What is Machine Tools sector?
The machine tool sector refers to the industry that designs, manufactures, sells, and services machine tools and related equipment, such as cutting tools, measuring instruments, and accessories. Machine tools are specialized equipment that are used to shape and form metal, wood, and other materials into specific parts and components.
The machine tool sector is divided into several sub-segments, based on the types of machine tools and their applications. These include:
- Metal cutting tools: machines that are used to cut, shape, and form metal, such as lathes, milling machines, and drill presses
- Metal forming tools: machines that are used to shape and form metal, such as presses and stamping machines
- Grinding machines: machines that are used to remove material from a workpiece to create a smooth, precise surface finish
- Other specialized machine tools: machines that are used for specific applications, such as EDM (electrical discharge machining), WEDM (wire electrical discharge machining), and water jet cutting machines
The machine tool sector is a major contributor to the economy of many countries, and it is a significant source of employment for skilled workers. The sector is also important for other industries such as automotive, aerospace, construction, and manufacturing because machine tools are used to produce precision parts and components.
Machine tools are increasingly becoming automated and computer-controlled, which allows for higher precision and efficiency in production, and also facilitates in producing more complex shapes and geometries. The Machine tool sector is constantly evolving, requiring companies to adapt and innovate to remain competitive.