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Machine Tools - Global Market Trajectory & Analytics

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    Report

  • 1198 Pages
  • May 2022
  • Region: Global
  • Global Industry Analysts, Inc
  • ID: 338762

Global Machine Tools Market to Reach $82.3 Billion by 2026


From turning, boring, milling, grinding, drilling, tapping, forming, casting, cutting to other more complex tasks, machine tools are indispensable in a wide gamut of manufacturing industries ranging from automotive, aerospace & defense, shipbuilding, electrical & electronics, precision engineering, power generation, railways to computers, medical, healthcare and biotechnology. The manufacturing industry is a critical growth driver and the shifting role of manufacturing and its level of contribution to economic development tends to impact growth patterns in the market. Growth in textile production and increased mechanization of the agricultural sector are poised to push the future demand for advanced, custom-made machine tools. Further, the increasing role of robotic tools in the production floor and technological innovations will sustain the growth momentum. With a majority of the jobs shops in developed countries serving companies in the automotive and electronics sectors, demand for high precision, technically advanced and efficient grinding machines is forecast to stem from these markets.

Amid the COVID-19 crisis, the global market for Machine Tools estimated at US$64.6 Billion in the year 2022, is projected to reach a revised size of US$82.3 Billion by 2026, growing at a CAGR of 3.7% over the analysis period. Machining Centers, one of the segments analyzed in the report, is projected to record a 3.7% CAGR and reach US$18.5 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Lathe Machines segment is readjusted to a revised 4.1% CAGR for the next 7-year period.

The U.S. Market is Estimated at $6.2 Billion in 2022, While China is Forecast to Reach $30.1 Billion by 2026


The Machine Tools market in the U.S. is estimated at US$6.2 Billion in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$30.1 Billion by the year 2026 trailing a CAGR of 4.5% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2.2% and 3.4% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 2.6% CAGR. In the United States, manufacturing renaissance and reshoring of manufacturing are forecast to benefit the machine tools market. Spiraling labor costs in China and increasing shipping costs are fast eroding China`s edge as a low cost manufacturing hub. In addition, cheap shale gas is attracting industrial companies back into the US, boding a possible return to industrialization after decades of consumption led growth. Manufacturing industries in developing countries are poised to flaunt greater demand for high quality precision equipment on par with their developed counterparts.

Bending & Forming Machines Segment to Reach $10.8 Billion by 2026


Bending & forming tools die cast metal into a desired shape by uniaxially deforming the metal blank beyond its yield strength using temperature and/or pressure gradients that do not perturb its tensile strength, such that the metal`s malleability is optimally leveraged to shape it into the desired form. These automatic high-speed part changeover machines are capable of inducing any number of bends on the surfaces through continuous revolution of the manipulator and are usually deployed to create a variety of partial bends, tubular bends, isolated bends and hems. In the global Bending & Forming Machines segment, USA, Canada, Japan, China and Europe will drive the 4.1% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$6.9 Billion will reach a projected size of US$9.2 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$1.6 Billion by the year 2026, while Latin America will expand at a 4.1% CAGR through the analysis period.

Select Competitors (Total 617 Featured):

  • Ace Micromatic Group
  • Allied Machine & Engineering Corporation
  • Amada Co, Ltd.
  • Amada Machine Tools America, Inc.
  • Chiron Group SE
  • Dalian Machine Tool Group Corporation
  • DMG Mori Co., Ltd.
  • Doosan Machine Tools Co. Ltd.
  • Electronica Hitech Engineering Pvt. Ltd.
  • FANUC Corporation
  • FANUC America Corporation
  • GF Machining Solutions Management SA
  • Gleason Corporation
  • GROB-WERKE GmbH & Co. KG
  • Hardinge, Inc.
  • Jones & Shipman Hardinge Ltd.
  • Haas Automation, Inc.
  • Hyundai WIA Co. Ltd.
  • JTEKT Corporation
  • Kennametal Inc.
  • Komatsu Ltd.
  • Makino Milling Machine Co. Ltd.
  • Okuma Corporation
  • Otto Bihler Maschinenfabrik GmbH & Co. KG
  • Sandvik AB
  • Sandvik Coromant
  • Schuler AG
  • Shanghai Machine Tool Works Ltd.
  • Shape Technologies Group
  • Sodick
  • Spinner Machine Tools GmbH
  • TAJMAC-ZPS, a.s.
  • Trumpf Group
  • Walter AG
  • Yamazaki Mazak Corporation

What`s New for 2022?

