List of Tables
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-Use Industry
Table 5 Inclusions and Exclusions of Study
Table 6 Currency Exchange Rates (Per USD)
Table 7 Recent Regional Manufacturing Investments Supporting Machine Tool Demand, 2025-2026
Table 8 Leading Machine Tool Manufacturers Expanding High-End Cnc Capabilities for Precision Manufacturing, 2025-2026
Table 9 Factors Increasing Capital Investment Requirements for Advanced Machine Tools
Table 10 Business Transformation Through Subscription-Based Digital Services for Machine Tool Oems
Table 11 Impact of Market Dynamics
Table 12 Strategic Moves by Tier 1/2/3 Players
Table 13 GDP Percentage Change, by Country, 2021-2030
Table 14 Price Range of Machine Tools Offered by Key Players, 2025 (USD)
Table 15 Price Trend of Machine Tools, by Product Type, 2023-2025 (USD)
Table 16 Price Trend of Machine Tools, by Region, 2023-2025 (USD)
Table 17 Role of Companies in Ecosystem
Table 18 Hurco Europe Enhanced Rapid Prototype Manufacturing for Cirlce GmbH
Table 19 Hurco Cnc Machines Increased Manufacturing Productivity for Jones Nuttall
Table 20 Datron Facilitated Efficient in-House Prototyping for P-Q Controls
Table 21 Danobat Advanced High-Precision Grinding for Hyperion Materials & Technologies
Table 22 Danobat Delivered Customized Grinding Machines for Grupos Diferenciales
Table 23 Man Diesel & Turbo Implemented High-Precision Grinding Machines for Turbo-Compressors
Table 24 Starrag Advanced Flexible Manufacturing for Aerospace Turbine Blade Production
Table 25 Gf Machining Solutions Enhanced Medical Implant Manufacturing Through High-Precision Machining
Table 26 Import Data for Hs Code 8458-Compliant Products, by Country, 2021-2025 (USD Billion)
Table 27 Export Data for Hs Code 8458-Compliant Products, by Country, 2021-2025
Table 28 Recent Automotive Oem Greenfield Manufacturing Investments
Table 29 Global Battery Gigafactory Capacity Expansion Supporting Machine Tool Demand
Table 30 Aerospace Manufacturing Trends Influencing Machine Tool Demand
Table 31 Recent Strategic Aerospace Manufacturing Deals
Table 32 Defense Manufacturing Priorities Supporting Machine Tool Adoption
Table 33 Recent Strategic Defense Company Deals
Table 34 Precision Manufacturing Requirements Across Medical Devices
Table 35 Recent Strategic Medical Device Company Deals
Table 36 Strategic Evolution of Future Revenue Pools
Table 37 Patent Analysis, January 2024-June 2026
Table 38 Top AI Use Cases in Machine Tools Market
Table 39 Best Practices Followed by Manufacturers/Oems in Machine Tools Market
Table 40 AI Implementation Case Studies
Table 41 AI-Driven Ecosystem in Machine Tools Market
Table 42 AI-Adoption Readiness Across End Users
Table 43 AI Readiness Assessment
Table 44 Key Conferences and Events, 2026-2027
Table 45 Import Tariffs on Machine Tools and Critical Components in India
Table 46 Impact of Trade Liberalization on Machine Tool Imports Into India
Table 47 Impact of Trade Liberalization on Machine Tool Exports From India
Table 48 Key Software Categories Supporting Machine Tools
Table 49 Key Trends Influencing Machine Tool Software Market
Table 50 North America: Regulatory Bodies, Government Agencies, and Other Organizations
Table 51 Europe: Regulatory Bodies, Government Agencies, and Other Organizations
Table 52 Asia-Pacific: Regulatory Bodies, Government Agencies, and Other Organizations
Table 53 Rest of the World: Regulatory Bodies, Government Agencies, and Other Organizations
Table 54 Asia-Pacific: Regulations/Voluntary Procedures for Machine Tools
Table 55 Europe: Regulations/Voluntary Procedures for Machine Tools
