Machine Tools Market, By Product Type (Milling Machines, Lathes, Grinding Machines, Electrical Discharge Machines, and Others), By Material Type, By Application, By Geography

Description

Global machine tools market is estimated to be valued at US$ 104.37 Billion in 2024 and is expected to reach US$ 124.86 Billion by 2031, exhibiting a compound annual growth rate (CAGR) of 2.6% from 2024 to 2031.

Report Coverage		Report Details
Base Year:	2023	Market Size in 2024:	US$ 104.37 Bn
Historical Data for:	2019 To 2023	Forecast Period:	2024 To 2031
Forecast Period 2024 to 2031 CAGR:	2.60%	2031 Value Projection:	US$ 124.86 Bn

Figure. Machine Tools Market Share (%), By Region, 2024

The global machine tools market has been witnessing steady growth over the past few years. Machine tools are equipments or set of machines that fashion or shape metal or other rigid materials through processes like cutting, drilling, boring, grinding, and others. They are essential in several industries like automotive, aerospace & defense, electronics, metal fabrication, construction, and shipbuilding where precise shaping and finishing of products is necessary. Growth in these end-use industries leads to rising demand for machine tools that drives the global machine tools market. Increased investments in manufacturing sectors across major developing nations are expected to generate significant opportunities in the coming years. However, volatile steel prices and fluctuations in foreign exchange rates pose challenges.

Market Dynamics:

The global machine tools market is driven by factors such as growing automotive production, increasing investments in manufacturing industries in emerging economies, and rising adoption of advanced machining technologies such as CNC machining. However, high initial purchase and maintenance costs associated with machine tools restrict the market growth. Opportunities include the growth of Industry 4.0 and automation trend offering solutions like 3D printing and Internet of Things (IoT) connectivity in machine tools. Other opportunities comprise the growing aerospace and defense industry demanding precision parts manufacturing.

Key Features of the Study:

This report provides in-depth analysis of the global machine tools market, and provides market size (US$ Bn) and compound annual growth rate (CAGR%) for the forecast period (2024-2031), considering 2023 as the base year

It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market

This study also provides key insights about market drivers, restraints, opportunities, new product launches or approvals, market trends, regional outlook, and competitive strategies adopted by key players

It profiles key players in the global machine tools market based on the following parameters - company highlights, products portfolio, key highlights, financial performance, and strategies

Key companies covered as a part of this study include DMG Mori Seiki AG, Haas Automation, Inc., Mazak Corporation, Okuma Corporation, FANUC Corporation, Siemens AG, Mitsubishi Electric Corporation, Hyundai Wia Corporation, Makino Milling Machine Co., Ltd., Trumpf GmbH + Co. KG, JTEKT Corporation, EMAG GmbH & Co. KG, Kennametal Inc., Hardinge Inc., and Schutte GmbH

Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics

The global machine tools market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts

Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global machine tools market

Detailed Segmentation-

Product Type Insights (Revenue, US$ Bn, 2019 - 2031)
- Milling Machines
- Lathes
- Grinding Machines
- Electrical Discharge Machines (EDM)
- Others
Material Type Insights (Revenue, US$ Bn, 2019 - 2031)
- Metal
- Plastic
- Composite
- Others
Application Insights (Revenue, US$ Bn, 2019 - 2031)
- Automotive
- Aerospace
- General Engineering
- Construction
- Others
Regional Insights (Revenue, USD Bn, 2019 - 2031)
- North America
- U.S.
- Canada
- Latin America
- Brazil
- Argentina
- Mexico
- Rest of Latin America
- Europe
- Germany
- U.K.
- Spain
- France
- Italy
- Russia
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- ASEAN
- Rest of Asia Pacific
- Middle East
- GCC Countries
- Israel
- Rest of Middle East
- Africa
- South Africa
- North Africa
- Central Africa
Key Players Insights
- DMG Mori Seiki AG
- Haas Automation, Inc.
- Mazak Corporation
- Okuma Corporation
- FANUC Corporation
- Siemens AG
- Mitsubishi Electric Corporation
- Hyundai Wia Corporation
- Makino Milling Machine Co., Ltd.
- Trumpf GmbH + Co. KG
- JTEKT Corporation
- EMAG GmbH & Co. KG
- Kennametal Inc.
- Hardinge Inc.
- Schutte GmbH

Product Code: CMI7431

1. Research Objectives and Assumptions

Research Objectives
Assumptions
Abbreviations

2. Market Purview

Report Description
- Market Definition and Scope
Executive Summary
- Market Snippet, By Product Type
- Market Snippet, By Material Type
- Market Snippet, By Application
- Market Snippet, By Region

