Global Machine Tools Market

The global machine tools market is projected to grow from USD 78.6 billion in 2023 to USD 104.7 billion by 2030, registering a CAGR of 4.2%. The increasing demand for machine tools is driven by various factors such as CNC (Computer Numerical Control), Industry 4.0, additive manufacturing, advanced materials, increased demand for customization. Rapid industrialization in emerging economies, particularly in Asia-Pacific regions like China and India, creates significant opportunities for the machine tools market due to increased investment in manufacturing.

The companies currently in operation are concentrating on implementing the newest technology into practice to introduce features like software enabling remote machine monitoring via PCs and computer connectivity to CNC machines. Businesses in the industry are looking for collaboration methods to improve their product offerings and incorporate cutting-edge technologies like IoT and artificial intelligence.

Major Global Machine Tools Market Companies include

• Makino Inc. (Japan),
• JTEKT Corporation (Japan),
• Okuma Corporation (Japan),
• DMG MORI Co., Ltd. (Japan),
• DN Solutions (South Korea).

These companies adopted new product launches, deals, and other strategies to gain traction in the machine tools market.

To know about the assumptions considered for the study download the pdf brochure

Makino Inc. (Japan):

Makino Inc. is a renowned Japanese manufacturer of high-precision CNC milling machines and machining centers. It offers diverse machines, from vertical and horizontal machining centers to wire and RAM EDMs. It is known for its high-quality machine tools and commitment to innovation. The company invests heavily in research and development to create new and improved products that meet the needs of its customers. The company also invests in partnerships with local companies to help it better serve its customers. Makino is focused on expanding its global sales and service operations to reach new customers and markets.

JTEKT Corporation (Japan):

JTEKT Corporation is one of the leading manufacturers of steering systems, driveline components, bearings, machine tools, electronic control devices, and home accessory equipment. It offers a variety of machine tools, including grinders, machining centers, gear-cutting machines, and jig borers. The company is continuously expanding its portfolio to cater to diverse customer needs. It goes beyond machines, providing integrated solutions combining machine tools, peripherals, and services to optimize customer production processes. JTEKT also invests in research and development to integrate innovative technologies like Industry 4.0 solutions and automation into its machines.

Okuma Corporation (Japan):

Okuma Corporation is a Japanese multinational manufacturer of CNC machine tools, including lathes, machining centers, and grinders. The company emphasizes its "MASTERS of Multitasking" concept, focusing on machines that combine multiple machining processes in one unit. This reduces setup times and boosts efficiency. The company also invests heavily in 5-axis machining centers for complex parts. The company embraces digitalization with its OSP control systems and integration with Industry 4.0 solutions. This allows for better data analysis, remote monitoring, and automation. In 2023, Okuma introduced the new Multus U5000, a multitasking machine tool that combines the capabilities of a lathe and a machining center. The Multus U5000 is designed for high-precision machining of complex parts. The company constantly innovates and develops new technologies to help businesses improve their productivity and efficiency.

DMG MORI Co., Ltd. (Japan):

DMG MORI is one of the leading manufacturers of machine tools, including cutting-edge 5-axis control machines, multi-axis machines, turning centers, and machining centers. The company heavily invested in developing AI-powered machine tools and automation solutions to increase efficiency and reduce labor costs. Its Mid-term Business Plan 2025 emphasizes DX initiatives, including cloud-based platforms for data analysis and remote machine monitoring. The company also invests heavily in research and development to stay ahead of technology advancements.

DN Solutions (South Korea):

DN Solutions is focused on forming strategic partnerships to build a sustainable corporate ecosystem and supply chain, working together with partners to achieve common goals and visions. The company supports suppliers to enhance competitiveness and foster growth within a healthy business environment. It also provides overall systems engineering solutions, such as peripheral machine configuration for high-productivity machine tools, process design, and software to optimize performance. DN Solutions promises to provide an optimized solution that exceeds the intrinsic function of the machine using customer-tailored solutions.

Related Reports:

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

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