PUBLISHER: Polaris Market Research | PRODUCT CODE: 1339200
PUBLISHER: Polaris Market Research | PRODUCT CODE: 1339200
Precision Engineering Machines Market Share, Size, Trends, Industry Analysis Report, By End-use (Automotive, Non-Automotive), By Region, And Segment Forecasts, 2023 - 2032
The global precision engineering machines market size is expected to reach USD 24.64 billion by 2032, according to a new study by Polaris Market Research. The report "Precision Engineering Machines Market Share, Size, Trends, Industry Analysis Report, By End-use (Automotive, Non-Automotive), By Region, And Segment Forecasts, 2023 - 2032" gives a detailed insight into current market dynamics and provides analysis on future market growth.
With the continuous advancement of production methods, precision engineering tools have gained significant popularity due to their exceptional accuracy. The expanding technological capabilities have broadened the scope of precision engineering, enabling more efficient and productive manufacturing processes. Precision engineering equipment enables automated procedures, reducing the time required for component machining. Once the codes are entered into the computer, these machines can operate continuously without manual intervention or supervision. Industrial automation devices, including robots, have proven highly advantageous in discrete and continuous manufacturing scenarios. They contribute to increased productivity and the implementation of improved production methods.
In recent years, there has been a rapid proliferation of innovative technologies across various industries. Among these advancements, programmed automation has gained significant popularity and widespread usage. Programmed automation refers to the capability of machines to execute instructions entered by humans into their systems. This transformative concept has revolutionized the manufacturing landscape.
Precision engineering machines equipped with programmed automation enable manufacturers to produce multiple identical product copies without relying heavily on human labor. By automating repetitive tasks, programmed automation streamlines production processes increases efficiency, and reduces the potential for errors. This technology has greatly contributed to the advancement of precision engineering and has become a cornerstone in modern manufacturing practices.
The COVID-19 pandemic had a detrimental impact on the market, causing disruptions and challenges. It stifled innovation, hampered profitability, and led to cash flow issues, resulting in an imbalanced economy. The postponement of numerous events in 2020 due to the pandemic prevented vendors from showcasing their latest products and technological advancements, limiting market exposure.
The lack of skilled operators also poses a significant obstacle to market expansion. Inexperienced workers may need help to operate precision engineering equipment effectively, increasing the risk of machine damage and potentially jeopardizing the financial investments of manufacturing units. This shortage of qualified operators is particularly evident in sectors such as steel and aerospace, where skilled workers like precision machinists and tool and die makers play crucial roles. The need to address the shortage of skilled workers in these industries remains a challenge..
Precision Engineering Machines Market Report Highlights
Non-automotive segment garnered the largest share, owing to huge of precision services in the sector
Automotive segment expected to witness significant growth rate, owing to huge demand from allied industries such as oil & gas, and other ancillary sectors
Europe expected to grow at the fastest rate, owing huge of precision services in automotive sector, particularly in compact vehicles
The global players include: Amada Machine Tools Co., Amera-Seiki, DATRON, Dalian Machine Tool Group, DMG Mori, FANUC Corporation, Haas Automation, Hurco Companies, Okuma Corporation, Shenyang Machine Tool, and Yamazaki Mazak Corporation.
Polaris Market Research has segmented the precision engineering machines market report based on end use, and region:
Precision Engineering Machines, End Use Outlook (Revenue - USD Billion, 2019 - 2032)
- Automotive
- Non-Automotive
- Aerospace & Defense
- Engineering & Capital Goods
- Power & Energy
- Others
Precision Engineering Machines, Regional Outlook (Revenue - USD Billion, 2019 - 2032)
- North America
- U.S.
