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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 - Forecast to 2030

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  • 255 Pages
  • February 2024
  • Region: Global
  • Markets and Markets
  • ID: 4833245
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The global machine tools market is projected to grow from USD 78.6 Billion in 2023 to USD 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 to rise. This will, in turn, drive the demand for machine tools, which are essential for producing these goods. Machine tools are also becoming increasingly sophisticated, with new technologies such as artificial intelligence and additive manufacturing being incorporated into their design. These advancements are making machine tools more efficient, productive, and versatile, which is driving their demand. In an effort to boost productivity and reduce costs, manufacturers are increasingly turning to automation. Innovations like CNC (Computer Numerical Control) and Industry 4 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 to lead the market during the forecast period. Dealers and distributors typically have established networks and reach across various regions, allowing them to distribute machine tools to a 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 to represent 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 to hold the largest share of the machine tools market during the forecast period due to its ability to efficiently 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 to impact 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 also increases, making machines vital in this ever-changing landscape. The advantages of this growth include enhanced productivity that leads to increased output and reduced downtime, improved precision and quality through high-precision machining, and cost efficiency by minimizing material waste and labor costs.

Europe to be the second largest growing market for machine tools during the forecast period

The European market is estimated to account for the second-largest global machine tools market share in 2023. This is due to the 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 to laser cutting. In addition, Europe is home to major 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 to support 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 Makino Inc. (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 to their 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 also covers the competitive landscape and company profiles of the major players in the Machine Tools market ecosystem.

Key Benefits of the Report

The study also includes an in-depth competitive analysis of the key players in the market, along with their company profiles, key observations related to product 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 to position their businesses better and plan suitable go-to-market strategies. The report also helps 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 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 to operate 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 Makino Inc. (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 also helps stakeholders understand the pulse of the CNC Machine market and provides them with information on key market drivers, restraints, challenges, and opportunities.

Table of Contents

1 Introduction
1.1 Study Objectives
1.2 Market Definition
Table 1 Machine Tools Market Definition, by Product Type
Table 2 Machine Tools Market Definition, by Automation
Table 3 Machine Tools Market Definition, by Sales Channel
Table 4 Machine Tools Market Definition, by End-user Industry
1.2.1 Inclusions and Exclusions
Table 5 Inclusions and Exclusions for Machine Tools Market
1.3 Market Scope
1.3.1 Markets Covered
Figure 1 Machine Tools Market Segmentation
1.3.2 Regions Covered
1.3.3 Years Considered
1.4 Currency Considered
Table 6 Currency Exchange Rates (Per USD)
1.5 Stakeholders
1.6 Summary of Changes
2 Research Methodology
2.1 Research Data
Figure 2 Research Design
Figure 3 Research Design Model
2.1.1 Secondary Data
2.1.1.1 Key Secondary Sources
2.1.1.2 Key Data from Secondary Sources
2.1.2 Primary Data
2.1.2.1 Key Data from Primary Sources
