Global Machine Tools Market Size and Forecast (2019-2028)
Description
Executive Summary
In last five years, the global machine tools market experienced a compound annual growth rate (CAGR) of 1.78%. By 2023, its market value had crossed approximately USD 100 billion, driven by robust demand from rising manufacturing activity, which approached Euro 82 billion. This growth was significantly enhanced by strategic acquisitions from major industry players like DMG Mori, Okuma, and Mazak, reshaping the competitive landscape and spurring innovation throughout 2023 and into 2024.
Manufacturing Output and Global Growth Trends
China has maintained its position as the world's leading manufacturing hub, with output exceeding the trillion-dollar threshold in recent years. Other major contributors to global manufacturing include the United States, Japan, Germany, and India, all of which continue to demonstrate strong industrial capabilities.
As 2024 begins, global manufacturing output has shown modest growth, though regional variations are evident. China and India have experienced robust growth, fueled by expanding industrial capacity and strong domestic demand. In contrast, Japan has seen a marked decline, while Italy and France faced contractions, reflecting challenges for some developed economies.
In the European Union, the manufacturing sector has shown resilience, making significant contributions to the economy and demonstrating a notable recovery from the pandemic-induced downturn. This recovery underscores the sector’s vital role in driving economic revival and long-term growth across Europe.
Looking ahead, the machine tools market and the broader manufacturing sector are expected to continue evolving, driven by technological advancements and strategic consolidations within the industry.
Country Wise Dominance in the Asia-Pacific Machine Tool Market:
Russia’s industrial sector has become heavily reliant on China for machine tools and essential parts needed for arms manufacturing. This shift is largely due to the ongoing conflict in Ukraine, Western sanctions, and the country's challenges in implementing import substitution, which have heightened its dependence on Chinese supplies.
Mexico Metal-Mechanics Sector
Economic Contribution of Mexico's Metal-Mechanics Sector
The metal-mechanics sector plays a crucial role in Mexico's economy, contributing significantly to the country's manufacturing GDP. It has become a key supplier to various industries, positioning Mexico as the second-largest market for U.S. exports in this field. In recent years, a notable share of U.S. fabricated metal production and machinery exports has been directed to Mexico, highlighting the strong trade relationship between the two nations.
Mexico's market for fabricated metal parts is thriving, with substantial purchases making it one of the largest partners for U.S. exports in this segment. The country has built a robust supplier network of metal fabricators, ranging from large to small companies across its cities. However, only a few fabricators have attained advanced levels of sophistication or certifications like ISO, TS, or AS, which could further enhance their competitiveness.
Positioning of Major Players in Global Machine Tools Market, 2023
Makreo Research has recently published an extensive report titled “Global Machine Tools Market Size and Forecast (2019-2028) – Analysis by Metal Working Tools (Cutting & Forming), Technology (CNC & Conventional), End-User Applications, and Geography (APAC, Europe, North America).” This report offers a thorough examination of the global machine tools market, covering key regions including North America, Europe, and Asia-Pacific. It provides an in-depth review of both current and historical market performance, with a particular focus on the regulatory environments in major countries such as China, Japan, South Korea, India, Germany, France, the UK, Italy, the USA, and Canada.
The analysis highlights major players in the market, including prominent companies such as DMG Mori Seiki Co. Ltd., Mazak Corporation, Makino Milling, and Trumpf Inc, JTEKT Corporation. It features detailed profiles of these companies, including information on mergers and acquisitions, funding histories, and strategic developments.
Furthermore, the report explores global, national, and state-level regulations and their implications for the machine tools sector. It also addresses key logistical challenges, demographic trends, and other relevant factors that impact the market. This comprehensive analysis equips stakeholders and industry experts with valuable insights into the evolving dynamics of the machine tools industry, helping them navigate this critical and rapidly growing sector.
Period of Study
2019 - 2023: Past and Present Scenario
2024: Base year of study
2024 – 2028: Future Outlook
Regions and Countries Covered
Asia-Pacific (APAC): China, Japan, South Korea, India, Taiwan
Europe: Germany, France, the UK, Italy, Russia
North America: US, Canada, Mexico
Global Machine Tools Market Segmentation
By Geography
By Type
By Metal Working Machine Tools Market
By Applications
Competitive Landscape
Mergers and Acquisitions
Funding Timeline
Company Profiles
Companies Covered
DMG Mori Seiki Co. Ltd.
