The Global Machine Tools Market, valued at USD 87.93 billion in 2022, is on a trajectory set to reach an impressive USD 138.0 billion by 2030, boasting a robust Compound Annual Growth Rate (CAGR) of 5.8% during the forecast period from 2023 to 2030.

This surge in market value is attributed to transformative technological advancements, such as the integration of multi-axis arms and robots, coupled with the expansive growth of the industrial sector. As industries evolve to embrace cutting-edge tools and automation, the demand for machine tools has experienced a substantial upswing.

The pivotal role played by machine tools in enhancing productivity and minimizing downtime has been a driving force behind the market's expansion. Industries worldwide are recognizing the need for efficiency and precision in manufacturing processes, further propelling the adoption of advanced machine tools.

A noteworthy catalyst for the market's growth is the thriving North American electric vehicle sector. With renowned automakers like General Motors, Nissan, Tesla, and Ford leading the charge, coupled with a well-established infrastructure for electric vehicle production and high disposable income, the region is poised for significant expansion. This burgeoning electric vehicle market, in tandem with an increasing demand for automotive components, is anticipated to fuel the demand for machine tools in North America.

The versatility of machine tools is evident in their application across various sectors and industry verticals, including aerospace and automotive. These tools play a pivotal role in swiftly and precisely manufacturing a diverse array of components while maintaining the flexibility required by these dynamic industries. Notably, in the aerospace sector, CNC machine tools are instrumental in producing lightweight, precisely toleranced parts, such as landing gears, turbines, wheels, fuel access panels, and engine mounts.

As the global industrial landscape continues to evolve, the machine tools market stands at the forefront, providing indispensable solutions for enhanced manufacturing capabilities across diverse sectors. The trajectory of this market underscores its integral role in shaping the future of precision engineering and manufacturing.

Key Players

The major key players are, Amada Machine Tools Co., Ltd., CHIRON GROUP SE,  DMG MORI. CO., LTD., DN Solutions, Georg Fischer Ltd., HYUNDAI WIA CORP, JTEKT Corporation, Komatsu Ltd, Makino, Okuma Corporation, Hurco Companies, Inc., and others.

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KEY MARKET SEGMENTATION

- Type

  • Metal Cutting
  • Machining Centers
  • Turning Machines
  • Grinding Machines
  • Milling Machines
  • Eroding machines
  • Others
  • Metal Forming
  • Bending Machines
  • Presses
  • Punching Machines
  • Others

- Technology

  • Computer Numerical Control (CNC)
  • Conventional

- End-use

  • Automotive
  • Mechanical Engineering
  • Metal Working
  • Aerospace
  • Electrical Industry
  • Others

DRIVER

Global Manufacturing Expansion: The expanding manufacturing sectors, particularly in emerging economies, are fueling a rising demand for machine tools. These tools play a crucial role in facilitating production and precise machining as manufacturing operations continue to grow.

Demand for Customization: To meet the evolving preferences of consumers and the demand for a diverse array of products, manufacturers require highly versatile and adaptable machine tools. The ability to customize and adapt to changing consumer tastes becomes a crucial driver in the machine tools industry.

Growing Markets for Aerospace and Automotive: The flourishing aerospace and automotive sectors are contributing to an increased need for sophisticated machine tools. These tools play a vital role in the creation of intricate and highly precise components, aligning with the demands of these rapidly growing industries.

OPPORTUNITY

Developments in Cutting Technology: Ongoing advancements in cutting and machining technology present a significant opportunity for manufacturers. Embracing these developments can enhance both output and quality, providing a competitive edge in the market.

Customization and Adaptability: The ability to offer machine tools that are configurable and adaptable to specific industry demands presents a substantial market opportunity. Meeting the unique requirements of different industries through customizable solutions can be a key driver of success.

Market Expansion in Emerging Economies: With increased engagement in manufacturing and infrastructure development, emerging economies offer a promising opportunity for market expansion. Tapping into these growing markets can lead to significant growth prospects for manufacturers of machine tools.

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Table of Contents

Table of Contents

1. Introduction

1.1 Market Definition

1.2 Scope

1.3 Research Assumptions

2. Research Methodology

3. Market Dynamics

3.1 Drivers

3.2 Restraints

3.3 Opportunities

3.4 Challenges 

4. Impact Analysis

4.1 Impact of the Ukraine- Russia War

4.2 Impact of Ongoing Recession

5. Value Chain Analysis

6. Porter’s 5 forces model

7. PEST Analysis

8. Machine Tools Market, By Type

8.1 Metal Cutting

8.1.1 Machining Centers

8.1.2 Turning Machines

8.1.3 Grinding Machines

8.1.4 Milling Machines

8.1.5 Eroding machines

8.1.6 Others

8.2 Metal Forming

8.2.1 Bending Machines

8.2.2 Presses

8.2.3 Punching Machines

8.2.4 Others

9. Machine Tools Market, By Technology

9.1 Computer Numerical Control (CNC)

9.2 Conventional

10. Machine Tools Market, By End-use

10.1 Automotive

10.2 Mechanical Engineering

10.3 Metal Working

10.4 Aerospace

10.5 Electrical Industry

10.6 Others

11. Regional Analysis

....

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