Table 7 List of Participating Companies for Primary Research
Figure 4 Breakdown of Primary Interviews: by Company Type, Designation, and Region
2.1.2.2 List of Primary Participants
2.2 Market Estimation Methodology
Figure 5 Research Methodology: Hypothesis Building
2.3 Market Size Estimation
2.3.1 Bottom-Up Approach
Figure 6 Machine Tools Market: Bottom-Up Approach
2.3.2 Top-Down Approach
Figure 7 Machine Tools Market: Top-Down Approach
Figure 8 Machine Tools Market Estimation Notes
2.4 Data Triangulation
Figure 9 Data Triangulation
2.5 Analysis of Factors Impacting Machine Tools Market
2.5.1 Factor Analysis for Market Sizing: Demand and Supply Sides
2.6 Recession Impact Analysis
2.7 Research Assumptions
2.8 Research Limitations
3 Executive Summary
Figure 10 Machine Tools Market Overview
Figure 11 Cnc Machine Tools Segment to Hold Larger Market Share Than Conventional Machine Tools Segment from 2023 to 2030
Figure 12 Milling Machines Segment to Grow at Highest Rate During Forecast Period
Figure 13 Automotive and Transportation Segment to Hold Largest Market Share During Forecast Period
Figure 14 Asia-Pacific to Register Highest CAGR During Forecast Period
4 Premium Insights
4.1 Attractive Growth Opportunities for Players in Machine Tools Market
Figure 15 Rising Demand for Machine Tools in Asia-Pacific to Drive Market
4.2 Machine Tools Market, by Product Type
Figure 16 Milling Machines Segment to Lead Market During Forecast Period
4.3 Machine Tools Market, by Automation
Figure 17 Cnc Machine Tools Segment to Hold Larger Market Share Than Conventional Machine Tools Segment During Forecast Period
4.4 Machine Tools Market, by Sales Channel
Figure 18 Dealers and Distributors Segment to Lead Market During Forecast Period
4.5 Machine Tools Market, by End-user Industry
Figure 19 Automotive and Transportation Segment to Register Highest CAGR During Forecast Period
4.6 Machine Tools Market, by Region
Figure 20 Asia-Pacific to Register Highest CAGR During Forecast Period
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
Figure 21 Machine Tools Market: Drivers, Restraints, Opportunities, and Challenges
5.2.1 Drivers
5.2.1.1 Rising Adoption of Manufactured Goods
Figure 22 Manufacturing Industry Value Added Growth, 2019-2023
5.2.1.2 Increasing Demand for Precision and Efficiency
Figure 23 Approaches for Increasing Energy Efficiency of Machine Tools
5.2.1.3 Increase in Automobile Production
Figure 24 Vehicle Production, 2020-2022
5.2.1.4 Growing Focus on Automation
5.2.2 Restraints
5.2.2.1 High Initial Investment Costs
5.2.2.2 Rising Popularity of Electric Vehicles
5.2.3 Opportunities
5.2.3.1 Industry 4.0 and Digitization
Figure 25 Evolutionary History of Industrialization and Machine Tools
5.2.3.2 Increasing Adoption of Cnc Technology
5.2.3.3 Rising Implementation of Adaptive Machining
Figure 26 Adaptive Control Systems for Machine Tools
5.2.4 Challenges
5.2.4.1 Absence of Standardization in Industrial Communication Protocols and Interfaces
5.2.4.2 Lack of Skilled Workforce to Operate Automated Machine Tools
Figure 27 Workforce Skill Gap Between 2018 and 2028
Table 8 Impact of Market Dynamics
5.3 Pricing Analysis
5.3.1 Average Selling Price Trends of Key Players, by Product Type
Table 9 Average Selling Price Trends of Key Players, by Product Type, 2023
5.3.2 Average Selling Price Trends, by Region
Table 10 Average Selling Price Trends, by Region, 2023
5.4 Ecosystem Analysis
Figure 28 Ecosystem Analysis
5.4.1 Raw Material Suppliers
5.4.2 Machine Tool Component Manufacturers
5.4.3 Cutting Tool Manufacturers
5.4.4 Software and Digitization Providers
5.4.5 Machine Tool Manufacturers
5.4.6 Distributors and Dealers
5.4.7 Maintenance and Repair Service Providers
Table 11 Role of Companies in Ecosystem
5.5 Value Chain Analysis
Figure 29 Machine Tools Market: Valu Chain Analysis
5.6 Case Study Analysis
5.6.1 Circle GmbH Installed Roeders 5-Axis Machining Center of Hurco Europe to Produce Machine Prototypes
5.6.2 Jones Nuttal Installed Precision Cnc Machines to Improve Operational Efficiency and Reliability
5.6.3 P-Q Controls, Inc. Used Detron Neo Cnc Machine to Reduce Operating Costs
5.6.4 High-Precision Solution for Hyperion Materials & Technologies
5.6.5 Customized Grinding Machines for Machining Gears
