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Machine Tools Market

Global Machine Tools Market Size, Share, Trends, Forecast: By Tool Type: Metal Cutting, Metal Forming, Accessories; By Technology Type: Conventional, CNC; By End Use: Automotive, Aerospace and Defence, Electrical and Electronics, Consumer Goods, Precision Engineering, Others; Regional Analysis; Competitive Landscape; 2024-2032

Global Machine Tools Market Outlook

The global machine tools market size reached a value of almost USD 134.91 billion in the year 2023. The industry is further expected to grow at a CAGR of 5.4% between 2024 and 2032 to reach a value of almost USD 216.34 billion by 2032.

 

Global Machine Tools Market

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The global machine tools market is driven by automated and high-precision equipment. The Asia Pacific region is the leading regional market in the industry globally. A major trend driving the industry includes the growing automation of tasks varying from material handling to tool changing. The emphasis has also shifted toward the creation of interconnected systems and user-friendly software that facilitate users to include additional characteristics and specifications in the final product.

 

Properties and Applications

Machine tools are the stationary, power-driven equipment used for cutting or forming metals or any other hard materials. They usually shape the workpiece by eliminating the extra material and help in performing operations like drilling, abrading, grinding, and nibbling. The advanced and modern machine tools are numerically, or computer-controlled, which improves the product uniformity and decreases the human interaction required in the process. At present, an extensive range of the product are present in the market, extending from small workbench mounted instruments to large devices.

 

Machine Tools Market by End Use

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The market is segmented on the basis of tool type into:

  • Metal Cutting
  • Metal Forming
  • Accessories

At present, metal cutting tools are the leading segment within the market.

On the basis of technology type, the market is bifurcated into:

  • Conventional
  • CNC

Out of these, CNC exhibits the most preferred technology.

On the basis of end-use industry, the market is divided into:

  • Automotive
  • Aerospace and Defence
  • Electrical and Electronics
  • Consumer Goods
  • Precision Engineering
  • Others

Among these, the automotive sector holds the majority of the total market share.

The report also covers the regional markets of the product like North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

 

Machine Tools Market by Region

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Market Analysis 

The global machine tools market is driven by the extensive applications of the product within industries such as automotive, electronics, aerospace, and precision engineering. This can be ascribed to the fact that machine tools are used in the manufacturing of durable goods and other machines. The market is further aided by the rapid development in these industries. Further, the initiation of advanced processes such as ultrasonics, high-pressure water jets, lasers, and plasma streams in machine tool applications has helped in increasing the speed and precision of the machining process. In addition to this, consumers are shifting toward automated higher-end technologies with improved performance, accuracy, and stability. These factors are expected to influence the market growth positively.

 

Competitive Landscape 

The report gives a detailed analysis of the following key players in the global machine tools market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

  • Allied Machine & Engineering Corp. 
  • General Technology Group Dalian Machine Tool Corporation  
  • DMG MORI
  • Falcon Machine Tools Co., Ltd.  
  • AMADA Co., Ltd.
  • Mazak Corporation
  • TRUMPF
  • Doosan Machine Tools, Co. Ltd.
  • Okuma America Corporation
  • Others

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. 

 

Key Highlights of the Report

REPORT FEATURES DETAILS
Base Year 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:

  • Tool Type
  • Technology Type
  • End Use
  • Region
Breakup by Tool Type
  • Metal Cutting
  • Metal Forming
  • Accessories
Breakup by Technology Type
  • Conventional
  • CNC
Breakup by End Use
  • Automotive
  • Aerospace and Defence
  • Electrical and Electronics
  • Consumer Goods
  • Precision Engineering
  • Others
Breakup by Region
  • North America
    • United States of America 
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Australia
    • Others
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • United Arab Emirates
    • Nigeria
    • South Africa
    • Others
Market Dynamics
  • SWOT Analysis
  • Porter's Five Forces Analysis
  • Key Indicators for Demand
  • Key Indicators for Price
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • Allied Machine & Engineering Corp. 
  • General Technology Group Dalian Machine Tool Corporation  
  • DMG MORI
  • Falcon Machine Tools Co., Ltd.  
  • AMADA Co., Ltd.
  • Mazak Corporation
  • TRUMPF
  • Doosan Machine Tools, Co. Ltd.
  • Okuma America Corporation
  • Others
Report Price and Purchase Option Explore our purchase options that are best suited to your resources and industry needs.
Delivery Format Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option.

