Global Machine Tools Market by Product Type (Milling Machines, Turning Machines, Grinding Machines, EDM), Automation Type (CNC and Conventional), End-User Industry (Automotive, Capital Goods), Sales Channel and Region - Global Forecast to 2030
[262 Pages Report] The global machine tools market size was valued at USD 78.6 billion in 2023 and is expected to reach USD billion by 2030, at a CAGR of 4.2% during the forecast period 2023-2030. The rising demand for manufactured goods across diverse industries catalyzes the growth and evolution of the global machine tools market. This demand fuels the development of more advanced, efficient, and specialized machine tools capable of meeting the intricate and diverse needs of the modern manufacturing process. As the demand for precision, customization, and high-volume production continues to surge, the machine tools market is propelled forward, fostering innovation and technological advancements.
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Market Dynamics:
Driver: Increasing demand for precision and efficiency
Industries such as automotive, aerospace, electronics, and healthcare sectors have stringent demands for high-precision components. Machine tools need to meet these requirements to ensure the production of intricate parts with minimal error margins. As product designs become more complex and sophisticated, the need for tight tolerances and impeccable quality standards rises. Machine tools with cutting-edge technologies, such as computer numerical control (CNC), provide the precision necessary to meet these exact specifications.
Precision in manufacturing directly correlates with minimized waste and rework. High-precision machine tools ensure that parts are manufactured accurately the first time, reducing material wastage and the need for costly reworking processes. Integrating digital technologies and data-driven solutions in machine tools also allows for predictive maintenance, real-time monitoring, and adaptive control. This integration enhances precision and efficiency while minimizing downtime.
The global machine tools market responds to these demands by continually innovating and developing cutting-edge technologies. Manufacturers invest in research and development to create more precise, efficient, and adaptable tools capable of meeting the evolving needs of modern manufacturing. The focus on precision and efficiency remains a key driver, guiding the market towards advancements that push the boundaries of what is achievable in manufacturing processes.
Restraint: High initial investment costs
The cost of buying advanced machine tools is high. This is a major factor impeding the global machine tool market's expansion. Depending on the brand and model, brand-new CNC lathes and routers can cost thousands of dollars. The expenses incurred by organizations that use CNC machines are subsequently raised by these investments, which also include shipping, installation, operating, and maintenance expenditures. CNC machines have a large weight range of 100 pounds to several tons. Purchase agreements typically cover transportation expenses; if not, customers may have to pay hundreds of dollars in additional fees.
Additionally, CNC machines can be tailored to meet the needs and specifications of final customers. The applications for which CNC machines are intended vary in their requirements. In addition, CNC machines need to be updated, when the manufacturing process or products undergo significant modifications that result in elevated expenses. These high costs associated with the overall operation of CNC machines are the key factors considered in making purchase decisions. They are expected to hinder the adoption of CNC machines, especially across cost-sensitive regions and industries. Therefore, high installation and maintenance costs about machine tools are expected to prove to be a restraining factor for the growth of the global machine tools market.
Opportunity: Increasing adoption of CNC technology
The adoption of computer numerical control (CNC) technology in machine tools has been transformative in the manufacturing industry. CNC technology has revolutionized machining processes by offering precision, efficiency, and automation. CNC technology allows for incredibly precise and accurate machining operations. Machines controlled by computer programs ensure consistent quality, reducing errors and improving the overall precision of manufactured parts.
CNC machines operate continuously and can run multiple tasks without manual intervention, leading to higher productivity. Automated tool changes, faster cutting speeds, and reduced setup times contribute to increased efficiency in production. CNC technology enables the production of intricate and complex parts that might be challenging or impossible to manufacture using conventional methods. This capability is especially crucial in industries like aerospace, automotive, and medical devices. CNC machines are often integrated with Computer-Aided Design (CAD) and Computer-Aided Manufacturing (CAM) software. This integration allows for seamless translation of design specifications into machine instructions, optimizing the manufacturing process. Manufacturers are developing new products. For instance, in April 2023, Okuma Corporation developed the LB3000 EX? CNC lathe and MB-46V ? vertical machining center, which are world-class Green-Smart Machines with high precision and energy-saving performance.
The adoption of CNC technology in machine tools continues to grow as manufacturers seek ways to improve precision, increase productivity, and stay competitive in a rapidly evolving market. The ongoing advancements in CNC technology will likely drive further innovation and expansion of its applications in the manufacturing industry.
Challenge: Absence of standardization in industrial communication protocols and interfaces
There is no single dominant protocol or interface for machine tool communication. Instead, many options exist, including MTConnect, OPC UA, Siemens Sinumerik, Fanuc, and Heidenhain. This variety creates incompatibility issues, making it difficult for different machines and devices to talk to each other. Moreover, integrating new machines and devices into existing systems becomes a complex and time-consuming task due to the lack of standardization. This hinders the potential for creating smart factories and interconnected production lines.
The incompatibility between protocols restricts data exchange and limits the ability to collect and analyze valuable production data. This impedes process optimization and informed decision-making. The lack of standardization also necessitates custom adapters and gateways to bridge the communication gap between different machines. This adds to the overall cost and complexity of implementing industrial automation solutions.
The absence of standardization in industrial communication protocols and interfaces for machine tools presents a significant challenge, but the ongoing efforts towards establishing common ground promise a brighter future for the industry. By embracing open standards and collaborative approaches, the machine tool sector can unlock new levels of efficiency, innovation, and competitiveness in the age of Industry 4.0.
Market Ecosystem
CNC machine tools holds the largest market during the forecast period.
CNC machine tools have the largest market share in the global machine tools market. Consumers increasingly demand customized products, which require flexible and agile manufacturing processes. CNC machines can be easily programmed to produce different product variations, making them ideal for meeting customization demands.
Depending on the machining operation, these machines use various cutting tools, including end mills, drills, lathes, and specialized tools. These tools are attached to the machine's tool holder and can be automatically changed during operations. There are various types of machines, such as milling machines, turning machines, electrical discharge machining (EDM) machines, grinding machines, and drilling machines. These machines benefit industries with increased precision, productivity, versatility, and efficiency. Manufacturers are also developing models with advanced features. For instance, in June 2023, Makino Milling Machine Co., Ltd. introduced a horizontal machining center a91nx. This horizontal machining center’s spindle lineup can handle various work materials, such as cast iron and aluminum. Such developments will further drive the demand for CNC machine tools during the forecast period.
Milling machines hold the largest market share during the forecast period.
The milling machine segment is expected to lead the global machine tools market during the forecast period. Industries like aerospace, medical devices, and electronics rely heavily on components with tolerances measured in microns. Traditional machining methods often struggle to achieve such precision, but milling machines excel in this area. Their ability to deliver intricate details and consistently high quality makes them the go-to choice for manufacturers in these demanding sectors. Also, the growing focus on sustainability is shaping the milling machine market. Manufacturers seek machines offering features like reduced energy consumption and minimized waste generation. Modern milling machines are increasingly designed with these factors, incorporating features like optimized cutting paths and eco-friendly coolants, making them more attractive in a sustainability-conscious world. In Addition to this, Manufacturers are developing new products. For instance, in 2023 in India, Lakshmi Machine Works Limited (India) launched the JD I vertical milling machine that is designed for heavy-duty milling with a maximum travel of 1250 x 800 x 760 mm and a table load capacity of 1,500 kg. Such product developments will help various sectors, including manufacturing, automotive and transportation, capital goods, and energy and power, to increase their productivity and accuracy.
