Machine Tools Market Size, Share, Trends, Industry Analysis Report: By Product, Technology, Industry Vertical, and Region

Description

List of Tables

The global machine tools market size is expected to reach USD 189.65 billion by 2034, according to a new study by Polaris Market Research. The report "Machine Tools Market Size, Share, Trends, Industry Analysis Report: By Product (Milling Machines, Drilling Machines, Turning Machines, and Grinding Machines), Technology, Industry Vertical, and Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Market Forecast, 2025-2034" gives a detailed insight into current market dynamics and provides analysis on future market growth.

Machine tools, including lathes, milling machines, grinders, and computer numerical control (CNC) systems, are used across various sectors such as automotive, aerospace, electronics, and heavy equipment manufacturing. These tools enable the cutting, shaping, and finishing of metals, composites, and other materials with exceptional accuracy and efficiency. The global machine tools market has experienced consistent growth over the years due to advancements in technology, increasing demand for automation, and the rapid pace of industrialization, particularly in emerging economies.

The adoption of automation and smart manufacturing techniques is propelling the demand for machine tools. The integration of Industry 4.0 principles, which include the use of the Internet of Things (IoT), artificial Intelligence (AI), and big data, has transformed machine tools into intelligent systems capable of real-time monitoring, predictive maintenance, and enhanced productivity. These innovations have reduced operational costs, improved product quality, and minimized downtime, making them crucial for modern manufacturers. Furthermore, CNC machines have gained significant attraction and adoption due to their ability to execute complex designs with unmatched precision, catering to industries that require complex components, such as aerospace and medical devices.

Key Highlights of Machine Tools Market Report

In terms of product, the milling machines segment accounted for a major machine tools market share in 2024 owing to the increased need for complex parts in industries such as aerospace, automotive, and medical devices that require precision and versatility.

Based on industry vertical, the automotive segment held the largest market share in 2024 due to the industry's reliance on machine tools for manufacturing high-precision components.

Asia Pacific dominated the market with the largest revenue share in 2024 due to rapid industrialization, government investments, and the presence of manufacturing hubs in China, Japan, and South Korea.

The Middle East and Africa machine tools market is projected to witness rapid growth during the forecast period, driven by increasing investments in industrial diversification and manufacturing, particularly in countries such as the UAE and Saudi Arabia

Some of the global key market players are Komatsu Ltd; Makino Inc.; Okuma Corporation; Hurco Companies, Inc.; Dalian Machine Tool Group; Amera Seiki; Haas Automation, Inc; Datron AG; Amada Machine Tools Co., Ltd.; CHIRON GROUP SE; DMG MORI. CO., LTD.; DN Solutions; Georg Fischer Ltd.; HYUNDAI WIA CORP; and JTEKT Corporation.

Polaris Market Research has segmented the machine tools market research report on the basis of product, technology, industry vertical, and region:

By Product Outlook (Revenue - USD Billion, 2020-2034)

Milling Machines
Drilling Machines
Turning Machines
Grinding Machines

By Technology Outlook (Revenue - USD Billion, 2020-2034)

CNC (Computerized Numerical Control) Machines
Conventional Machines

By Industry Vertical Outlook (Revenue - USD Billion, 2020-2034)

Automotive
Aerospace
Electronics
Construction
Others

By Regional Outlook (Revenue - USD Billion, 2020-2034)

North America
US
Canada
Europe
Germany
France
UK
Italy
Spain
Netherlands
Russia
Rest of Europe
Asia Pacific
China
Japan
India
Malaysia
South Korea
Indonesia
Australia
Vietnam
Rest of Asia Pacific
Middle East & Africa
Saudi Arabia
UAE
Israel
South Africa
Rest of Middle East & Africa
Latin America
Mexico
Brazil
Argentina
Rest of Latin America

Product Code: PM2011

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 Source
- 3.2.1. Primary Source
- 3.2.2. Secondary Source

4. Global Machine Tools Market Insights

4.1. Machine Tools Market - Market Snapshot
4.2. Machine Tools Market Dynamics
- 4.2.1. Drivers and Opportunities
  - 4.2.1.1. Increasing Demand for Automation in Industries
  - 4.2.1.2. Increasing production of automobiles globally
- 4.2.2. Restraints and Challenges
  - 4.2.2.1. High cost
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. PESTEL Analysis
4.5. Machine Tools Market Trends
4.6. Value Chain Analysis
4.7. COVID-19 Impact Analysis