5.6.6 High-Precision Grinding Machine for Turbo-Compressors for Various Models of Marine Engines
5.7 Investment and Funding Scenarios
Figure 30 Deals of Key Players, 2020-2023
Table 12 List of Funding, 2021-2023
5.8 Patent Analysis
Table 13 Patent Analysis (Active Patents), 2022-2023
5.9 Technology Analysis
5.9.1 Introduction
5.9.2 Inclusion of Smart Features and Networks
Figure 31 System Architecture of Intelligent Numerical Controller (Inc)
5.9.3 Automated and IoT-Ready Machines
Figure 32 IoT for Machine Tool Monitoring Solutions
5.9.4 Cnc Software Advancements in Machine Tools Industry
5.9.5 Artificial Intelligence in Machine Tools
5.10 Tariff and Regulatory Landscape
5.10.1 Regulatory Bodies, Government Agencies, and Other Organizations
Table 14 North America: Regulatory Bodies, Government Agencies, and Other Organizations
Table 15 Europe: Regulatory Bodies, Government Agencies, and Other Organizations
Table 16 Asia-Pacific: Regulatory Bodies, Government Agencies, and Other Organizations
Table 17 Rest of the World: Regulatory Bodies, Government Agencies, and Other Organizations
5.11 Trade Analysis
Table 18 Import and Export Data for Products Under HS Code 8459, by Key Country, 2022
5.12 Key Conferences and Events
Table 19 List of Key Conferences and Events, 2024-2025
5.13 Trends & Disruptions Impacting Customer Business
Figure 33 Revenue Shift and New Revenue Pockets for Players in Machine Tools Market
5.14 Key Stakeholders and Buying Criteria
5.14.1 Key Stakeholders in Buying Process
Figure 34 Influence of Stakeholders on Buying Process for Machine Tools, by Product Type
Table 20 Influence of Stakeholders on Buying Process for Machine Tools, by Product Type
5.14.2 Buying Criteria
Figure 35 Key Buying Criteria for Machine Tools, by Product Type
Table 21 Key Buying Criteria for Machine Tools, by Product Type
6 Machine Tools Market, by Product Type
6.1 Introduction
Figure 36 Milling Machines Segment to Lead Market During Forecast Period
Table 22 Machine Tools Market, by Product Type, 2019-2022 (USD Billion)
Table 23 Machine Tools Market, by Product Type, 2023-2030 (USD Billion)
6.2 Milling Machines
6.2.1 Advancements in Milling Machine Technology to Drive Market
Table 24 Milling Machine Tools Market, by Region, 2019-2022 (USD Billion)
Table 25 Milling Machine Tools Market, by Region, 2023-2030 (USD Billion)
6.2.2 Milling Machines Market, by Axis Type
6.2.2.1 Milling Machines Market, by 4-Axis
6.2.2.2 Milling Machines Market, by 5-Axis
Table 26 List of 4 and 5-Axis Milling Machines
Table 27 Milling Machine Tools Market, by Axis Type, 2019-2022 (USD Billion)
Table 28 Milling Machine Tools Market, by Axis Type, 2023-2030 (USD Billion)
6.2.3 Universal Milling Machines
6.2.4 Machining Centers
6.3 Drilling Machines
6.3.1 Rising Demand for Accurate and Efficient Drilling to Drive Market
Table 29 Drilling Machine Tools Market, by Region, 2019-2022 (USD Billion)
Table 30 Drilling Machine Tools Market, by Region, 2023-2030 (USD Billion)
6.4 Turning Machines
6.4.1 Rising Demand for Accuracy and Versatility in Automotive Industry to Drive Market
Table 31 Turning Machine Tools Market, by Region, 2019-2022 (USD Billion)
Table 32 Turning Machine Tools Market, by Region, 2023-2030 (USD Billion)
6.4.2 Turning Machines Market, by Type
6.4.2.1 Turning Machines Market, by Swiss-Type
6.4.2.2 Turning Machines Market, by Multi-Spindle
Table 33 Turning Machine Tools Market, by Type, 2019-2022 (USD Billion)
Table 34 Turning Machine Tools Market, by Type, 2023-2030 (USD Billion)
6.4.3 Universal Turning Machines
6.5 Grinding Machines
6.5.1 Increasing Demand for Precision Grinding Operations to Drive Market
Table 35 Grinding Machine Tools Market, by Region, 2019-2022 (USD Billion)
Table 36 Grinding Machine Tools Market, by Region, 2023-2030 (USD Billion)
6.6 Electrical Discharge Machines
6.6.1 Rising Demand for Advanced Micro Edm Techniques to Drive Market
Table 37 Electrical Discharge Machine Tools Market, by Region, 2019-2022 (USD Billion)
Table 38 Electrical Discharge Machine Tools Market, by Region, 2023-2030 (USD Billion)
6.7 Key Primary Insights
7 Machine Tools Market, by Automation
7.1 Introduction
Figure 37 Cnc Machine Tools Segment to Dominate Market During Forecast Period
Table 39 Machine Tools Market, by Automation, 2019-2022 (USD Billion)