Asia Pacific is the largest market for machine tools during the forecast period.
China, Japan, and South Korea lead the Asia Pacific global machine tools market. The region is considered significant in the growth of the global market, both in production and sales. China is the largest machine tools producer and user globally, dominating the market in the region. The aging population in China and Japan has resulted in rising labor costs, leading to the growing adoption of automation. The increasing population is also attracting companies to invest in the Asia Pacific. Some of the most prominent players in the market space are present, such as DMG MORI (Japan) and Okuma Corporation (Japan). Makino Milling Machine Co., Ltd. (Japan), JTEKT Corporation (Japan), DN SOLUTIONS (South Korea), and others are other major factors driving the market in this region. Manufacturers in the Asia Pacific region are investing in building manufacturing plants. For instance, in June 2023, Nidec Machine Tool launched a new cutting tool factory in India to meet the growing demand for automotive and related components by increasing the production capacity by 1.5 times. Such developments are expected to propel the market growth.
Moreover, all the leading players in the global machine tools market are generating the majority of their revenues from the Asian region only. China, Japan, India, and South Korea have a large customer base. These nations are home to companies prioritizing research and development, further contributing to the industry’s potential. Additionally, this region’s demand for advanced machine tools in sectors such as automotive, aerospace, energy, semiconductors, and medical industries is notably high.
Key Market Players
The machine tools market is dominated by established players such as Makino Inc. (Japan), JTEKT Corporation (Japan), Okuma Corporation (Japan), DMG MORI Co., Ltd. (Japan), DN Solutions (South Korea), and others. These companies manufacture machine tools and develop new technologies. These companies have set up R&D facilities and offer best-in-class products to their customers.
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Scope of the Report
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Report Metric |
Details |
Market size available for years |
2019–2030 |
Base year considered |
2022 |
Forecast period |
2023-2030 |
Forecast units |
Value (USD Bn) |
Segments Covered |
Product Type, Automation, Sales Channel, End-User Industry and Region |
Geographies covered |
Asia Pacific, Europe, North America and Rest of the World |
Companies Covered |
Makino Inc. (Japan), JTEKT Corporation (Japan), Okuma Corporation (Japan), DMG MORI Co., Ltd. (Japan), DN Solutions (South Korea) and others. |
This research report categorizes the global machine tools market based on product type, automation, sales channel, end-user industry and region.
Based on Product Type:
- Milling Machines
- Drilling Machines
- Turning Machines
- Grinding Machines
- Electrical Discharge Machine
Based on Automation:
- Conventional Machine Tools
- CNC Machine Tools
Based on Sales Channel:
- Events and Exhibitions
- Dealers and Distributers
- Direct Sales
Based on End-User Industry:
- Aerospace
- Medical
- Semiconductor
- Automotive and Transportation
- Capital Good
- Energy and Power
- Sheet Metals
- Others
Based on the Region:
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Asia Pacific
- China
- Japan
- South Korea
- India
- Thailand
- Taiwan
- Vietnam
- Malaysia
- Rest of Asia Pacific
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North America
- Canada
- US
- Mexico
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Europe
- UK
- Germany
- France
- Italy
- Spain
- Switzerland
- Turkey
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Rest of the World
- Russia
- Brazil
Recent Developments
- In December 2023, DMG MORI partnered with Wilhelm Blessing GmbH & Co. KG and Walter AG for holistic tool solutions, innovative clamping devices, and data-based quality prediction.
- Makino Inc. developed a 5-axis machining center, DA500. It improves the productivity of manufacturing equipment parts that require complex three-dimensional shapes, smooth curved shapes, and high machined surface quality.
- In October 2023, DN Solutions launched 4th-generation vertical machining centers (DNM 4500, DNM 5700, and DNM 6700) with enhanced productivity and reliability. The new DNM Series features thermal displacement compensation as standard to ensure that the machining results never vary regardless of the machine’s environment.
- In August 2023, Okuma Corporation partnered with EMUGE-FRANKEN for a technology program. The new partnership strategically combines high-performance cutting tool solutions and applications expertise from EMUGE-FRANKEN with leading machine tool technology from Okuma.
- In June 2023, Makino Inc. introduced a horizontal machining center, a91nx. This horizontal machining center’s spindle line-up can handle various work materials such as cast iron and aluminum.
Frequently Asked Questions (FAQ):
What is the current size of the machine tools market by value?
The current size of the machine tools market is estimated to be USD 78.6 billion in 2023.
Who are the winners in the machine tools market?
The machine tools market is dominated by established players such as Makino Inc. (Japan), JTEKT Corporation (Japan), Okuma Corporation (Japan), DMG MORI Co., Ltd. (Japan), DN Solutions (South Korea), and others. These companies machine tools and develop new technologies. These companies have set up R&D facilities and offer best-in-class products to their customers.
Which region will have the fastest-growing market for machine tools market?
Asia Pacific will be the fastest-growing machine tools market. The Asia Pacific region boasts a strong and rapidly growing manufacturing sector, particularly in countries such as China, India, and Vietnam. This sector encompasses various industries, including automotive, electronics, aerospace, and consumer goods, all of which rely heavily on machine tools for production.
What are the new market trends impacting the growth of the machine tools market?
The key trends impacting the growth of the machine tools market are smart and Connected Machines, Additive Manufacturing, Flexibility and Customization, and Implementation of AL and ML.
What countries are covered in the Asia Pacific region for the machine tools market?
The countries covered in the report for the machine tools market are China, Japan, South Korea, India, Thailand, Taiwan, Vietnam, Malaysia, and the Rest of APAC. .
