Machine Tools Market: Global Industry Analysis and Forecast (2024-2030) Trends, Statistics, Dynamics, Segmentation by Product Type, Automation Type and Region

Machine Tools Market Overview:

The industrial industry's strong emphasis on increasing productivity & decreasing downtime is expected to drive growth. The growing market for mass production in industries like aerospace and defence, as well as other industries & market segments, is likely to increase machine tool usage. Metal cutting tool demand is increasing in tandem with the increased use of metals in numerous industries, which bodes well for growing market. Integration of Computer-Aided Producing (CAM) in machine tools to reduce the amount of time necessary for manufacturing work pieces & ensure trouble-free manufacturing of micro components has become a major market trend. This Machine Tools Market report comes with segment analysis and market forcast size on the basis of product type, automation type and region.

 

The goal of Industry 4.0 would be to reduce idle time & improve the usage of machine tools. Analyzing data linked to keep changing & programme stops can be particularly useful in identifying and addressing the source of idle time, resulting in more efficient machine tool utilisation. Ranging impact on learning theories manufacturers, like The Timken Company & NSK Ltd., are concentrating on the development of bearings for industrial machinery at the same time. The Timken Company, for example, launched a new range of precision cylindrical roller bearings in October 2019 that are designed to optimize efficiency and speed in high-demand applications.

 

Computer Numerical Control (CNC) systems have emerged as a result of technologies like machine learning & automation. CNC systems enable operators to send assembly code to something like a computer and conduct several operations on same machine without wasting time. Various lubricant makers, on the other hand, are partnering with machine tools market players such as DMG MORI and Komatsu, Ltd. to develop lubricants for specific devices. DMG MORI and FUCHS PETROLUB SE, for example, signed a collaboration agreement in September 2017 that entails the two firms working together to develop novel lubricant solutions and services for industrial machinery uses.

 

Machine tool manufacturers such as MC Machinery Systems, Inc. and DynaPath Systems, Inc. are attempting to improve machine tool functioning by producing machines with automatic tool changing capabilities. For example, DynaPath Systems Inc. introduced a new CNC knee mill with an automatic tool changer in January 2019. The automatic tool changer, which consists of four tools in separate tool stations positioned around the spindle, can change all of the tools in three seconds. Various countries are pursuing initiatives such as Blue Philosophy, Blue Competence, and DEMAT at the same time. These endeavours are targeted at developing lightweight machine tool architectures and are projected to play a key part in propelling the machine tools market forward.

 

Honeywell International, Inc., Robert Bosch LLC, and Siemens AG are among the businesses producing CNC technology for machine tools. For example, at the EMO 2017 trade event in Hanover, Germany in August 2017, Siemens AG unveiled the Sinumerik Edge CNC software. Optional compensations for undesirable axis-nodding movements are available inside the software. While such improvements are positive for the machine tool industry, the high expenses involved with CNC machine purchase and installation are expected to limit machine tools market growth over the projection period. Furthermore, CNC machine operators must be adequately taught before they can run the most up-to-date machine equipment. This is also developing as a potential market stumbling block.

 

Following the outbreak of the COVID-19 pandemic, which has taken a huge toll on the machine tools market, several countries, such as the U. S., the U.K, Spain, Italy, South Korea, and India, have closed their borders for imports and exports. Machine tool exports fell year over year in Q1/2020 and Q2/2020, according the Taiwan Machine Tool & Parts Association. The Singaporean government's shut downs, which lasted from April 7 to May 4, 2020, had a substantial impact on manufacturing capacity of companies in Singapore, including AMADA Co., Ltd. and Makino, among others. During the country's shutdown, most workplaces remained closed, with the exception of essential services.

 

 

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Machine Tools Market Segment Overview:

With a market share of over 25% in 2019, the lathe machines segment led the machine tools market. This can be attributed to the increasing use of lathe equipment for tasks like chamfering, filleting, twisting, & slot cutting. The use of lathe machines has increased in recent years as a result of their ability to eliminate human intervention while boosting the accuracy of machining processes. Manufacturers like Georg Fischer Ltd. and Haas Automation, Inc. are responding towards the trend by concentrating on the creation of novel lathe machines, which is helping the category grow.

 

 

Because laser technology has the ability to assure higher precision and finer cuts on the surface of work pieces, the laser machines category is expected to grow at the fastest rate in the machine tools market. Laser cutting devices are utilised in a wide range of applications where parts must be processed with more precision for improved edge quality. The laser beam doesn't really wear out throughout the machining process, which is a significant benefit of laser etching technology. Other reasons projected to boost the segment's growth include the development of innovative process lasers to optimize the manufacture of bespoke three-dimensional glass components as well as the looming move from traditional laser diodes to quantum cascade lasers.