Table 40 Global Machine Tools Market, by Automation, 2023-2030 (USD Billion)
7.2 Cnc Machine Tools
7.2.1 Rising Demand for High-Quality, Complex Components in Aerospace and Automotive Industries to Drive Market
Table 41 Cnc Machine Tools Market, by Region, 2019-2022 (USD Billion)
Table 42 Cnc Machine Tools Market, by Region, 2023-2030 (USD Billion)
7.3 Conventional Machine Tools
7.3.1 Lower Initial Investment and Operational Cost to Drive Market
Table 43 Conventional Machine Tools Market, by Region, 2019-2022 (USD Billion)
Table 44 Conventional Machine Tools Market, by Region, 2023-2030 (USD Billion)
7.4 Key Primary Insights
8 Machine Tools Market, by Sales Channel
8.1 Introduction
Figure 38 Dealers and Distributors Segment to Hold Largest Market Share During Forecast Period
Table 45 Machine Tools Market, by Sales Channel, 2019-2022 (USD Billion)
Table 46 Machine Tools Market, by Sales Channel, 2023-2030 (USD Billion)
8.2 Direct Sales
8.2.1 Growing Demand for Customization and After-Sales Support to Drive Market
Table 47 Direct Sales: Machine Tools Market, by Region, 2019-2022 (USD Billion)
Table 48 Direct Sales: Machine Tools Market, by Region, 2023-2030 (USD Billion)
8.3 Events and Exhibitions
8.3.1 Product Visibility and Promotion Factor to Drive Market
Table 49 Events and Exhibitions: Machine Tools Market, by Region, 2019-2022 (USD Billion)
Table 50 Events and Exhibitions: Machine Tools Market, by Region, 2023-2030 (USD Billion)
8.4 Dealers and Distributors
8.4.1 Rising Demand for After-Sales Service and Support to Drive Market
Table 51 Dealers and Distributors: Machine Tools Market, by Region, 2019-2022 (USD Billion)
Table 52 Dealers and Distributors: Machine Tools Market, by Region, 2023-2030 (USD Billion)
8.5 Key Primary Insights
9 Machine Tools Market, by End-user Industry
9.1 Introduction
Figure 39 Automotive and Transportation Segment to Lead Market from 2023 to 2030
Table 53 Machine Tools Market, by End-user Industry, 2019-2022 (USD Billion)
Table 54 Machine Tools Market, by End-user Industry, 2023-2030 (USD Billion)
9.2 Aerospace
9.2.1 Growing Adoption of Machine Tools for Precise Manufacturing to Drive Market
Table 55 Aerospace: Machine Tools Market, by Region, 2019-2022 (USD Billion)
Table 56 Aerospace: Machine Tools Market, by Region, 2023-2030 (USD Billion)
9.3 Medical
9.3.1 Rising Demand for Highly Precise Medical Devices to Drive Market
Table 57 Medical: Machine Tools Market, by Region, 2019-2022 (USD Billion)
Table 58 Medical: Machine Tools Market, by Region, 2023-2030 (USD Billion)
9.4 Semiconductor
9.4.1 Increasing Demand for Machine Tools in Die- and Wire-Bonding Processes to Drive Market
Table 59 Semiconductor: Machine Tools Market, by Region, 2019-2022 (USD Billion)
Table 60 Semiconductor: Machine Tools Market, by Region, 2023-2030 (USD Billion)
9.5 Automotive and Transportation
9.5.1 Rising Focus on Increasing Manufacturing Efficiency During Mass Production to Drive Market
Table 61 Automotive and Transportation: Machine Tools Market, by Region, 2019-2022 (USD Billion)
Table 62 Automotive and Transportation: Machine Tools Market, by Region, 2023-2030 (USD Billion)
9.6 Capital Goods
9.6.1 Rising Demand for Fabricated Metal Parts to Drive Market
Table 63 Capital Goods: Machine Tools Market, by Region, 2019-2022 (USD Billion)
Table 64 Capital Goods: Machine Tools Market, by Region, 2023-2030 (USD Billion)
9.7 Energy and Power
9.7.1 Increasing Demand for Efficient and Sustainable Energy Sources to Drive Market
Table 65 Energy and Power: Machine Tools Market, by Region, 2019-2022 (USD Billion)
Table 66 Energy and Power: Machine Tools Market, by Region, 2023-2030 (USD Billion)
9.8 Sheet Metal
9.8.1 Increasing Use of Sheet Metal in Manufacturing and Growing Emphasis on Lightweight Materials to Drive Market
Table 67 Sheet Metal: Machine Tools Market, by Region, 2019-2022 (USD Billion)
Table 68 Sheet Metal: Machine Tools Market, by Region, 2023-2030 (USD Billion)
9.9 Others
Table 69 Others: Machine Tools Market, by Region, 2019-2022 (USD Billion)
Table 70 Others: Machine Tools Market, by Region, 2023-2030 (USD Billion)
9.10 Key Primary Insights
10 Machine Tools Market, by Region
10.1 Introduction
Figure 40 Asia-Pacific to be Fastest-Growing Market During Forecast Period
Table 71 Machine Tools Market, by Region, 2019-2022 (USD Billion)