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- 5.1 INTRODUCTION
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5.2 MARKET DYNAMICSDRIVERS- Rising adoption of manufactured goods- Increasing demand for precision and efficiency- Increase in automobile production- Growing focus on automationRESTRAINTS- High initial investment costs- Rising popularity of electric vehiclesOPPORTUNITIES- Industry 4.0 and digitization- Increasing adoption of CNC technology- Rising implementation of adaptive machiningCHALLENGES- Absence of standardization in industrial communication protocols and interfaces- Lack of skilled workforce to operate automated machine tools
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5.3 PRICING ANALYSISAVERAGE SELLING PRICE TRENDS OF KEY PLAYERS, BY PRODUCT TYPEAVERAGE SELLING PRICE TRENDS, BY REGION
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5.4 ECOSYSTEM ANALYSISRAW MATERIAL SUPPLIERSMACHINE TOOL COMPONENT MANUFACTURERSCUTTING TOOL MANUFACTURERSSOFTWARE AND DIGITIZATION PROVIDERSMACHINE TOOL MANUFACTURERSDISTRIBUTORS AND DEALERSMAINTENANCE AND REPAIR SERVICE PROVIDERS
- 5.5 VALUE CHAIN ANALYSIS
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5.6 CASE STUDY ANALYSISCIRCLE GMBH INSTALLED ROEDERS 5-AXIS MACHINING CENTER OF HURCO EUROPE TO PRODUCE MACHINE PROTOTYPESJONES NUTTAL INSTALLED PRECISION CNC MACHINES TO IMPROVE OPERATIONAL EFFICIENCY AND RELIABILITYP-Q CONTROLS, INC. USED DETRON NEO CNC MACHINE TO REDUCE OPERATING COSTSHIGH-PRECISION SOLUTION FOR HYPERION MATERIALS & TECHNOLOGIESCUSTOMIZED GRINDING MACHINES FOR MACHINING GEARSHIGH-PRECISION GRINDING MACHINE FOR TURBO-COMPRESSORS FOR VARIOUS MODELS OF MARINE ENGINES
- 5.7 INVESTMENT AND FUNDING SCENARIOS
- 5.8 PATENT ANALYSIS
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5.9 TECHNOLOGY ANALYSISINTRODUCTIONINCLUSION OF SMART FEATURES AND NETWORKSAUTOMATED AND IOT-READY MACHINESCNC SOFTWARE ADVANCEMENTS IN MACHINE TOOLS INDUSTRYARTIFICIAL INTELLIGENCE IN MACHINE TOOLS
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5.10 TARIFF AND REGULATORY LANDSCAPEREGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
- 5.11 TRADE ANALYSIS
- 5.12 KEY CONFERENCES AND EVENTS
- 5.13 TRENDS & DISRUPTIONS IMPACTING CUSTOMER BUSINESS
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5.14 KEY STAKEHOLDERS AND BUYING CRITERIAKEY STAKEHOLDERS IN BUYING PROCESSBUYING CRITERIA
- 6.1 INTRODUCTION
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6.2 MILLING MACHINESADVANCEMENTS IN MILLING MACHINE TECHNOLOGY TO DRIVE MARKETMILLING MACHINES MARKET, BY AXIS TYPE- Milling machines market, by 4-axis- Milling machines market, by 5-axisUNIVERSAL MILLING MACHINESMACHINING CENTERS
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6.3 DRILLING MACHINESRISING DEMAND FOR ACCURATE AND EFFICIENT DRILLING TO DRIVE MARKET
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6.4 TURNING MACHINESRISING DEMAND FOR ACCURACY AND VERSATILITY IN AUTOMOTIVE INDUSTRY TO DRIVE MARKETTURNING MACHINES MARKET, BY TYPE- Turning machines market, by Swiss-type- Turning machines market, by multi-spindleUNIVERSAL TURNING MACHINES
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6.5 GRINDING MACHINESINCREASING DEMAND FOR PRECISION GRINDING OPERATIONS TO DRIVE MARKET
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6.6 ELECTRICAL DISCHARGE MACHINESRISING DEMAND FOR ADVANCED MICRO EDM TECHNIQUES TO DRIVE MARKET
- 6.7 KEY PRIMARY INSIGHTS
- 7.1 INTRODUCTION
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7.2 CNC MACHINE TOOLSRISING DEMAND FOR HIGH-QUALITY, COMPLEX COMPONENTS IN AEROSPACE AND AUTOMOTIVE INDUSTRIES TO DRIVE MARKET
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7.3 CONVENTIONAL MACHINE TOOLSLOWER INITIAL INVESTMENT AND OPERATIONAL COST TO DRIVE MARKET
- 7.4 KEY PRIMARY INSIGHTS
- 8.1 INTRODUCTION
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8.2 DIRECT SALESGROWING DEMAND FOR CUSTOMIZATION AND AFTER-SALES SUPPORT TO DRIVE MARKET
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8.3 EVENTS AND EXHIBITIONSPRODUCT VISIBILITY AND PROMOTION FACTOR TO DRIVE MARKET
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8.4 DEALERS AND DISTRIBUTORSRISING DEMAND FOR AFTER-SALES SERVICE AND SUPPORT TO DRIVE MARKET
- 8.5 KEY PRIMARY INSIGHTS
- 9.1 INTRODUCTION
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9.2 AEROSPACEGROWING ADOPTION OF MACHINE TOOLS FOR PRECISE MANUFACTURING TO DRIVE MARKET
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9.3 MEDICALRISING DEMAND FOR HIGHLY PRECISE MEDICAL DEVICES TO DRIVE MARKET
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9.4 SEMICONDUCTORINCREASING DEMAND FOR MACHINE TOOLS IN DIE- AND WIRE-BONDING PROCESSES TO DRIVE MARKET
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9.5 AUTOMOTIVE AND TRANSPORTATIONRISING FOCUS ON INCREASING MANUFACTURING EFFICIENCY DURING MASS PRODUCTION TO DRIVE MARKET
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9.6 CAPITAL GOODSRISING DEMAND FOR FABRICATED METAL PARTS TO DRIVE MARKET
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9.7 ENERGY AND POWERINCREASING DEMAND FOR EFFICIENT AND SUSTAINABLE ENERGY SOURCES TO DRIVE MARKET
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9.8 SHEET METALINCREASING USE OF SHEET METAL IN MANUFACTURING AND GROWING EMPHASIS ON LIGHTWEIGHT MATERIALS TO DRIVE MARKET
- 9.9 OTHERS
- 9.10 KEY PRIMARY INSIGHTS
- 10.1 INTRODUCTION
