PUBLISHER: The Business Research Company | PRODUCT CODE: 1932742
PUBLISHER: The Business Research Company | PRODUCT CODE: 1932742
Machine tools, also known as stationary power-driven equipment, are used to shape or create metal or other material pieces. They are utilized for cutting, boring, grinding, shearing, and deformations.
The main types of machine tools include milling machines, drilling machines, turning machines, grinding machines, electrical discharge machines, and others. Milling machines are versatile tools capable of both milling and turning materials. They feature multiple cutting edges arranged symmetrically and are used for flat and irregularly shaped surfaces, as well as drilling, boring, and cutting gears. These tools are available in both CNC and conventional forms and are used across various industries such as automotive, aerospace and defense, construction equipment, power and energy, and industrial sectors.
Note that the outlook for this market is being affected by rapid changes in trade relations and tariffs globally. The report will be updated prior to delivery to reflect the latest status, including revised forecasts and quantified impact analysis. The report's Recommendations and Conclusions sections will be updated to give strategies for entities dealing with the fast-moving international environment.
Tariffs are impacting the machine tools market by increasing the cost of imported spindles, servo motors, linear guides, CNC controllers, and precision bearings used across milling, turning, grinding, and EDM machines. Automotive, aerospace, and industrial manufacturers in North America and Europe are particularly affected due to reliance on imported high-precision components, while Asia-Pacific exporters face pricing pressure in global markets. These tariffs are raising capital expenditure and delaying equipment replacement cycles. However, they are also encouraging domestic production of machine tools, localization of component manufacturing, and innovation in modular and cost-optimized machining platforms.
The machine tools market research report is one of a series of new reports from The Business Research Company that provides machine tools market statistics, including machine tools industry global market size, regional shares, competitors with a machine tools market share, detailed machine tools market segments, market trends and opportunities, and any further data you may need to thrive in the machine tools industry. This machine tools market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The machine tools market size has grown strongly in recent years. It will grow from $99.87 billion in 2025 to $105.69 billion in 2026 at a compound annual growth rate (CAGR) of 5.8%. The growth in the historic period can be attributed to industrial manufacturing expansion, automotive production growth, adoption of conventional machining, demand for metal components, availability of skilled machinists.
The machine tools market size is expected to see strong growth in the next few years. It will grow to $133.15 billion in 2030 at a compound annual growth rate (CAGR) of 5.9%. The growth in the forecast period can be attributed to electrification-driven component demand, smart factory investments, adoption of advanced cnc systems, aerospace manufacturing growth, precision engineering requirements. Major trends in the forecast period include rising adoption of cnc machine tools, demand for high-precision machining, integration of automation in workshops, growth of multi-axis machines, expansion of custom fabrication.
The expanding manufacturing industry is expected to drive the growth of the machine tools market in the coming years. Machine tools are power-driven devices used to process workpieces and serve as essential equipment in the production of mechanical parts. These machines perform tasks such as forming, cutting, and joining materials. Consequently, growth in the manufacturing sector is expected to increase demand for machine tools. For example, in March 2025, the United Nations Industrial Development Organization, an Austria-based UN specialized agency, reported that global manufacturing output in Australia grew by 1 percent in the fourth quarter of 2024 on a quarter-over-quarter basis, following gains of over 0.5 percent in the previous two quarters. Therefore, the growth of the manufacturing industry is fueling the machine tools market.
Major players in the machine tools market are directing their efforts toward developing cutting-edge solutions, including machine tool probes, to bolster their profitability within the market. A machine tool probe refers to a sensor affixed to a CNC machine tool, utilized for gauging the position, dimensions, and characteristics of a workpiece or cutting tool. For instance, in May 2023, Renishaw PLC, a UK-based engineering and scientific technology company, introduced the RMP24-micro, a wireless probe designed for machine tools. With dimensions of 24 millimeters in diameter and 31.4 millimeters in length, this probe caters to applications where space is limited. The RMP24-micro's high accuracy and repeatability play a crucial role in ensuring the precise manufacture of parts according to specifications, mitigating the risks of scrap and rework. Its automation of tasks previously performed manually contributes significantly to reducing setup times and cycle durations.
In April 2024, Accurl USA LLC, a company based in the United States, entered into a partnership with Complete Machine Tools. Through this collaboration, Accurl intends to broaden its portfolio by leveraging Complete Machine Tools Pty Ltd's expertise in the manufacturing of machine tools. Complete Machine Tools is an Australian company specializing in the production of machine tools.
Major companies operating in the machine tools market are Amada Co. Ltd, DMG Mori Co. Ltd, Yamazaki Mazak Corporation, Haas Automation Inc, Okuma Corporation, GF Machining Solutions, Makino Milling Machine Co. Ltd, JTEKT Corporation, TRUMPF GmbH And Co. KG, Hyundai WIA Corporation, Doosan Machine Tools Co. Ltd, Hurco Companies Inc, Gleason Corporation, EMAG GmbH And Co. KG, Starrag Group Holding AG, MAG IAS GmbH, Hardinge Inc, Dalian Machine Tool Group Corporation, Tsugami Corporation, Haas Schleifmaschinen GmbH, INDEX-Werke GmbH And Co. KG, Kitamura Machinery Co. Ltd, Chiron Group
Asia-Pacific was the largest region in the machine tools market share in 2025. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the machine tools market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the machine tools market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The machine tools market consists of sales of lathes and boring mills, shapers and planers, drilling machines, power saws, and presses. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Machine Tools Market Global Report 2026 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses machine tools market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for machine tools ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward, including technological disruption, regulatory shifts, and changing consumer preferences? The machine tools market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, total addressable market (TAM), market attractiveness score (MAS), competitive landscape, market shares, company scoring matrix, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
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