Shibuya-ku, Tokyo, Japan, Japan, Feb 02, 2021, 06:35 /Comserve / -- Prominent Vendors: Barnes Group Inc., NN Inc., Martinrea International, Linamar International, WM Berg, Renishaw International, ARC Group Worldwide
The precision parts market by revenue is expected to grow at a CAGR of over 10% during the period 2019–2025. The global precision parts market is projected to observe growth on account of the increase in industrial automation and innovation in the healthcare and medical devices industry. The global industrial automation market is growing continuously as the demand for integrated and scalable products is at an all-time high. Industries across the world are witnessing a shift to digitalization in the production line. Factories are no longer run at the surface level, but they need to collect data from different sensors to measure throughput, and systems need to provide analysis in real-time and controls for optimized performance.
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Prominent Vendors
• Barnes Group Inc.
• NN Inc.
• Martinrea International
• Linamar International
• WM Berg
• Renishaw International
• ARC Group Worldwide
INSIGHTS BY VENDORS
The global precision parts market is highly fragmented with no major vendors having a significant share in the market. Vendors are mainly located near the manufacturing hubs to enable collaboration on the design and development of precision parts. A downturn in one of the end-market categories will not impact the overall market as many vendors are not into servicing a single end-market. The market is characterized by vendors that are application-specific, product-specific, or multiple-service vendors at any point in time.
Precision Parts Market Segmentation
The global precision parts market research report includes a detailed segmentation by end-users and geography. Automotive: The increased vehicles demand, especially in emerging markets such as Asia and Africa and the introduction of stringent vehicle regulatory compliance are major factors that are driving the spares and automotive precision components market. This development is increasing the requirement for precision parts engineering facilities to accommodate the high demand. However, the trade spat between the US and China is expected to have an impact on shorter timelines.
Impact of COVID-19: Automobile sales are expected to be volatile due to lockdowns and the implementation of safety measures. The impact of the pandemic is expected to be high on the segment. The supply chain has been disrupted in H1, 2020, hence, a realignment of contracts is expected in the auto industry.
Electronic and Semiconductor: The trade dispute between China and the US has been impacting the semiconductor market as most companies in Taiwan and China cater to US clients. Trade negotiations between the countries have been going on continuously, and the last two years have been dynamic due to tariff wars, and restrictions on technology usage. Sourcing and production have been re-assessed by the electronics and semiconductor industry as it is expected to observe breather in trade concerns between China and the US.
Impact of COVID-19: There exists a high likelihood of supply disruptions in the semiconductor industry till the end of 2020. China is one of the largest players in the semiconductor industry. The precision parts and products requirement is significant; however, the availability of the same has been disrupted since the outbreak of COVID-19 in APAC.
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
4.3.1 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 2019−2025. It covers a detailed overview of several market growth enablers, restraints, and trends. The report offers both the demand and supply aspect of the market. It profiles and examines leading companies and other prominent ones operating in the market.
Request to Fill The Form To get Sample Copy of This Report: https://www.sdki.jp/sample-request-91164
"The Final Report will cover the impact analysis of COVID-19 on this industry (Global And Regional Market)."
Key Questions Answered
1. What is the precision parts market size and growth rate during the forecast period?
2. What are the factors impacting the growth of the precision parts market shares?
3. How is the growth of the automotive segment influencing the growth of the precision parts market?
4. Who are the leading vendors in precision parts market, and what are their market shares?
5. What is the impact of the COVID-19 pandemic on the precision parts market?
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