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10.2 ASIA PACIFICASIA PACIFIC: RECESSION IMPACTCHINA- Government-led initiatives to promote automation and advanced technologies to drive marketJAPAN- Increasing production of high-precision components for automotive industry to support market growthSOUTH KOREA- Rising demand for advanced machine tools to drive growthINDIA- Rising economic growth and domestic investments to drive marketTHAILAND- Rising government initiatives to drive market growthTAIWAN- Rising investment in high-end equipment to drive market growthVIETNAM- Rising economic growth and industrialization to boost demand for machine toolsMALAYSIA- Growth in key end-user industries to drive market growthREST OF ASIA PACIFIC
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10.3 EUROPEEUROPE: RECESSION IMPACTUK- Technological advancements in automotive industry to fuel adoptionGERMANY- Rising investments in advanced manufacturing processes to encourage market expansionFRANCE- Foreign investments and government-led incentives in electric and hybrid vehicles to boost growthITALY- Rising government support to propel marketSPAIN- Rise in demand for advanced machine tools to spur growthSWITZERLAND- Demand for high-precision components to boost Swiss CNC machines tools marketTURKEY- Metal fabrication and automotive & transportation industries to drive demand for Turkish CNC machine tools market
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10.4 NORTH AMERICANORTH AMERICA: RECESSION IMPACTUS- Rising demand for industrial automation and technological advancements in manufacturing sector to propel marketCANADA- Increasing production of highly precise components in various industries to spur market expansionMEXICO- Rapid growth of automotive industry to drive market
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10.5 REST OF THE WORLDREST OF THE WORLD: RECESSION IMPACTRUSSIA- Decrease in import of necessary raw materials and finished machinery impacting the market growthBRAZIL- Emergence in manufacturing sector to drive market
- 11.1 OVERVIEW
- 11.2 KEY PLAYER STRATEGIES
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11.3 MARKET RANKING ANALYSISMAKINO INC.JTEKT CORPORATIONOKUMA CORPORATIONDMG MORIDN SOLUTIONS
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11.4 COMPANY VALUATION AND FINANCIAL METRICSCOMPANY VALUATION, 2023COMPANY FINANCIAL METRICS, 2023
- 11.5 REVENUE ANALYSIS OF TOP LISTED/PUBLIC PLAYERS
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11.6 COMPETITIVE SCENARIONEW PRODUCT LAUNCHES/DEVELOPMENTSDEALSEXPANSIONS
- 11.7 PRODUCT COMPARISON
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11.8 COMPANY EVALUATION MATRIXSTARSEMERGING LEADERSPERVASIVE PLAYERSPARTICIPANTSCOMPANY FOOTPRINT
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11.9 START-UP/SME EVALUATION MATRIXPROGRESSIVE COMPANIESRESPONSIVE COMPANIESDYNAMIC COMPANIESSTARTING BLOCKSCOMPETITIVE BENCHMARKING
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12.1 KEY PLAYERSMAKINO INC.- Business overview- Products offered- Recent developments- MnM viewJTEKT CORPORATION- Business overview- Products offered- Recent developments- MnM viewOKUMA CORPORATION- Business overview- Products offered- Recent developments- MnM viewDMG MORI- Business overview- Products offered- Recent developments- MnM viewDN SOLUTIONS- Business overview- Products offered- Recent developments- MnM viewGEORG FISCHER LTD.- Business overview- Products offered- Recent developmentsAMADA CO., LTD.- Business overview- Products offered- Recent developmentsHYUNDAI WIA CORP.- Business overview- Products offered- Recent developmentsYAMAZAKI MAZAK CORPORATION- Business overview- Products offered- Recent developmentsCHIRON GROUP SE- Business overview- Products offered- Recent developmentsKOMATSU NTC- Business overview- Products offered- Recent developmentsHAAS AUTOMATION, INC.- Business overview- Products offeredGENERAL TECHNOLOGY GROUP DALIAN MACHINE TOOL CO., LTD.- Business overview- Products offered- Recent developmentsUNITED GRINDING GROUP- Business overview- Products offered- Recent developmentINDEX-WERKE GMBH & CO. KG HAHN & TESSKY- Business overview- Products offeredCITIZEN MACHINERY CO., LTD.- Business overview- Products offered- Recent developments
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12.2 OTHER PLAYERSFFG EUROPEAN & AMERICAN HOLDINGS GMBHHMT MACHINE TOOLS LIMITEDSPINNER WERKZEUGMASCHINENFABRIK GMBHGLEASON CORPORATIONGROB-WERKE GMBH & CO. KGBLASER SWISSLUBECASTROL LIMITEDQUAKER HOUGHTONSCHULER AGELECTRONICA HI-TECH ENGINEERING PVT. LTD.ACEMICROMATIC GROUPTUNGALOY CORPORATIONMACHINE TOOLS INDIA LIMITED
- 13.1 RISING DEVELOPMENT OF CNC MACHINES IN MANUFACTURING PLANTS TO REDUCE OPERATING COSTS AND INCREASE PRODUCTION EFFICIENCY
- 13.2 ASIA PACIFIC TO BE FASTEST-GROWING MARKET DURING FORECAST PERIOD
- 13.3 RISING DEMAND FOR ADVANCED TURNING MACHINES TO DRIVE MARKET
- 13.4 CONCLUSION
- 14.1 KEY INSIGHTS FROM INDUSTRY EXPERTS
- 14.2 DISCUSSION GUIDE
- 14.3 KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL
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14.4 CUSTOMIZATION OPTIONSADDITIONAL COMPANY PROFILES (UP TO 5)MACHINE TOOLS MARKET, BY END USER INDUSTRY, AT COUNTRY LEVELMARKET, BY AUTOMATION, AT COUNTRY LEVEL
- 14.5 RELATED REPORTS
- 14.6 AUTHOR DETAILS
- TABLE 1 MACHINE TOOLS MARKET DEFINITION, BY PRODUCT TYPE
- TABLE 2 MARKET DEFINITION, BY AUTOMATION
- TABLE 3 MARKET DEFINITION, BY SALES CHANNEL
- TABLE 4 MARKET DEFINITION, BY END USER INDUSTRY
- TABLE 5 INCLUSIONS AND EXCLUSIONS FOR MARKET
- TABLE 6 CURRENCY EXCHANGE RATES (PER USD)
- TABLE 7 LIST OF PARTICIPATING COMPANIES FOR PRIMARY RESEARCH
- TABLE 8 IMPACT OF MARKET DYNAMICS
- TABLE 9 AVERAGE SELLING PRICE TRENDS OF KEY PLAYERS, BY PRODUCT TYPE, 2023
- TABLE 10 AVERAGE SELLING PRICE TRENDS, BY REGION, 2023
- TABLE 11 ROLE OF COMPANIES IN ECOSYSTEM
- TABLE 12 LIST OF FUNDING, 2021–2023