Okuma Corporation
Haas Automation
Yamazaki Mazak Corporation
Shenyang Machine Tool Group Corporation
Amada Co. Ltd.
FANUC Corporation and
JTEKT Corporation
Key Questions Answered
1. How has the global machine tools market historically performed across different regions, including North America, Europe and Asia-Pacific regions?
2. What are the major regulatory frameworks and legal standards governing the machine tools industry in North America, Europe and Asia-Pacific?
3. What are the primary logistical challenges and recent innovations in the global machine tools market?
4. How have the machine tools markets in key countries such as the United States, Germany, China, India, and Japan performed?
5. What are the most prevalent manufacturing applications impacting the machine tools market globally?
6 How do trends in manufacturing and industrial production impact the machine tools market in different regions?
7. What are the main factors affecting the cost structure of machine tools globally?
8. How has the COVID-19 pandemic influenced the machine tools market across various regions?
9. What are the future growth prospects and opportunities for the machine tools market in major countries across different continents?
10. What macroeconomic factors are significantly influencing the global machine tools market?
11. What key strategies are being adopted by leading machine tools companies to enhance efficiency and market position?
12. How do geopolitical and economic factors affect the machine tools market in different regions?
In last five years, the global machine tools market experienced a compound annual growth rate (CAGR) of 1.78%. By 2023, its market value had crossed approximately USD 100 billion, driven by robust demand from rising manufacturing activity, which approached Euro 82 billion. This growth was significantly enhanced by strategic acquisitions from major industry players like DMG Mori, Okuma, and Mazak, reshaping the competitive landscape and spurring innovation throughout 2023 and into 2024.
Manufacturing Output and Global Growth Trends
China has maintained its position as the world's leading manufacturing hub, with output exceeding the trillion-dollar threshold in recent years. Other major contributors to global manufacturing include the United States, Japan, Germany, and India, all of which continue to demonstrate strong industrial capabilities.
As 2024 begins, global manufacturing output has shown modest growth, though regional variations are evident. China and India have experienced robust growth, fueled by expanding industrial capacity and strong domestic demand. In contrast, Japan has seen a marked decline, while Italy and France faced contractions, reflecting challenges for some developed economies.
In the European Union, the manufacturing sector has shown resilience, making significant contributions to the economy and demonstrating a notable recovery from the pandemic-induced downturn. This recovery underscores the sector’s vital role in driving economic revival and long-term growth across Europe.
Looking ahead, the machine tools market and the broader manufacturing sector are expected to continue evolving, driven by technological advancements and strategic consolidations within the industry.
Country Wise Dominance in the Asia-Pacific Machine Tool Market:
- In the Asia-Pacific machine tool market, China stands out as a dominant force, largely due to its position as a key global supplier. The country's strong local demand and the shift of production bases from Europe to Asia, particularly to mainland China, have reinforced its leadership.
- Meanwhile, other APAC countries, including Malaysia, Singapore, Indonesia, Thailand, the Philippines, and Australia, are experiencing rapid growth in their machine tool industries, driven by industrialization and the expansion of key sectors like automotive and electronics.
Russia’s industrial sector has become heavily reliant on China for machine tools and essential parts needed for arms manufacturing. This shift is largely due to the ongoing conflict in Ukraine, Western sanctions, and the country's challenges in implementing import substitution, which have heightened its dependence on Chinese supplies.
Mexico Metal-Mechanics Sector
Economic Contribution of Mexico's Metal-Mechanics Sector
The metal-mechanics sector plays a crucial role in Mexico's economy, contributing significantly to the country's manufacturing GDP. It has become a key supplier to various industries, positioning Mexico as the second-largest market for U.S. exports in this field. In recent years, a notable share of U.S. fabricated metal production and machinery exports has been directed to Mexico, highlighting the strong trade relationship between the two nations.
Mexico's market for fabricated metal parts is thriving, with substantial purchases making it one of the largest partners for U.S. exports in this segment. The country has built a robust supplier network of metal fabricators, ranging from large to small companies across its cities. However, only a few fabricators have attained advanced levels of sophistication or certifications like ISO, TS, or AS, which could further enhance their competitiveness.