5. Global Machine Tools Market, by Product

5.1. Key Findings
5.2. Introduction
- 5.2.1. Global Machine Tools Market, by Product, 2020-2034 (USD Billion)
5.3. Milling Machines
- 5.3.1. Global Machine Tools Market, by Milling Machines, by Region, 2020-2034 (USD Billion)
5.4. Drilling Machines
- 5.4.1. Global Machine Tools Market, by Drilling Machines, by Region, 2020-2034 (USD Billion)
5.5. Turning Machines
- 5.5.1. Global Machine Tools Market, by Turning Machines, by Region, 2020-2034 (USD Billion)
5.6. Grinding Machines
- 5.6.1. Global Machine Tools Market, by Grinding Machines, by Region, 2020-2034 (USD Billion)

6. Global Machine Tools Market, by Technology

6.1. Key Findings
6.2. Introduction
- 6.2.1. Global Machine Tools Market, by Technology, 2020-2034 (USD Billion)
6.3. CNC (Computerized Numerical Control) Machines
- 6.3.1. Global Machine Tools Market, by CNC (Computerized Numerical Control) Machines, by Region, 2020-2034 (USD Billion)
6.4. Conventional Machines
- 6.4.1. Global Machine Tools Market, by Conventional Machines, by Region, 2020-2034 (USD Billion)

7. Global Machine Tools Market, by Industry Vertical

7.1. Key Findings
7.2. Introduction
- 7.2.1. Global Machine Tools Market, by Industry Vertical, 2020-2034 (USD Billion)
7.3. Automotive
- 7.3.1. Global Machine Tools Market, by Automotive, by Region, 2020-2034 (USD Billion)
7.4. Aerospace
- 7.4.1. Global Machine Tools Market, by Aerospace, by Region, 2020-2034 (USD Billion)
7.5. Electronics
- 7.5.1. Global Machine Tools Market, by Electronics, by Region, 2020-2034 (USD Billion)
7.6. Construction
- 7.6.1. Global Machine Tools Market, by Construction, by Region, 2020-2034 (USD Billion)
7.7. Other
- 7.7.1. Global Machine Tools Market, by Others, by Region, 2020-2034 (USD Billion)

