The Machine Tools Market size was estimated at USD 87.93 billion in 2022 and is expected to reach USD 138.0 billion by 2030 at a CAGR of 5.8% during the forecast period of 2023-2030.
Industry has grown as a result of technological developments like multi-axis arms and robots as well as the expansion of the industrial sector. In addition, the increasing emphasis on increasing productivity and decreasing downtime is fueling the market's expansion. The North American electric vehicle market is anticipated to grow during the forecast period due to the presence of well-known automakers like General Motors, Nissan, Tesla, and Ford, as well as appropriate infrastructure for the production of electric vehicles and high disposable income. This, in turn, is likely to support the growth of demand during the anticipated timeframe. Moreover, North America's need has grown due to the region's expanding need for automotive components. Machine tools are used in many different sectors and industry verticals, such as aerospace and automotive, to make a variety of components quickly and accurately while maintaining a sufficient degree of flexibility. CNC machine tools are used by aerospace firms to produce lightweight, precisely toleranced parts as well as parts including landing gears, turbines, wheels, fuel access panels, and engine mounts.
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MARKET DYNAMICS
DRIVER
Global Manufacturing Expansion: As manufacturing sectors expand, especially in emerging economies, there is a growing need for machine tools to facilitate production and precise machining.
Demand for Customization: To fulfill the demand for a wide range of products, producers must have machine tools that are very versatile and adaptable as consumer tastes change.
Growing Markets for Aerospace and Automotive: The need for sophisticated machine tools to create intricate and highly precise components is being driven by the growth of the automobile and aerospace sectors.
RESTRAIN
Technological Intricacy Machine tool technology is evolving so quickly that maintaining competitiveness demands ongoing expenditures in training and adaptability.
Periodicity Economic downturns can have an impact on the machine tools industry, which is cyclical and affects the demand for machinery.
OPPORTUNITY
Developments in Cutting technology: Manufacturers have the chance to increase output and quality thanks to ongoing developments in cutting and machining technology.
Customization and Adaptability: A big market opportunity may arise from the capacity to provide machine tools that are both configurable and adaptable to meet the demands of certain industries.
Market Expansion in Emerging Economies: As these countries engage more in manufacturing and infrastructure development, emerging markets provide potential for market expansion.
CHALLENGES
Global Economic Uncertainty: Trade disputes, geopolitical crises, and economic uncertainty can affect capital investments in manufacturing and impede market expansion.
Environmental restrictions: The usage of some machine tools may be impacted by strict environmental restrictions, especially if those instruments have a high energy consumption or an adverse environmental impact.
Competitive Landscape: There are many national and international competitors in the machine tools industry, which is quite competitive. Differentiation and innovation are necessary to remain competitive.
IMPACT OF RUSSIA-UKRAINE WAR
Supply chains may be disrupted by the war, especially for parts for machine tools. A wide range of materials and parts used in machine tools are produced and exported by both Russia and Ukraine. Manufacturers of machine tools may experience higher expenses and production delays as a result of these interruptions. The conflict's unpredictability may create changes in the value of one currency at another. This may have an effect on machine tool prices and costs in foreign markets. The conflict's unpredictability may create changes in the value of one currency at another. This may have an effect on machine tool prices and costs in foreign markets. Manufacturers and other firms may postpone making investment choices as a result of the conflict's potential to cause economic instability. Sales of machine tools might decline as manufacturers been more prudent with their capital purchases.
IMPACT OF ONGOING RECESSION
During a recession, the demand for new machine tools can decline by approximately 15% to 30% as many manufacturers delay or cancel capital expenditures. Reduced demand can lead to price pressure in the machine tools market, potentially resulting in price reductions of around 5% to 15% or more. Investments in automation and advanced machine tools may decrease by about 10% to 20%, affecting the demand for high-tech machinery. Many manufacturers may face financial constraints, making it challenging to secure financing for new machinery. This can lead to a decrease of around 15% to 25% in capital equipment investments. Industries heavily dependent on machine tools, such as automotive, aerospace, and construction, may experience production reductions of approximately 10% to 20%, impacting the need for new machines.