- Canada
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Netherlands
- Asia Pacific
- China
- India
- Japan
- South Korea
- Indonesia
- Malaysia
- Latin America
- Argentina
- Brazil
- Mexico
- Middle East & Africa
- UAE
- Saudi Arabia
- Israel
- South Africa
Table of Contents
1. Introduction
- 1.1. Report Description
- 1.1.1. Objectives of the Study
- 1.1.2. Market Scope
- 1.1.3. Assumptions
- 1.2. Stakeholders
2. Executive Summary
- 2.1. Market Highlights
3. Research Methodology
- 3.1. Overview
- 3.1.1. Data Mining
- 3.2. Data Sources
- 3.2.1. Primary Sources
- 3.2.2. Secondary Sources
4. Global Precision Engineering Machines Market Insights
- 4.1. Precision Engineering Machines Market - Industry Snapshot
- 4.2. Precision Engineering Machines Market Dynamics
- 4.2.1. Drivers and Opportunities
- 4.2.1.1. Increasing demand for precision machining solutions
- 4.2.1.2. Advanced machining techniques help to reduce the cost of material
- 4.2.2. Restraints and Challenges
- 4.2.2.1. Fluctuating prices pf raw material
- 4.2.1. Drivers and Opportunities
- 4.3. Porter's Five Forces Analysis
- 4.3.1. Bargaining Power of Suppliers (Moderate)
- 4.3.2. Threats of New Entrants: (Low)
- 4.3.3. Bargaining Power of Buyers (Moderate)
- 4.3.4. Threat of Substitute (Moderate)
- 4.3.5. Rivalry among existing firms (High)
- 4.4. PESTLE Analysis
- 4.5. Value Chain Analysis
- 4.6. Precision Engineering Machines Industry trends
- 4.7. COVID-19 Impact Analysis
5. Global Precision Engineering Machines Market, by End Use
- 5.1. Key Findings
- 5.2. Introduction
- 5.2.1. Global Precision Engineering Machines Market, by End Use, 2019-2032 (USD Billion)
- 5.3. Automotive
- 5.3.1. Global Precision Engineering Machines Market, by Automotive, by Region, 2019-2032 (USD Billion)
- 5.4. Non-Automotive
- 5.4.1. Global Precision Engineering Machines Market, by Non-Automotive, by Region, 2019-2032 (USD Billion)
- 5.4.2. Aerospace & Defense
- 5.4.2.1. Global Precision Engineering Machines Market, by Aerospace & Defense, by Region, 2019-2032 (USD Billion)
- 5.4.3. Engineering & Capital Goods
- 5.4.3.1. Global Precision Engineering Machines Market, by Engineering & Capital Goods, by Region, 2019-2032 (USD Billion)
- 5.4.4. Power & Energy
- 5.4.4.1. Global Precision Engineering Machines Market, by Power & Energy, by Region, 2019-2032 (USD Billion)
- 5.4.5. Others
- 5.4.5.1. Global Precision Engineering Machines Market, by Others, by Region, 2019-2032 (USD Billion)
6. Global Precision Engineering Machines Market, by Geography
- 6.1. Key findings
- 6.2. Introduction
- 6.2.1. Precision Engineering Machines Market Assessment, By Geography, 2019-2032 (USD Billion)
- 6.3. Precision Engineering Machines Market - North America
- 6.3.1. North America: Precision Engineering Machines Market, by End Use, 2019-2032 (USD Billion)
- 6.3.2. Precision Engineering Machines Market - U.S.
- 6.3.2.1. U.S.: Precision Engineering Machines Market, by End Use, 2019-2032 (USD Billion)
- 6.3.3. Precision Engineering Machines Market - Canada
- 6.3.3.1. Canada: Precision Engineering Machines Market, by End Use, 2019-2032 (USD Billion)
- 6.4. Precision Engineering Machines Market - Europe
- 6.4.1. Europe: Precision Engineering Machines Market, by End Use, 2019-2032 (USD Billion)
- 6.4.2. Precision Engineering Machines Market - UK
- 6.4.2.1. UK: Precision Engineering Machines Market, by End Use, 2019-2032 (USD Billion)
- 6.4.3. Precision Engineering Machines Market - France
- 6.4.3.1. France: Precision Engineering Machines Market, by End Use, 2019-2032 (USD Billion)
- 6.4.4. Precision Engineering Machines Market - Germany
- 6.4.4.1. Germany: Precision Engineering Machines Market, by End Use, 2019-2032 (USD Billion)
- 6.4.5. Precision Engineering Machines Market - Italy
- 6.4.5.1. Italy: Precision Engineering Machines Market, by End Use, 2019-2032 (USD Billion)
- 6.4.6. Precision Engineering Machines Market - Spain