- TABLE 13 PATENT ANALYSIS (ACTIVE PATENTS), 2022–2023
- TABLE 14 NORTH AMERICA: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
- TABLE 15 EUROPE: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
- TABLE 16 ASIA PACIFIC: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
- TABLE 17 REST OF THE WORLD: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
- TABLE 18 IMPORT AND EXPORT DATA FOR PRODUCTS UNDER HS CODE 8459, BY KEY COUNTRY, 2022
- TABLE 19 LIST OF KEY CONFERENCES AND EVENTS, 2024–2025
- TABLE 20 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR MACHINE TOOLS, BY PRODUCT TYPE
- TABLE 21 KEY BUYING CRITERIA FOR MACHINE TOOLS, BY PRODUCT TYPE
- TABLE 22 MACHINE TOOLS MARKET, BY PRODUCT TYPE, 2019–2022 (USD BILLION)
- TABLE 23 MARKET, BY PRODUCT TYPE, 2023–2030 (USD BILLION)
- TABLE 24 MILLING MARKET, BY REGION, 2019–2022 (USD BILLION)
- TABLE 25 MILLING MARKET, BY REGION, 2023–2030 (USD BILLION)
- TABLE 26 LIST OF 4 AND 5-AXIS MILLING MACHINES
- TABLE 27 MILLING MARKET, BY AXIS TYPE, 2019–2022 (USD BILLION)
- TABLE 28 MILLING MARKET, BY AXIS TYPE, 2023–2030 (USD BILLION)
- TABLE 29 DRILLING MARKET, BY REGION, 2019–2022 (USD BILLION)
- TABLE 30 DRILLING MARKET, BY REGION, 2023–2030 (USD BILLION)
- TABLE 31 TURNING MARKET, BY REGION, 2019–2022 (USD BILLION)
- TABLE 32 TURNING MARKET, BY REGION, 2023–2030 (USD BILLION)
- TABLE 33 TURNING MARKET, BY TYPE, 2019–2022 (USD BILLION)
- TABLE 34 TURNING MARKET, BY TYPE, 2023–2030 (USD BILLION)
- TABLE 35 GRINDING MARKET, BY REGION, 2019–2022 (USD BILLION)
- TABLE 36 GRINDING MARKET, BY REGION, 2023–2030 (USD BILLION)
- TABLE 37 ELECTRICAL DISCHARGE MARKET, BY REGION, 2019–2022 (USD BILLION)
- TABLE 38 ELECTRICAL DISCHARGE MARKET, BY REGION, 2023–2030 (USD BILLION)
- TABLE 39 MARKET, BY AUTOMATION, 2019–2022 (USD BILLION)
- TABLE 40 GLOBAL MARKET, BY AUTOMATION, 2023–2030 (USD BILLION)
- TABLE 41 CNC MARKET, BY REGION, 2019–2022 (USD BILLION)
- TABLE 42 CNC MARKET, BY REGION, 2023–2030 (USD BILLION)
- TABLE 43 CONVENTIONAL MARKET, BY REGION, 2019–2022 (USD BILLION)
- TABLE 44 CONVENTIONAL MARKET, BY REGION, 2023–2030 (USD BILLION)
- TABLE 45 MARKET, BY SALES CHANNEL, 2019–2022 (USD BILLION)
- TABLE 46 MARKET, BY SALES CHANNEL, 2023–2030 (USD BILLION)
- TABLE 47 DIRECT SALES: MARKET, BY REGION, 2019–2022 (USD BILLION)
- TABLE 48 DIRECT SALES: MARKET, BY REGION, 2023–2030 (USD BILLION)
- TABLE 49 EVENTS AND EXHIBITIONS: MARKET, BY REGION, 2019–2022 (USD BILLION)
- TABLE 50 EVENTS AND EXHIBITIONS: MARKET, BY REGION, 2023–2030 (USD BILLION)
- TABLE 51 DEALERS AND DISTRIBUTORS: MARKET, BY REGION, 2019–2022 (USD BILLION)
- TABLE 52 DEALERS AND DISTRIBUTORS: MARKET, BY REGION, 2023–2030 (USD BILLION)
- TABLE 53 MARKET, BY END USER INDUSTRY, 2019–2022 (USD BILLION)
- TABLE 54 MARKET, BY END USER INDUSTRY, 2023–2030 (USD BILLION)
- TABLE 55 AEROSPACE: MARKET, BY REGION, 2019–2022 (USD BILLION)
- TABLE 56 AEROSPACE: MARKET, BY REGION, 2023–2030 (USD BILLION)
- TABLE 57 MEDICAL: MARKET, BY REGION, 2019–2022 (USD BILLION)
- TABLE 58 MEDICAL: MARKET, BY REGION, 2023–2030 (USD BILLION)
- TABLE 59 SEMICONDUCTOR: MARKET, BY REGION, 2019–2022 (USD BILLION)
- TABLE 60 SEMICONDUCTOR: MARKET, BY REGION, 2023–2030 (USD BILLION)
- TABLE 61 AUTOMOTIVE AND TRANSPORTATION: MARKET, BY REGION, 2019–2022 (USD BILLION)
- TABLE 62 AUTOMOTIVE AND TRANSPORTATION: MARKET, BY REGION, 2023–2030 (USD BILLION)
- TABLE 63 CAPITAL GOODS: MARKET, BY REGION, 2019–2022 (USD BILLION)
- TABLE 64 CAPITAL GOODS: MARKET, BY REGION, 2023–2030 (USD BILLION)
- TABLE 65 ENERGY AND POWER: MARKET, BY REGION, 2019–2022 (USD BILLION)
- TABLE 66 ENERGY AND POWER: MARKET, BY REGION, 2023–2030 (USD BILLION)
- TABLE 67 SHEET METAL: MARKET, BY REGION, 2019–2022 (USD BILLION)
- TABLE 68 SHEET METAL: MARKET, BY REGION, 2023–2030 (USD BILLION)
- TABLE 69 OTHERS: MARKET, BY REGION, 2019–2022 (USD BILLION)
- TABLE 70 OTHERS: MARKET, BY REGION, 2023–2030 (USD BILLION)
- TABLE 71 MARKET, BY REGION, 2019–2022 (USD BILLION)
- TABLE 72 MARKET, BY REGION, 2023–2030 (USD BILLION)
- TABLE 73 ASIA PACIFIC: MARKET, BY COUNTRY, 2019–2022 (USD BILLION)
- TABLE 74 ASIA PACIFIC: MARKET, BY COUNTRY, 2023–2030 (USD BILLION)
- TABLE 75 CHINA: MARKET, BY AUTOMATION, 2019–2022 (USD BILLION)
- TABLE 76 CHINA: MARKET, BY AUTOMATION, 2023–2030 (USD BILLION)
- TABLE 77 JAPAN: MARKET, BY AUTOMATION, 2019–2022 (USD BILLION)
- TABLE 78 JAPAN: MARKET, BY AUTOMATION, 2023–2030 (USD BILLION)
- TABLE 79 SOUTH KOREA: MARKET, BY AUTOMATION, 2019–2022 (USD BILLION)
- TABLE 80 SOUTH KOREA: MARKET, BY AUTOMATION, 2023–2030 (USD BILLION)
- TABLE 81 INDIA: MARKET, BY AUTOMATION, 2019–2022 (USD BILLION)
- TABLE 82 INDIA: MARKET, BY AUTOMATION, 2023–2030 (USD BILLION)
- TABLE 83 THAILAND: MARKET, BY AUTOMATION, 2019–2022 (USD BILLION)
- TABLE 84 THAILAND: MARKET, BY AUTOMATION, 2023–2030 (USD BILLION)
- TABLE 85 TAIWAN: MARKET, BY AUTOMATION, 2019–2022 (USD BILLION)
- TABLE 86 TAIWAN: MARKET, BY AUTOMATION, 2023–2030 (USD BILLION)
- TABLE 87 VIETNAM: MARKET, BY AUTOMATION, 2019–2022 (USD BILLION)
- TABLE 88 VIETNAM: MARKET, BY AUTOMATION, 2023–2030 (USD BILLION)
- TABLE 89 MALAYSIA: MARKET, BY AUTOMATION, 2019–2022 (USD BILLION)
- TABLE 90 MALAYSIA: MARKET, BY AUTOMATION, 2023–2030 (USD BILLION)
- TABLE 91 REST OF ASIA PACIFIC: MARKET, BY AUTOMATION, 2019–2022 (USD BILLION)
- TABLE 92 REST OF ASIA PACIFIC: MARKET, BY AUTOMATION, 2023–2030 (USD BILLION)
- TABLE 93 EUROPE: MARKET, BY COUNTRY, 2019–2022 (USD BILLION)
- TABLE 94 EUROPE: MARKET, BY COUNTRY, 2023–2030 (USD BILLION)
- TABLE 95 UK: MARKET, BY AUTOMATION, 2019–2022 (USD BILLION)
- TABLE 96 UK: MARKET, BY AUTOMATION, 2023–2030 (USD BILLION)
- TABLE 97 GERMANY: MARKET, BY AUTOMATION, 2019–2022 (USD BILLION)