3. Market Dynamics, Regulations, and Trends Analysis

Market Dynamics
- Drivers
- Restraints
- Market Opportunities
Regulatory Scenario
Industry Trend
Merger and Acquisitions
New System Launches/Approvals
Impact of COVID-19 Pandemic

4. Global Machine Tools Market, By Product Type, 2019-2031, (US$ Bn)

Introduction
- Market Share Analysis, 2024 and 2031 (%)
- Y-o-Y Growth Analysis, 2020-2031
- Segment Trends
Milling Machines
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Bn)
Lathes
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Bn)
Grinding Machines
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Bn)
Electrical Discharge Machines (EDM)
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Bn)
Others
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Bn)

5. Global Machine Tools Market, By Material Type, 2019-2031, (US$ Bn)

Introduction
- Market Share Analysis, 2024 and 2031 (%)
- Y-o-Y Growth Analysis, 2020-2031
- Segment Trends
Metal
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Bn)
Plastic
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Bn)
Composite
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Bn)
Others
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Bn)

6. Global Machine Tools Market, By Application, 2019-2031, (US$ Bn)

Introduction
- Market Share Analysis, 2024 and 2031 (%)
- Y-o-Y Growth Analysis, 2020-2031
- Segment Trends
Automotive
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Bn)
Aerospace
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Bn)
General Engineering
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Bn)
Construction
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Bn)
Others
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Bn)

7. Global Machine Tools Market, By Region, 2019-2031, (US$ Bn)

Introduction
- Market Share Analysis, By Region, 2024 and 2031 (%)
- Y-o-Y Growth Analysis, 2020-2031
North America
- Regional Trends
- Market Size and Forecast, By Product Type, 2019-2031, (US$ Bn)
- Market Size and Forecast, By Material Type, 2019-2031, (US$ Bn)
- Market Size and Forecast, By Application, 2019-2031, (US$ Bn)
- Market Size and Forecast, By Country, 2019-2031, (US$ Bn)
  - U.S.
  - Canada
Europe
- Regional Trends
- Market Size and Forecast, By Product Type, 2019-2031, (US$ Bn)
- Market Size and Forecast, By Material Type, 2019-2031, (US$ Bn)
- Market Size and Forecast, By Application, 2019-2031, (US$ Bn)
- Market Size and Forecast, By Country, 2019-2031, (US$ Bn)
  - Germany
  - U.K.
  - Spain
  - France
  - Italy
  - Russia
  - Rest of Europe
Asia Pacific
- Regional Trends
- Market Size and Forecast, By Product Type, 2019-2031, (US$ Bn)
- Market Size and Forecast, By Material Type, 2019-2031, (US$ Bn)
- Market Size and Forecast, By Application, 2019-2031, (US$ Bn)
- Market Size and Forecast, By Country, 2019-2031, (US$ Bn)
  - China
  - India
  - Japan
  - ASEAN
  - Australia
  - South Korea
  - Rest of Asia Pacific
Latin America
- Regional Trends
- Market Size and Forecast, By Product Type, 2019-2031, (US$ Bn)
- Market Size and Forecast, By Material Type, 2019-2031, (US$ Bn)
- Market Size and Forecast, By Application, 2019-2031, (US$ Bn)
- Market Size and Forecast, By Country, 2019-2031, (US$ Bn)
  - Brazil
  - Argentina
  - Mexico
  - Rest of Latin America
Middle East
- Regional Trends
- Market Size and Forecast, By Product Type, 2019-2031, (US$ Bn)
- Market Size and Forecast, By Material Type, 2019-2031, (US$ Bn)
- Market Size and Forecast, By Application, 2019-2031, (US$ Bn)
- Market Size and Forecast, By Country, 2019-2031, (US$ Bn)
  - Israel
  - GCC Countries
  - Rest of the Middle East
Africa
- Regional Trends
- Market Size and Forecast, By Product Type, 2019-2031, (US$ Bn)
- Market Size and Forecast, By Material Type, 2019-2031, (US$ Bn)
- Market Size and Forecast, By Application, 2019-2031, (US$ Bn)
- Market Size and Forecast, By Country, 2019-2031, (US$ Bn)
  - South Africa
  - North Africa
  - Central Africa

8. Competitive Landscape

Company Profiles
- DMG Mori Seiki AG
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Haas Automation, Inc.
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Mazak Corporation
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Okuma Corporation
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- FANUC Corporation
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Siemens AG
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Mitsubishi Electric Corporation
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Hyundai Wia Corporation
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Makino Milling Machine Co., Ltd.
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Trumpf GmbH + Co. KG
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- JTEKT Corporation
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- EMAG GmbH & Co. KG
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Kennametal Inc.
- Hardinge Inc.
- Schutte GmbH

9. Analyst Recommendations

Wheel of Fortune
Analyst View
Coherent Opportunity Map

10. Research Methodology

References
Research Methodology
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