Machine Tools Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Machine Tools Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032



Growth Factors of Machine Tools Market

The machine tools market size was valued at USD 111.36 billion in 2023, and the market is now projected to grow from USD 113.26 billion in 2024 to USD 164.92 billion by 2032, exhibiting a CAGR of 5.5% during the forecast period of 2023-2030.

The machine tools market was severely affected in the beginning of the COVID-19 pandemic. Lockdowns, failures in supply chains, and decrease of industrial production have caused reduction of machine tools demand across all segments such as automotive, aerospace and industrial. The majority of projects were delayed or scrapped, affecting the sales and the production. Moreover, the travel restrictions limited global trade as well as foreign investments in the sector.

The machine tools market has been showing continuous growth due to a number of factors such as the technologies improvements, automated tendencies, and the increasing demands for products that came from various sectors of the industry including automotive, space, as well as general manufacturing. Smart manufacturing and Industry 4.0 are at the forefront of the technological revolution driving machine tools market growth. The emphasis is growing on precision engineering and productivity, so the demand for advanced machine tools is also increasing.

The machine tools market is undergoing a number of trends that are caused by the leaps of technology and automation. The growing intelligence, such as IoT and AI, has brought about improvements in efficiency and precision as well as manufacturing processes. Demand for CNC moves ahead in the world due to their variety and precision in various industries. The additive nature of the 3D printing technology which allow an efficient way of printing prototypes and customized parts is one improvement in the manufacturing industry.

Comprehensive Analysis of Machine Tools Market

The machine tools industry is rising at an exponential rate due to its market segmentation. These segmentations are methodically segregated by technology, by product and by distribution channel. Based on application, market is divided into conventional and CNC. Based on product, market is divided into metal cutting and metal forming. Based on application, market is divided into automotive, general machinery, precision machinery, transport machinery, and others.

The Asia Pacific holds leading position in machine tools market share by benefitting a market size of USD 58.83 billion in 2023 due to cutting-edge developments and improvements. Countries like China, Japan, and South Korea are among the large players with their robust manufacturing sectors and the latest technical skills. Amongst the world economies, China produces and consumes the most number of machine tools due to its big industrial base and government programs.

The top players in the market play a crucial role in the healthcare industry assuring industrial prospectus growth and setting market standards. These players include, Yamazaki Mazak Corporation (Japan), Doosan Machine Tools Co., Ltd. (South Korea), Trumpf (Germany), Amada Machine Tools Co., Ltd (Japan), JTEKT Corporation (Japan), MAG IAS GmbH (Germany), Schuler AG (Germany), Makino (Japan), Hyundai WIA (South Korea), Komatsu Ltd. (Japan), Okuma Corporation (Japan), FANUC Corporation (Japan), Haas Automation Inc. (United States), Mitsubishi Heavy Industries Machine Tool Co., Ltd. (Japan). These market players provide a level-playing competitive landscape.

March 2023: Phillips Machine Tools announces a collaboration with JFY International that covers a range of solutions which will expand the range of products for the customers dealing with metal processing.

Segmentation Table

Global Machine Tools Market Scope

Study Period 2017-2028

Base Year 2020

Forecast Period 2021-2028

Historical Period 2017-2019

Unit Value (USD Billion)

Segmentation Technology, Product, Application, Region

By Technology CNC (Computerized Numerical Control)

Conventional

By Product Metal Cutting

Metal Forming

By Application Automotive

General Machinery

Precision Engineering

Transport Machinery

Others (Energy, Electrical and etc.)

By Region North America (By Technology, Product, Application and Country)

- The US (By Application)

- Canada (By Application)

Europe (By Technology, Product, Application and Country)

- Germany (By Application)

- Russia (By Application)

- Italy (By Application)

- Rest of Europe

Asia Pacific (By Technology, Product, Application and Country)

- China (By Application)

- India (By Application)

- Japan (By Application)

- Southeast Asia (By Application)

- Rest of Asia Pacific

The Middle East and Africa (By Technology, Product, Application and Country)

- GCC (By Application)

- South Africa (By Application)

- Rest of the Middle East & Africa

Latin America (By Technology, Product, Application and Country)

- Brazil (By Application)

- Mexico (By Application)