  • Global competitiveness and key competitor percentage market shares
  • Market presence across multiple geographies - Strong/Active/Niche/Trivial
  • Online interactive peer-to-peer collaborative bespoke updates
  • Access to the digital archives
  • Complimentary updates for one year

Table of Contents

I. METHODOLOGYII. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
  • The Race Between the Virus & Vaccines Intensifies. Amidst this Chaotic Battle, Where is the World Economy Headed?
  • Progress on Vaccinations: Why Should Businesses Care?
  • With IMF’s Upward Revision of Global GDP Forecasts, Most Companies are Bullish about an Economic Comeback Despite a Continuing Pandemic
  • EXHIBIT 1: A Strong Yet Exceedingly Patchy & Uncertain Recovery Shaped by New Variants Comes Into Play: World Economic Growth Projections (Real GDP, Annual % Change) for 2020 through 2023
  • Competitive Scenario
  • Machine Tools: A Fragmented Marketplace
  • Vendors Emphasize Product Innovations & Enhancements to Maintain Competitive Edge
  • Service & Support Emerge as Prime Focus Areas
  • Product Pricing Continues to be Key Business Strategy
  • Vendors Reinforce Distribution Channels
  • EXHIBIT 2: Machine Tools - Global Key Competitors Percentage Market Share in 2022 (E)
  • Competitive Market Presence - Strong/Active/Niche/Trivial for 412 Players Worldwide in 2022 (E)
  • Machine Tools: Market Fortunes Closely Linked to Manufacturing Sector & Economic Environment
  • Outlook: Long-Term Growth Prospects Remain Optimistic
  • EXHIBIT 3: Global Machine Tools Market (2022E): Percentage Breakdown of Production by Country
  • Industry 4.0 and its Impact on Machine Tools Industry
  • EXHIBIT 4: World Industry 4.0 Market by Vertical (2020 & 2027)
  • A Review of Market Performance over the Past Decade and a Half
  • An Introduction to Machine Tools
  • Key Product Segments
  • Segmentation by Machine Price & Precision
  • Key End Use Sectors
  • Recent Market Activity
  • Select Global Brands
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
  • Reshoring Drives Growth Prospects in Developed Markets
  • Rapid Mushrooming of Job Shops in Developing Countries Poised to Benefit Machine Tools
  • Automotive Production in Developing Countries Augurs Well for Machine Tools
  • EXHIBIT 5: World Automobile Production in Million Units: 2008-2022
  • Switch to Electric Vehicles (EVs) May Affect Demand of Machine Tools
  • EXHIBIT 6: Global Electric Vehicle Sales in 000 Units: 2019-2025
  • Aerospace Industry: COVID-19 Plays Spoilsport to Airlines Market Affecting the Machine Tool Industry
  • EXHIBIT 7: Global Fleet of Commercial Aircraft (2017 & 2036) by Region (in Units)
  • Emphasis on Specialized Aerospace Materials to Spur Demand for Sophisticated Machine Tools
  • Overcoming Aerospace Machining Challenges with the Right Machining Tools
  • Recovery in Construction Activity Offers Growth Opportunities
  • EXHIBIT 8: Percentage Share of Construction Spending by Region - 2021
  • Waterjet Cutting Machines Eliminates Various Risks in Stone & Tile Cutting
  • Pandemic Effect on the Construction Industry
  • EXHIBIT 9: Global Construction Reset & Trajectory - Growth Outlook (In %) For Years 2019 Through 2025
  • Projected Long-Term Growth in the Semiconductor Industry to Drive Future Demand
  • Impact of COVID-19 on Electrical Equipment & Consumer Electronics Industry
  • EXHIBIT 10: Growing Market for Consumer Electronics Presents Opportunity for Machine Tools Market: Consumer Electronics Sales in US$ Billion for the Years 2018, 2020, 2022 and 2024
  • Heavy Equipment/Machinery Manufacturing Industry Promises Bright Prospects
  • Developments in Renewable Energy Help Spur Market Opportunities
  • EXHIBIT 11: Global Energy Generation Mix (in %) for 2018 and 2050
  • Technology Refinements Boost Demand for Numerical Control (NC) Machine Tools
  • Advent of 3D-Printing Machines: Marks the Emergence of Next Generation Machine Tools
  • Steady Growth Anticipated for Multitasking Machine Tools
  • Smart Machines Grow in Popularity
  • Smart Cutting Tools for State of the Art Manufacturing
  • Adoption of Predictive Analytics Drives Market Growth
  • Wide-ranging Benefits Fueling Demand for CNC Machine Tools
  • CNC Machines Finds Application in Wide Spectrum of Application Areas
  • CNC Machines Help Improve Performance and Productivity
  • Retrofit Market Keeps CNC Machinery Sales Alive
  • Robotic-Assisted Technology and Automation Spurs Growth
  • Trends Across Major Product Markets
  • Metal Cutting Tools Market: An Overview
  • Steady Growth Predicted for Metal Cutting Machines Market over the Long Term
  • Surging Automation in End-Use Industries Drive Growth in the Global Lathe Machines Market
