Machine Tooling Market Segment Analysis – By Geography
APAC accounted for the largest share of the Machine tool market. The significant demand from automotive and aerospace sector in China, India and South-East Asia, in particular, is driving market growth. Geographically, RoW (Middle East and Africa) region is anticipated to witness the significant market growth during the forecast period 2021-2026 with a CAGR of 5.22%. The market growth is due to the rising demand of the CNC machine tools from the end-users including automobile, food & beverage, aerospace, construction and others. Growing automotive production primarily in Kuwait, Jordan, and others is projected to boost the market growth. Israel is home to robust mining and manufacturing sector. The country’s manufacturing sector is booming with effective diamond cutting/polishing technologies, aviation and space products, and food processing. These provide promising growth prospects for the machine tool market in the country