8. Global Machine Tools Market, by Geography

8.1. Key Findings
8.2. Introduction
- 8.2.1. Machine Tools Market Assessment, By Geography, 2020-2034 (USD Billion)
8.3. Machine Tools Market - North America
- 8.3.1. North America: Machine Tools Market, by Product, 2020-2034 (USD Billion)
- 8.3.2. North America: Machine Tools Market, by Technology, 2020-2034 (USD Billion)
- 8.3.3. North America: Machine Tools Market, by Industry Vertical, 2020-2034 (USD Billion)
- 8.3.4. Machine Tools Market - U.S.
  - 8.3.4.1. U.S.: Machine Tools Market, by Product, 2020-2034 (USD Billion)
  - 8.3.4.2. U.S.: Machine Tools Market, by Technology, 2020-2034 (USD Billion)
  - 8.3.4.3. U.S.: Machine Tools Market, by Industry Vertical, 2020-2034 (USD Billion)
- 8.3.5. Machine Tools Market - Canada
  - 8.3.5.1. Canada: Machine Tools Market, by Product, 2020-2034 (USD Billion)
  - 8.3.5.2. Canada: Machine Tools Market, by Technology, 2020-2034 (USD Billion)
  - 8.3.5.3. Canada: Machine Tools Market, by Industry Vertical, 2020-2034 (USD Billion)
8.4. Machine Tools Market - Europe
- 8.4.1. Europe: Machine Tools Market, by Product, 2020-2034 (USD Billion)
- 8.4.2. Europe: Machine Tools Market, by Technology, 2020-2034 (USD Billion)
- 8.4.3. Europe: Machine Tools Market, by Industry Vertical, 2020-2034 (USD Billion)
- 8.4.4. Machine Tools Market - UK
  - 8.4.4.1. UK: Machine Tools Market, by Product, 2020-2034 (USD Billion)
  - 8.4.4.2. UK: Machine Tools Market, by Technology, 2020-2034 (USD Billion)
  - 8.4.4.3. UK: Machine Tools Market, by Industry Vertical, 2020-2034 (USD Billion)
- 8.4.5. Machine Tools Market - France
  - 8.4.5.1. France: Machine Tools Market, by Product, 2020-2034 (USD Billion)
  - 8.4.5.2. France: Machine Tools Market, by Technology, 2020-2034 (USD Billion)
  - 8.4.5.3. France: Machine Tools Market, by Industry Vertical, 2020-2034 (USD Billion)
- 8.4.6. Machine Tools Market - Germany
  - 8.4.6.1. Germany: Machine Tools Market, by Product, 2020-2034 (USD Billion)
  - 8.4.6.2. Germany: Machine Tools Market, by Technology, 2020-2034 (USD Billion)
  - 8.4.6.3. Germany: Machine Tools Market, by Industry Vertical, 2020-2034 (USD Billion)
- 8.4.7. Machine Tools Market - Italy
  - 8.4.7.1. Italy: Machine Tools Market, by Product, 2020-2034 (USD Billion)
  - 8.4.7.2. Italy: Machine Tools Market, by Technology, 2020-2034 (USD Billion)
  - 8.4.7.3. Italy: Machine Tools Market, by Industry Vertical, 2020-2034 (USD Billion)
- 8.4.8. Machine Tools Market - Spain
  - 8.4.8.1. Spain: Machine Tools Market, by Product, 2020-2034 (USD Billion)
  - 8.4.8.2. Spain: Machine Tools Market, by Technology, 2020-2034 (USD Billion)
  - 8.4.8.3. Spain: Machine Tools Market, by Industry Vertical, 2020-2034 (USD Billion)
- 8.4.9. Machine Tools Market - Netherlands
  - 8.4.9.1. Netherlands: Machine Tools Market, by Product, 2020-2034 (USD Billion)
  - 8.4.9.2. Netherlands: Machine Tools Market, by Technology, 2020-2034 (USD Billion)
  - 8.4.9.3. Netherlands: Machine Tools Market, by Industry Vertical, 2020-2034 (USD Billion)
- 8.4.10. Machine Tools Market - Russia
  - 8.4.10.1. Russia: Machine Tools Market, by Product, 2020-2034 (USD Billion)
  - 8.4.10.2. Russia: Machine Tools Market, by Technology, 2020-2034 (USD Billion)
  - 8.4.10.3. Russia: Machine Tools Market, by Industry Vertical, 2020-2034 (USD Billion)
- 8.4.11. Machine Tools Market - Rest of Europe
  - 8.4.11.1. Rest of Europe: Machine Tools Market, by Product, 2020-2034 (USD Billion)
  - 8.4.11.2. Rest of Europe: Machine Tools Market, by Technology, 2020-2034 (USD Billion)
  - 8.4.11.3. Rest of Europe: Machine Tools Market, by Industry Vertical, 2020-2034 (USD Billion)
8.5. Machine Tools Market - Asia Pacific
- 8.5.1. Asia Pacific: Machine Tools Market, by Product, 2020-2034 (USD Billion)
- 8.5.2. Asia Pacific: Machine Tools Market, by Technology, 2020-2034 (USD Billion)
- 8.5.3. Asia Pacific: Machine Tools Market, by Industry Vertical, 2020-2034 (USD Billion)
- 8.5.4. Machine Tools Market - China
  - 8.5.4.1. China: Machine Tools Market, by Product, 2020-2034 (USD Billion)
  - 8.5.4.2. China: Machine Tools Market, by Technology, 2020-2034 (USD Billion)
  - 8.5.4.3. China: Machine Tools Market, by Industry Vertical, 2020-2034 (USD Billion)
- 8.5.5. Machine Tools Market - India
  - 8.5.5.1. India: Machine Tools Market, by Product, 2020-2034 (USD Billion)
  - 8.5.5.2. India: Machine Tools Market, by Technology, 2020-2034 (USD Billion)
  - 8.5.5.3. India: Machine Tools Market, by Industry Vertical, 2020-2034 (USD Billion)
- 8.5.6. Machine Tools Market - Malaysia
  - 8.5.6.1. Malaysia: Machine Tools Market, by Product, 2020-2034 (USD Billion)
  - 8.5.6.2. Malaysia: Machine Tools Market, by Technology, 2020-2034 (USD Billion)
  - 8.5.6.3. Malaysia: Machine Tools Market, by Industry Vertical, 2020-2034 (USD Billion)
- 8.5.7. Machine Tools Market - Japan
  - 8.5.7.1. Japan: Machine Tools Market, by Product, 2020-2034 (USD Billion)