  • Carbide Tools: Most Sought After
  • High Speed Steel Cutting Tools: Hopes Pinned onto Powder Metallurgical HSS to Spearhead Growth
  • Rising Popularity of Carbon Fiber-Reinforced Polymers Bodes Well for Advanced Cutting Tools
  • Innovative Pricing Strategies: Need of the Hour for Cutting Tool Vendors
  • Grinding Machines Market: An Overview
  • Strong Opportunities in Orthopedic Implant Manufacturing over the Long Term
  • Advanced Grinding Techniques Spearhead Growth
  • Shortage of Skilled Labor Drives Automation Trends in Grinding Machinery
  • Digitalization and the Future of Machining
  • Metal Forming Machine Tools: An Overview
  • Laser Cutting Machines Market: An Overview
  • Asia-Pacific to Drive Market for Laser Cutting Machine Tools
  • Ultrashort Pulsed Laser Technology Gains Popularity
  • Fiber Laser Technology Gains Prominence at the Expense of CO2 Laser Technology
  • Adoption of Nanosecond Pulsed Fiber Lasers Poised to Grow Rapidly
  • Waterjet Cutting Machines Market: An Overview
  • Advanced Machines to Drive Growth in Waterjet Cutting Machinery Market
  • Expanding Applications to Spur Long Term Growth in the Market
  • Pandemic Impact on Waterjet Cutting Machines
  • EXHIBIT 12: Waterjet Cutting Machines - Global Key Competitors Percentage Market Share in 2022 (E)
  • Excellence in Technology: Critical to Future Evolution of Machine Tools Industry
  • Technology Innovation: Key to Growth in the Market
  • Connected, Automated Machines Facilitate Machine Tool Innovations
  • Innovations that Changed Production Processes
  • Technology Trends Shaping the Future of Manufacturing Sector
  • Modern Safety Innovations in Machine Tools
  • Hybrid Machine for Producing Highly Complicated Components
  • Select Latest Innovations
  • Brief Note on Distribution and Sales Channels
4. GLOBAL MARKET PERSPECTIVEIII. MARKET ANALYSIS
UNITED STATES
  • Machine Tools Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United States for 2022 (E)
  • Machine Tools Market in the US: An Overview
  • Amidst COVID-19 Crisis, Manufacturing Activities Come to a Halt
  • America’s Cutting Edge Approach for Enhancing Functioning of Machine Tools Sector
  • Machine Tools Vital for Defense Manufacturing Activities
  • Cutting Tools Market: Overview
  • Market Analytics
CANADA
  • Machine Tools Industry: An Overview
  • Aerospace Industry Vital for Canadian Machine Tools Market
  • Distribution Channels
  • Market Analytics
JAPAN
  • Machine Tools Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Japan for 2022 (E)
  • Japan: A Major Machine Tools Market
  • Trade War and the Pandemic Impact
  • A Key Import Market for High Performance Machines
  • Market Structure
  • Market Analytics
CHINA
  • Machine Tools Market Presence - Strong/Active/Niche/Trivial - Key Competitors in China for 2022 (E)
  • China’s Machine Tools Exhibits Downward Trend
  • EXHIBIT 13: Manufacturing Industry Output Value Growth (%) in China for the Years 2019 through 2024
  • End-Use Industry Dynamics to Determine Machine Tools Demand Trends in China
  • China’s Prominence as World’s Manufacturing Hub Contributes to Leadership
  • Automotive Industry Trends Set the Tone for Machine Tools Market
  • Chinese Military Modernization Augurs Well for Machine Tool Industry
  • Market Structure
  • EXHIBIT 14: Chinese Machine Tools Market: Percentage Breakdown of Sales Revenue by Tool Makers for 2022E
  • EXHIBIT 15: Chinese Machine Tools Market: Percentage Share Breakdown of Ownership by Tool Makers for 2022E
  • Challenges Ahead
  • Market Analytics
EUROPE
  • Machine Tools Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Europe for 2022 (E)
  • European Machine Tools Industry: An Overview
  • HSK Tooling Standard
  • Applications of HSK Technology
  • Market Analytics
FRANCEGERMANYITALYUNITED KINGDOMSPAINRUSSIAREST OF EUROPE
ASIA-PACIFIC
  • Machine Tools Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Asia-Pacific for 2022 (E)
  • Market Analytics
INDIA
  • Machine Tools Market in India: An Overview
  • Factors Affecting the Industry
  • Pandemic Impact on Indian Machine Tools Market
  • Increased Adoption of CNC-based Tools and Make-in-India Initiative: Long Term Growth Opportunities
  • Indigenization of Defense Systems Boosts Prospects for Machine Tools Market
  • Indian Machine Tools Industry Preps Up to Support Exports Demand
  • Outsourcing Market Posts Gains
  • Industry Structure
  • EXHIBIT 16: Indian Machine Tools Market: Percentage Share Breakdown of Value Production by Region for 2022E
  • Market Analytics
SOUTH KOREATAIWANREST OF ASIA-PACIFICLATIN AMERICAARGENTINABRAZILMEXICOREST OF LATIN AMERICAMIDDLE EASTAFRICA
IV. COMPETITION
  • Total Companies Profiled: 617