Table 56 North America: Regulations/Voluntary Procedures for Machine Tools
Table 57 Rest of the World: Regulations/Voluntary Procedures for Machine Tools
Table 58 Influence of Stakeholders on Buying Process, by Product Type
Table 59 Key Buying Criteria, by Product Type
Table 60 Unmet Needs in Machine Tools Market, by End-Use Industry
Table 61 Machine Tools Market, by Product Type, 2022-2025 (USD Billion)
Table 62 Machine Tools Market, by Product Type, 2026-2033 (USD Billion)
Table 63 Milling Machine Tools Market, by Region, 2022-2025 (USD Billion)
Table 64 Milling Machine Tools Market, by Region, 2026-2033 (USD Billion)
Table 65 List of 4- and 5-Axis Milling Machines
Table 66 Milling Machine Tools Market, by Axis Type, 2022-2025 (USD Billion)
Table 67 Milling Machine Tools Market, by Axis Type, 2026-2033 (USD Billion)
Table 68 Drilling Machine Tools Market, by Region, 2022-2025 (USD Billion)
Table 69 Drilling Machine Tools Market, by Region, 2026-2033 (USD Billion)
Table 70 Turning Machine Tools Market, by Region, 2022-2025 (USD Billion)
Table 71 Turning Machine Tools Market, by Region, 2026-2033 (USD Billion)
Table 72 Turning Machine Tools Market, by Type, 2022-2025 (USD Billion)
Table 73 Turning Machine Tools Market, by Type, 2026-2033 (USD Billion)
Table 74 Grinding Machine Tools Market, by Region, 2022-2025 (USD Billion)
Table 75 Grinding Machine Tools Market, by Region, 2026-2033 (USD Billion)
Table 76 Electrical Discharge Machine Tools Market, by Region, 2022-2025 (USD Billion)
Table 77 Electrical Discharge Machine Tools Market, by Region, 2026-2033 (USD Billion)
Table 78 Machining Center Tools Market, by Region, 2022-2025 (USD Billion)
Table 79 Machining Center Tools Market, by Region, 2026-2033 (USD Billion)
Table 80 Other Machine Tools Market, by Region, 2022-2025 (USD Billion)
Table 81 Other Machine Tools Market, by Region, 2026-2033 (USD Billion)
Table 82 Machine Tools Market, by Automation, 2022-2025 (USD Billion)
Table 83 Machine Tools Market, by Automation, 2026-2033 (USD Billion)
Table 84 Cnc Machine Tools Market, by Region, 2022-2025 (USD Billion)
Table 85 Cnc Machine Tools Market, by Region, 2026-2033 (USD Billion)
Table 86 Conventional Machine Tools Market, by Region, 2022-2025 (USD Billion)
Table 87 Conventional Machine Tools Market, by Region, 2026-2033 (USD Billion)
Table 88 Machine Tools Market, by Sales Channel, 2022-2025 (USD Billion)
Table 89 Machine Tools Market, by Sales Channel, 2026-2033 (USD Billion)
Table 90 Direct Sales: Machine Tools Market, by Region, 2022-2025 (USD Billion)
Table 91 Direct Sales: Machine Tools Market, by Region, 2026-2033 (USD Billion)
Table 92 Events & Exhibitions: Machine Tools Market, by Region, 2022-2025 (USD Billion)
Table 93 Events & Exhibitions: Machine Tools Market, by Region, 2026-2033 (USD Billion)
Table 94 Dealers & Distributors: Machine Tools Market, by Region, 2022-2025 (USD Billion)
Table 95 Dealers & Distributors: Machine Tools Market, by Region, 2026-2033 (USD Billion)
Table 96 Machine Tools Market, by End-Use Industry, 2022-2025 (USD Billion)
Table 97 Machine Tools Market, by End-Use Industry, 2026-2033 (USD Billion)
Table 98 Aerospace: Machine Tools Market, by Region, 2022-2025 (USD Billion)
Table 99 Aerospace: Machine Tools Market, by Region, 2026-2033 (USD Billion)
Table 100 Medical: Machine Tools Market, by Region, 2022-2025 (USD Billion)
Table 101 Medical: Machine Tools Market, by Region, 2026-2033 (USD Billion)
Table 102 Semiconductor: Machine Tools Market, by Region, 2022-2025 (USD Billion)
Table 103 Semiconductor: Machine Tools Market, by Region, 2026-2033 (USD Billion)