  - 8.5.7.2. Japan: Machine Tools Market, by Technology, 2020-2034 (USD Billion)
  - 8.5.7.3. Japan: Machine Tools Market, by Industry Vertical, 2020-2034 (USD Billion)
- 8.5.8. Machine Tools Market - Indonesia
  - 8.5.8.1. Indonesia: Machine Tools Market, by Product, 2020-2034 (USD Billion)
  - 8.5.8.2. Indonesia: Machine Tools Market, by Technology, 2020-2034 (USD Billion)
  - 8.5.8.3. Indonesia: Machine Tools Market, by Industry Vertical, 2020-2034 (USD Billion)
- 8.5.9. Machine Tools Market - South Korea
  - 8.5.9.1. South Korea: Machine Tools Market, by Product, 2020-2034 (USD Billion)
  - 8.5.9.2. South Korea: Machine Tools Market, by Technology, 2020-2034 (USD Billion)
  - 8.5.9.3. South Korea: Machine Tools Market, by Industry Vertical, 2020-2034 (USD Billion)
- 8.5.10. Machine Tools Market - Australia
  - 8.5.10.1. Australia: Machine Tools Market, by Product, 2020-2034 (USD Billion)
  - 8.5.10.2. Australia: Machine Tools Market, by Technology, 2020-2034 (USD Billion)
  - 8.5.10.3. Australia: Machine Tools Market, by Industry Vertical, 2020-2034 (USD Billion)
- 8.5.11. Machine Tools Market - Rest of Asia Pacific
  - 8.5.11.1. Rest of Asia Pacific: Machine Tools Market, by Product, 2020-2034 (USD Billion)
  - 8.5.11.2. Rest of Asia Pacific: Machine Tools Market, by Technology, 2020-2034 (USD Billion)
  - 8.5.11.3. Rest of Asia Pacific: Machine Tools Market, by Industry Vertical, 2020-2034 (USD Billion)
8.6. Machine Tools Market - Middle East & Africa
- 8.6.1. Middle East & Africa: Machine Tools Market, by Product, 2020-2034 (USD Billion)
- 8.6.2. Middle East & Africa: Machine Tools Market, by Technology, 2020-2034 (USD Billion)
- 8.6.3. Middle East & Africa: Machine Tools Market, by Industry Vertical, 2020-2034 (USD Billion)
- 8.6.4. Machine Tools Market - Saudi Arabia
  - 8.6.4.1. Saudi Arabia: Machine Tools Market, by Product, 2020-2034 (USD Billion)
  - 8.6.4.2. Saudi Arabia: Machine Tools Market, by Technology, 2020-2034 (USD Billion)
  - 8.6.4.3. Saudi Arabia: Machine Tools Market, by Industry Vertical, 2020-2034 (USD Billion)
- 8.6.5. Machine Tools Market - UAE
  - 8.6.5.1. UAE: Machine Tools Market, by Product, 2020-2034 (USD Billion)
  - 8.6.5.2. UAE: Machine Tools Market, by Technology, 2020-2034 (USD Billion)
  - 8.6.5.3. UAE: Machine Tools Market, by Industry Vertical, 2020-2034 (USD Billion)
- 8.6.6. Machine Tools Market - Israel
  - 8.6.6.1. Israel: Machine Tools Market, by Product, 2020-2034 (USD Billion)
  - 8.6.6.2. Israel: Machine Tools Market, by Technology, 2020-2034 (USD Billion)
  - 8.6.6.3. Israel: Machine Tools Market, by Industry Vertical, 2020-2034 (USD Billion)
- 8.6.7. Machine Tools Market - South Africa
  - 8.6.7.1. South Africa: Machine Tools Market, by Product, 2020-2034 (USD Billion)
  - 8.6.7.2. South Africa: Machine Tools Market, by Technology, 2020-2034 (USD Billion)
  - 8.6.7.3. South Africa: Machine Tools Market, by Industry Vertical, 2020-2034 (USD Billion)
- 8.6.8. Machine Tools Market - Rest of Middle East & Africa
  - 8.6.8.1. Rest of Middle East & Africa: Machine Tools Market, by Product, 2020-2034 (USD Billion)
  - 8.6.8.2. Rest of Middle East & Africa: Machine Tools Market, by Technology, 2020-2034 (USD Billion)
  - 8.6.8.3. Rest of Middle East & Africa: Machine Tools Market, by Industry Vertical, 2020-2034 (USD Billion)
8.7. Machine Tools Market - Latin America
- 8.7.1. Latin America: Machine Tools Market, by Product, 2020-2034 (USD Billion)
- 8.7.2. Latin America: Machine Tools Market, by Technology, 2020-2034 (USD Billion)
- 8.7.3. Latin America: Machine Tools Market, by Industry Vertical, 2020-2034 (USD Billion)
- 8.7.4. Machine Tools Market - Mexico
  - 8.7.4.1. Mexico: Machine Tools Market, by Product, 2020-2034 (USD Billion)
  - 8.7.4.2. Mexico: Machine Tools Market, by Technology, 2020-2034 (USD Billion)
  - 8.7.4.3. Mexico: Machine Tools Market, by Industry Vertical, 2020-2034 (USD Billion)
- 8.7.5. Machine Tools Market - Brazil
  - 8.7.5.1. Brazil: Machine Tools Market, by Product, 2020-2034 (USD Billion)
  - 8.7.5.2. Brazil: Machine Tools Market, by Technology, 2020-2034 (USD Billion)
  - 8.7.5.3. Brazil: Machine Tools Market, by Industry Vertical, 2020-2034 (USD Billion)
- 8.7.6. Machine Tools Market - Argentina
  - 8.7.6.1. Argentina: Machine Tools Market, by Product, 2020-2034 (USD Billion)
  - 8.7.6.2. Argentina: Machine Tools Market, by Technology, 2020-2034 (USD Billion)
  - 8.7.6.3. Argentina: Machine Tools Market, by Industry Vertical, 2020-2034 (USD Billion)
- 8.7.7. Machine Tools Market - Rest of Latin America
  - 8.7.7.1. Rest of Latin America: Machine Tools Market, by Product, 2020-2034 (USD Billion)
  - 8.7.7.2. Rest of Latin America: Machine Tools Market, by Technology, 2020-2034 (USD Billion)
  - 8.7.7.3. Rest of Latin America: Machine Tools Market, by Industry Vertical, 2020-2034 (USD Billion)

