watches and the usage of new metal and alloys have significantly contributed to the increased growth of precision parts. The precision parts market by other segments comprises construction, defense, marine and offshoring, heavy equipment, and power tools. The demand for precision products in marine and offshore drilling industry is expected to remain stable over the forecast period.
Table of Content
1 Research Methodology
2 Research Objectives
3 Research Process
4 Scope & Coverage
4.1 Market Definition
4.1.1 Inclusions
4.1.2 Exclusions
4.2 Base Year
4.3 Scope of the study
4.4 Market Segments
4.4.1 Market Segmentation by Application
4.4.2 Market Segmentation by Geography
5 Report Assumptions & Caveats
5.1 Key Caveats
5.2 Currency Conversion
5.3 Market Derivation
The study considers the present scenario of the precision parts market and its market dynamics for the period 2018−2024. The study covers a detailed overview of various market growth enablers, restraints, and trends. It covers both the demand and supply aspect of the market. The study also profiles and examines leading companies and other prominent companies operating in the precision parts market.
Request to Fill The Form To get Sample Copy of This Report: https://www.sdki.jp/sample-request-91520
"The Final Report will cover the impact analysis of COVID-19 on this industry (Global And Regional Market)."
The research report on the precision parts market covers market sizing and forecast, market share, industry trends, growth drivers, and vendor analysis. The market study includes insights on segmentation by end-users (watches, healthcare, aerospace, electronics and semiconductors, automotive, and others) and geography (APAC, Europe, North America, Latin America, and MEA).
Key Market Insights
The report provides the following insights into the precision parts market for the forecast period 2019–2024.
• Offers market sizing and growth prospects of the precision parts market for the forecast period 2019–2024.
• Provides comprehensive insights on the latest industry trends, market forecast, and growth drivers in the precision parts market.
• Includes a detailed analysis of market growth drivers, challenges, and investment opportunities.
• Delivers a complete overview of market segments and the regional outlook of the precision parts market.
• Offers an exhaustive summary of the vendor landscape, competitive analysis, and key market strategies to gain a competitive advantage in the precision parts market.
The dynamic nature of business environment in the current global economy is raising the need amongst business professionals to update themselves with current situations in the market. To cater such needs, Shibuya Data Count provides market research reports to various business professionals across different industry verticals, such as healthcare & pharmaceutical, IT & telecom, chemicals and advanced materials, consumer goods & food, energy & power, manufacturing & construction, industrial automation & equipment and agriculture & allied activities amongst others.
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