Table 72 Machine Tools Market, by Region, 2023-2030 (USD Billion)
10.2 Asia-Pacific
10.2.1 Asia-Pacific: Recession Impact
Figure 41 Asia-Pacific: Machine Tools Market Snapshot
Table 73 Asia-Pacific: Machine Tools Market, by Country, 2019-2022 (USD Billion)
Table 74 Asia-Pacific: Machine Tools Market, by Country, 2023-2030 (USD Billion)
10.2.2 China
10.2.2.1 Government-Led Initiatives to Promote Automation and Advanced Technologies to Drive Market
Table 75 China: Machine Tools Market, by Automation, 2019-2022 (USD Billion)
Table 76 China: Machine Tools Market, by Automation, 2023-2030 (USD Billion)
10.2.3 Japan
10.2.3.1 Increasing Production of High-Precision Components for Automotive Industry to Support Market Growth
Table 77 Japan: Machine Tools Market, by Automation, 2019-2022 (USD Billion)
Table 78 Japan: Machine Tools Market, by Automation, 2023-2030 (USD Billion)
10.2.4 South Korea
10.2.4.1 Rising Demand for Advanced Machine Tools to Drive Growth
Figure 42 Market Share of Leading Machine Tool Companies in South Korea, 2022
Table 79 South Korea: Machine Tools Market, by Automation, 2019-2022 (USD Billion)
Table 80 South Korea: Machine Tools Market, by Automation, 2023-2030 (USD Billion)
10.2.5 India
10.2.5.1 Rising Economic Growth and Domestic Investments to Drive Market
Table 81 India: Machine Tools Market, by Automation, 2019-2022 (USD Billion)
Table 82 India: Machine Tools Market, by Automation, 2023-2030 (USD Billion)
10.2.6 Thailand
10.2.6.1 Rising Government Initiatives to Drive Market Growth
Table 83 Thailand: Machine Tools Market, by Automation, 2019-2022 (USD Billion)
Table 84 Thailand: Machine Tools Market, by Automation, 2023-2030 (USD Billion)
10.2.7 Taiwan
10.2.7.1 Rising Investment in High-End Equipment to Drive Market Growth
Table 85 Taiwan: Machine Tools Market, by Automation, 2019-2022 (USD Billion)
Table 86 Taiwan: Machine Tools Market, by Automation, 2023-2030 (USD Billion)
10.2.8 Vietnam
10.2.8.1 Rising Economic Growth and Industrialization to Boost Demand for Machine Tools
Table 87 Vietnam: Machine Tools Market, by Automation, 2019-2022 (USD Billion)
Table 88 Vietnam: Machine Tools Market, by Automation, 2023-2030 (USD Billion)
10.2.9 Malaysia
10.2.9.1 Growth in Key End-user Industries to Drive Market Growth
Table 89 Malaysia: Machine Tools Market, by Automation, 2019-2022 (USD Billion)
Table 90 Malaysia: Machine Tools Market, by Automation, 2023-2030 (USD Billion)
10.2.10 Rest of Asia-Pacific
Table 91 Rest of Asia-Pacific: Machine Tools Market, by Automation, 2019-2022 (USD Billion)
Table 92 Rest of Asia-Pacific: Machine Tools Market, by Automation, 2023-2030 (USD Billion)
10.3 Europe
10.3.1 Europe: Recession Impact
Figure 43 Europe: Machine Tools Market Snapshot
Table 93 Europe: Machine Tools Market, by Country, 2019-2022 (USD Billion)
Table 94 Europe: Machine Tools Market, by Country, 2023-2030 (USD Billion)
10.3.2 UK
10.3.2.1 Technological Advancements in Automotive Industry to Fuel Adoption
Table 95 UK: Machine Tools Market, by Automation, 2019-2022 (USD Billion)
Table 96 UK: Machine Tools Market, by Automation, 2023-2030 (USD Billion)
10.3.3 Germany
10.3.3.1 Rising Investments in Advanced Manufacturing Processes to Encourage Market Expansion
Table 97 Germany: Machine Tools Market, by Automation, 2019-2022 (USD Billion)
Table 98 Germany: Machine Tools Market, by Automation, 2023-2030 (USD Billion)
10.3.4 France
10.3.4.1 Foreign Investments and Government-Led Incentives in Electric and Hybrid Vehicles to Boost Growth
Table 99 France: Machine Tools Market, by Automation, 2019-2022 (USD Billion)
Table 100 France: Machine Tools Market, by Automation, 2023-2030 (USD Billion)
10.3.5 Italy
10.3.5.1 Rising Government Support to Propel Market
Table 101 Italy: Machine Tools Market, by Automation, 2019-2022 (USD Billion)
Table 102 Italy: Machine Tools Market, by Automation, 2023-2030 (USD Billion)
10.3.6 Spain
10.3.6.1 Rise in Demand for Advanced Machine Tools to Spur Growth
Table 103 Spain: Machine Tools Market, by Automation, 2019-2022 (USD Billion)
Table 104 Spain: Machine Tools Market, by Automation, 2023-2030 (USD Billion)
10.3.7 Switzerland
10.3.7.1 Demand for High-Precision Components to Boost Swiss Cnc Machines Tools Market
Table 105 Switzerland: Machine Tools Market, by Automation, 2019-2022 (USD Billion)