Positioning of Major Players in Global Machine Tools Market, 2023
- CORE Industrial Partners Acquisition: In August 2024, CORE's PrecisionX Group acquired Ditron, Inc. to enhance high-speed micro precision stamping capabilities for various industries.
- Peak Toolworks Expansion: In February 2022, Peak Toolworks acquired Tooling Concepts Inc., adding a sharpening site in Indiana, strengthening its industrial tooling services in the Midwest.
- Ag Growth International Acquisition: In January 2022, Ag Growth International acquired Eastern Fabricators for CAD 29.25 million, with potential earn-outs based on financial performance.
- TRUMPF AI Partnership: In July 2024, TRUMPF partnered with SiMa.ai to integrate AI into its laser technology for welding, cutting, and 3D printing systems.
- DMG MORI Acquisition of KURAKI: In September 2023, DMG MORI acquired KURAKI, rebranding it as DMG MORI Precision Boring Co. Ltd.
- Amada's Long-term Vision 2030: In May 2022, Amada announced growth goals focused on sustainability, digital transformation, and globalization, aiming for JPY 500 billion in revenue by 2030.JTEKT Revenue Growth Strategies, 2020 – 2022 & 2030.
Makreo Research has recently published an extensive report titled “Global Machine Tools Market Size and Forecast (2019-2028) – Analysis by Metal Working Tools (Cutting & Forming), Technology (CNC & Conventional), End-User Applications, and Geography (APAC, Europe, North America).” This report offers a thorough examination of the global machine tools market, covering key regions including North America, Europe, and Asia-Pacific. It provides an in-depth review of both current and historical market performance, with a particular focus on the regulatory environments in major countries such as China, Japan, South Korea, India, Germany, France, the UK, Italy, the USA, and Canada.
The analysis highlights major players in the market, including prominent companies such as DMG Mori Seiki Co. Ltd., Mazak Corporation, Makino Milling, and Trumpf Inc, JTEKT Corporation. It features detailed profiles of these companies, including information on mergers and acquisitions, funding histories, and strategic developments.
Furthermore, the report explores global, national, and state-level regulations and their implications for the machine tools sector. It also addresses key logistical challenges, demographic trends, and other relevant factors that impact the market. This comprehensive analysis equips stakeholders and industry experts with valuable insights into the evolving dynamics of the machine tools industry, helping them navigate this critical and rapidly growing sector.
Period of Study
2019 - 2023: Past and Present Scenario
2024: Base year of study
2024 – 2028: Future Outlook
Regions and Countries Covered
Asia-Pacific (APAC): China, Japan, South Korea, India, Taiwan
Europe: Germany, France, the UK, Italy, Russia
North America: US, Canada, Mexico
Global Machine Tools Market Segmentation
By Geography
By Type
By Metal Working Machine Tools Market
By Applications
Competitive Landscape
Mergers and Acquisitions
Funding Timeline
Company Profiles
Companies Covered
DMG Mori Seiki Co. Ltd.
Okuma Corporation
Haas Automation
Yamazaki Mazak Corporation
Shenyang Machine Tool Group Corporation
Amada Co. Ltd.
FANUC Corporation and
JTEKT Corporation
Key Questions Answered
1. How has the global machine tools market historically performed across different regions, including North America, Europe and Asia-Pacific regions?
2. What are the major regulatory frameworks and legal standards governing the machine tools industry in North America, Europe and Asia-Pacific?
3. What are the primary logistical challenges and recent innovations in the global machine tools market?
4. How have the machine tools markets in key countries such as the United States, Germany, China, India, and Japan performed?
5. What are the most prevalent manufacturing applications impacting the machine tools market globally?
6 How do trends in manufacturing and industrial production impact the machine tools market in different regions?
7. What are the main factors affecting the cost structure of machine tools globally?
8. How has the COVID-19 pandemic influenced the machine tools market across various regions?
9. What are the future growth prospects and opportunities for the machine tools market in major countries across different continents?
