Machine Tools Market Size & Share Analysis - Trends, Drivers, Competitive Landscape, and Forecasts (2024-2030)

Description

Market Overview

In 2023, the machine tools industry generated income of USD 78.8 billion in 2023, which is projected to experience a CAGR of 4.4% over the forecast period, to attain USD 105.6 billion by the end of the decade. This is primarily attributable to the fact that the precision and proficiency in making are the key indicators for minimum wastage and alteration. Machine tool, which has a very high precision level, can help to avoid material wastages and cost reduction at the time of assembly of the part.

The major reason for the growth of automation and robotics in machining technologies can be identified in the weak workforce in the high-level manufacturing industry of the developed countries and greater use of these techniques in the aerospace, defense, medical device, marine and other sectors.

The progress of Industry 4.0 has conversed multiple innovations like artificial intelligence, big data, robots and automation, allowing more efficacy, productivity and flexibility across major sectors. One of the factors, which increased the use of machine tools in the metal fabrication and industrial manufacturing industries, is the growth of the pressure on manufacturers for good quality products with efficiency, sustainability and acceptable lead time and no possible errors. An example is, automotive industry introduced visual inspection system in their production, this had a great impact in PPM defects.

Key Insights

The metal cutting category held a larger market share of around 70% in 2023 globally.

Metal cutting machine tools is an important part of the industry, which includes automotive, aerospace, defense, mechanical engineering, and medical devices industries for precise shaping of metal and alloys such as iron, steel aluminum, titanium, and copper.

This category contains a huge range of different machinery like crurshers, grinding machines, turning machines, milling machine, electrical discharge machine (EDM) and many other.

Of them, milling machine markets outshine because of their capability to generate accurate cuts of metal, making them primarily engineered by manufacturers.

In contrast, the metal forming machines are used for bending, shaping, and other processes that are associated with metalworking.

The CNC category held a larger market share of around 75% in the global machine tools market in 2023 and is the fastest-growing in the automation segment.

CNC machines reduce manufacturing time and error rates by using CAD and CAM software to receive design instructions from a computer.

They are able to accomplish more tasks in one line prompt then one would be able to give. Therefore, there is a reduction in level of guided instruction.

Numerous types of production equipment like milling, grinding, turning, lathing, drilling and electrical discharge machining can be also merged with CNC technology.

Standard tools like change-handing on the lathe machine or milling with a handheld machine necessitates a higher level of expertise and may not conform to the set shape.

CNC technology is preferred over conventional machine tools for higher precision and more efficient production.

APAC held the largest revenue share in the global machine tools market in 2023 due to increasing industrialization and population growth in countries like China and India.

Competition among emerging economies to become manufacturing powerhouses, coupled with government initiatives like Make in India, Made in China 2025, and Making Indonesia 4.0, has created a favourable investment environment.

Significant growth is also observed in the IT sector of North America.

Product Code: 12952

Chapter 1. Research Scope

1.1. Research Objectives
1.2. Market Definition
1.3. Analysis Period
1.4. Market Size Breakdown by Segments
- 1.4.1. Market size breakdown, by type
- 1.4.2. Market size breakdown, by automation
- 1.4.3. Market size breakdown, by sales channel
- 1.4.4. Market size breakdown, by end user
- 1.4.5. Market size breakdown, by region
- 1.4.6. Market size breakdown, by country
1.5. Market Data Reporting Unit
- 1.5.1. Value
1.6. Key Stakeholders

Chapter 2. Research Methodology

2.1. Secondary Research
- 2.1.1. Paid
- 2.1.2. Unpaid
- 2.1.3. P&S Intelligence database
2.2. Primary Research
2.3. Market Size Estimation
2.4. Data Triangulation
2.5. Currency Conversion Rates
2.6. Assumptions for the Study
2.7. Notes and Caveats

Chapter 3. Executive Summary

Chapter 4. Market Indicators

Chapter 5. Industry Outlook

5.1. Market Dynamics
- 5.1.1. Trends
- 5.1.2. Drivers
- 5.1.3. Restraints/challenges
- 5.1.4. Impact analysis of drivers/restraints
5.2. Impact of COVID-19
5.3. Porter's Five Forces Analysis
- 5.3.1. Bargaining power of buyers
- 5.3.2. Bargaining power of suppliers
- 5.3.3. Threat of new entrants
- 5.3.4. Intensity of rivalry
- 5.3.5. Threat of substitutes