- 6.4.6.1. Spain: Precision Engineering Machines Market, by End Use, 2019-2032 (USD Billion)
- 6.4.7. Precision Engineering Machines Market - Netherlands
- 6.4.7.1. Netherlands: Precision Engineering Machines Market, by End Use, 2019-2032 (USD Billion)
- 6.4.8. Precision Engineering Machines Market - Austria
- 6.4.8.1. Austria: Precision Engineering Machines Market, by End Use, 2019-2032 (USD Billion)
- 6.5. Precision Engineering Machines Market - Asia Pacific
- 6.5.1. Asia Pacific: Precision Engineering Machines Market, by End Use, 2019-2032 (USD Billion)
- 6.5.2. Precision Engineering Machines Market - China
- 6.5.2.1. China: Precision Engineering Machines Market, by End Use, 2019-2032 (USD Billion)
- 6.5.3. Precision Engineering Machines Market - India
- 6.5.3.1. India: Precision Engineering Machines Market, by End Use, 2019-2032 (USD Billion)
- 6.5.4. Precision Engineering Machines Market - Malaysia
- 6.5.4.1. Malaysia: Precision Engineering Machines Market, by End Use, 2019-2032 (USD Billion)
- 6.5.5. Precision Engineering Machines Market - Japan
- 6.5.5.1. Japan: Precision Engineering Machines Market, by End Use, 2019-2032 (USD Billion)
- 6.5.6. Precision Engineering Machines Market - Indonesia
- 6.5.6.1. Indonesia: Precision Engineering Machines Market, by End Use, 2019-2032 (USD Billion)
- 6.5.7. Precision Engineering Machines Market - South Korea
- 6.5.7.1. South Korea: Precision Engineering Machines Market, by End Use, 2019-2032 (USD Billion)
- 6.6. Precision Engineering Machines Market - Middle East & Africa
- 6.6.1. Middle East & Africa: Precision Engineering Machines Market, by End Use, 2019-2032 (USD Billion)
- 6.6.2. Precision Engineering Machines Market - Saudi Arabia
- 6.6.2.1. Saudi Arabia: Precision Engineering Machines Market, by End Use, 2019-2032 (USD Billion)
- 6.6.3. Precision Engineering Machines Market - UAE
- 6.6.3.1. UAE: Precision Engineering Machines Market, by End Use, 2019-2032 (USD Billion)
- 6.6.4. Precision Engineering Machines Market - Israel
- 6.6.4.1. Israel: Precision Engineering Machines Market, by End Use, 2019-2032 (USD Billion)
- 6.6.5. Precision Engineering Machines Market - South Africa
- 6.6.5.1. South Africa: Precision Engineering Machines Market, by End Use, 2019-2032 (USD Billion)
- 6.7. Precision Engineering Machines Market - Latin America
- 6.7.1. Latin America: Precision Engineering Machines Market, by End Use, 2019-2032 (USD Billion)
- 6.7.2. Precision Engineering Machines Market - Mexico
- 6.7.2.1. Mexico: Precision Engineering Machines Market, by End Use, 2019-2032 (USD Billion)
- 6.7.3. Precision Engineering Machines Market - Brazil
- 6.7.3.1. Brazil: Precision Engineering Machines Market, by End Use, 2019-2032 (USD Billion)
- 6.7.4. Precision Engineering Machines Market - Argentina
- 6.7.4.1. Argentina: Precision Engineering Machines Market, by End Use, 2019-2032 (USD Billion)
7. Competitive Landscape
- 7.1. Expansion and Acquisition Analysis
- 7.1.1. Expansion
- 7.1.2. Acquisitions
- 7.2. Partnerships/Collaborations/Agreements/Exhibitions
8. Company Profiles
- 8.1. Amada Machine Tools Co
- 8.1.1. Company Overview
- 8.1.2. Financial Performance
- 8.1.3. Product Benchmarking
- 8.1.4. Recent Development
- 8.2. Amera-Seiki
- 8.2.1. Company Overview
- 8.2.2. Financial Performance
- 8.2.3. Product Benchmarking
- 8.2.4. Recent Development
- 8.3. DATRON
- 8.3.1. Company Overview
- 8.3.2. Financial Performance
- 8.3.3. Product Benchmarking
- 8.3.4. Recent Development
- 8.4. Dalian Machine Tool Group
- 8.4.1. Company Overview
- 8.4.2. Financial Performance
- 8.4.3. Product Benchmarking
- 8.4.4. Recent Development
- 8.5. DMG Mori
- 8.5.1. Company Overview
- 8.5.2. Financial Performance
- 8.5.3. Product Benchmarking
- 8.5.4. Recent Development
- 8.6. FANUC Corporation
- 8.6.1. Company Overview
- 8.6.2. Financial Performance
- 8.6.3. Product Benchmarking
- 8.6.4. Recent Development
- 8.7. Haas Automation
- 8.7.1. Company Overview
- 8.7.2. Financial Performance
- 8.7.3. Product Benchmarking