Companies Mentioned

A selection of companies mentioned in this report includes:

  • Ace Micromatic Group
  • Allied Machine & Engineering Corporation
  • Amada Co, Ltd.
  • Amada Machine Tools America, Inc.
  • Chiron Group SE
  • Dalian Machine Tool Group Corporation
  • DMG Mori Co., Ltd.
  • Doosan Machine Tools Co. Ltd.
  • Electronica Hitech Engineering Pvt. Ltd.
  • FANUC Corporation
  • FANUC America Corporation
  • GF Machining Solutions Management SA
  • Gleason Corporation
  • GROB-WERKE GmbH & Co. KG
  • Hardinge, Inc.
  • Jones & Shipman Hardinge Ltd.
  • Haas Automation, Inc.
  • Hyundai WIA Co. Ltd.
  • JTEKT Corporation
  • Kennametal Inc.
  • Komatsu Ltd.
  • Makino Milling Machine Co. Ltd.
  • Okuma Corporation
  • Otto Bihler Maschinenfabrik GmbH & Co. KG
  • Sandvik AB
  • Sandvik Coromant
  • Schuler AG
  • Shanghai Machine Tool Works Ltd.
  • Shape Technologies Group
  • Sodick
  • Spinner Machine Tools GmbH
  • TAJMAC-ZPS, a.s.
  • Trumpf Group
  • Walter AG
  • Yamazaki Mazak Corporation