Table 104 Automotive & Transportation: Machine Tools Market, by Region, 2022-2025 (USD Billion)
Table 105 Automotive & Transportation: Machine Tools Market, by Region, 2026-2033 (USD Billion)
Table 106 Capital Goods: Machine Tools Market, by Region, 2022-2025 (USD Billion)
Table 107 Capital Goods: Machine Tools Market, by Region, 2026-2033 (USD Billion)
Table 108 Energy & Power: Machine Tools Market, by Region, 2022-2025 (USD Billion)
Table 109 Energy & Power: Machine Tools Market, by Region, 2026-2033 (USD Billion)
Table 110 Sheet Metal: Machine Tools Market, by Region, 2022-2025 (USD Billion)
Table 111 Sheet Metal: Machine Tools Market, by Region, 2026-2033 (USD Billion)
Table 112 Other End-Use Industries: Machine Tools Market, by Region, 2022-2025 (USD Billion)
Table 113 Other End-Use Industries: Machine Tools Market, by Region, 2026-2033 (USD Billion)
Table 114 Machine Tools Market, by Region, 2022-2025 (USD Billion)
Table 115 Machine Tools Market, by Region, 2026-2033 (USD Billion)
Table 116 Asia-Pacific: Machine Tools Market, by Country, 2022-2025 (USD Billion)
Table 117 Asia-Pacific: Machine Tools Market, by Country, 2026-2033 (USD Billion)
Table 118 China: Machine Tools Market, by Automation, 2022-2025 (USD Billion)
Table 119 China: Machine Tools Market, by Automation, 2026-2033 (USD Billion)
Table 120 Japan: Machine Tools Market, by Automation, 2022-2025 (USD Billion)
Table 121 Japan: Machine Tools Market, by Automation, 2026-2033 (USD Billion)
Table 122 South Korea: Machine Tools Market, by Automation, 2022-2025 (USD Billion)
Table 123 South Korea: Machine Tools Market, by Automation, 2026-2033 (USD Billion)
Table 124 India: Machine Tools Market, by Automation, 2022-2025 (USD Billion)
Table 125 India: Machine Tools Market, by Automation, 2026-2033 (USD Billion)
Table 126 Thailand: Machine Tools Market, by Automation, 2022-2025 (USD Billion)
Table 127 Thailand: Machine Tools Market, by Automation, 2026-2033 (USD Billion)
Table 128 Taiwan: Machine Tools Market, by Automation, 2022-2025 (USD Billion)
Table 129 Taiwan: Machine Tools Market, by Automation, 2026-2033 (USD Billion)
Table 130 Vietnam: Machine Tools Market, by Automation, 2022-2025 (USD Billion)
Table 131 Vietnam: Machine Tools Market, by Automation, 2026-2033 (USD Billion)
Table 132 Malaysia: Machine Tools Market, by Automation, 2022-2025 (USD Billion)
Table 133 Malaysia: Machine Tools Market, by Automation, 2026-2033 (USD Billion)
Table 134 Rest of Asia-Pacific: Machine Tools Market, by Automation, 2022-2025 (USD Billion)
Table 135 Rest of Asia-Pacific: Machine Tools Market, by Automation, 2026-2033 (USD Billion)
Table 136 Europe: Machine Tools Market, by Country, 2022-2025 (USD Billion)
Table 137 Europe: Machine Tools Market, by Country, 2026-2033 (USD Billion)
Table 138 UK: Machine Tools Market, by Automation, 2022-2025 (USD Billion)
Table 139 UK: Machine Tools Market, by Automation, 2026-2033 (USD Billion)
Table 140 Germany: Machine Tools Market, by Automation, 2022-2025 (USD Billion)
Table 141 Germany: Machine Tools Market, by Automation, 2026-2033 (USD Billion)
Table 142 France: Machine Tools Market, by Automation, 2022-2025 (USD Billion)
Table 143 France: Machine Tools Market, by Automation, 2026-2033 (USD Billion)
Table 144 Italy: Machine Tools Market, by Automation, 2022-2025 (USD Billion)
Table 145 Italy: Machine Tools Market, by Automation, 2026-2033 (USD Billion)
Table 146 Spain: Machine Tools Market, by Automation, 2022-2025 (USD Billion)
Table 147 Spain: Machine Tools Market, by Automation, 2026-2033 (USD Billion)
