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United States Machine Tools Market Size, Share, Analysis: By Tool Type: Milling Machines, Drilling Machines, Turning Machines, Grinding Machines, Electrical Discharge Machines, Others; By Technology Type: Computer Numerical Control (CNC), Conventional; By End Use; Regional Analysis; Market Dynamics; Competitive Landscape; 2024-2032
United States Machine Tools Market Outlook
The United States machine tools market size reached approximately USD 11.68 billion in 2023. The market is further projected to grow at a CAGR of 4.1% between 2024 and 2032, reaching a value of USD 16.95 billion by 2032.
Key Trends in the Market
Machine tools refer to tools and equipment that help in grinding, shaping, drilling, and cutting hard materials, including metals. The tools allow the provision of maximum product uniformity as they are operated using numerical control. They enhance the productivity of the operations and aid in minimizing the requirement for human resources.
- The increasing initiatives by various businesses to reduce costs of operation is aiding the United States machine tools market growth. The relatively lower production time and costs of operations of machine tools allows businesses to reduce production costs and increase profit margins.
- The increasing adoption of novel technologies including machine learning and robotics due to growing demand from precision engineering is supporting the market expansion. The advancement in software and hardware components of computer numeric control systems is further supporting the market growth.
- The rising requirement for rapid and cost-efficient production processes is boosting the adoption of additive manufacturing. Additionally, the growing popularity of heterogenous material manufacturing capabilities is bolstering the requirement for machine tools across various sectors in the United States.
United States Machine Tools Market Segmentation
On the basis of tool type, the market is divided into milling machines, drilling machines, turning machines, grinding machines, and electrical discharge machines, among others. Based on technology type, the market is bifurcated into computer numerical control (CNC) and conventional.
On the basis of end use, the market is classified into aerospace and defence, automotive, metal, and electrical and electronics, among others. Based on region, the market is segmented into New England, Mideast, Great Lakes, Plains, Southeast, Southwest, Rocky Mountain, and Far West.
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. The report gives a detailed analysis of the following key players in the United States machine tools market, covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.
- TRUMPF SE + Co. KG
- Georg Fischer Ltd.
- Haas Automation, Inc.
- Komatsu NTC Ltd.
- Amada Co., Ltd.
- Pacific Press Holdings Company (MULTIPRESS Inc.)
- Bystronic Group
- Mitusa Inc.
- Fenn
- Mate Precision Technologies
- Others
Market Share by Technology Type
The computer numerical control (CNC) technology is anticipated to account for a significant United States machine tools market share over the forecast period. This growth can be attributed to the rising demand for process automation across different sectors. The growing requirement for short lead time and improved precision is bolstering the requirement for automation in production processes. Therefore, the key players of the market are heavily investing towards the development of CNC systems that cater to different industrial requirements.
Market Share by End Use
Automotive sector is witnessing significant growth due to growing requirement for personal and public vehicles because of rising population and increasing disposable incomes. The manufacture of different automotive components requires the usage of different types of machines including milling, turning, and drilling, among others. Milling machines are used for manufacturing different automotive components including gearbox cases, engine rods, and piston rods, among others, boosting the United States machine tools market demand.
Competitive Landscape
TRUMPF SE + Co. KG, headquartered in Ditzingen, Germany, is one of the leading industrial machinery manufacturing companies that was founded in 1923. The company specialises in laser technology, machine tools, additive manufacturing, and laser welding, among others.
Georg Fischer Ltd. was founded in 1802 and is headquartered in Schaffhausen, Switzerland. The industrial machinery manufacturing company specialises in machine tools, robots, electric vehicles, water treatment, and automation, among others.
Haas Automation, Inc., headquartered in California, United States, is involved with the manufacturing and marketing of specialised accessory tooling and machine tools including rotary tables, and computer numerically controlled (CNC) equipment, among others.
Other United States machine tools market key players include Komatsu NTC Ltd., Amada Co., Ltd., Pacific Press Holdings Company (MULTIPRESS Inc.), Bystronic Group, Mitusa Inc., Fenn, and Mate Precision Technologies, among others.