Chapter 6. Global Market

6.1. Overview
6.2. Market Revenue, by Type (2017-2030)
6.3. Market Revenue, by Automation (2017-2030)
6.4. Market Revenue, by Sales Channel (2017-2030)
6.5. Market Revenue, by End User (2017-2030)
6.6. Market Revenue, by Region (2017-2030)

Chapter 7. North America Market

7.1. Overview
7.2. Market Revenue, by Type (2017-2030)
7.3. Market Revenue, by Automation (2017-2030)
7.4. Market Revenue, by Sales Channel (2017-2030)
7.5. Market Revenue, by End User (2017-2030)
7.6. Market Revenue, by Country (2017-2030)

Chapter 8. Europe Market

8.1. Overview
8.2. Market Revenue, by Type (2017-2030)
8.3. Market Revenue, by Automation (2017-2030)
8.4. Market Revenue, by Sales Channel (2017-2030)
8.5. Market Revenue, by End User (2017-2030)
8.6. Market Revenue, by Country (2017-2030)

Chapter 9. APAC Market

9.1. Overview
9.2. Market Revenue, by Type (2017-2030)
9.3. Market Revenue, by Automation (2017-2030)
9.4. Market Revenue, by Sales Channel (2017-2030)
9.5. Market Revenue, by End User (2017-2030)
9.6. Market Revenue, by Country (2017-2030)

Chapter 10. LATAM Market

10.1. Overview
10.2. Market Revenue, by Type (2017-2030)
10.3. Market Revenue, by Automation (2017-2030)
10.4. Market Revenue, by Sales Channel (2017-2030)
10.5. Market Revenue, by End User (2017-2030)
10.6. Market Revenue, by Country (2017-2030)

Chapter 11. MEA Market

11.1. Overview
11.2. Market Revenue, by Type (2017-2030)
11.3. Market Revenue, by Automation (2017-2030)
11.4. Market Revenue, by Sales Channel (2017-2030)
11.5. Market Revenue, by End User (2017-2030)
11.6. Market Revenue, by Country (2017-2030)

Chapter 12. U.S. Market

12.1. Overview
12.2. Market Revenue, by Type (2017-2030)
12.3. Market Revenue, by Automation (2017-2030)
12.4. Market Revenue, by Sales Channel (2017-2030)
12.5. Market Revenue, by End User (2017-2030)

Chapter 13. Canada Market

13.1. Overview
13.2. Market Revenue, by Type (2017-2030)
13.3. Market Revenue, by Automation (2017-2030)
13.4. Market Revenue, by Sales Channel (2017-2030)
13.5. Market Revenue, by End User (2017-2030)

Chapter 14. Germany Market

14.1. Overview
14.2. Market Revenue, by Type (2017-2030)
14.3. Market Revenue, by Automation (2017-2030)
14.4. Market Revenue, by Sales Channel (2017-2030)
14.5. Market Revenue, by End User (2017-2030)

Chapter 15. France Market

15.1. Overview
15.2. Market Revenue, by Type (2017-2030)
15.3. Market Revenue, by Automation (2017-2030)
15.4. Market Revenue, by Sales Channel (2017-2030)
15.5. Market Revenue, by End User (2017-2030)

Chapter 16. U.K. Market

16.1. Overview
16.2. Market Revenue, by Type (2017-2030)
16.3. Market Revenue, by Automation (2017-2030)
16.4. Market Revenue, by Sales Channel (2017-2030)
16.5. Market Revenue, by End User (2017-2030)

Chapter 17. Italy Market

17.1. Overview
17.2. Market Revenue, by Type (2017-2030)
17.3. Market Revenue, by Automation (2017-2030)
17.4. Market Revenue, by Sales Channel (2017-2030)
17.5. Market Revenue, by End User (2017-2030)

Chapter 18. Spain Market

18.1. Overview
18.2. Market Revenue, by Type (2017-2030)
18.3. Market Revenue, by Automation (2017-2030)
18.4. Market Revenue, by Sales Channel (2017-2030)
18.5. Market Revenue, by End User (2017-2030)

Chapter 19. Japan Market

19.1. Overview
19.2. Market Revenue, by Type (2017-2030)
19.3. Market Revenue, by Automation (2017-2030)
19.4. Market Revenue, by Sales Channel (2017-2030)
19.5. Market Revenue, by End User (2017-2030)

Chapter 20. China Market

20.1. Overview
20.2. Market Revenue, by Type (2017-2030)
20.3. Market Revenue, by Automation (2017-2030)
20.4. Market Revenue, by Sales Channel (2017-2030)
20.5. Market Revenue, by End User (2017-2030)