- Rest of Latin America


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1. Introduction
1.1. Definition, By Segment
1.2. Research Methodology/Approach
1.3. Data Sources
2. Executive Summary
3. Market Dynamics
3.1. Macro and Micro Economic Indicators
3.2. Drivers, Restraints, Opportunities and Trends
3.3. Impact of COVID-19
3.3.1. Short-term Impact
3.3.2. Long-term Impact
4. Competition Landscape
4.1. Business Strategies Adopted by Key Players
4.2. Consolidated SWOT Analysis of Key Players
4.3. Porter’s Five Force Analysis
4.4. Global Market Share Analysis and Matrix, 2019
5. Key Market Insights and Analysis, By Segments
6. Global Machine Tools Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2016-2027
6.1. Market Sizing Estimations and Forecasts – By Technology (Value)
6.1.1. Conventional
6.1.2. CNC (Computerized numerical control)
6.2. Market Sizing Estimations and Forecasts – By Product (Value)
6.2.1. Metal Cutting
6.2.2. Metal Forming
6.3. Market Sizing Estimations and Forecasts – By Application (Value)
6.3.1. Automotive
6.3.2. General Machinery
6.3.3. Precision engineering
6.3.4. Transport Machinery
6.3.5. Others
6.4. By Region (Value)
6.4.1. North America
6.4.2. Europe
6.4.3. Asia Pacific
6.4.4. Middle East & Africa
6.4.5. Latin America
7. North America Machine Tools Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2016-2027
7.1. Market Sizing Estimations and Forecasts – By Technology (Value)
7.1.1. Conventional
7.1.2. CNC (Computerized numerical control)
7.2. Market Sizing Estimations and Forecasts – By Product (Value)
7.2.1. Metal Cutting
7.2.2. Metal Forming
7.3. Market Sizing Estimations and Forecasts – By Application (Value)
7.3.1. Automotive
7.3.2. General Machinery
7.3.3. Precision engineering
7.3.4. Transport Machinery
7.3.5. Others
7.4. By Country (Value)
7.4.1. United States
7.4.2. Canada
8. Europe Machine Tools Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2016-2027
8.1. Market Sizing Estimations and Forecasts – By Technology (Value)
8.1.1. Conventional
8.1.2. CNC (Computerized numerical control)
8.2. Market Sizing Estimations and Forecasts – By Product (Value)
8.2.1. Metal Cutting
8.2.2. Metal Forming
8.3. Market Sizing Estimations and Forecasts – By Application (Value)
8.3.1. Automotive
8.3.2. General Machinery
8.3.3. Precision engineering
8.3.4. Transport Machinery
8.3.5. Others
8.4. By Country (Value)
8.4.1. U.K.
8.4.2. Germany
8.4.3. Italy
8.4.4. Russia
8.4.5. Rest of Europe
9. Asia Pacific Machine Tools Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2016-2027
9.1. Market Sizing Estimations and Forecasts – By Technology (Value)
9.1.1. Conventional
9.1.2. CNC (Computerized numerical control)
9.2. Market Sizing Estimations and Forecasts – By Product (Value)
9.2.1. Metal Cutting
9.2.2. Metal Forming
9.3. Market Sizing Estimations and Forecasts – By Application (Value)
9.3.1. Automotive
9.3.2. General Machinery
9.3.3. Precision engineering
9.3.4. Transport Machinery
9.3.5. Others
9.4. By Country (Value)
9.4.1. Japan
9.4.2. China
9.4.3. India
9.4.4. Southeast Asia
9.4.5. Rest of Asia Pacific
10. Middle East & Africa Machine Tools Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2016-2027
10.1. Market Sizing Estimations and Forecasts – By Technology (Value)
10.1.1. Conventional
10.1.2. CNC (Computerized numerical control)
10.2. Market Sizing Estimations and Forecasts – By Product (Value)
10.2.1. Metal Cutting
10.2.2. Metal Forming
10.3. Market Sizing Estimations and Forecasts – By Application (Value)
10.3.1. Automotive
10.3.2. General Machinery
10.3.3. Precision engineering
10.3.4. Transport Machinery
10.3.5. Others
10.4. By Country (Value)
10.4.1. South Africa
10.4.2. GCC
10.4.3. Rest of Middle East and Africa
11. Latin America Machine Tools Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2016-2027
11.1. Market Sizing Estimations and Forecasts – By Technology (Value)
11.1.1. Conventional
11.1.2. CNC (Computerized numerical control)
11.2. Market Sizing Estimations and Forecasts – By Product (Value)
11.2.1. Metal Cutting
11.2.2. Metal Forming
11.3. Market Sizing Estimations and Forecasts – By Application (Value)
11.3.1. Automotive
11.3.2. General Machinery
11.3.3. Precision engineering
11.3.4. Transport Machinery
11.3.5. Others
11.4. By Country (Value)
11.4.1. Brazil
11.4.2. Mexico
11.4.3. Rest of Latin America
12. Profiles of Key Players (Would be provided for 10 players only)
12.1. Overview
12.1.1. Key Management
12.1.2. Headquarters etc.
12.2. Offerings/Business Segments
12.3. Key Details (Key details are subjected to data availability in public domain and/or on paid databases)
12.3.1. Employee Size
12.3.2. Past and Current Revenue
12.3.3. Geographical Share
12.3.4. Business Segment Share
12.4. Recent Developments

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