10. What macroeconomic factors are significantly influencing the global machine tools market?
11. What key strategies are being adopted by leading machine tools companies to enhance efficiency and market position?
12. How do geopolitical and economic factors affect the machine tools market in different regions?
Table of Contents
321 Pages
- 1. Research Methodology
- 1.1. Market Definitions
- 1.2. Research Objective
- 1.3. Research Design and Procedure
- 1.4. Data Collection Methods
- 1.5. Methodology of Research
- 1.6. Analytical Framework
- 2. Global Manufacturing Market
- 2.1. Global Manufacturing Sector: An Overview
- 2.2. Major Countries in the Global Manufacturing Sector
- 2.3. Global Manufacturing Index
- 2.4. Global Manufacturing Sector R&D Spending
- 3. Global Machine Tools Market
- 3.1. Global Machine Tools Market: An Overview
- 3.2. Global Machine Tools Market Production
- 3.2.1. Global Machine Tools Market Production by Countries
- 3.2.2. Global Machine Tools Market Exports by Countries
- 3.2.3. Global Machine Tools Market Imports by Countries
- 3.2.4. Global Machine Tools Market Consumption by Countries
- 3.3. Global Machine Tools Market: Past and Present Performance
- 3.4. Global Leading Heavy Equipment Manufacturers
- 3.5. Global Machine Tools Market: by Geography
- 3.6. Global Machine Tools Market: by Technology
- 3.7. Global Machine Tools Market: by Type
- 3.7.1. Global Metal Working Machines Market: Past and Present Performance
- 3.7.1.1. Global Metal Forming Machine Tools Market Production
- 3.7.1.2. Global Metal Forming Market: Past and Present Performance
- 3.7.2. Global Metal Cutting Machine Tools Market Production
- 3.7.2.1. Global Metal Cutting Market: Past and Present Performance
- 3.7.2.2. Global Metal Cutting Market: Recent Acquisitions
- 3.8. Global Machine Tools Market: by End-User
- 3.8.1. Global Automotive Market Major Developments
- 3.8.2. Global Automotive Parts Trade: by Countries
- 3.8.3. Aerospace and Defense Industry Performance
- 4. Asia-Pacific Machine Tools Market
- 4.1. Asia-Pacific Machine Tools Market Past and Present Performance
- 4.1.1. Asia-Pacific Machine Tools Market: Recent Developments
- 4.2. Asia-Pacific Machine Tools Market Segmentation: by Geography
- 4.2.1. Asia-Pacific Machine Tools Market Segmentation: by Type
- 4.2.2. Asia-Pacific Machine Tools Market Segmentation: by Applications
- 4.3. China Machine Tools Market: An Overview
- 4.3.1. China Machine Tools Market: Past and Present Performance
- 4.3.2. China Machine Tools Market: Production
- 4.3.2.1. China Machine Tools Production: by Type
- 4.3.2.2. China Machine Tools Market: Consumption
- 4.3.3. China Machine Tools Market Segmentation: by Application
- 4.3.4. China Machine Tools: Imports
- 4.3.5. China Machine Tools: Exports
- 4.3.6. China Machine Tools Market Opportunities
- 4.4. Japan Machine Tools Market: An Overview
- 4.4.1. Japan Machine Tools Market: Manufacturing Trends
- 4.4.2. Japan Machine Tools Market: Production
- 4.4.3. Japan Machine Tools Market: Consumption
- 4.4.4. Japan Machine Tools: Exports
- 4.4.5. Japan Machine Tools: Imports
- 4.4.6. Japan Machine Tools Market: by Orders
- 4.4.6.1. Japan Machine Tools Orders: by Domestic & Foreign
- 4.4.6.2. Japan Machine Tools Orders: by Type of Machine
- 4.5. South Korea Machine Tools Market: An Overview
- 4.5.1. South Korea Machine Tools Market: Production
- 4.5.1.1. South Korea Machine Tools Production: by Type
- 4.5.2. South Korea Machine Tools Market: Consumption
- 4.5.3. South Korea Machinery Industry: Import and Exports
- 4.5.3.1. South Korea Machine Tools Market: Exports
- 4.5.3.2. South Korea Machine Tools Market: Imports