- TABLE 98 GERMANY: MARKET, BY AUTOMATION, 2023–2030 (USD BILLION)
- TABLE 99 FRANCE: MARKET, BY AUTOMATION, 2019–2022 (USD BILLION)
- TABLE 100 FRANCE: MARKET, BY AUTOMATION, 2023–2030 (USD BILLION)
- TABLE 101 ITALY: MARKET, BY AUTOMATION, 2019–2022 (USD BILLION)
- TABLE 102 ITALY: MARKET, BY AUTOMATION, 2023–2030 (USD BILLION)
- TABLE 103 SPAIN: MARKET, BY AUTOMATION, 2019–2022 (USD BILLION)
- TABLE 104 SPAIN: MARKET, BY AUTOMATION, 2023–2030 (USD BILLION)
- TABLE 105 SWITZERLAND: MARKET, BY AUTOMATION, 2019–2022 (USD BILLION)
- TABLE 106 SWITZERLAND: MARKET, BY AUTOMATION, 2023–2030 (USD BILLION)
- TABLE 107 TURKEY: MARKET, BY AUTOMATION, 2019–2022 (USD BILLION)
- TABLE 108 TURKEY: MARKET, BY AUTOMATION, 2023–2030 (USD BILLION)
- TABLE 109 NORTH AMERICA: MARKET, BY COUNTRY, 2019–2022 (USD BILLION)
- TABLE 110 NORTH AMERICA: MARKET, BY COUNTRY, 2023–2030 (USD BILLION)
- TABLE 111 US: MARKET, BY AUTOMATION, 2019–2022 (USD BILLION)
- TABLE 112 US: MARKET, BY AUTOMATION, 2023–2030 (USD BILLION)
- TABLE 113 CANADA: MARKET, BY AUTOMATION, 2019–2022 (USD BILLION)
- TABLE 114 CANADA: MARKET, BY AUTOMATION, 2023–2030 (USD BILLION)
- TABLE 115 MEXICO: MARKET, BY AUTOMATION, 2019–2022 (USD BILLION)
- TABLE 116 MEXICO: MARKET, BY AUTOMATION, 2023–2030 (USD BILLION)
- TABLE 117 REST OF THE WORLD: MARKET, BY COUNTRY, 2019–2022 (USD BILLION)
- TABLE 118 REST OF THE WORLD: MARKET, BY COUNTRY, 2023–2030 (USD BILLION)
- TABLE 119 RUSSIA: MARKET, BY AUTOMATION, 2019–2022 (USD BILLION)
- TABLE 120 RUSSIA: MARKET, BY AUTOMATION, 2023–2030 (USD BILLION)
- TABLE 121 BRAZIL: MARKET, BY AUTOMATION, 2019–2022 (USD BILLION)
- TABLE 122 BRAZIL: MARKET, BY AUTOMATION, 2023–2030 (USD BILLION)
- TABLE 123 OVERVIEW OF STRATEGIES ADOPTED BY PLAYERS IN MARKET
- TABLE 124 MARKET RANKING ANALYSIS, 2023
- TABLE 125 MARKET: PRODUCT LAUNCHES/DEVELOPMENTS, MARCH 2021–OCTOBER 2023
- TABLE 126 MARKET: DEALS, APRIL 2021–SEPTEMBER 2023
- TABLE 127 MARKET: EXPANSIONS, JUNE 2021–NOVEMBER 2023
- TABLE 128 MARKET: PRODUCT COMPARISON
- TABLE 129 MARKET: COMPANY FOOTPRINT, 2023
- TABLE 130 MARKET: PRODUCT FOOTPRINT, 2023
- TABLE 131 MARKET: REGIONAL FOOTPRINT, 2023
- TABLE 132 MARKET: KEY START-UPS/SMES
- TABLE 133 MARKET: COMPETITIVE BENCHMARKING OF KEY START-UPS/SMES
- TABLE 134 MAKINO INC.: COMPANY OVERVIEW
- TABLE 135 MAKINO INC.: PRODUCTS OFFERED
- TABLE 136 MAKINO INC.: PRODUCT LAUNCHES/DEVELOPMENTS
- TABLE 137 MAKINO INC.: DEALS
- TABLE 138 JTEKT CORPORATION: COMPANY OVERVIEW
- TABLE 139 JTEKT CORPORATION: PRODUCTS OFFERED
- TABLE 140 JTEKT CORPORATION: PRODUCT LAUNCHES/DEVELOPMENTS
- TABLE 141 JTEKT CORPORATION: DEALS
- TABLE 142 JTEKT CORPORATION: EXPANSIONS
- TABLE 143 OKUMA CORPORATION: COMPANY OVERVIEW
- TABLE 144 OKUMA CORPORATION: PRODUCTS OFFERED
- TABLE 145 OKUMA CORPORATION: PRODUCT LAUNCHES/DEVELOPMENTS
- TABLE 146 OKUMA CORPORATION: DEALS
- TABLE 147 DMG MORI: COMPANY OVERVIEW
- TABLE 148 DMG MORI: PRODUCTS OFFERED
- TABLE 149 DMG MORI: PRODUCT LAUNCHES/DEVELOPMENTS
- TABLE 150 DMG MORI: DEALS
- TABLE 151 DN SOLUTIONS: COMPANY OVERVIEW
- TABLE 152 DN SOLUTIONS: PRODUCTS OFFERED
- TABLE 153 DN SOLUTIONS: PRODUCT LAUNCHES/DEVELOPMENTS
- TABLE 154 DN SOLUTIONS: DEALS
- TABLE 155 DN SOLUTIONS: EXPANSIONS
- TABLE 156 GEORG FISCHER LTD.: COMPANY OVERVIEW
- TABLE 157 GEORG FISCHER LTD.: PRODUCTS OFFERED
- TABLE 158 GEORG FISCHER LTD.: DEALS
- TABLE 159 GEORG FISCHER LTD.: EXPANSIONS
- TABLE 160 AMADA CO., LTD.: COMPANY OVERVIEW
- TABLE 161 AMADA CO., LTD.: PRODUCTS OFFERED
- TABLE 162 AMADA CO., LTD.: PRODUCT LAUNCHES/DEVELOPMENTS
- TABLE 163 AMADA CO., LTD.: DEALS
- TABLE 164 HYUNDAI WIA CORP.: COMPANY OVERVIEW
- TABLE 165 HYUNDAI WIA CORP.: PRODUCTS OFFERED
- TABLE 166 HYUNDAI WIA CORP.: PRODUCT LAUNCHES/DEVELOPMENTS
- TABLE 167 HYUNDAI WIA CORP.: DEALS
- TABLE 168 YAMAZAKI MAZAK CORPORATION: COMPANY OVERVIEW
- TABLE 169 YAMAZAKI MAZAK CORPORATION: PRODUCTS OFFERED
- TABLE 170 YAMAZAKI MAZAK CORPORATION: EXPANSIONS
- TABLE 171 CHIRON GROUP SE: COMPANY OVERVIEW
- TABLE 172 CHIRON GROUP SE: PRODUCTS OFFERED
- TABLE 173 CHIRON GROUP SE: PRODUCT LAUNCHES/DEVELOPMENTS
- TABLE 174 CHIRON GROUP SE: DEALS
- TABLE 175 KOMATSU NTC: COMPANY OVERVIEW
- TABLE 176 KOMATSU NTC: PRODUCTS OFFERED
- TABLE 177 KOMATSU NTC: PRODUCT LAUNCHES/DEVELOPMENTS
- TABLE 178 HAAS AUTOMATION, INC.: COMPANY OVERVIEW
- TABLE 179 HAAS AUTOMATION, INC.: PRODUCTS OFFERED
- TABLE 180 GENERAL TECHNOLOGY DALIAN MACHINE TOOL CO., LTD.: COMPANY OVERVIEW
- TABLE 181 GENERAL TECHNOLOGY DALIAN MACHINE TOOL CO., LTD.: PRODUCTS OFFERED
- TABLE 182 GENERAL TECHNOLOGY DALIAN MACHINE TOOL CO., LTD.: PRODUCT LAUNCHES/DEVELOPMENTS
- TABLE 183 GENERAL TECHNOLOGY DALIAN MACHINE TOOL CO., LTD.: EXPANSIONS
- TABLE 184 UNITED GRINDING GROUP: COMPANY OVERVIEW
- TABLE 185 UNITED GRINDING GROUP: PRODUCTS OFFERED
- TABLE 186 UNITED GRINDING GROUP: EXPANSIONS
- TABLE 187 INDEX-WERKE GMBH & CO. KG HAHN & TESSKY: COMPANY OVERVIEW
- TABLE 188 INDEX-WERKE GMBH & CO. KG HAHN & TESSKY: PRODUCTS OFFERED
- TABLE 189 CITIZEN MACHINERY CO., LTD.: COMPANY OVERVIEW
- TABLE 190 CITIZEN MACHINERY CO., LTD.: PRODUCTS OFFERED
- TABLE 191 CITIZEN MACHINERY CO., LTD.: PRODUCT LAUNCHES/DEVELOPMENTS
- TABLE 192 FFG EUROPEAN & AMERICAN HOLDINGS GMBH: COMPANY OVERVIEW
- TABLE 193 HMT MACHINE TOOLS LIMITED: COMPANY OVERVIEW
- TABLE 194 SPINNER WERKZEUGMASCHINENFABRIK GMBH: COMPANY OVERVIEW
- TABLE 195 GLEASON CORPORATION: COMPANY OVERVIEW
- TABLE 196 GROB-WERKE GMBH & CO. KG: COMPANY OVERVIEW
- TABLE 197 BLASER SWISSLUBE: COMPANY OVERVIEW
- TABLE 198 CASTROL LIMITED: COMPANY OVERVIEW
- TABLE 199 QUAKER HOUGHTON: COMPANY OVERVIEW
- TABLE 200 SCHULER AG: COMPANY OVERVIEW
- TABLE 201 ELECTRONICA HI-TECH ENGINEERING PVT. LTD.: COMPANY OVERVIEW
