The global machine tools market size reached US$ 96.3 Billion in 2022. Looking forward, the publisher expects the market to reach US$ 129.0 Billion by 2028, exhibiting a CAGR of 4.99% during 2022-2028.
Machine tools refer to power-driven metal cutting or forming equipments used for metals or other hard materials. There is a wide variety of machine tools available in the market ranging from small workbench mounted instruments to large devices which are used in modern industries. They perform a range of operations such as cutting, forming, drilling, grinding, abrading and nibbling, which help to enhance product uniformity and reduce the human interaction required in different steps of the process. Over the years, the mode of operation of these tools has evolved from numerical control (NC) to computer numerical control (CNC) and direct numerical control (DNC). Manufacturers are also designing advanced machine tools to attain higher productivity.
Machine tools are used in a number of industries such as automotive, aerospace, electronics, precision engineering, etc. Continuous expansion in these industries along with the exploration of new oil and gas fields are the primary drivers for market growth. Moreover, the incorporation of 3D printing technology has aided in minimizing the amount of materials used for producing these tools in recent years. For instance, Yamazaki Mazak, a Japanese machine tool manufacturer, utilizes 3D printing in the production of its CNC machines. Apart from this, several companies are introducing automation into their manufacturing processes to increase their productivity and meet quality standards. This has led to an increase in their profit margins and positively impacted the regulation of resources. Besides this, vendors are also using modern design and simulation engineering softwares to ensure the sturdiness, accuracy and reliability of the machines.
Machine tools refer to power-driven metal cutting or forming equipments used for metals or other hard materials. There is a wide variety of machine tools available in the market ranging from small workbench mounted instruments to large devices which are used in modern industries. They perform a range of operations such as cutting, forming, drilling, grinding, abrading and nibbling, which help to enhance product uniformity and reduce the human interaction required in different steps of the process. Over the years, the mode of operation of these tools has evolved from numerical control (NC) to computer numerical control (CNC) and direct numerical control (DNC). Manufacturers are also designing advanced machine tools to attain higher productivity.
Machine tools are used in a number of industries such as automotive, aerospace, electronics, precision engineering, etc. Continuous expansion in these industries along with the exploration of new oil and gas fields are the primary drivers for market growth. Moreover, the incorporation of 3D printing technology has aided in minimizing the amount of materials used for producing these tools in recent years. For instance, Yamazaki Mazak, a Japanese machine tool manufacturer, utilizes 3D printing in the production of its CNC machines. Apart from this, several companies are introducing automation into their manufacturing processes to increase their productivity and meet quality standards. This has led to an increase in their profit margins and positively impacted the regulation of resources. Besides this, vendors are also using modern design and simulation engineering softwares to ensure the sturdiness, accuracy and reliability of the machines.
Key Market Segmentation:
The publisher provides an analysis of the key trends in each sub-segment of the global machine tools market report, along with forecasts at the global and regional level from 2023-2028. Our report has categorized the market based on tool type, technology type and end use industry.Breakup by Tool Type:
- Metal Cutting
- Metal Forming
- Accessories
Breakup by Technology Type:
- Conventional
- CNC (Computerized Numerical Control)
Breakup by End Use Industry:
- Automotive
- Aerospace and Defense
- Electrical and Electronics
- Consumer Goods
- Precision Engineering
- Others
Breakup by Region:
- Asia Pacific
- Europe
- North America
- Middle East and Africa
- Latin America
Competitive Landscape:
The report has also analysed the competitive landscape of the global machine tools market with some of the key players being Allied Machine & Engineering, AMADA Holdings, Dalian Machine Tool Group, DMG MORI, FALCON Machine Tools, 600 Group, Yamazaki Mazak, Trumpf, Komatsu, JTEKT, Doosan Machine Tools, Okuma, HYUNDAI WIA, Makino, Schuler, etc.Key Questions Answered in This Report:
- How has the global machine tools market performed so far and how will it perform in the coming years?
- What are the key regional markets in the global machine tools industry?
- What has been the impact of COVID-19 on the global machine tools industry?
- What is the breakup of the market based on the tool type?
- What is the breakup of the market based on the technology type?
- What is the breakup of the market based on the end use industry?
- What are the various stages in the value chain of the global machine tools industry?
- What are the key driving factors and challenges in the global machine tools industry?
