The Machine Tools Market is Set to Reach Revenue of $171.37 Billion by 2029, More than $44 Billion Opportunities in the Next 6 Years – Arizton

Machine Tools Market Research Report by Arizton

According to Arizton’s latest research report, the global machine tools market is growing at a CAGR of 5.07% during 2023-2029.

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Report Scope:               

Market Size Consumption (2029): $171.37 Billion     

Market Size Consumption (2023): $127.39 Billion 

CAGR (2023-2029): 5.07%           

Historic Year: 2020-2022                       

Base Year: 2023                       

Forecast Year: 2024-2029                       

Market Segmentation: Tool Type, Metal Cutting, Metal Forming, Technology, End-User, and Geography

Geographical Analysis: Europe, North America, APAC, Latin America, and Middle East & Africa  

The global machine tools market has seen steady growth, driven by advancements in automation, precision, and AI integration. The demand for high-precision, mass production, and automation has surged, especially post-COVID-19, as companies seek to reduce workforce presence. Industries like automotive, healthcare, defense, and logistics are key drivers of this demand. The rise of Industry 4.0, IoT, and smart tools like collaborative robots (co-bots) are major innovations. Geographically, established markets like Europe and North America show strong replacement demand, while emerging markets in APAC, Latin America, and the Middle East are fueling growth through new installations. Sustainability pressures are also influencing market trends.

APAC: The Next Growth Frontier for the Global Machine Tools Market

The APAC machine tools market is set for remarkable growth, driven by the economic and infrastructural recovery post-COVID-19. Major players like China and India are leading the charge, with both nations ramping up development efforts since mid-2020. But it’s not just the giants—emerging economies such as Taiwan, Malaysia, and Vietnam also present significant opportunities for manufacturers.

As a global economic hub, APAC accounts for a large share of global GDP, with countries like China, Japan, South Korea, and Australia driving the market. China, the world’s largest manufacturing economy, is central to this growth, producing everything from electronics to heavy machinery.

Rapid urbanization and industrialization across the region are fueling demand for machine tools, particularly in countries like Indonesia, Vietnam, and Thailand. These nations are becoming key manufacturing hubs, attracting foreign investments, and driving demand for equipment like bending, forming, cutting, and milling machines—essential for the growing construction and automotive sectors. The future of machine tools in APAC looks increasingly promising.

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Vendors Activities

The global machine tools market is highly fragmented, with numerous regional and local players alongside several major industry leaders. Companies such as DN Solutions, AMADA Group, Makino, and JTEKT Corporation currently dominate the market in terms of market share.

To strengthen their market presence and expand geographically, these leading companies focus on key strategies such as product innovation, mergers and acquisitions (M&A), and strategic partnerships. Collaborations with original equipment manufacturers (OEMs) and other industry stakeholders are common, allowing companies to develop integrated solutions and improve their reach.

Vendors are also diversifying their product portfolios to serve a broader range of industries, offering ergonomic and customized solutions for specific applications and customer needs.

• On September 6, 2023, DMG MORI announced the acquisition of KURAKI, owned by Kurabo Industries. By integrating KURAKI’s innovative development and production techniques, DMG MORI aims to enhance its product offerings and expand its customer base.
• On January 29, 2024, ModuleWorks, a leading software provider for the CAD/CAM industry, announced a partnership with DN Solutions, a prominent CNC machine tool manufacturer. The partnership will focus on the joint development of machine tool software and the creation of integrated solutions to facilitate the digital transformation of the manufacturing sector.

Key Vendors

• DN Solutions
• AMADA Group
• Makino
• JTEKT Corporation
• GF Machining Solutions 
• DMG MORI
• Komatsu NTC
• Okuma Corporation
• HYUNDAI WIA
• Schuler Group
• CHIRON Group
• InCompass
• FALCON Machine Tools
• FFG
• SPINNER
• Haas Automation
• Gleason Corporation
• General Technology Group Dalian Machine Tool
• Yamazaki Mazak Corporation
• AceMicromatic
• Siemens
• TRUMPF
• Shenyang Machine Tool
• Electronica HiTech Machine Tools
• GROB-WERKE

Segmentation & Forecast

Tool Type

• Metal Cutting
• Metal Forming
• Metal Cutting
• Machining Center
• Lathe
• Grinding & Polishing
• Laser, EDMS, & Other Tools
• Others
• Metal Forming
• Bending & Forming
• Pressing
• Punching & Shearing
• Others

Technology

• CNC
• Non-CNC

End-User

• Automotive
• Industrial Machinery
• Metal Industry
• Electrical & Electronics
• Medical Industry
• Heavy Equipment
• Aerospace & Defense
• Marine & Offshoring
• Other End-Users

Geography

APAC

• China
• Japan
• India
• South Korea

Europe

• Germany
• France
• Italy
• The UK
• Spain
• Switzerland

North America

• The US
• Canada

Latin America

• Mexico
• Brazil
• Middle East & Africa
• Saudi Arabia
• South Africa

The Arizton Advisory & Intelligence market research report provides valuable market insights for industry stakeholders, investors, researchers, consultants, and business strategists aiming to gain a thorough understanding of the machine tools market. Request for Free Sample to get a glance of the report now: https://www.arizton.com/market-reports/machine-tools-market-size 

What Key Findings Will Our Research Analysis Reveal?             

How big is the global machine tools market based on consumption?

Which region dominates the global machine tools market share?

Who are the major players in the global machine tools market?

What are the factors driving the global machine tools market growth?

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