Table 148 Switzerland: Machine Tools Market, by Automation, 2022-2025 (USD Billion)
Table 149 Switzerland: Machine Tools Market, by Automation, 2026-2033 (USD Billion)
Table 150 Turkey: Machine Tools Market, by Automation, 2022-2025 (USD Billion)
Table 151 Turkey: Machine Tools Market, by Automation, 2026-2033 (USD Billion)
Table 152 North America: Machine Tools Market, by Country, 2022-2025 (USD Billion)
Table 153 North America: Machine Tools Market, by Country, 2026-2033 (USD Billion)
Table 154 US: Machine Tools Market, by Automation, 2022-2025 (USD Billion)
Table 155 US: Machine Tools Market, by Automation, 2026-2033 (USD Billion)
Table 156 Canada: Machine Tools Market, by Automation, 2022-2025 (USD Billion)
Table 157 Canada: Machine Tools Market, by Automation, 2026-2033 (USD Billion)
Table 158 Mexico: Machine Tools Market, by Automation, 2022-2025 (USD Billion)
Table 159 Mexico: Machine Tools Market, by Automation, 2026-2033 (USD Billion)
Table 160 Rest of the World: Machine Tools Market, by Country, 2022-2025 (USD Billion)
Table 161 Rest of the World: Machine Tools Market, by Country, 2026-2033 (USD Billion)
Table 162 Russia: Machine Tools Market, by Automation, 2022-2025 (USD Billion)
Table 163 Russia: Machine Tools Market, by Automation, 2026-2033 (USD Billion)
Table 164 Brazil: Machine Tools Market, by Automation, 2022-2025 (USD Billion)
Table 165 Brazil: Machine Tools Market, by Automation, 2026-2033 (USD Billion)
Table 166 Key Player Strategies/Right to Win, January 2022-June 2026
Table 167 Market Share Analysis of Key Players, 2025
Table 168 Machine Tools Market: Region Footprint
Table 169 Machine Tools Market: Product Type Footprint
Table 170 Machine Tools Market: Sales Channel Footprint
Table 171 Machine Tools Market: Detailed List of Key Startups/SMEs
Table 172 Machine Tools Market: Competitive Benchmarking of Key Startups/SMEs
Table 173 Machine Tools Market: Product Launches/Developments, January 2022-June 2026
Table 174 Machine Tools Market: Deals, January 2022-June 2026
Table 175 Machine Tools Market: Expansions, January 2022-June 2026
Table 176 Machine Tools Market: Other Developments, January 2022-June 2026
Table 177 Makino Inc.: Company Overview
Table 178 Makino Inc.: Products Offered
Table 179 Makino Inc.: Product Launches/Developments
Table 180 Makino Inc.: Deals
Table 181 Makino Inc.: Expansions
Table 182 Jtekt Corporation: Company Overview
Table 183 Jtekt Corporation: Products Offered
Table 184 Jtekt Corporation: Product Launches/Developments
Table 185 Jtekt Corporation: Deals
Table 186 Jtekt Corporation: Other Developments
Table 187 Okuma Corporation: Company Overview
Table 188 Okuma Corporation: Products Offered
Table 189 Okuma Corporation: Product Launches/Developments
Table 190 Okuma Corporation: Deals
Table 191 Okuma Corporation: Expansions
Table 192 Okuma Corporation: Other Developments
Table 193 Dmg Mori: Company Overview
Table 194 Dmg Mori: Products Offered
Table 195 Dmg Mori: Product Launches/Developments
Table 196 Dmg Mori: Deals
Table 197 Dmg Mori: Expansions
Table 198 Dmg Mori: Other Developments
Table 199 Dn Solutions: Company Overview
Table 200 Dn Solutions: Products Offered
Table 201 Dn Solutions: Product Launches/Developments
Table 202 Dn Solutions: Deals
Table 203 Dn Solutions: Expansions
Table 204 Dn Solutions: Other Developments
Table 205 Amada Co. Ltd.: Company Overview
Table 206 Amada Co. Ltd.: Products Offered
Table 207 Amada Co. Ltd.: Product Launches/Developments
Table 208 Amada Co. Ltd.: Deals
Table 209 Amada Co. Ltd.: Expansions
Table 210 Amada Co. Ltd.: Other Developments