By Type
Machining Centers
Turning Machines
Milling Machines
Eroding machines
Others
Metal Forming
Bending Machines
Presses
Punching Machines
Others
By Technology
Conventional
By End-use
Automotive
Mechanical Engineering
Metal Working
Aerospace
Electrical Industry
Others
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REGIONAL COVERAGE
North America
US
Canada
Mexico
Europe
Eastern Europe
Poland
Romania
Hungary
Turkey
Rest of Eastern Europe
Western Europe
Germany
France
UK
Italy
Spain
Netherlands
Switzerland
Austria
Rest of Western Europe
Asia Pacific
China
India
Japan
South Korea
Vietnam
Singapore
Australia
Rest of Asia Pacific
Middle East & Africa
Middle East
UAE
Egypt
Saudi Arabia
Qatar
Rest of the Middle East
Africa
Nigeria
South Africa
Rest of Africa
Latin America
Brazil
Argentina
Colombia
Rest of Latin America
REGIONAL ANALYSES
Europe is a global leader in car production and a prime destination for foreign direct investment (FDI) in the automotive industry. Over the course of the projection period, process innovation, enhanced R&D, and the development of vehicle production in nations like France, Germany, and the United Kingdom are anticipated to fuel the growth of the automotive sector. Additionally, the region is distinguished by the presence of major global automakers like Mercedes, BMW, and Volkswagen, who prioritize yearly production volume increases, hence boosting the region's need for machine tools.
There has been an influx of new businesses in Central and South America, mostly from North America. Because Central and South America have outstanding engineering, manufacturing, and maintenance facilities, the majority of North American manufacturing and construction corporations are strategically concentrating their investments in this area, notably in Costa Rica and Brazil. Because of the region's strong economic growth, significant manufacturing clusters and special economic zones (SEZs) are being built there.
The major key players are Amada Machine Tools Co., Ltd., CHIRON GROUP SE, DMG MORI. CO., LTD., DN Solutions, Georg Fischer Ltd., HYUNDAI WIA CORP, JTEKT Corporation, Komatsu Ltd, Makino, Okuma Corporation, Hurco Companies, Inc., and others.
DN Solutions-Company Financial Analysis
RECENT DEVELOPMENT
Hurco: In August 2020, A new line of CNC turning centers with live tooling for every turret station was announced by Hurco. With its multi-core CPU, the new CNC system can display high-resolution images on the screen that are similar to those found on Hurco's machining center control.
Mazak Corporation: In May 2020, is concentrating on creating a new sales channel in order to increase its market share in Portugal. The goal of the new Porto-based sales department is to assist Mazak's distributor, Normil.
| Report Attributes | Details |
| Market Size in 2022 | US$ 87.93 Bn |
| Market Size by 2030 | US$ 138.0 Bn |
| CAGR | CAGR of 5.8% From 2023 to 2030 |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Historical Data | 2019-2021 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • By Type (Metal Cutting, Machining Centers, Turning Machines, Grinding Machines, Milling Machines, Eroding machines, Others), (Metal Forming, Bending Machines, Presses, Punching Machines, Others) • By Technology (Computer Numerical Control (CNC), Conventional) • By End-use (Automotive, Mechanical Engineering, Metal Working, Aerospace, Electrical Industry) |
| Regional Analysis/Coverage | North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia Rest of Latin America) |
| Company Profiles | Amada Machine Tools Co., Ltd., CHIRON GROUP SE, DMG MORI. CO., LTD., DN Solutions, Georg Fischer Ltd., HYUNDAI WIA CORP, JTEKT Corporation, Komatsu Ltd, Makino, Okuma Corporation, Hurco Companies, Inc. |
| Key Drivers | • Global Manufacturing Expansion: As manufacturing sectors expand, especially in emerging economies, there is a growing need for machine tools to facilitate production and precise machining. • Demand for Customization: To fulfill the demand for a wide range of products, producers must have machine tools that are very versatile and adaptable as consumer tastes change. |
| Market Opportunity | • Developments in Cutting technology: Manufacturers have the chance to increase output and quality thanks to ongoing developments in cutting and machining technology. • Customization and Adaptability: A big market opportunity may arise from the capacity to provide machine tools that are both configurable and adaptable to meet the demands of certain industries. |
The Machine Tools Market is expected to grow at a CAGR of 5.8% from 2023 to 2030.
According to our analysis, the Machine Tools Market is anticipated to reach USD 138.0 billion By 2030.
The development of machine tool technologies, such as multi-axis arms and robotics, and the expansion of the industrial sector are the main drivers of the machine tools market.
The leading participants in the Amada Machine Tools Co., Ltd., CHIRON GROUP SE, DMG MORI. CO., LTD., DN Solutions, Georg Fischer Ltd., HYUNDAI WIA CORP.