Table 106 Switzerland: Machine Tools Market, by Automation, 2023-2030 (USD Billion)
10.3.8 Turkey
10.3.8.1 Metal Fabrication and Automotive & Transportation Industries to Drive Demand for Turkish Cnc Machine Tools Market
Table 107 Turkey: Machine Tools Market, by Automation, 2019-2022 (USD Billion)
Table 108 Turkey: Machine Tools Market, by Automation, 2023-2030 (USD Billion)
10.4 North America
10.4.1 North America: Recession Impact
Figure 44 North America: Machine Tools Market Snapshot
Table 109 North America: Machine Tools Market, by Country, 2019-2022 (USD Billion)
Table 110 North America: Machine Tools Market, by Country, 2023-2030 (USD Billion)
10.4.2 US
10.4.2.1 Rising Demand for Industrial Automation and Technological Advancements in Manufacturing Sector to Propel Market
Table 111 US: Machine Tools Market, by Automation, 2019-2022 (USD Billion)
Table 112 US: Machine Tools Market, by Automation, 2023-2030 (USD Billion)
10.4.3 Canada
10.4.3.1 Increasing Production of Highly Precise Components in Various Industries to Spur Market Expansion
Table 113 Canada: Machine Tools Market, by Automation, 2019-2022 (USD Billion)
Table 114 Canada: Machine Tools Market, by Automation, 2023-2030 (USD Billion)
10.4.4 Mexico
10.4.4.1 Rapid Growth of Automotive Industry to Drive Market
Table 115 Mexico: Machine Tools Market, by Automation, 2019-2022 (USD Billion)
Table 116 Mexico: Machine Tools Market, by Automation, 2023-2030 (USD Billion)
10.5 Rest of the World
10.5.1 Rest of the World: Recession Impact
Figure 45 Russia to Account for Largest Market Share During Forecast Period
Table 117 Rest of the World: Machine Tools Market, by Country, 2019-2022 (USD Billion)
Table 118 Rest of the World: Machine Tools Market, by Country, 2023-2030 (USD Billion)
10.5.2 Russia
10.5.2.1 Decrease in Import of Necessary Raw Materials and Finished Machinery Impacting the Market Growth
Table 119 Russia: Machine Tools Market, by Automation, 2019-2022 (USD Billion)
Table 120 Russia: Machine Tools Market, by Automation, 2023-2030 (USD Billion)
10.5.3 Brazil
10.5.3.1 Emergence in Manufacturing Sector to Drive Market
Table 121 Brazil: Machine Tools Market, by Automation, 2019-2022 (USD Billion)
Table 122 Brazil: Machine Tools Market, by Automation, 2023-2030 (USD Billion)
11 Competitive Landscape
11.1 Overview
11.2 Key Player Strategies
Table 123 Overview of Strategies Adopted by Players in Machine Tools Market
11.3 Market Ranking Analysis
Table 124 Market Ranking Analysis, 2023
11.3.1 Makino Inc.
11.3.2 Jtekt Corporation
11.3.3 Okuma Corporation
11.3.4 Dmg Mori
11.3.5 Dn Solutions
11.4 Company Valuation and Financial Metrics
11.4.1 Company Valuation, 2023
Figure 46 Company Valuation, 2023
11.4.2 Company Financial Metrics, 2023
Figure 47 Company Financial Metrics, 2023
11.5 Revenue Analysis of Top Listed/Public Players
Figure 48 Top Public/Listed Players Dominating Machine Tools Market, 2018-2022
11.6 Competitive Scenario
11.6.1 New Product Launches/Developments
Table 125 Machine Tools Market: Product Launches/Developments, March 2021-October 2023
11.6.2 Deals
Table 126 Machine Tools Market: Deals, April 2021-September 2023
11.6.3 Expansions
Table 127 Machine Tools Market: Expansions, June 2021-November 2023
11.7 Product Comparison
Table 128 Machine Tools Market: Product Comparison
11.8 Company Evaluation Matrix
11.8.1 Stars
11.8.2 Emerging Leaders
11.8.3 Pervasive Players
11.8.4 Participants
11.8.5 Company Footprint
Table 129 Machine Tools Market: Company Footprint, 2023
Table 130 Machine Tools Market: Product Footprint, 2023
Table 131 Machine Tools Market: Regional Footprint, 2023
Figure 49 Machine Tools Market: Company Evaluation Matrix, 2023
11.9 Start-Up/SME Evaluation Matrix
11.9.1 Progressive Companies
11.9.2 Responsive Companies
11.9.3 Dynamic Companies
11.9.4 Starting Blocks
11.9.5 Competitive Benchmarking
Table 132 Machine Tools Market: Key Start-Ups/SMEs
Table 133 Machine Tools Market: Competitive Benchmarking of Key Start-Ups/SMEs
Figure 50 Machine Tools Market: Start-Up/SME Evaluation Matrix, 2023
12 Company Profiles
12.1 Key Players
(Business Overview, Products Offered, Recent Developments, and Analyst's View (Key Strengths/Right to Win, Strategic Choices Made, and Weaknesses and Competitive Threats))*