- TABLE 202 ACEMICROMATIC GROUP: COMPANY OVERVIEW
- TABLE 203 TUNGALOY CORPORATION: COMPANY OVERVIEW
- TABLE 204 MACHINE TOOLS INDIA LIMITED: COMPANY OVERVIEW
- FIGURE 1 MARKET SEGMENTATION
- FIGURE 2 RESEARCH DESIGN
- FIGURE 3 RESEARCH DESIGN MODEL
- FIGURE 4 BREAKDOWN OF PRIMARY INTERVIEWS: BY COMPANY TYPE, DESIGNATION, AND REGION
- FIGURE 5 RESEARCH METHODOLOGY: HYPOTHESIS BUILDING
- FIGURE 6 MACHINE TOOLS MARKET: BOTTOM-UP APPROACH
- FIGURE 7 MARKET: TOP-DOWN APPROACH
- FIGURE 8 MARKET ESTIMATION NOTES
- FIGURE 9 DATA TRIANGULATION
- FIGURE 10 MARKET OVERVIEW
- FIGURE 11 CNC MACHINE TOOLS SEGMENT TO HOLD LARGER MARKET SHARE THAN CONVENTIONAL MACHINE TOOLS SEGMENT FROM 2023 TO 2030
- FIGURE 12 MILLING MACHINES SEGMENT TO GROW AT HIGHEST RATE DURING FORECAST PERIOD
- FIGURE 13 AUTOMOTIVE AND TRANSPORTATION SEGMENT TO HOLD LARGEST MARKET SHARE DURING FORECAST PERIOD
- FIGURE 14 ASIA PACIFIC TO REGISTER HIGHEST CAGR DURING FORECAST PERIOD
- FIGURE 15 RISING DEMAND FOR MACHINE TOOLS IN ASIA PACIFIC TO DRIVE MARKET
- FIGURE 16 MILLING MACHINES SEGMENT TO LEAD MARKET DURING FORECAST PERIOD
- FIGURE 17 CNC MACHINE TOOLS SEGMENT TO HOLD LARGER MARKET SHARE THAN CONVENTIONAL MACHINE TOOLS SEGMENT DURING FORECAST PERIOD
- FIGURE 18 DEALERS AND DISTRIBUTORS SEGMENT TO LEAD MARKET DURING FORECAST PERIOD
- FIGURE 19 AUTOMOTIVE AND TRANSPORTATION SEGMENT TO REGISTER HIGHEST CAGR DURING FORECAST PERIOD
- FIGURE 20 ASIA PACIFIC TO REGISTER HIGHEST CAGR DURING FORECAST PERIOD
- FIGURE 21 MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES
- FIGURE 22 MANUFACTURING INDUSTRY VALUE ADDED GROWTH, 2019–2023
- FIGURE 23 APPROACHES FOR INCREASING ENERGY EFFICIENCY OF MACHINE TOOLS
- FIGURE 24 VEHICLE PRODUCTION, 2020–2022
- FIGURE 25 EVOLUTIONARY HISTORY OF INDUSTRIALIZATION AND MACHINE TOOLS
- FIGURE 26 ADAPTIVE CONTROL SYSTEMS FOR MACHINE TOOLS
- FIGURE 27 WORKFORCE SKILL GAP BETWEEN 2018 AND 2028
- FIGURE 28 ECOSYSTEM ANALYSIS
- FIGURE 29 MARKET: VALU CHAIN ANALYSIS
- FIGURE 30 DEALS OF KEY PLAYERS, 2020–2023
- FIGURE 31 SYSTEM ARCHITECTURE OF INTELLIGENT NUMERICAL CONTROLLER (INC)
- FIGURE 32 IOT FOR MACHINE TOOL MONITORING SOLUTIONS
- FIGURE 33 REVENUE SHIFT AND NEW REVENUE POCKETS FOR PLAYERS IN MARKET
- FIGURE 34 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR MACHINE TOOLS, BY PRODUCT TYPE
- FIGURE 35 KEY BUYING CRITERIA FOR MACHINE TOOLS, BY PRODUCT TYPE
- FIGURE 36 MILLING MACHINES SEGMENT TO LEAD MARKET DURING FORECAST PERIOD
- FIGURE 37 CNC MACHINE TOOLS SEGMENT TO DOMINATE MARKET DURING FORECAST PERIOD
- FIGURE 38 DEALERS AND DISTRIBUTORS SEGMENT TO HOLD LARGEST MARKET SHARE DURING FORECAST PERIOD
- FIGURE 39 AUTOMOTIVE AND TRANSPORTATION SEGMENT TO LEAD MARKET FROM 2023 TO 2030
- FIGURE 40 ASIA PACIFIC TO BE FASTEST-GROWING MARKET DURING FORECAST PERIOD
- FIGURE 41 ASIA PACIFIC: MARKET SNAPSHOT
- FIGURE 42 MARKET SHARE OF LEADING MACHINE TOOL COMPANIES IN SOUTH KOREA, 2022
- FIGURE 43 EUROPE: MARKET SNAPSHOT
- FIGURE 44 NORTH AMERICA: MARKET SNAPSHOT
- FIGURE 45 RUSSIA TO ACCOUNT FOR LARGEST MARKET SHARE DURING FORECAST PERIOD
- FIGURE 46 COMPANY VALUATION, 2023
- FIGURE 47 COMPANY FINANCIAL METRICS, 2023
- FIGURE 48 TOP PUBLIC/LISTED PLAYERS DOMINATING MARKET, 2018–2022
- FIGURE 49 MARKET: COMPANY EVALUATION MATRIX, 2023
- FIGURE 50 MARKET: START-UP/SME EVALUATION MATRIX, 2023
- FIGURE 51 MAKINO INC.: COMPANY SNAPSHOT
- FIGURE 52 JTEKT CORPORATION: COMPANY SNAPSHOT
- FIGURE 53 OKUMA CORPORATION: COMPANY SNAPSHOT
- FIGURE 54 DMG MORI: COMPANY SNAPSHOT
- FIGURE 55 FINANCIAL PERFORMANCE TARGET FOR 2025 (USD BILLION)
- FIGURE 56 DN SOLUTIONS: COMPANY SNAPSHOT
- FIGURE 57 GEORG FISCHER LTD.: COMPANY SNAPSHOT
- FIGURE 58 AMADA CO., LTD.: COMPANY SNAPSHOT
- FIGURE 59 AMADA CO., LTD.: COMPANY FOOTPRINT
- FIGURE 60 HYUNDAI WIA CORP.: COMPANY SNAPSHOT
- FIGURE 61 HYUNDAI WIA CORP.: SHARE IN SOUTH KOREAN MARKET
- FIGURE 62 CHIRON GROUP SE: INCOMING ORDERS
- FIGURE 63 KOMATSU NTC: COMPANY GEOGRAPHIC PRESENCE
This research study involved the use of extensive secondary sources, directories, and databases, which were used to classify and gather the facts and figures useful for the technical, market-oriented, and commercial study of the global machine tools market. Primary interviews were conducted to obtain and verify critical inputs on qualitative and quantitative information and to assess the prospects of the machine tools industry. Primary sources mainly included experts from the core and related industries, suppliers, manufacturers, distributors, technology developers, and organizations related to various segments of this industry’s value chain. Detailed interviews were conducted with various primary respondents that included key industry participants, subject matter experts, C-level executives of key market players, and industry consultants.
Secondary Research
In the secondary research process, various secondary sources were used to identify and collect information for this study. The secondary sources include annual reports, press releases, and investor presentations of companies; whitepapers, certified publications; articles from recognized authors, directories, and databases; and articles from recognized associations and government publishing sources. Secondary research has been used to obtain key information about the industry’s value chain, the overall pool of key players, market classification and segmentation according to industry trends to the bottom-most level, regional markets, and key developments from the market- and technology-oriented perspectives.
Primary Research