 

With a share more than 80% in 2019, the CNC segment dominated the machine tools market in 2019. This is due to the increased requirement to cut operational costs, personnel, and faults in components created in industries including aerospace and military, as well as automotive. The increasing amount of venture capital money going to firms that build technology for CNC machines bodes well for the CNC market. Cloud NC, for example, reported in June 2018 that it had received USD 10 Mn in funding from European venture capital firm Atomico. Cloud NC was able to use the funds to accelerate the development of its software, which has the ability to automate the programming of CNC milling machines. Manufacturers are concentrating their efforts on the most recent technological advancements in the field of CNC software to improve the connectivity between machines & operators while increasing shop floor flexibility, which is emerging as another prominent trend in the industry.

 

The conventional segment is growing in the machine tools market due to increased demand for bulk manufacturing in industries such as pharmaceuticals, paper, and textiles, among others. The construction industry's increased employment of traditional systems such as drills, saws, and bores, among many others, is also propelling the segment's rise. Conventional machining is typically less expensive and is utilised for smaller-scale jobs. Nevertheless, the demand for traditional systems is being hampered by a future shortage of competent workers.

 

Machine Tools Market Regional Overview:

In 2023, APAC region dominated the machine tools market, contributing for more than 35% of total revenue. This can be attributable to efforts like "Make in India" & "Made in China 2025," which are being pursued by regional governments to stimulate indigenous manufacturing. To encourage manufacturing investment, the Indian government stated in September that manufacturing enterprises registered on or after October 1, 2019 will be capable of paying corporation tax at a rate of 15%. Furthermore, nations in the area, including such China, India, and South Korea, are among the world's largest auto component producers, and the use of machine tools in the manufacturing of automotive components has been increasing across the region.

 

Because of rising demand for industrial machinery from incumbents in the aerospace & defence, automotive, & oil and energy industries, among other industries and market segments, the North America machine tools market is expected to grow at the fastest rate over the projected period. In the region, aircraft manufacturers are aggressively engaging various market participants for machine tool procurement. In November 2018, Georg Fischer Ltd., for example, received a number of orders from several aircraft manufacturers in the North American region. The orders are worth $100 million and are expected to arrive by 2023. Market giants including Georg Fischer, Ltd. and Okuma Corporation are growing their footprint in the region at the same time. Georg Fischer Ltd., for example, opened a 67,000-square-foot facility in Ontario, Canada, in November 2019. A 4,800-square-foot exhibition centre and sales & service support workers are housed within the building.

 

The objective of the report is to present a comprehensive analysis of the Machine Tools Market to the stakeholders in the industry. The report provides trends that are most dominant in the Machine Tools Market and how these trends will influence new business investments and market development throughout the forecast period. The report also aids in the comprehension of the global market dynamics and competitive structure of the market by analyzing market leaders, market followers, and regional players.

 

The qualitative and quantitative data provided in the Machine Tools Market report is to help understand which market segments, regions are expected to grow at higher rates, factors affecting the market, and key opportunity areas, which will drive the industry and market growth through the forecast period. The report also includes the competitive landscape of key players in the industry along with their recent developments in the Machine Tools Market. The report studies factors such as company size, market share, market growth, revenue, production volume, and profits of the key players in the global market.

 

The report provides Porter's Five Force Model, which helps in designing the business strategies in the market. The report helps in identifying how many rivals are existing, who they are, and how their product quality is in the Market. The report also analyses if the Machine Tools Market is easy for a new player to gain a foothold in the market, do they enter or exit the market regularly if the market is dominated by a few players, etc.

 

The report also includes a PESTEL Analysis, which aids in the development of company strategies. Political variables help in figuring out how much a government can influence the Market. Economic variables aid in the analysis of economic performance drivers that have an impact on the Market. Understanding the impact of the surrounding environment and the influence of environmental concerns on the Machine Tools Market is aided by legal factors.

 

Machine Tools Market Scope:

 

Machine Tools Market
Market Size in 2023	USD 90.09 Bn.
Market Size in 2030	USD 118.55 Bn.
CAGR (2024-2030)	4%
Historic Data	2018-2022
Base Year	2023
Forecast Period	2024-2030
Segment Scope	By  Product Milling Machines Drilling Machines Grinding Machines Electrical Discharge Machines
	By Automation CNC Machine Tools Conventional Machine Tools
Regional Scope	North America- United States, Canada, and Mexico Europe – UK, France, Germany, Italy, Spain, Sweden, Austria, and Rest of Europe Asia Pacific – China, India, Japan, South Korea, Australia, ASEAN, Rest of APAC Middle East and Africa - South Africa, GCC, Egypt, Nigeria, Rest of the Middle East and Africa South America – Brazil, Argentina, Rest of South America

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Machine Tools Market Major Players:

• AMADA Co., Ltd.

• CHIRON Group SE
• DMG MORI
• Doosan Corporation
• Georg Fischer Ltd.
• HYUNDAI WIA CORP.
• JTEKT
• Komatsu Ltd.
• Makino
• Okuma Corporation
• TRUMPF  Group
• Shenyang Machine Tool Group
• Amada Co. Ltd
• Dalian Machine Tool Group