Table 211 Yamazaki Mazak Corporation: Company Overview
Table 212 Yamazaki Mazak Corporation: Products Offered
Table 213 Yamazaki Mazak Corporation: Product Launches/Developments
Table 214 Yamazaki Mazak Corporation: Expansions
Table 215 Yamazaki Mazak Corporation: Other Developments
Table 216 Chiron Group SE: Company Overview
Table 217 Chiron Group SE: Products Offered
Table 218 Chiron Group SE: Product Launches/Developments
Table 219 Chiron Group SE: Deals
Table 220 Chiron Group SE: Other Developments
Table 221 Komatsu Ntc: Company Overview
Table 222 Komatsu Ntc: Products Offered
Table 223 Komatsu Ntc: Product Launches/Developments
Table 224 Komatsu Ntc: Other Developments
Table 225 Haas Automation, Inc.: Company Overview
Table 226 Haas Automation, Inc.: Products Offered
Table 227 Haas Automation, Inc.: Other Developments
Table 228 General Technology Dalian Machine Tool Co. Ltd.: Company Overview
Table 229 General Technology Dalian Machine Tool Co. Ltd.: Products Offered
Table 230 General Technology Dalian Machine Tool Co. Ltd.: Product Launches/Developments
Table 231 General Technology Dalian Machine Tool Co. Ltd.: Expansions
Table 232 General Technology Dalian Machine Tool Co. Ltd.: Other Developments
Table 233 United Grinding Group: Company Overview
Table 234 United Grinding Group: Products Offered
Table 235 United Grinding Group: Product Launches/Developments
Table 236 United Grinding Group: Deals
Table 237 United Grinding Group: Expansions
Table 238 United Grinding Group: Other Developments
Table 239 Index-Werke GmbH & Co. KG Hahn & Tessky: Company Overview
Table 240 Index-Werke GmbH & Co. KG Hahn & Tessky: Products Offered
Table 241 Index-Werke GmbH & Co. KG Hahn & Tessky: Product Launches/Developments
Table 242 Citizen Machinery Co. Ltd.: Company Overview
Table 243 Citizen Machinery Co. Ltd.: Products Offered
Table 244 Citizen Machinery Co. Ltd.: Product Launches/Developments
Table 245 Citizen Machinery Co. Ltd.: Expansions
Table 246 Emag GmbH & Co. KG: Company Overview
Table 247 Emag GmbH & Co. KG: Products Offered
Table 248 Emag GmbH & Co. KG.: Product Launches/Developments
Table 249 Emag GmbH & Co. KG: Expansions
Table 250 Emag GmbH & Co. KG: Other Developments
Table 251 Shenyang Machine Tool Co. Ltd.: Company Overview
Table 252 Shenyang Machine Tool Co. Ltd.: Products Offered
Table 253 Shenyang Machine Tool Co. Ltd.: Product Launches/Developments
Table 254 Shenyang Machine Tool Co. Ltd.: Deals
Table 255 Shenyang Machine Tool Co. Ltd.: Other Developments
Table 256 Ffg European & American Holdings GmbH: Company Overview
Table 257 Hmt Machine Tools Limited: Company Overview
Table 258 Spinner Werkzeugmaschinenfabrik GmbH: Company Overview
Table 259 Gleason Corporation: Company Overview
Table 260 Grob-Werke GmbH & Co. KG: Company Overview
Table 261 Blaser Swisslube: Company Overview
Table 262 Castrol Limited: Company Overview
Table 263 Quaker Houghton: Company Overview
Table 264 Schuler AG: Company Overview
Table 265 Electronica Hi-Tech Engineering Pvt. Ltd.: Company Overview
Table 266 Ace Micromatic Group: Company Overview
Table 267 Tungaloy Corporation: Company Overview
Table 268 Machine Tools India Limited: Company Overview
Table 269 Isembard Machine Tools: Company Overview
Table 270 Manukai AG: Company Overview
Table 271 Ipercept Technology: Company Overview
List of Figures
Figure 1 Machine Tools Market Segmentation
Figure 2 Market Scenario
Figure 3 Global Machine Tools Market, 2022-2033
Figure 4 Major Strategies Adopted by Key Players in Machine Tools Market, 2022-2026
Figure 5 Disruptions Influencing Growth of Machine Tools Market