Extensive primary research was conducted after acquiring an understanding of the global machine tools market scenarios through secondary research. Several primary interviews were conducted with market experts from both the demand (country-level government associations, trade associations, institutes, R&D centers, and machine tools manufacturers) and supply (machine tools manufacturers, machine tools component manufacturers, and raw material suppliers) sides across four major regions, namely, North America, Europe, Asia Pacific, and the Rest of the World. The experts involved in primary interviews are 24% from the demand side, and 76% from the supply side of the industry. Primary data was collected through questionnaires, emails, and telephonic interviews. Several primary interviews were conducted from various departments within organizations, such as sales, operations, and administration, to provide a holistic viewpoint in the report.
After interacting with industry participants, some brief sessions were conducted with experienced independent consultants to reinforce the findings from the primary interviews. This, along with the in-house subject matter experts’ opinions, led to the findings delineated in the rest of this report.
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Market Size Estimation
The bottom-up approach was used to estimate and validate the size of the global machine tools market. In this approach, the machine tools sales statistics were considered at the country level.
- In terms of value, consumption data of machine tools at the country level was derived to determine the market size. The number of machine tools varied from country to country. The country-level data was summed up to arrive at the region-level data in terms of value. The summation of the country-level market size gave the regional market size, and further summation of the regional market size provided the global machine tools market size.
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The top-down approach was used to estimate and validate the size of the global machine tools market by automation, product type, sales channel, and end user industry. To derive the market size by product type, the global market size in terms of value was divided into milling machines, drilling machines, turning machines, grinding machines, and electrical discharge machines using the penetration and percentage split, respectively. The global market was further segmented at the regional level. A similar approach was used to derive the market size of automation, sales channel, and end user industry segments in terms of value.
Data Triangulation
After arriving at the overall market size—using the market size estimation processes as explained above—the market was split into several segments and subsegments. To complete the overall market engineering process and arrive at the exact statistics of each market segment and subsegment, data triangulation and market breakdown procedures were employed, wherever applicable. The data was triangulated by studying various factors and trends from both the demand and supply sides.
Market Definition
Machine tools are stationary, power-driven equipment used to shape or form parts made of metals, alloys, and composites by cutting, grinding, boring, shearing, etc. These machine tools include milling, drilling, turning, grinding, and electrical discharge machines. CNC machine tools are computer-controlled machines, which provide better precision and control than conventional machine tools.
List of Key Stakeholders
- Automation consultants
- Companies developing and integrating industrial software
- Dealers and distributors of machine tools
- Government regulatory bodies, industry associations, and experts
- Integrators of automation systems
- Manufacturers of machine tools
- Manufacturers of machine tool components
- Research organizations and consulting companies
- Technology investors
- Technology standards organization, forums, alliances, and associations
- Vendors of CNC machining software
Report Objectives
- To analyze and forecast the global machine tools market size, in terms of value (USD billion)
- To define, describe, and project the market based on product type, automation, end user industry, sales channel, and region
- To analyze and forecast the market, in terms of value, based on product type [milling machines (4-axis, 5-axis, others, universal machines, machining centers), drilling machines, turning machines (Swiss-type, multi-spindle, others, universal machines), grinding machines, and electrical discharge machines]
- To analyze and forecast the market in terms of value, based on sales channels (events and exhibitions, dealers and distributors, and direct sales)
- To analyze and forecast the market, in terms of value, based on automation (CNC machine tools and conventional machine tools)
- To analyze and forecast the market, in terms of value, based on end user industry (automotive and transportation, aerospace, medical, semiconductor, sheet metals, energy and power, capital goods, and others).
- To analyze and forecast the market across four key regions, namely, North America, Europe, Asia Pacific, and the Rest of the World (RoW), along with major countries in each region.
- To provide detailed information regarding major factors, such as drivers, restraints, opportunities, and challenges, influencing the growth of the market
Available Customizations
With the given market data, MarketsandMarkets offers customizations in accordance with company-specific needs.
- Additional company profile (Up to 5)
- Machine tools market, by end user industry, at the country level
- Machine tools market, by automation, at the country level
Growth opportunities and latent adjacency in Global Machine Tools Market