Machine tools also help in enhancing product uniformity and reducing the amount of human interaction needed at different stages of the process. They perform numerous operations, including cutting, forming, grinding, drilling, abrading, nibbling, etc.
These tools range from small workbench-mounted instruments to large devices that are utilized in modern industries. Machine tools represent power-driven metal forming or cutting equipment used for metals or other hard materials. As per the latest report by IMARC Group, titled “ Machine Tools Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, the global machine tools market to grow at a CAGR of around 4% during 2021-2026.