 

*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.

1    Preface
2    Report Coverage – Key Segmentation and Scope
3    Report Description

    3.1    Market Definition and Outlook
    3.2    Properties and Applications
    3.3    Market Analysis
    3.4    Key Players
4    Key Assumptions
5    Executive Summary

    5.1    Overview
    5.2    Key Drivers
    5.3    Key Developments
    5.4    Competitive Structure
    5.5    Key Industrial Trends
6    Snapshot
    6.1    Global
    6.2    Regional
7    Opportunities and Challenges in the Market
8    Global Machine Tools Market Analysis

    8.1    Key Industry Highlights
    8.2    Global Machine Tools Historical Market (2018-2023) 
    8.3    Global Machine Tools Market Forecast (2024-2032)
    8.4    Global Machine Tools Market by Tool Type
        8.4.1    Metal Cutting  
            8.4.1.1    Historical Trend (2018-2023)
            8.4.1.2    Forecast Trend (2024-2032)
        8.4.2    Metal Forming 
            8.4.2.1    Historical Trend (2018-2023)
            8.4.2.2    Forecast Trend (2024-2032)
        8.4.3    Accessories 
            8.4.3.1    Historical Trend (2018-2023)
            8.4.3.2    Forecast Trend (2024-2032)
    8.5    Global Machine Tools Market by Technology Type
        8.5.1    Conventional   
            8.5.1.1    Historical Trend (2018-2023)
            8.5.1.2    Forecast Trend (2024-2032)
        8.5.2    CNC  
            8.5.2.1    Historical Trend (2018-2023)
            8.5.2.2    Forecast Trend (2024-2032)
    8.6    Global Machine Tools Market by End Use 
        8.6.1    Automotive  
            8.6.1.1    Historical Trend (2018-2023)
            8.6.1.2    Forecast Trend (2024-2032)
        8.6.2    Aerospace and Defence  
            8.6.2.1    Historical Trend (2018-2023)
            8.6.2.2    Forecast Trend (2024-2032)
        8.6.3    Electrical and Electronics  
            8.6.3.1    Historical Trend (2018-2023)
            8.6.3.2    Forecast Trend (2024-2032)
        8.6.4    Consumer Goods   
            8.6.4.1    Historical Trend (2018-2023)
            8.6.4.2    Forecast Trend (2024-2032)
        8.6.5    Precision Engineering   
            8.6.5.1    Historical Trend (2018-2023)
            8.6.5.2    Forecast Trend (2024-2032)
        8.6.6    Others 
    8.7    Global Machine Tools Market by Region
        8.7.1    North America
            8.7.1.1    Historical Trend (2018-2023)
            8.7.1.2    Forecast Trend (2024-2032)
        8.7.2    Europe
            8.7.2.1    Historical Trend (2018-2023)
            8.7.2.2    Forecast Trend (2024-2032)
        8.7.3    Asia Pacific
            8.7.3.1    Historical Trend (2018-2023)
            8.7.3.2    Forecast Trend (2024-2032)
        8.7.4    Latin America
            8.7.4.1    Historical Trend (2018-2023)
            8.7.4.2    Forecast Trend (2024-2032)
        8.7.5    Middle East and Africa
            8.7.5.1    Historical Trend (2018-2023)
            8.7.5.2    Forecast Trend (2024-2032)
9    North America Machine Tools Market Analysis
    9.1    United States of America
        9.1.1    Historical Trend (2018-2023)
        9.1.2    Forecast Trend (2024-2032)
    9.2    Canada
        9.2.1    Historical Trend (2018-2023)
        9.2.2    Forecast Trend (2024-2032)
10    Europe Machine Tools Market Analysis
    10.1    United Kingdom
        10.1.1    Historical Trend (2018-2023)
        10.1.2    Forecast Trend (2024-2032)
    10.2    Germany
        10.2.1    Historical Trend (2018-2023)
        10.2.2    Forecast Trend (2024-2032)
    10.3    France
        10.3.1    Historical Trend (2018-2023)
        10.3.2    Forecast Trend (2024-2032)
    10.4    Italy
        10.4.1    Historical Trend (2018-2023)
        10.4.2    Forecast Trend (2024-2032)
    10.5    Others
11    Asia Pacific Machine Tools Market Analysis
    11.1    China
        11.1.1    Historical Trend (2018-2023)
        11.1.2    Forecast Trend (2024-2032)
    11.2    Japan
        11.2.1    Historical Trend (2018-2023)
        11.2.2    Forecast Trend (2024-2032)
    11.3    India
        11.3.1    Historical Trend (2018-2023)
        11.3.2    Forecast Trend (2024-2032)
    11.4    ASEAN
        11.4.1    Historical Trend (2018-2023)
        11.4.2    Forecast Trend (2024-2032)
    11.5    Australia
        11.5.1    Historical Trend (2018-2023)
        11.5.2    Forecast Trend (2024-2032)
    11.6    Others
12    Latin America Machine Tools Market Analysis
    12.1    Brazil
        12.1.1    Historical Trend (2018-2023)
        12.1.2    Forecast Trend (2024-2032)
    12.2    Argentina
        12.2.1    Historical Trend (2018-2023)
        12.2.2    Forecast Trend (2024-2032)
    12.3    Mexico
        12.3.1    Historical Trend (2018-2023)
        12.3.2    Forecast Trend (2024-2032)
    12.4    Others
13    Middle East and Africa Machine Tools Market Analysis
    13.1    Saudi Arabia
        13.1.1    Historical Trend (2018-2023)
        13.1.2    Forecast Trend (2024-2032)
    13.2    United Arab Emirates
        13.2.1    Historical Trend (2018-2023)
        13.2.2    Forecast Trend (2024-2032)
    13.3    Nigeria
        13.3.1    Historical Trend (2018-2023)
        13.3.2    Forecast Trend (2024-2032)
    13.4    South Africa
        13.4.1    Historical Trend (2018-2023)
        13.4.2    Forecast Trend (2024-2032)
    13.5    Others
14    Market Dynamics
    14.1    SWOT Analysis
        14.1.1    Strengths
        14.1.2    Weaknesses
        14.1.3    Opportunities
        14.1.4    Threats
    14.2    Porter’s Five Forces Analysis
        14.2.1    Supplier’s Power
        14.2.2    Buyer’s Power
        14.2.3    Threat of New Entrants
        14.2.4    Degree of Rivalry
        14.2.5    Threat of Substitutes
    14.3    Key Indicators for Demand
    14.4    Key Indicators for Price
15    Value Chain Analysis
16    Competitive Landscape