- 4.5.3.3. South Korea Machine Tools Market: by Orders
- 4.5.3.4. South Korea Machine Tools Orders by Products
- 4.5.3.5. South Korea Machine Tools Orders by Application
- 4.5.3.6. South Korea Foreign Investment in Machinery Sector
- 4.5.3.7. South Korea Machinery Clusters
- 4.6. India Machine Tools Market: An Overview
- 4.6.1. India Machine Tools Market: Production
- 4.6.2. India Machine Tools Market Segmentation: by Type (Metal Cutting & Metal Forming)
- 4.6.3. India Machine Tools Market: Consumption
- 4.6.4. India Machine Tools: Import and Export
- 4.6.4.1. India Machine Tools: Import
- 4.6.4.2. India Machine Tools: Export
- 4.6.5. India Machine Tools Manufacturing Clusters
- 4.6.6. India Machine Tools Market: Key Manufacturers
- 4.6.7. India Machine Tools Market: Government Initiatives and Policies
- 4.7. Taiwan Machine Tools Market: An Overview
- 4.7.1. Taiwan Machine Tools Market: Production
- 4.7.2. Taiwan Machine Tools Market: Consumption
- 4.7.3. Taiwan Machine Tools Market: Exports
- 4.7.4. Taiwan Machine Tools Market: Imports
- 4.7.5. Taiwan Machine Tools Manufacturing Clusters
- 4.8. Asia-Pacific Machine Tools Market Future Outlook
- 5. Europe Machine Tools Market
- 5.1. Europe Manufacturing Sector: An Overview
- 5.1.1. Europe Manufacturing Sector: by Geography
- 5.2. Europe Machine Tools Market: Past and Present Performance
- 5.2.1. Europe Machine Tools Market: Production
- 5.2.2. Europe Different Machinery Types Exports
- 5.2.3. Europe Machine Tools Market: Imports
- 5.2.4. Europe Machine Tools Market: Recent Developments
- 5.2.5. Europe Machine Tools Market Segmentation: by Geography
- 5.2.6. Europe Machine Tools Market Segmentation: by Type
- 5.2.7. Europe Metal Working Machine Tools Market Segmentation: by Type
- 5.2.8. Europe Machine Tools Market Segmentation: by Applications
- 5.3. United Kingdom Machine Tools Market: An Overview
- 5.3.1. United Kingdom Machine Tools Market: Past and Present Performance
- 5.3.2. United Kingdom Machine Tools Market: Production and Consumption Trends
- 5.3.3. United Kingdom Machine Tools Market: Import, Export and Sales Trends
- 5.3.3.1. United Kingdom Machine Tools Market: Import and Export
- 5.3.3.2. United Kingdom Machine Tools Market: Export
- 5.3.3.3. United Kingdom Machine Tools Market: Import
- 5.3.4. United Kingdom Metal Cutting Machine Tools Market: Import, Export and Sales Trends
- 5.3.4.1. United Kingdom Metal Cutting Machine Tools Market: Export
- 5.3.4.2. United Kingdom Metal Cutting Machine Tools Market: Import
- 5.3.4.3. United Kingdom Metal Cutting Machine Tools Market: Import and Export
- 5.4. Germany Machine Tools Market: An Overview
- 5.4.1. Germany Machine Tools Market: Production
- 5.4.2. Germany Machine Tools Market Production: by Type
- 5.4.3. Germany Metalworking Machine Tools Market Production: by Type
- 5.4.4. Germany Metal Cutting and Metal Forming Machine Tools Market Production
- 5.4.4.1. Germany Metal Cutting Machine Tools Market Production: by Technology
- 5.4.4.2. Germany Metal Forming Machine Tools Market Production: by Technology
- 5.4.5. Germany Machine Tools Market Production: by Geography
- 5.4.6. Germany Machine Tools Market Production: by Application
- 5.4.7. Germany Machine Tools Market: Past and Present Performance
- 5.4.7.1. Germany Machine Tools Market: Consumption
- 5.4.7.2. Germany Machine Tools Market: Orders
- 5.4.7.3. Germany Machine Tools Market: by Geography
- 5.4.7.4. Germany Machine Tools Market: Exports
- 5.4.7.5. Germany Metal Cutting and Metal Forming Machine Tools Exports
- 5.4.7.6. Germany Metal Cutting Machine Tools Exports
- 5.4.7.7. Germany Metal Forming Machine Tools Exports
