The study involved four major activities in estimating the current size of the machine tools market. Exhaustive secondary research was done to collect information on the market, peer, and child markets. The next step was to validate these findings and assumptions and size them with industry experts across value chains through primary research. The top-down and bottom-up approaches were employed to estimate the complete market size. Thereafter, market breakdown and data triangulation processes were used to estimate the market size of segments and subsegments.
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 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.
Note 1: Others include sales managers, marketing managers, and product managers.
Note 2: Tier 1 companies’ revenues are more than USD 10 billion; tier 2 companies’ revenues range between USD 1 and 10 billion; and tier 3 companies’ revenues range between USD 500 million and USD 1 billion.
Source: Industry Experts
To know about the assumptions considered for the study, download the pdf brochure
Market Size Estimation
Both top-down and bottom-up approaches were used to estimate and validate the total size of the machine tools market. These methods were also used extensively to estimate the size of various subsegments in the market. The research methodology used to estimate the market size includes the following:
Global Machine Tools Market : Top-Down and Bottom-Up Approach
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.
Stakeholders
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Automation consultants
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Companies developing and integrating industrial software
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Dealers and distributors of machine tools
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Government regulatory bodies, industry associations, and experts
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Integrators of automation systems
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Manufacturers of machine tools
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Manufacturers of machine tool components
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Research organizations and consulting companies
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Technology investors
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Technology standards organization, forums, alliances, and associations
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Vendors of CNC machining software
Report Objectives
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To analyze and forecast the machine tools market size in terms of value (USD billion) & volume (Units).
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To define, describe, and project the market based on product type, automation, end user industry, sales channel, and region.
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To analyze and forecast the market, in terms of value & volume, based on product type [milling machines (4-axis, 5-axis, others and universal milling machines), drilling machines, turning machines (Swiss-type, multi-spindle, others, and universal milling machines), grinding machines, and electrical discharge machines, machining centers, and others].
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To analyze and forecast the market in terms of value based on sales channel (events and exhibitions, dealers and distributors, and direct sales).
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To analyze and forecast the market, in terms of value, based on automation (CNC machine tools and conventional machine tools).
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To analyze and forecast the market, in terms of value value & volume, based on end user industry (automotive and transportation, aerospace, medical, semiconductor, sheet metal, energy and power, capital goods, and others).
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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.
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To provide detailed information regarding major factors, such as drivers, restraints, opportunities, and challenges, influencing the growth of the market.
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To study the following with respect to the market:
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Value Chain Analysis
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Ecosystem Analysis
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Technology Analysis
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Trade Analysis
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Case Study Analysis
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Investment and Funding Scenario
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Company Valuation and Financial Metrics
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Brand/Product Comparison
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Patent Analysis
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Regulatory Landscape
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Conferences and Events
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Average Selling Price Analysis
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Buying Criteria
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To strategically analyze segments with respect to individual growth trends, prospects, and contributions to the total market
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To strategically profile key players and comprehensively analyze their market rank and core competencies.
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To track and analyze competitive developments, such as product launches/developments, deals, and others in the market.
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To analyze the opportunities offered by various segments of the market to its stakeholders.
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To analyze and forecast trends and orientation for the market in the global industry.
Available Customizations
With the given market data, MarketsandMarkets offers customizations in accordance with the company’s specific needs.
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Additional Company Profiles (up to 5 companies)
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Detailed analysis of Machine tools market, by end user industry, at the country level
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Detailed analysis of Machine tools market, by automation, at the country level
CNC MACHINE TOOLS: HIGHEST CAGR MARKET BY 2030
CNC MACHINE TOOLS : LARGEST MARKET IN THE REGION
Growth opportunities and latent adjacency in Global Machine Tools Market