Chapter 21. India Market

21.1. Overview
21.2. Market Revenue, by Type (2017-2030)
21.3. Market Revenue, by Automation (2017-2030)
21.4. Market Revenue, by Sales Channel (2017-2030)
21.5. Market Revenue, by End User (2017-2030)

Chapter 22. Australia Market

22.1. Overview
22.2. Market Revenue, by Type (2017-2030)
22.3. Market Revenue, by Automation (2017-2030)
22.4. Market Revenue, by Sales Channel (2017-2030)
22.5. Market Revenue, by End User (2017-2030)

Chapter 23. South Korea Market

23.1. Overview
23.2. Market Revenue, by Type (2017-2030)
23.3. Market Revenue, by Automation (2017-2030)
23.4. Market Revenue, by Sales Channel (2017-2030)
23.5. Market Revenue, by End User (2017-2030)

Chapter 24. Brazil Market

24.1. Overview
24.2. Market Revenue, by Type (2017-2030)
24.3. Market Revenue, by Automation (2017-2030)
24.4. Market Revenue, by Sales Channel (2017-2030)
24.5. Market Revenue, by End User (2017-2030)

Chapter 25. Mexico Market

25.1. Overview
25.2. Market Revenue, by Type (2017-2030)
25.3. Market Revenue, by Automation (2017-2030)
25.4. Market Revenue, by Sales Channel (2017-2030)
25.5. Market Revenue, by End User (2017-2030)

Chapter 26. Saudi Arabia Market

26.1. Overview
26.2. Market Revenue, by Type (2017-2030)
26.3. Market Revenue, by Automation (2017-2030)
26.4. Market Revenue, by Sales Channel (2017-2030)
26.5. Market Revenue, by End User (2017-2030)

Chapter 27. South Africa Market

27.1. Overview
27.2. Market Revenue, by Type (2017-2030)
27.3. Market Revenue, by Automation (2017-2030)
27.4. Market Revenue, by Sales Channel (2017-2030)
27.5. Market Revenue, by End User (2017-2030)

Chapter 28. U.A.E. Market

28.1. Overview
28.2. Market Revenue, by Type (2017-2030)
28.3. Market Revenue, by Automation (2017-2030)
28.4. Market Revenue, by Sales Channel (2017-2030)
28.5. Market Revenue, by End User (2017-2030)

Chapter 29. Competitive Landscape

29.1. List of Market Players and their Offerings
29.2. Competitive Benchmarking of Key Players
29.3. Product Benchmarking of Key Players
29.4. Recent Strategic Developments

Chapter 30. Company Profiles

30.1. Makino Milling Machine Co. Ltd.
- 30.1.1. Business overview
- 30.1.2. Product and service offerings
- 30.1.3. Key financial summary
30.2. DMG MORI
- 30.2.1. Business overview
- 30.2.2. Product and service offerings
- 30.2.3. Key financial summary
30.3. Okuma Corporation
- 30.3.1. Business overview
- 30.3.2. Product and service offerings
- 30.3.3. Key financial summary
30.4. JTEKT Corporation
- 30.4.1. Business overview
- 30.4.2. Product and service offerings
- 30.4.3. Key financial summary
30.5. DN Solutions
- 30.5.1. Business overview
- 30.5.2. Product and service offerings
- 30.5.3. Key financial summary
30.6. Trumpf
- 30.6.1. Business overview
- 30.6.2. Product and service offerings
- 30.6.3. Key financial summary
30.7. Komatsu NTC
- 30.7.1. Business overview
- 30.7.2. Product and service offerings
- 30.7.3. Key financial summary
30.8. AMADA MACHINERY CO. LTD.
- 30.8.1. Business overview
- 30.8.2. Product and service offerings
- 30.8.3. Key financial summary
30.9. Robert Bosch Tool Corporation
- 30.9.1. Business overview
- 30.9.2. Product and service offerings
- 30.9.3. Key financial summary
30.10. Schuler AG
- 30.10.1. Business overview
- 30.10.2. Product and service offerings
- 30.10.3. Key financial summary
30.11. Dalian Machine Tool Group Corporation
- 30.11.1. Business overview
- 30.11.2. Product and service offerings
- 30.11.3. Key financial summary

Chapter 31. Appendix

31.1. Abbreviations
31.2. Sources and References
31.3. Related Reports