- 8.7.4. Recent Development
- 8.8. Hurco Companies
- 8.8.1. Company Overview
- 8.8.2. Financial Performance
- 8.8.3. Product Benchmarking
- 8.8.4. Recent Development
- 8.9. Okuma Corporation
- 8.9.1. Company Overview
- 8.9.2. Financial Performance
- 8.9.3. Product Benchmarking
- 8.9.4. Recent Development
- 8.10. Shenyang Machine Tool
- 8.10.1. Company Overview
- 8.10.2. Financial Performance
- 8.10.3. Product Benchmarking
- 8.10.4. Recent Development
- 8.11. Yamazaki Mazak Corporation
- 8.11.1. Company Overview
- 8.11.2. Financial Performance
- 8.11.3. Product Benchmarking
- 8.11.4. Recent Development
List of Tables
- Table 1 Global Precision Engineering Machines Market, by End Use, 2019-2032 (USD Billion)
- Table 2 Precision Engineering Machines Market Assessment, By Geography, 2019-2032 (USD Billion)
- Table 3 North America: Precision Engineering Machines Market, by End Use, 2019-2032 (USD Billion)
- Table 4 U.S.: Precision Engineering Machines Market, by End Use, 2019-2032 (USD Billion)
- Table 5 Canada: Precision Engineering Machines Market, by End Use, 2019-2032 (USD Billion)
- Table 6 Canada: Precision Engineering Machines Market, by End Use, 2019-2032 (USD Billion)
- Table 7 Europe: Precision Engineering Machines Market, by End Use, 2019-2032 (USD Billion)
- Table 8 Spain: Precision Engineering Machines Market, by End Use, 2019-2032 (USD Billion)
- Table 9 Netherlands: Precision Engineering Machines Market, by End Use, 2019-2032 (USD Billion)
- Table 10 Austria: Precision Engineering Machines Market, by End Use, 2019-2032 (USD Billion)
- Table 11 Germany: Precision Engineering Machines Market, by End Use, 2019-2032 (USD Billion)
- Table 12 Italy: Precision Engineering Machines Market, by End Use, 2019-2032 (USD Billion)
- Table 13 France: Precision Engineering Machines Market, by End Use, 2019-2032 (USD Billion)
- Table 14 Asia Pacific: Precision Engineering Machines Market, by End Use, 2019-2032 (USD Billion)
- Table 15 China: Precision Engineering Machines Market, by End Use, 2019-2032 (USD Billion)
- Table 16 Japan: Precision Engineering Machines Market, by End Use, 2019-2032 (USD Billion)
- Table 17 India: Precision Engineering Machines Market, by End Use, 2019-2032 (USD Billion)
- Table 18 Indonesia: Precision Engineering Machines Market, by End Use, 2019-2032 (USD Billion)
- Table 19 South Korea: Precision Engineering Machines Market, by End Use, 2019-2032 (USD Billion)
- Table 20 Malaysia: Precision Engineering Machines Market, by End Use, 2019-2032 (USD Billion)
- Table 21 Latin America: Precision Engineering Machines Market, by End Use, 2019-2032 (USD Billion)
- Table 22 Brazil: Precision Engineering Machines Market, by End Use, 2019-2032 (USD Billion)
- Table 23 Mexico: Precision Engineering Machines Market, by End Use, 2019-2032 (USD Billion)
- Table 24 Argentina: Precision Engineering Machines Market, by End Use, 2019-2032 (USD Billion)
- Table 25 Middle East & Africa: Precision Engineering Machines Market, by End Use, 2019-2032 (USD Billion)
- Table 26 South Africa: Precision Engineering Machines Market, by End Use, 2019-2032 (USD Billion)
- Table 27 Israel: Precision Engineering Machines Market, by End Use, 2019-2032 (USD Billion)
- Table 28 Saudi Arabia: Precision Engineering Machines Market, by End Use, 2019-2032 (USD Billion)
- Table 29 UAE: Precision Engineering Machines Market, by End Use, 2019-2032 (USD Billion)
List of Figures
- Figure 1 Global Precision Engineering Machines Market, 2019-2032 (USD Billion)
- Figure 2 Integrated Ecosystem
- Figure 3 Research Methodology: Top-Down & Bottom-Up Approach
- Figure 4 Market by Geography
- Figure 5 Porter's Five Forces
- Figure 6 Market by End Use
- Figure 7 Global Precision Engineering Machines Market, by End Use, 2022 & 2032 (USD Billion)
- Figure 8 Precision Engineering Machines Market Assessment, By Geography, 2019-2032 (USD Billion)
- Figure 9 Strategic Analysis - Precision Engineering Machines Market