    16.1    Market Structure
    16.2    Company Profiles
        16.2.1    Allied Machine & Engineering Corp.
            16.2.1.1    Company Overview
            16.2.1.2    Product Portfolio
            16.2.1.3    Demographic Reach and Achievements
            16.2.1.4    Certifications
        16.2.2    General Technology Group Dalian Machine Tool Corporation
            16.2.2.1    Company Overview
            16.2.2.2    Product Portfolio
            16.2.2.3    Demographic Reach and Achievements
            16.2.2.4    Certifications
        16.2.3    DMG MORI
            16.2.3.1    Company Overview
            16.2.3.2    Product Portfolio
            16.2.3.3    Demographic Reach and Achievements
            16.2.3.4    Certifications
        16.2.4    Falcon Machine Tools Co., Ltd.
            16.2.4.1    Company Overview
            16.2.4.2    Product Portfolio
            16.2.4.3    Demographic Reach and Achievements
            16.2.4.4    Certifications
        16.2.5    AMADA Co., Ltd.
            16.2.5.1    Company Overview
            16.2.5.2    Product Portfolio
            16.2.5.3    Demographic Reach and Achievements
            16.2.5.4    Certifications
        16.2.6    Mazak Corporation
            16.2.6.1    Company Overview
            16.2.6.2    Product Portfolio
            16.2.6.3    Demographic Reach and Achievements
            16.2.6.4    Certifications
        16.2.7    TRUMPF
            16.2.7.1    Company Overview
            16.2.7.2    Product Portfolio
            16.2.7.3    Demographic Reach and Achievements
            16.2.7.4    Certifications
        16.2.8    Doosan Machine Tools, Co. Ltd.
            16.2.8.1    Company Overview
            16.2.8.2    Product Portfolio
            16.2.8.3    Demographic Reach and Achievements
            16.2.8.4    Certifications
        16.2.9    Okuma America Corporation
            16.2.9.1    Company Overview
            16.2.9.2    Product Portfolio
            16.2.9.3    Demographic Reach and Achievements
            16.2.9.4    Certifications
        16.2.10    Others
17    Key Trends and Developments in the Market