- What is the structure of the global machine tools industry and who are the key players?
- What is the degree of competition in the global machine tools industry?
Frequently Asked Questions about the Global Machine Tools Market
What is the estimated value of the Global Machine Tools Market?
What is the growth rate of the Global Machine Tools Market?
What is the forecasted size of the Global Machine Tools Market?
Who are the key companies in the Global Machine Tools Market?
| Report Attribute | Details |
|---|---|
| No. of Pages | 122 |
| Published | March 2023 |
| Forecast Period | 2022 - 2028 |
| Estimated Market Value ( USD | $ 96.3 Billion |
| Forecasted Market Value ( USD | $ 129 Billion |
| Compound Annual Growth Rate | 4.9% |
| Regions Covered | Global |
| No. of Companies Mentioned | 15 |
Table of Contents
1 Preface2 Scope and Methodology
2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
2.3.1 Primary Sources
2.3.2 Secondary Sources
2.4 Market Estimation
2.4.1 Bottom-Up Approach
2.4.2 Top-Down Approach
2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
4.1 Overview
4.2 Key Industry Trends
5 Global Machine Tools Market
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Breakup by Tool Type
5.5 Market Breakup by Technology Type
5.6 Market Breakup by End Use Industry
5.7 Market Breakup by Region
5.8 Market Forecast
6 Market Breakup by Tool Type
6.1 Metal Cutting
6.1.1 Market Trends
6.1.2 Market Forecast
6.2 Metal Forming
6.2.1 Market Trends
6.2.2 Market Forecast
6.3 Accessories
6.3.1 Market Trends
6.3.2 Market Forecast
7 Market Breakup by Technology Type
7.1 Conventional
7.1.1 Market Trends
7.1.2 Market Forecast
7.2 CNC (Computerized Numerical Control)
7.2.1 Market Trends
7.2.2 Market Forecast
8 Market Breakup by End Use Industry
8.1 Automotive
8.1.1 Market Trends
8.1.2 Market Forecast
8.2 Aerospace and Defense
8.2.1 Market Trends
8.2.2 Market Forecast
8.3 Electrical and Electronics
8.3.1 Market Trends
8.3.2 Market Forecast
8.4 Consumer Goods
8.4.1 Market Trends
8.4.2 Market Forecast
8.5 Precision Engineering
8.5.1 Market Trends
8.5.2 Market Forecast
8.6 Others
8.6.1 Market Trends
8.6.2 Market Forecast
9 Market Breakup by Region
9.1 Asia Pacific
9.1.1 Market Trends
9.1.2 Market Forecast
9.2 Europe
9.2.1 Market Trends
9.2.2 Market Forecast
9.3 North America
9.3.1 Market Trends
9.3.2 Market Forecast
9.4 Middle East and Africa
9.4.1 Market Trends
9.4.2 Market Forecast
9.5 Latin America
9.5.1 Market Trends
9.5.2 Market Forecast
10 SWOT Analysis
10.1 Overview
10.2 Strengths
10.3 Weaknesses
10.4 Opportunities
10.5 Threats
11 Value Chain Analysis
12 Porter’s Five Forces Analysis
12.1 Overview
12.2 Bargaining Power of Buyers
12.3 Bargaining Power of Suppliers
12.4 Degree of Competition
12.5 Threat of New Entrants
12.6 Threat of Substitutes
13 Price Analysis
14 Competitive Landscape
14.1 Market Structure
14.2 Key Players
14.3 Profiles of Key Players
14.3.1 Allied Machine & Engineering
14.3.2 AMADA Holdings
14.3.3 Dalian Machine Tool Group
14.3.4 DMG MORI
14.3.5 FALCON Machine Tools
14.3.6 600 Group
14.3.7 Yamazaki Mazak
14.3.8 Trumpf
14.3.9 Komatsu
14.3.10 JTEKT
14.3.11 Doosan Machine Tools
14.3.12 Okuma
14.3.13 HYUNDAI WIA
14.3.14 Makino
14.3.15 Schuler
List of Figures
Figure 1: Global: Machine Tools Market: Major Drivers and Challenges
Figure 2: Global: Machine Tools Market: Sales Value (in Billion US$), 2017-2022
Figure 3: Global: Machine Tools Market: Breakup by Tool Type (in %), 2022
Figure 4: Global: Machine Tools Market: Breakup by Technology Type (in %), 2022
Figure 5: Global: Machine Tools Market: Breakup by End Use Industry (in %), 2022
Figure 6: Global: Machine Tools Market: Breakup by Region (in %), 2022
Figure 7: Global: Machine Tools Market Forecast: Sales Value (in Billion US$), 2023-2028
Figure 8: Global: Machine Tools Industry: SWOT Analysis
Figure 9: Global: Machine Tools Industry: Value Chain Analysis
Figure 10: Global: Machine Tools Industry: Porter’s Five Forces Analysis
