Global Machine Tools Market by Product Type (Milling Machines, Turning Machines, Grinding Machines, EDM), Automation Type (CNC and Conventional), End-User Industry (Automotive, Capital Goods), Sales Channel and Region - Global Forecast to 2030

Global Machine Tools Market by Product Type (Milling Machines, Turning Machines, Grinding Machines, EDM), Automation Type (CNC and Conventional), End-User Industry (Automotive, Capital Goods), Sales Channel and Region - Global Forecast to 2030

The global machine tools market is projected tgrow from USD 78.6 Billion in 2023 tUSD 104.7 Billion by 2030, registering a CAGR of 4.2%. As the global population grows and living standards improve, the demand for manufactured goods is expected trise. This will, in turn, drive the demand for machine tools, which are essential for producing these goods. Machine tools are alsbecoming increasingly sophisticated, with new technologies such as artificial intelligence and additive manufacturing being incorporated inttheir design. These advancements are making machine tools more efficient, productive, and versatile, which is driving their demand. In an effort tboost productivity and reduce costs, manufacturers are increasingly turning tautomation. Innovations like CNC (Computer Numerical Control) and Industry 4.0 integration have transformed machine tools, enhancing precision, automation, and efficiency.

“By Sales channel, Dealers and distributors segment hold the largest market share.”

By sales channel, the dealers and distributors segment is expected tlead the market during the forecast period. Dealers and distributors typically have established networks and reach across various regions, allowing them tdistribute machine tools ta larger customer base effectively. Dealers and distributors often provide technical expertise, support, and after-sales services, which can be crucial in the machine tools industry, where proper installation, training, and maintenance are essential for optimal performance. Additionally, many manufacturers rely on dealers and distributors trepresent their brands and promote their products in specific regions or markets, leveraging these intermediaries' local knowledge and relationships. Overall, the dealers and distributor segment is estimated thold the largest share of the machine tools market during the forecast period due tits ability tefficiently distribute products, provide value-added services, and leverage existing customer relationships and market knowledge.

“Capital goods hold the prominent share in the end-user industry segment.”

Capital goods are tangible assets used in manufacturing other finished products, such as machine tools, industrial machinery, plant equipment, construction and mining equipment, electrical equipment, textile machinery, and printing and packaging machinery. 3D printing technology is the latest trend expected timpact the capital goods industry.

In the capital goods industry, CNC technology provides benefits such as speed, accuracy, increased production, smoother movements, increased consistency, higher efficiency, automation integration, rapid reaction, elimination of hazards, and troubleshooting. Moreover, the expansion of industrialization and economic development catalyzes the machine tools market by increasing the demand for advanced manufacturing technology. As industries evolve, the demand for machinery and equipment alsincreases, making machines vital in this ever-changing landscape. The advantages of this growth include enhanced productivity that leads tincreased output and reduced downtime, improved precision and quality through high-precision machining, and cost efficiency by minimizing material waste and labor costs.

“Europe tbe the second largest growing market for machine tools during the forecast period.”

The European market is estimated taccount for the second-largest global machine tools market share in 2023. This is due tthe region’s strong manufacturing heritage, the presence of the major automotive companies, and consistent technological advancements in the manufacturing sector. Europe is an essential market for advanced technologies. It offers significant opportunities in the market as there is an increase in the adoption of advanced manufacturing technologies such as CNC machines. Europe has several well-established machine tool manufacturers, including companies such as GF Machining Solutions Management SA (Switzerland), CHIRON Group SE (Germany), EMAG GmbH & Co. KG (Germany), MAG IAS GmbH (Germany), GROB-WERKE GmbH & Co. KG (Germany), and others. These companies produce various machine tools, from milling and turning machines tlaser cutting. In addition, Europe is home tmajor companies offering CNC controllers, such as Siemens (Germany), Bosch Rexroth AG (Germany), Fagor Automation (Spain), and NUM AG (Switzerland). These companies offer technologically upgraded CNC solutions tsupport machine tools market growth.

In-depth interviews were conducted with CEOs, marketing directors, other innovation and technology directors, and executives from various key organizations operating in this market.

By Company Type: Machine Tool Manufacturers – 60%, Machine Tool Component Manufacturers – 20%, Tier I– 20%,

By Designation: C Level – 60%, D Level– 10%, Others– 30%

By Region: North America – 20%, Europe – 30%, Asia Pacific– 40%, Rest of the World – 10%

The machine tools market is dominated by established players such as MakinInc. (Japan), JTEKT Corporation (Japan), Okuma Corporation (Japan), DMG MORI Co., Ltd. (Japan), and DN Solutions (South Korea). These companies manufacture machine tools and develop new technologies. These companies have set up R&D facilities and offer best-in-class products ttheir customers.

Research Coverage:

The Market Study Covers the Machine Tools Market By Product Type (Milling Machine, Turning Machine, Drilling Machine, Grinding Machine and Electrical Discharge Machine), By Automation (CNC Machine Tools and Conventional Machine Tools), By Sales Channel (Events and Exhibitions, Dealers and Distributors, and Direct Sales), By End-User Indsutry (automotive and transportation, aerospace, medical, semiconductor, sheet metals, energy and power, capital goods, and others) and By Region (North America, Europe, Asia Pacific, and the Rest of the World). It alscovers the competitive landscape and company profiles of the major players in the Machine Tools market ecosystem.

Key Benefits of the Report

The study alsincludes an in-depth competitive analysis of the key players in the market, along with their company profiles, key observations related tproduct and business offerings, recent developments, and key market strategies.

The report will help the market leaders/new entrants with information on the closest approximations of the revenue numbers for the overall machine tools market and the subsegments. This report will help stakeholders understand the competitive landscape and gain more insights tposition their businesses better and plan suitable go-to-market strategies. The report alshelps stakeholders understand the market pulse and provides information on key market drivers, restraints, challenges, and opportunities.

The report provides insights on the following pointers:

Analysis of key drivers (Rising adoption of manufactured goods, Increasing demand for precision and efficiency, Increase in automobile production, Growing focus on automation), restraints (High initial investment costs, Rising popularity of electric vehicles), opportunities (Industry 4.0 and digitization, Increasing adoption of CNC technology, Rising implementation of adaptive machining), and challenges (Absence of standardization in industrial communication protocols and interfaces, Lack of skilled workforce toperate automated machine tools) influencing the growth of the machine tools market.

Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product launches in the machine tools market

Market Development: Comprehensive information about lucrative markets – the report analyses the machine tools market across varied regions

Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the machine tools market

Competitive Assessment: In-depth assessment of market shares, growth strategies and service offerings of leading players like MakinInc. (Japan), JTEKT Corporation (Japan), Okuma Corporation (Japan), DMG MORI Co., Ltd. (Japan), DN Solutions (South Korea) and among others in the machine tools market Page 25 of 34 strategies. The report alshelps stakeholders understand the pulse of the CNC Machine market and provides them with information on key market drivers, restraints, challenges, and opportunities.