- 5.4.7.8. Germany Machine Tools Exports: by Geography
- 5.4.7.9. Germany Machine Tools Exports: by Destination Countries
- 5.4.7.10. Germany Machine Tools Market: Imports
- 5.4.7.11. Germany Metal Cutting and Metal Forming Machine Tools Imports
- 5.4.7.12. Germany Metal Cutting Machine Tools Imports
- 5.4.7.13. Germany Metal Forming Machine Tools Imports
- 5.4.7.14. Germany Machine Tools Imports: by Geography
- 5.4.7.15. Germany Machine Tools Imports: by Source Countries
- 5.5. Italy Machine Tools Market: An Overview
- 5.5.1. Italy Machine Tools Market: Past and Present Performance
- 5.5.2. Italy Machine Tools Market: Machine Tool, Automation and Robot Industry Statistics
- 5.5.3. Italy Machine Tools Market: Production
- 5.5.4. Italy Machine Tools Market: Consumption
- 5.5.5. Italy Machine Tools Market: Exports
- 5.5.5.1. Italy Machine Tools Market Exports: by Countries
- 5.5.5.2. Italy Metal Cutting and Metal Forming Machine Tools Exports
- 5.5.6. Italy Machine Tools Market: Imports
- 5.5.6.1. Italy Metal Cutting and Metal Forming Machine Tools Imports
- 6. North America Machine Tools Market
- 6.1. North America Machine Tools Market: An Overview
- 6.1.1. North America Machine Tools Market Revenue: Past and Present Performance
- 6.1.2. North America Machine Tools Market: by Geography
- 6.1.1.1. North America Metal Working Machinery Market Revenue: Past and Present Performance
- 6.1.1.2. North America Metal Forming & Metal Cutting Market: Past and Present Performance
- 6.2. United States Machine Tools Market: Past and Present Performance
- 6.2.1. United States Machine Market Gross Output
- 6.2.2. United States Machine Tools Market: Import and Export
- 6.2.3. United States Total Manufacturing Technology Orders
- 6.2.4. United States Machine Tools Market: by Segmentation
- 6.2.4.1. United States Metal Forming Tools Market: Past and Present Performance
- 6.2.4.2. United States Metal Forming Tools Market: by Segmentation
- 6.2.4.3. United States Manufacturing Technology Orders: by Metal Forming & Metal Cutting
- 6.2.4.4. United States Metal Cutting Tools Market: Past and Present Performance
- 7. Global Machine Tools Market Competitive Landscape
- 7.1. Global Machine Tools Market Competitive Landscape
- 8. Global Machine Tools Market Mergers/Acquisitions/Investments/Divestments
- 8.1. Market Mergers /Acquisitions/ Investments/Disinvestments
- 9. Global Machine Tools Market Funding Timeline
- 9.1. Funding Timeline
- 10. Global Machine Tools Market Company Profiles
- 10.1. Company Profile: TRUMPF Inc.
- 10.2. Company Profile: DMG Mori Seiki Co. Ltd.
- 10.3. Company Profile: Yamazaki Mazak Corporation
- 10.4. Company Profile: Okuma Corporation
- 10.5. Company Profile: Haas Automation Inc.
- 10.6. Company Profile: Makino Milling Machine Co. Ltd.
- 10.7. Company Profile: Shenyang Machine Tool Group Corporation
- 10.8. Company Profile: Amada Co. Ltd.
- 10.9. Company Profile: FANUC Corporation
- 10.10. Company Profile: JTEKT Corporation
- 11. Global Machine Tools Market Challenges
- 11.1. Global Machine Tools Market Challenges
- 12. Global Machine Tools Market Opportunities
- 12.1. Global Machine Tools Market Opportunities
- 12.1.1. Global Machine Tools Market Opportunities – APAC
- 12.1.2. Global Machine Tools Market Opportunities – Middle East
- 12.1.3. Global Machine Tools Market Opportunities – Europe and South America
- 12.1.4. Global Machine Tools Market Opportunities – North America
- 13. Global Machine Tools Market Future Outlook
- 13.1. Global Machine Tools Market Future Outlook
- Limitations of the Study
Pricing
Currency Rates
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