9. Competitive Landscape

9.1. Expansion and Acquisition Analysis
- 9.1.1. Expansion
- 9.1.2. Acquisitions
9.2. Partnerships/Collaborations/Agreements/Exhibitions

10. Company Profiles

10.1. Komatsu Ltd
- 10.1.1. Company Overview
- 10.1.2. Financial Performance
- 10.1.3. Product Benchmarking
- 10.1.4. Recent Development
10.2. Makino Inc.
- 10.2.1. Company Overview
- 10.2.2. Financial Performance
- 10.2.3. Product Benchmarking
- 10.2.4. Recent Development
10.3. Okuma Corporation
- 10.3.1. Company Overview
- 10.3.2. Financial Performance
- 10.3.3. Product Benchmarking
- 10.3.4. Recent Development
10.4. Hurco Companies, Inc.
- 10.4.1. Company Overview
- 10.4.2. Financial Performance
- 10.4.3. Product Benchmarking
- 10.4.4. Recent Development
10.5. Dalian Machine Tool Group
- 10.5.1. Company Overview
- 10.5.2. Financial Performance
- 10.5.3. Product Benchmarking
- 10.5.4. Recent Development
10.6. Amera Seiki
- 10.6.1. Company Overview
- 10.6.2. Financial Performance
- 10.6.3. Product Benchmarking
- 10.6.4. Recent Development
10.7. Haas Automation, Inc.
- 10.7.1. Company Overview
- 10.7.2. Financial Performance
- 10.7.3. Product Benchmarking
- 10.7.4. Recent Development
10.8. Datron AG
- 10.8.1. Company Overview
- 10.8.2. Financial Performance
- 10.8.3. Product Benchmarking
- 10.8.4. Recent Development
10.9. Amada Machine Tools Co., Ltd.
- 10.9.1. Company Overview
- 10.9.2. Financial Performance
- 10.9.3. Product Benchmarking
- 10.9.4. Recent Development
10.10. CHIRON GROUP SE
- 10.10.1. Company Overview
- 10.10.2. Financial Performance
- 10.10.3. Product Benchmarking
- 10.10.4. Recent Development
10.11. DMG MORI. CO., LTD.
- 10.11.1. Company Overview
- 10.11.2. Financial Performance
- 10.11.3. Product Benchmarking
- 10.11.4. Recent Development
10.12. DN Solutions
- 10.12.1. Company Overview
- 10.12.2. Financial Performance
- 10.12.3. Product Benchmarking
- 10.12.4. Recent Development
10.13. Georg Fischer Ltd.
- 10.13.1. Company Overview
- 10.13.2. Financial Performance
- 10.13.3. Product Benchmarking
- 10.13.4. Recent Development
10.14. Mazak Corporation
- 10.14.1. Company Overview
- 10.14.2. Financial Performance
- 10.14.3. Product Benchmarking
- 10.14.4. Recent Development
10.15. HYUNDAI WIA CORP
- 10.15.1. Company Overview
- 10.15.2. Financial Performance
- 10.15.3. Product Benchmarking
- 10.15.4. Recent Development