 

List of Key Figures and Tables

1.    Global Machine Tools Market: Key Industry Highlights, 2018 and 2032
2.    Global Machine Tools Historical Market: Breakup by Tool Type (USD Billion), 2018-2023
3.    Global Machine Tools Market Forecast: Breakup by Tool Type (USD Billion), 2024-2032
4.    Global Machine Tools Historical Market: Breakup by Technology Type (USD Billion), 2018-2023
5.    Global Machine Tools Market Forecast: Breakup by Technology Type (USD Billion), 2024-2032
6.    Global Machine Tools Historical Market: Breakup by End Use (USD Billion), 2018-2023
7.    Global Machine Tools Market Forecast: Breakup by End Use (USD Billion), 2024-2032
8.    Global Machine Tools Historical Market: Breakup by Region (USD Billion), 2018-2023
9.    Global Machine Tools Market Forecast: Breakup by Region (USD Billion), 2024-2032
10.    North America Machine Tools Historical Market: Breakup by Country (USD Billion), 2018-2023
11.    North America Machine Tools Market Forecast: Breakup by Country (USD Billion), 2024-2032
12.    Europe Machine Tools Historical Market: Breakup by Country (USD Billion), 2018-2023
13.    Europe Machine Tools Market Forecast: Breakup by Country (USD Billion), 2024-2032
14.    Asia Pacific Machine Tools Historical Market: Breakup by Country (USD Billion), 2018-2023
15.    Asia Pacific Machine Tools Market Forecast: Breakup by Country (USD Billion), 2024-2032
16.    Latin America Machine Tools Historical Market: Breakup by Country (USD Billion), 2018-2023
17.    Latin America Machine Tools Market Forecast: Breakup by Country (USD Billion), 2024-2032
18.    Middle East and Africa Machine Tools Historical Market: Breakup by Country (USD Billion), 2018-2023
19.    Middle East and Africa Machine Tools Market Forecast: Breakup by Country (USD Billion), 2024-2032
20.    Global Machine Tools Market Structure

Key Questions Answered in the Report

In 2023, the global machine tools market attained a value of nearly USD 134.91 billion.

The market is projected to grow at a CAGR of 5.40% between 2024 and 2032.

The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach about USD 216.34 billion by 2032. 

The major drivers of the market are the growing demand for high-precision and automated equipment, rapid urbanisation and industrialisation,  and growing technological advancements.

The key  trends guiding the growth of the market include the development of interconnected systems and the growing shift towards automation.

The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.

Metal cutting, metal forming, and accessories are the different tool types in the market. 

The various end uses of the product are automotive, aerospace and defence, electrical and electronics, consumer goods, and precision engineering, among others.

The major players in the global machine tools market are Allied Machine & Engineering Corp., General Technology Group Dalian Machine Tool Corporation, DMG MORI, Falcon Machine Tools Co., Ltd., AMADA Co., Ltd., Mazak Corporation, TRUMPF, Doosan Machine Tools, Co. Ltd., and Okuma America Corporation, among others.

Analyst Review

The global machine tools market attained a value of USD 134.91 billion in 2023, driven by rapid technological advancements and growing demand for precision tools. Aided by the growing focus on automation of various industrial processes, the market is expected to witness a further growth in the forecast period of 2024-2032, growing at a CAGR of 5.40%. The machine tools market is projected to reach USD 216.34 billion by 2032. 

EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. Based on its tool types, the industry can be segmented into metal cutting, metal forming, and accessories, with metal cutting tools accounting for the largest market share. On the basis of technology type, the CNC segment accounts for the leading share in the industry. On the basis of end-use sector, the industry is led by the automotive segment. The major regional markets for the product are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa, with the Asia Pacific accounting for the largest share of the market. The key players in the above market include Allied Machine & Engineering Corp., General Technology Group Dalian Machine Tool Corporation, DMG MORI, Falcon Machine Tools Co., Ltd., AMADA Co., Ltd., Mazak Corporation, TRUMPF, Doosan Machine Tools, Co. Ltd., and Okuma America Corporation, among others.

EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.

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