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Table of Contents
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges
4. Impact Analysis
4.1 Impact of the Ukraine- Russia War
4.2 Impact of Ongoing Recession
4.2.1 Introduction
4.2.2 Impact on major economies
4.2.2.1 US
4.2.2.2 Canada
4.2.2.3 Germany
4.2.2.4 France
4.2.2.5 United Kingdom
4.2.2.6 China
4.2.2.7 japan
4.2.2.8 South Korea
4.2.2.9 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Machine Tools Market, By Type
8.1 Metal Cutting
8.1.1 Machining Centers
8.1.2 Turning Machines
8.1.3 Grinding Machines
8.1.4 Milling Machines
8.1.5 Eroding machines
8.1.6 Others
8.2 Metal Forming
8.2.1 Bending Machines
8.2.2 Presses
8.2.3 Punching Machines
8.2.4 Others
9. Machine Tools Market, By Technology
9.1 Computer Numerical Control (CNC)
9.2 Conventional
10. Machine Tools Market, By End-use
10.1 Automotive
10.2 Mechanical Engineering
10.3 Metal Working
10.4 Aerospace
10.5 Electrical Industry
10.6 Others
11. Regional Analysis
11.1 Introduction
11.2 North America
11.2.1 North America Machine Tools Market by Country
11.2.2North America Machine Tools Market by Type
11.2.3 North America Machine Tools Market by Technology
11.2.4 North America Machine Tools Market by End-use
11.2.5 USA
11.2.5.1 USA Machine Tools Market by Type
11.2.5.2 USA Machine Tools Market by Technology
11.2.5.3 USA Machine Tools Market by End-use
11.2.6 Canada
11.2.6.1 Canada Machine Tools Market by Type
11.2.6.2 Canada Machine Tools Market by Technology
11.2.6.3 Canada Machine Tools Market by End-use
11.2.7 Mexico
11.2.7.1 Mexico Machine Tools Market by Type
11.2.7.2 Mexico Machine Tools Market by Technology
11.2.7.3 Mexico Machine Tools Market by End-use
11.3 Europe
11.3.1 Eastern Europe
11.3.1.1 Eastern Europe Machine Tools Market by Country
11.3.1.2 Eastern Europe Machine Tools Market by Type
11.3.1.3 Eastern Europe Machine Tools Market by Technology
11.3.1.4 Eastern Europe Machine Tools Market by End-use
11.3.1.5 Poland
11.3.1.5.1 Poland Machine Tools Market by Type
11.3.1.5.2 Poland Machine Tools Market by Technology
11.3.1.5.3 Poland Machine Tools Market by End-use
11.3.1.6 Romania
11.3.1.6.1 Romania Machine Tools Market by Type
11.3.1.6.2 Romania Machine Tools Market by Technology
11.3.1.6.4 Romania Machine Tools Market by End-use
11.3.1.7 Turkey
11.3.1.7.1 Turkey Machine Tools Market by Type
11.3.1.7.2 Turkey Machine Tools Market by Technology
11.3.1.7.3 Turkey Machine Tools Market by End-use
11.3.1.8 Rest of Eastern Europe
11.3.1.8.1 Rest of Eastern Europe Machine Tools Market by Type
11.3.1.8.2 Rest of Eastern Europe Machine Tools Market by Technology
11.3.1.8.3 Rest of Eastern Europe Machine Tools Market by End-use
11.3.2 Western Europe
11.3.2.1 Western Europe Machine Tools Market by Type
11.3.2.2 Western Europe Machine Tools Market by Technology
11.3.2.3 Western Europe Machine Tools Market by End-use
11.3.2.4 Germany
11.3.2.4.1 Germany Machine Tools Market by Type
11.3.2.4.2 Germany Machine Tools Market by Technology
11.3.2.4.3 Germany Machine Tools Market by End-use
11.3.2.5 France
11.3.2.5.1 France Machine Tools Market by Type
11.3.2.5.2 France Machine Tools Market by Technology
11.3.2.5.3 France Machine Tools Market by End-use
11.3.2.6 UK
11.3.2.6.1 UK Machine Tools Market by Type
11.3.2.6.2 UK Machine Tools Market by Technology
11.3.2.6.3 UK Machine Tools Market by End-use
11.3.2.7 Italy
11.3.2.7.1 Italy Machine Tools Market by Type
11.3.2.7.2 Italy Machine Tools Market by Technology
11.3.2.7.3 Italy Machine Tools Market by End-use
11.3.2.8 Spain