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:
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| Breakup by Tool Type |
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| Breakup by Technology Type |
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| Breakup by End Use |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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*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 Market Snapshot
7 Opportunities and Challenges in the Market
8 North America Machine Tools Market Overview
8.1 Key Industry Highlights
8.2 North America Machine Tools Historical Market (2018-2023)
8.3 North America Machine Tools Market Forecast (2024-2032)
8.4 North America Machine Tools Market Breakup by Country
8.4.1 United States
8.4.2 Canada
9 United States Machine Tools Market Overview
9.1 Key Industry Highlights
9.2 United States Machine Tools Historical Market (2018-2023)
9.3 United States Machine Tools Market Forecast (2024-2032)
10 United States Machine Tools Market by Tool Type
10.1 Milling Machines
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Drilling Machines
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 Turning Machines
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Grinding Machines
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Electrical Discharge Machines
10.5.1 Historical Trend (2018-2023)
10.5.2 Forecast Trend (2024-2032)
10.6 Others
11 United States Machine Tools Market by Technology Type
11.1 Computer Numerical Control (CNC)
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Conventional
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
12 United States Machine Tools Market by End Use
12.1 Aerospace and Defence
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Automotive
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Metal
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Electrical and Electronics
12.4.1 Historical Trend (2018-2023)
12.4.2 Forecast Trend (2024-2032)
12.5 Others
13 United States Machine Tools Market by Region
13.1 New England
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 Mideast
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Great Lakes
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 Plains
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Southeast
13.5.1 Historical Trend (2018-2023)
13.5.2 Forecast Trend (2024-2032)
13.6 Southwest
13.6.1 Historical Trend (2018-2023)
13.6.2 Forecast Trend (2024-2032)
13.7 Rocky Mountain
13.7.1 Historical Trend (2018-2023)
13.7.2 Forecast Trend (2024-2032)
13.8 Far West
13.8.1 Historical Trend (2018-2023)
13.8.2 Forecast Trend (2024-2032)
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 Competitive Landscape
15.1 Market Structure
15.2 Company Profiles
15.2.1 TRUMPF SE + Co. KG
15.2.1.1 Company Overview
15.2.1.2 Product Portfolio
15.2.1.3 Demographic Reach and Achievements
15.2.1.4 Certifications
15.2.2 Georg Fischer Ltd.
15.2.2.1 Company Overview
15.2.2.2 Product Portfolio
15.2.2.3 Demographic Reach and Achievements
15.2.2.4 Certifications
15.2.3 Haas Automation, Inc.
15.2.3.1 Company Overview
15.2.3.2 Product Portfolio
15.2.3.3 Demographic Reach and Achievements
15.2.3.4 Certifications
15.2.4 Komatsu NTC Ltd.
15.2.4.1 Company Overview
15.2.4.2 Product Portfolio
15.2.4.3 Demographic Reach and Achievements
15.2.4.4 Certifications
15.2.5 Amada Co., Ltd.
15.2.5.1 Company Overview
15.2.5.2 Product Portfolio
15.2.5.3 Demographic Reach and Achievements
15.2.5.4 Certifications
15.2.6 Pacific Press Holdings Company (MULTIPRESS Inc.)
15.2.6.1 Company Overview
15.2.6.2 Product Portfolio
15.2.6.3 Demographic Reach and Achievements
15.2.6.4 Certifications
15.2.7 Bystronic Group
15.2.7.1 Company Overview
15.2.7.2 Product Portfolio
15.2.7.3 Demographic Reach and Achievements
15.2.7.4 Certifications
15.2.8 Mitusa Inc.
15.2.8.1 Company Overview
15.2.8.2 Product Portfolio
15.2.8.3 Demographic Reach and Achievements
15.2.8.4 Certifications
15.2.9 Fenn
15.2.9.1 Company Overview
15.2.9.2 Product Portfolio
15.2.9.3 Demographic Reach and Achievements
15.2.9.4 Certifications
15.2.10 Mate Precision Technologies
15.2.10.1 Company Overview
15.2.10.2 Product Portfolio
15.2.10.3 Demographic Reach and Achievements
15.2.10.4 Certifications
15.2.11 Others
16 Key Trends and Developments in the Market
List of Key Figures and Tables
1. North America Machine Tools Market: Key Industry Highlights, 2018 and 2032
2. United States Machine Tools Market: Key Industry Highlights, 2018 and 2032
3. United States Machine Tools Historical Market: Breakup by Tool Type (USD Billion), 2018-2023
4. United States Machine Tools Market Forecast: Breakup by Tool Type (USD Billion), 2024-2032
5. United States Machine Tools Historical Market: Breakup by Technology Type (USD Billion), 2018-2023
6. United States Machine Tools Market Forecast: Breakup by Technology Type (USD Billion), 2024-2032
7. United States Machine Tools Historical Market: Breakup by End Use (USD Billion), 2018-2023
8. United States Machine Tools Market Forecast: Breakup by End Use (USD Billion), 2024-2032
9. United States Machine Tools Historical Market: Breakup by Region (USD Billion), 2018-2023
10. United States Machine Tools Market Forecast: Breakup by Region (USD Billion), 2024-2032
11. United States Machine Tools Market Structure
Key Questions Answered in the Report
The market reached a value of approximately USD 11.68 billion in 2023.
The market is projected to grow at a CAGR of 4.1% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach USD 16.95 billion by 2032.
The major market drivers include increasing requirement by transportation and automotive sectors due to increasing population and increasing adoption of novel technologies including machine learning and robotics due to growing demand from precision engineering.
The key trends fuelling the growth of the market include growing popularity of additive manufacturing and increasing initiatives by various businesses to reduce costs of operation.
The major regions in the market are New England, Mideast, Great Lakes, Plains, Southeast, Southwest, Rocky Mountain, and Far West.
The end uses of machine tools include aerospace and defence, automotive, metal, and electrical and electronics, among others.
The key players in the market are TRUMPF SE + Co. KG, Georg Fischer Ltd., Haas Automation, Inc., Komatsu NTC Ltd., Amada Co., Ltd., Pacific Press Holdings Company (MULTIPRESS Inc.), Bystronic Group, Mitusa Inc., Fenn, and Mate Precision Technologies, among others.
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