12.1.1 Makino Inc.
Table 134 Makino Inc.: Company Overview
Figure 51 Makino Inc.: Company Snapshot
Table 135 Makino Inc.: Products Offered
Table 136 Makino Inc.: Product Launches/Developments
Table 137 Makino Inc.: Deals
12.1.2 Jtekt Corporation
Table 138 Jtekt Corporation: Company Overview
Figure 52 Jtekt Corporation: Company Snapshot
Table 139 Jtekt Corporation: Products Offered
Table 140 Jtekt Corporation: Product Launches/Developments
Table 141 Jtekt Corporation: Deals
Table 142 Jtekt Corporation: Expansions
12.1.3 Okuma Corporation
Table 143 Okuma Corporation: Company Overview
Figure 53 Okuma Corporation: Company Snapshot
Table 144 Okuma Corporation: Products Offered
Table 145 Okuma Corporation: Product Launches/Developments
Table 146 Okuma Corporation: Deals
12.1.4 Dmg Mori
Table 147 Dmg Mori: Company Overview
Figure 54 Dmg Mori: Company Snapshot
Figure 55 Financial Performance Target for 2025 (USD Billion)
Table 148 Dmg Mori: Products Offered
Table 149 Dmg Mori: Product Launches/Developments
Table 150 Dmg Mori: Deals
12.1.5 Dn Solutions
Table 151 Dn Solutions: Company Overview
Figure 56 Dn Solutions: Company Snapshot
Table 152 Dn Solutions: Products Offered
Table 153 Dn Solutions: Product Launches/Developments
Table 154 Dn Solutions: Deals
Table 155 Dn Solutions: Expansions
12.1.6 Georg Fischer Ltd.
Table 156 Georg Fischer Ltd.: Company Overview
Figure 57 Georg Fischer Ltd.: Company Snapshot
Table 157 Georg Fischer Ltd.: Products Offered
Table 158 Georg Fischer Ltd.: Deals
Table 159 Georg Fischer Ltd.: Expansions
12.1.7 Amada Co. Ltd.
Table 160 Amada Co. Ltd.: Company Overview
Figure 58 Amada Co. Ltd.: Company Snapshot
Figure 59 Amada Co. Ltd.: Company Footprint
Table 161 Amada Co. Ltd.: Products Offered
Table 162 Amada Co. Ltd.: Product Launches/Developments
Table 163 Amada Co. Ltd.: Deals
12.1.8 Hyundai Wia Corp.
Table 164 Hyundai Wia Corp.: Company Overview
Figure 60 Hyundai Wia Corp.: Company Snapshot
Figure 61 Hyundai Wia Corp.: Share in South Korean Machine Tools Market
Table 165 Hyundai Wia Corp.: Products Offered
Table 166 Hyundai Wia Corp.: Product Launches/Developments
Table 167 Hyundai Wia Corp.: Deals
12.1.9 Yamazaki Mazak Corporation
Table 168 Yamazaki Mazak Corporation: Company Overview
Table 169 Yamazaki Mazak Corporation: Products Offered
Table 170 Yamazaki Mazak Corporation: Expansions
12.1.10 Chiron Group SE
Table 171 Chiron Group SE: Company Overview
Figure 62 Chiron Group SE: Incoming Orders
Table 172 Chiron Group SE: Products Offered
Table 173 Chiron Group SE: Product Launches/Developments
Table 174 Chiron Group SE: Deals
12.1.11 Komatsu Ntc
Table 175 Komatsu Ntc: Company Overview
Figure 63 Komatsu Ntc: Company Geographic Presence
Table 176 Komatsu Ntc: Products Offered
Table 177 Komatsu Ntc: Product Launches/Developments
12.1.12 HaaS Automation, Inc.
Table 178 HaaS Automation, Inc.: Company Overview
Table 179 HaaS Automation, Inc.: Products Offered
12.1.13 General Technology Group Dalian Machine Tool Co. Ltd.
Table 180 General Technology Dalian Machine Tool Co. Ltd.: Company Overview
Table 181 General Technology Dalian Machine Tool Co. Ltd.: Products Offered
Table 182 General Technology Dalian Machine Tool Co. Ltd.: Product Launches/Developments
Table 183 General Technology Dalian Machine Tool Co. Ltd.: Expansions
12.1.14 United Grinding Group
Table 184 United Grinding Group: Company Overview
Table 185 United Grinding Group: Products Offered
Table 186 United Grinding Group: Expansions
