Global Precision Engineering Machines Market Size study & Forecast, by End-use (Automotive, Non-Automotive), and Regional Analysis, 2023-2030

Global Precision Engineering Machines Market Size study & Forecast, by End-use (Automotive, Non-Automotive), and Regional Analysis, 2023-2030

Global Precision Engineering Machines Market is valued approximately USD 13.07 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 6.5% over the forecast period 2023-2030. The precision engineering machines market refers to the industry involved in the manufacturing, design, and distribution of machines and equipment used for precise and accurate engineering processes. These machines are utilized across various industries, including automotive, aerospace, electronics, medical devices, and more, where precision and high-quality components are required. The major driving factors for the Global Precision Engineering Machines Market are increasing demand for high-precision components and growing automotive and aerospace industries. Moreover, Shift towards Industry 4.0 and automation and Technological advancements is creating lucrative growth opportunities for the market over the forecast period 2023-2030.

The market growth in the manufacturing industry is being driven by the increasing focus on addressing quality-related issues. These issues can have a significant impact on manufacturers, leading to increased costs and reduced customer satisfaction. According to the American Society for Quality, quality-related problems can account for 15-20% of a manufacturer's sales revenue, and in extreme cases, this percentage can rise as high as 40%. According to the International Trade Administration, the aerospace production sector has been experiencing growth. For instance, in Canada, the total aerospace production increased from 21,999 units in 2018 to 25,828 units in 2019. This indicates a positive trend in the aerospace industry, showcasing an expansion in manufacturing activities related to aerospace products. However, the high cost of Precision Engineering Machines stifles market growth throughout the forecast period of 2023-2030.

The key regions considered for the Global Precision Engineering Machines Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America has a dominating share in the precision engineering machines market. The region is characterized by advanced manufacturing industries, technological advancements, and a strong focus on research and development. The presence of major players and the adoption of automation and advanced manufacturing techniques drive the market growth in this region. Asia Pacific is witnessing rapid growth in the precision engineering machines market. The region is a hub for manufacturing and industrial activities, with countries like China, Japan, South Korea, and India being major contributors. The presence of a large customer base, expanding industrial infrastructure, and increasing investments in advanced manufacturing technologies drive the market growth in this region. Additionally, the growing focus on automation and industry 4.0 initiatives further propel the demand for precision engineering machines.

Major market player included in this report are:
Amada Machine Tools Co., Ltd.
Amera-Seiki
DATRON AG
Dalian Machine Tool Group (DMTG) Corporation
DMG Mori Co., Ltd.
FANUC Corporation
Haas Automation, Inc.
Hurco Companies, Inc.
Okuma Corporation
Shenyang Machine Tool Co., Ltd.

Recent Developments in the Market:
DMG MORI introduced the DMP 35 in June 2021, a compact and high-speed machining center offering five-axis options and mild automation. This product release aimed to provide customers with advanced features and capabilities. The DMP 35 includes a tool magazine with 15 slots, accommodating tools up to 150 mm long. It also incorporates direct absolute path measuring devices in all axes, ensuring precise and accurate machining operations.

Global Precision Engineering Machines Market Report Scope:
Historical Data – 2020 - 2021
Base Year for Estimation – 2022
Forecast period - 2023-2030
Report Coverage - Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered - End-use, Region
Regional Scope - North America; Europe; Asia Pacific; Latin America; Middle East & Africa

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.

The detailed segments and sub-segment of the market are explained below:

By End-use:
Automotive
Non-Automotive

By Region:

North America
U.S.
Canada

Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC

Latin America
Brazil
Mexico

Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

Companies Mentioned
Amada Machine Tools Co., Ltd.
Amera-Seiki
DATRON AG
Dalian Machine Tool Group (DMTG) Corporation
DMG Mori Co., Ltd.
FANUC Corporation
Haas Automation, Inc.
Hurco Companies, Inc.
Okuma Corporation
Shenyang Machine Tool Co., Ltd.

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