Figure 11: Global: Machine Tools (Metal Cutting) Market: Sales Value (in Million US$), 2017 & 2022
Figure 12: Global: Machine Tools (Metal Cutting) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 13: Global: Machine Tools (Metal Forming) Market: Sales Value (in Million US$), 2017 & 2022
Figure 14: Global: Machine Tools (Metal Forming) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 15: Global: Machine Tools (Accessories) Market: Sales Value (in Million US$), 2017 & 2022
Figure 16: Global: Machine Tools (Accessories) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 17: Global: Machine Tools (Conventional Technology) Market: Sales Value (in Million US$), 2017 & 2022
Figure 18: Global: Machine Tools (Conventional Technology) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 19: Global: Machine Tools (CNC Technology) Market: Sales Value (in Million US$), 2017 & 2022
Figure 20: Global: Machine Tools (CNC Technology) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 21: Global: Machine Tools (Automotive) Market: Sales Value (in Million US$), 2017 & 2022
Figure 22: Global: Machine Tools (Automotive) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 23: Global: Machine Tools (Aerospace and Defense) Market: Sales Value (in Million US$), 2017 & 2022
Figure 24: Global: Machine Tools (Aerospace and Defense) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 25: Global: Machine Tools (Electrical and Electronics) Market: Sales Value (in Million US$), 2017 & 2022
Figure 26: Global: Machine Tools (Electrical and Electronics) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 27: Global: Machine Tools (Consumer Goods) Market: Sales Value (in Million US$), 2017 & 2022
Figure 28: Global: Machine Tools (Consumer Goods) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 29: Global: Machine Tools (Precision Engineering) Market: Sales Value (in Million US$), 2017 & 2022
Figure 30: Global: Machine Tools (Precision Engineering) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 31: Global: Machine Tools (Other Industries) Market: Sales Value (in Million US$), 2017 & 2022
Figure 32: Global: Machine Tools (Other Industries) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 33: Asia Pacific: Machine Tools Market: Sales Value (in Million US$), 2017 & 2022
Figure 34: Asia Pacific: Machine Tools Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 35: Europe: Machine Tools Market: Sales Value (in Million US$), 2017 & 2022
Figure 36: Europe: Machine Tools Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 37: North America: Machine Tools Market: Sales Value (in Million US$), 2017 & 2022
Figure 38: North America: Machine Tools Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 39: Middle East and Africa: Machine Tools Market: Sales Value (in Million US$), 2017 & 2022
Figure 40: Middle East and Africa: Machine Tools Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 41: Latin America: Machine Tools Market: Sales Value (in Million US$), 2017 & 2022
Figure 42: Latin America: Machine Tools Market Forecast: Sales Value (in Million US$), 2023-2028
List of Tables
Table 1: Global: Machine Tools Market: Key Industry Highlights, 2022 and 2028
Table 2: Global: Machine Tools Market Forecast: Breakup by Tool Type (in Million US$), 2023-2028
Table 3: Global: Machine Tools Market Forecast: Breakup by Technology Type (in Million US$), 2023-2028
Table 4: Global: Machine Tools Market Forecast: Breakup by End Use Industry (in Million US$), 2023-2028
Table 5: Global: Machine Tools Market Forecast: Breakup by Region (in Million US$), 2023-2028
Table 6: Global: Machine Tools Market Structure
Table 7: Global: Machine Tools Market: Key Players
Companies Mentioned
- Allied Machine & Engineering
- AMADA Holdings
- Dalian Machine Tool Group
- DMG MORI
- FALCON Machine Tools
- 600 Group
- Yamazaki Mazak
- Trumpf
- Komatsu
- JTEKT
- Doosan Machine Tools
- Okuma
- HYUNDAI WIA
- Makino
- Schuler
Methodology
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