Figure 6 High-Growth Segments in Machine Tools Market, 2026-2033
Figure 7 Asia-Pacific to Lead Market During Forecast Period
Figure 8 Smart Manufacturing and Industrial Automation to Accelerate Market Growth
Figure 9 Asia-Pacific to Be Fastest-Growing Market for Machine Tools During Forecast Period
Figure 10 Machining Centers to Exhibit Fastest Growth During Forecast Period
Figure 11 Cnc Machine Tools to Account for Larger Market Share During Forecast Period
Figure 12 Dealers and Distributors to Secure Leading Position During Forecast Period
Figure 13 Automotive and Transportation Segment to Dominate Market During Forecast Period
Figure 14 Machine Tools Market Dynamics
Figure 15 Trends/Disruptions Impacting Customer Business
Figure 16 Price Trend of Machine Tools, by Product Type, 2023-2025
Figure 17 Price Trend of Machine Tools, by Region, 2023-2025
Figure 18 Ecosystem Analysis
Figure 19 Value Chain Analysis
Figure 20 Investment and Funding Scenario, 2022-2025
Figure 21 Import Data for Hs Code 8504-Compliant Products, by Country, 2021-2025
Figure 22 Export Data for Hs Code 8504-Compliant Products, by Country, 2021-2025 (USD Billion)
Figure 23 Industry 4.0 & Smart Factory Readiness Index, by End-Use Industry, 2026
Figure 24 Automation Capability Benchmarking of Leading Machine Tool Oems
Figure 25 Cnc Control Platform Benchmarking of Leading Machine Tool Oems
Figure 26 Global Manufacturing Footprint Benchmarking of Leading Machine Tool Oems
Figure 27 Patent Analysis, 2017-2026
Figure 28 System Architecture of Intelligent Numerical Controllers
Figure 29 Iot for Machine Tool Monitoring Solutions
Figure 30 Digital Twin for Cnc Machine Tools
Figure 31 Average Monthly Brent Spot Price Free on Board (Fob), April 2024-June 2026
Figure 32 Direct Impact of Israel-Iran Conflict on Machine Tools Market
Figure 33 Indirect Impact of Israel-Iran Conflict on Machine Tools Market
Figure 34 Future Roadmap of Multi-Axis Cnc Adoption
Figure 35 Machine Tool Software Market Size, 2026 Vs. 2033
Figure 36 Influence of Stakeholders on Buying Process, by Product Type
Figure 37 Key Buying Criteria, by Product Type
Figure 38 Machine Tools Market, by Product Type, 2026 Vs. 2033
Figure 39 Machine Tools Market, by Automation, 2026 Vs. 2033
Figure 40 Machine Tools Market, by Sales Channel, 2026 Vs. 2033
Figure 41 Machine Tools Market, by End-Use Industry, 2026 Vs. 2033
Figure 42 Machine Tools Market, by Region, 2026 Vs. 2033
Figure 43 Asia-Pacific: Machine Tools Market Snapshot
Figure 44 Europe: Machine Tools Market Snapshot
Figure 45 North America: Machine Tools Market Snapshot
Figure 46 Rest of the World: Machine Tools Market Snapshot
Figure 47 Market Share Analysis of Key Players, 2025
Figure 48 Company Valuation of Prominent Players
Figure 49 Financial Metrics of Prominent Players
Figure 50 Revenue Analysis of Top Five Players, 2021-2025
Figure 51 Brand Comparison
Figure 52 Machine Tools Market: Company Evaluation Matrix (Key Players), 2025
Figure 53 Machine Tools Market: Company Footprint
Figure 54 Machine Tools Market: Company Evaluation Market (Startups/SMEs), 2025
Figure 55 Makino Inc.: Company Snapshot
Figure 56 Jtekt Corporation: Company Snapshot
Figure 57 Okuma Corporation: Company Snapshot
Figure 58 Dmg Mori: Company Snapshot
Figure 59 Amada Co. Ltd.: Company Snapshot
Figure 60 Research Design
Figure 61 Research Design Model
Figure 62 Research Methodology: Hypothesis Building
Figure 63 Bottom-Up Approach
Figure 64 Top-Down Approach
Figure 65 Data Triangulation
Figure 66 Growth Projections From Demand-Side Drivers
Figure 67 Demand- and Supply-Side Factor Analysis