Machine Tools Market in Asia Pacific 2023

Machine Tools Market in Asia Pacific 2023

Machine tools are power-driven machines used to shape or form metal or other materials into specific shapes or forms. These machines are used in manufacturing and other industries to produce a wide range of products, from simple tools to complex machinery. According to the latest data, the market size of the machine tools industry in Asia Pacific is expected to rise by USD 10.6 billion with a CAGR of 4.4% by the end of 2029.

This industry report offers market estimates of the Asia Pacific market, followed by a detailed analysis of the product, end user, and country. The Asia Pacific market data on machine tools can be segmented by product: metal cutting tools, metal finishing machines, metal forming machines. In 2022, the metal cutting tools segment made up the largest share of revenue generated by the machine tools market. Machine tools market is further segmented by end user: aerospace and defense, automotive and transportation, electrical and electronics, energy, engineering and construction, others. The engineering and construction segment was the largest contributor to the Asia Pacific machine tools market in 2022. Based on country, the machine tools market is segmented into: China, Indonesia, Japan, Malaysia, Singapore, South Korea, Taiwan, Thailand, Vietnam, others. China is estimated to account for the largest share of the machine tools market in Asia Pacific.

The Asia Pacific machine tools market is highly competitive. The leading players in the machine tools market include Amada Co. Ltd., Colchester Machine Tool Solutions Pty Ltd., DMG Mori Aktiengesellschaft, Heller Machine Tools L.P., JTEKT Corporation, Koike Aronson Inc., Komatsu Limited, Kyowa Machine Co. Ltd., Makino Milling Machine Co. Ltd., Okuma Corporation, Schuler AG, TRUMPF SE + Co. KG, Tungaloy Corporation, Yamazaki Mazak Corporation.

The data-centric report focuses on market trends, status and outlook for segments. With comprehensive market assessment across the major geographies, the report is a valuable asset for the existing players, new entrants and the future investors.

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