11.3.2.8.1 Spain Machine Tools Market by Type
11.3.2.8.2 Spain Machine Tools Market by Technology
11.3.2.8.3 Spain Machine Tools Market by End-use
11.3.2.9 Netherlands
11.3.2.9.1 Netherlands Machine Tools Market by Type
11.3.2.9.2 Netherlands Machine Tools Market by Technology
11.3.2.9.3 Netherlands Machine Tools Market by End-use
11.3.2.10 Switzerland
11.3.2.10.1 Switzerland Machine Tools Market by Type
11.3.2.10.2 Switzerland Machine Tools Market by Technology
11.3.2.10.3 Switzerland Machine Tools Market by End-use
11.3.2.11.1 Austria
11.3.2.11.2 Austria Machine Tools Market by Type
11.3.2.11.3 Austria Machine Tools Market by Technology
11.3.2.11.4 Austria Machine Tools Market by End-use
11.3.2.12 Rest of Western Europe
11.3.2.12.1 Rest of Western Europe Machine Tools Market by Type
11.3.2.12.2 Rest of Western Europe Machine Tools Market by Technology
11.3.2.12.3 Rest of Western Europe Machine Tools Market by End-use
11.4 Asia-Pacific
11.4.1 Asia-Pacific Machine Tools Market by Country
11.4.2 Asia-Pacific Machine Tools Market by Type
11.4.3 Asia-Pacific Machine Tools Market by Technology
11.4.4 Asia-Pacific Machine Tools Market by End-use
11.4.5 China
11.4.5.1 China Machine Tools Market by Type
11.4.5.2 China Machine Tools Market by Technology
11.4.5.3 China Machine Tools Market by End-use
11.4.6 India
11.4.6.1 India Machine Tools Market by Type
11.4.6.2 India Machine Tools Market by Technology
11.4.6.3 India Machine Tools Market by End-use
11.4.7 japan
11.4.7.1 Japan Machine Tools Market by Type
11.4.7.2 Japan Machine Tools Market by Technology
11.4.7.3 Japan Machine Tools Market by End-use
11.4.8 South Korea
11.4.8.1 South Korea Machine Tools Market by Type
11.4.8.2 South Korea Machine Tools Market by Technology
11.4.8.3 South Korea Machine Tools Market by End-use
11.4.9 Vietnam
11.4.9.1 Vietnam Machine Tools Market by Type
11.4.9.2 Vietnam Machine Tools Market by Technology
11.4.9.3 Vietnam Machine Tools Market by End-use
11.4.10 Singapore
11.4.10.1 Singapore Machine Tools Market by Type
11.4.10.2 Singapore Machine Tools Market by Technology
11.4.10.3 Singapore Machine Tools Market by End-use
11.4.11 Australia
11.4.11.1 Australia Machine Tools Market by Type
11.4.11.2 Australia Machine Tools Market by Technology
11.4.11.3 Australia Machine Tools Market by End-use
11.4.12 Rest of Asia-Pacific
11.4.12.1 Rest of Asia-Pacific Machine Tools Market by Type
11.4.12.2 Rest of Asia-Pacific Machine Tools Market by Technology
11.4.12.3 Rest of Asia-Pacific Machine Tools Market by End-use
11.5 Middle East & Africa
11.5.1 Middle East
11.5.1.1 Middle East Machine Tools Market by Country
11.5.1.2 Middle East Machine Tools Market by Type
11.5.1.3 Middle East Machine Tools Market by Technology
11.5.1.4 Middle East Machine Tools Market by End-use
11.5.1.5 UAE
11.5.1.5.1 UAE Machine Tools Market by Type
11.5.1.5.2 UAE Machine Tools Market by Technology
11.5.1.5.3 UAE Machine Tools Market by End-use
11.5.1.6 Egypt
11.5.1.6.1 Egypt Machine Tools Market by Type
11.5.1.6.2 Egypt Machine Tools Market by Technology
11.5.1.6.3 Egypt Machine Tools Market by End-use
11.5.1.7 Saudi Arabia
11.5.1.7.1 Saudi Arabia Machine Tools Market by Type
11.5.1.7.2 Saudi Arabia Machine Tools Market by Technology
11.5.1.7.3 Saudi Arabia Machine Tools Market by End-use
11.5.1.8 Qatar
11.5.1.8.1 Qatar Machine Tools Market by Type
11.5.1.8.2 Qatar Machine Tools Market by Technology
11.5.1.8.3 Qatar Machine Tools Market by End-use
11.5.1.9 Rest of Middle East
11.5.1.9.1 Rest of the Middle East Machine Tools Market by Type
