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Flourishing Construction and Automotive Sector Drives the Screw Machine Market

Posted on: Oct-2017 | By: MarketNReports | Machinery and Tools

A screw can be the smallest part of the overall machine but its fitment plays a huge role in the infinite number of application. Where ever there is a need for fittings and attachment or parts, screw mechanism is mostly preferred by the design engineers. The making of the screw is carried out on a huge mechanical machine termed as lathe. The screw machine is equipped with various subcomponents that assist the machine while shaping the screw in the desired shape as per the standard drawing and specifications.

The construction activity around the globe, especially in the emerging countries is expected to grow drastically in coming forecast period owing to the growing urbanization and industrialization. It is projected that there will be high growth in the Eastern European Union compared to the other part. Construction activities normally require a large amount of steel casted parts for the construction activities. These steel parts give a strong hold to the applied part and support the overall structure of the construction. Thus, the growing constructional activities will generate a huge demand for screw machine products, which will indirectly augment the demand for Srew machines in the market.

The automobile sector is the largest demand generator for various parts and accessories. A car is completed only when thousand of crucial components are assembled together. The automotive sector is presently witnessing great opportunities owing to the rising trade activities and growing number of deals among the countries. In addition, declines in fuel prices, reduced interest rates are some of the key factors responsible for the growth of the automotive market. Automotive is the largest direct or indirect end user of screw machine. A majority of the car parts are made up of metal and screw machine plays a major role in the production of various types of thread components. However, growing automobile sector and growing sale for vehicles will indirectly impact on the growth of the global screw machine market.

Development of self-clinching fasteners has effectively reduced the requirement of hardware such as loose washers, nuts, and lock washers. Hence the development of high standard materials and equipment has motivated the growth of the global screw machine market.