12.1.15 Index-Werke GmbH & Co. KG Hahn & Tessky
Table 187 Index-Werke GmbH & Co. KG Hahn & Tessky: Company Overview
Table 188 Index-Werke GmbH & Co. KG Hahn & Tessky: Products Offered
12.1.16 Citizen Machinery Co. Ltd.
Table 189 Citizen Machinery Co. Ltd.: Company Overview
Table 190 Citizen Machinery Co. Ltd.: Products Offered
Table 191 Citizen Machinery Co. Ltd.: Product Launches/Developments
12.2 Other Players
12.2.1 Ffg European & American Holdings GmbH
Table 192 Ffg European & American Holdings GmbH: Company Overview
12.2.2 Hmt Machine Tools Limited
Table 193 Hmt Machine Tools Limited: Company Overview
12.2.3 Spinner Werkzeugmaschinenfabrik GmbH
Table 194 Spinner Werkzeugmaschinenfabrik GmbH: Company Overview
12.2.4 Gleason Corporation
Table 195 Gleason Corporation: Company Overview
12.2.5 Grob-Werke GmbH & Co. KG
Table 196 Grob-Werke GmbH & Co. KG: Company Overview
12.2.6 Blaser Swisslube
Table 197 Blaser Swisslube: Company Overview
12.2.7 Castrol Limited
Table 198 Castrol Limited: Company Overview
12.2.8 Quaker Houghton
Table 199 Quaker Houghton: Company Overview
12.2.9 Schuler AG
Table 200 Schuler AG: Company Overview
12.2.10 Electronica Hi-Tech Engineering Pvt. Ltd.
Table 201 Electronica Hi-Tech Engineering Pvt. Ltd.: Company Overview
12.2.11 Acemicromatic Group
Table 202 Acemicromatic Group: Company Overview
12.2.12 Tungaloy Corporation
Table 203 Tungaloy Corporation: Company Overview
12.2.13 Machine Tools India Limited
Table 204 Machine Tools India Limited: Company Overview
*Details on Business Overview, Products Offered, Recent Developments, and Analyst's View (Key Strengths/Right to Win, Strategic Choices Made, and Weaknesses and Competitive Threats) Might Not be Captured in Case of Unlisted Companies
13 Analyst's Recommendations
13.1 Rising Development of Cnc Machines in Manufacturing Plants to Reduce Operating Costs and Increase Production Efficiency
13.2 Asia-Pacific to be Fastest-Growing Market During Forecast Period
13.3 Rising Demand for Advanced Turning Machines to Drive Market
13.4 Conclusion
14 Appendix
14.1 Key Insights from Industry Experts
14.2 Discussion Guide
14.3 Knowledgestore: The Subscription Portal
14.4 Customization Options
14.4.1 Additional Company Profiles (Up to 5)
14.4.2 Machine Tools Market, by End-user Industry, at Country Level
14.4.3 Machine Tools Market, by Automation, at Country Level

Companies Mentioned

  • Makino Inc.
  • Jtekt Corporation
  • Okuma Corporation
  • Dmg Mori
  • Dn Solutions
  • Georg Fischer Ltd.
  • Amada Co. Ltd.
  • Hyundai Wia Corp.
  • Yamazaki Mazak Corporation
  • Chiron Group SE
  • Komatsu Ntc
  • HaaS Automation, Inc.
  • General Technology Group Dalian Machine Tool Co. Ltd.
  • United Grinding Group
  • Index-Werke GmbH & Co. KG Hahn & Tessky
  • Citizen Machinery Co. Ltd.
  • Ffg European & American Holdings GmbH
  • Hmt Machine Tools Limited
  • Spinner Werkzeugmaschinenfabrik GmbH
  • Gleason Corporation
  • Grob-Werke GmbH & Co. KG
  • Blaser Swisslube
  • Castrol Limited
  • Quaker Houghton
  • Schuler AG
  • Electronica Hi-Tech Engineering Pvt. Ltd.
  • Acemicromatic Group
  • Tungaloy Corporation
  • Machine Tools India Limited

Table Information

Report AttributeDetails
No. of Pages255
PublishedFebruary 2024
Forecast Period2023 - 2030
Estimated Market Value ( USD ) in 2023 $ 78.6 Billion
Forecasted Market Value ( USD ) by 2030 $ 104.7 Billion
Compound Annual Growth Rate4.2%
Regions CoveredGlobal
No. of Companies Mentioned29

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