11.5.1.9.2 Rest of Middle East Machine Tools Market by Technology
11.5.1.9.3 Rest of the Middle East Machine Tools Market by End-use
11.5.2 Africa
11.5.2.1 Africa Machine Tools Market by Country
11.5.2.2 Africa Machine Tools Market by Type
11.5.2.3 Africa Machine Tools Market by Technology
11.5.2.4 Africa Machine Tools Market by End-use
11.5.2.5 Nigeria
11.5.2.5.1 Nigeria Machine Tools Market by Type
11.5.2.5.2 Nigeria Machine Tools Market by Technology
11.5.2.5.3 Nigeria Machine Tools Market by End-use
11.5.2.6 South Africa
11.5.2.6.1 South Africa Machine Tools Market by Type
11.5.2.6.2 South Africa Machine Tools Market by Technology
11.5.2.6.3 South Africa Machine Tools Market by End-use
11.5.2.7 Rest of Africa
11.5.2.7.1 Rest of Africa Machine Tools Market by Type
11.5.2.7.2 Rest of Africa Machine Tools Market by Technology
11.5.2.7.3 Rest of Africa Machine Tools Market by End-use
11.6 Latin America
11.6.1 Latin America Machine Tools Market by Country
11.6.2 Latin America Machine Tools Market by Type
11.6.3 Latin America Machine Tools Market by Technology
11.6.4 Latin America Machine Tools Market by End-use
11.6.5 brazil
11.6.5.1 Brazil Machine Tools Market by Type
11.6.5.2 Brazil Machine Tools Market by Technology
11.6.5.3 Brazil Machine Tools Market by End-use
11.6.6 Argentina
11.6.6.1 Argentina Machine Tools Market by Type
11.6.6.2 Argentina Machine Tools Market by Technology
11.6.6.3 Argentina Machine Tools Market by End-use
11.6.7 Colombia
11.6.7.1 Colombia America Machine Tools Market by Type
11.6.7.2 Colombia America Machine Tools Market by Technology
11.6.7.3 Colombia America Machine Tools Market by End-use
11.6.8 Rest of Latin America
11.6.8.1 Rest of Latin America Machine Tools Market by Type
11.6.8.2 Rest of Latin America Machine Tools Market by Technology
11.6.8.3 Rest of Latin America Machine Tools Market by End-use
12. Company profile
12.1 Amada Machine Tools Co., Ltd
12.1.1 Company Overview
12.1.2 Financials
12.1.3 Type/Services/Offerings
12.1.4 SWOT Analysis
12.1.5 The SNS View
12.2 CHIRON GROUP SE
12.2.1 Company Overview
12.2.2 Financials
12.2.3 Type/Services/Offerings
12.2.4 SWOT Analysis
12.2.5 The SNS View
12.3 DMG MORI. CO., LTD.
12.3.1 Company Overview
12.3.2 Financials
12.3.3 Type/Services/Offerings
12.3.4 SWOT Analysis
12.3.5 The SNS View
12.4 DN Solutions
12.4.1 Company Overview
12.4.2 Financials
12.4.3 Type/Services/Offerings
12.4.4 SWOT Analysis
12.4.5 The SNS View
12.5 Georg Fischer Ltd.
12.5.1 Company Overview
12.5.2 Financials
12.5.3 Type/Services/Offerings
12.5.4 SWOT Analysis
12.5.5 The SNS View
12.6 HYUNDAI WIA CORP
12.6.1 Company Overview
12.6.2 Financials
12.6.3 Type/Services/Offerings
12.6.4 SWOT Analysis
12.6.5 The SNS View
12.7 JTEKT Corporation
12.7.2 Financials
12.7.3 Type/Services/Offerings
12.7.4 SWOT Analysis
12.7.5 The SNS View
12.8 Komatsu Ltd
12.7.1 Company Overview
12.8.1 Company Overview
12.8.2 Financials
12.8.3 Type/Services/Offerings
12.8.4 SWOT Analysis
12.8.5 The SNS View
12.9 Makino
12.9.1 Company Overview
12.9.2 Financials
12.9.3 Type/Services/Offerings
12.9.4 SWOT Analysis
12.9.5 The SNS View
12.10 Okuma Corporation
12.10.1 Company Overview
12.10.2 Financials
12.10.3 Type/Services/Offerings
12.10.4 SWOT Analysis
12.10.5 The SNS View
13. Competitive Landscape
13.1 Competitive Benchmarking
13.2 Market Share Analysis
13.3 Recent Developments
13.3.1 Communication News
13.3.2 Company News
13.3.3 Mergers & Acquisitions
14. Use Case and Best Practices
15. Conclusion
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