Dublin, Oct. 30, 2023 (GLOBE NEWSWIRE) -- The "Machine Tools Industry Outlook to 2030" report has been added to ResearchAndMarkets.com's offering.
The global machine tools market is on an upward trajectory, with a robust growth projection that envisions it reaching a staggering $113.6 billion by the year 2030. In 2022, the market was estimated at $77.1 billion. This substantial expansion, set at a CAGR of 5% from 2022 to 2030, is driven by several key factors and an analysis of specific segments within the industry.
Quick Summary
Shaping the modern manufacturing landscape, the global Machine Tools industry is poised for significant growth, offering a multibillion-dollar opportunity for businesses and investors. With technologies to boost efficiency in a range of sectors from automotive to aerospace, the Machine Tools market is set to become an influential player in the industrial ecosystem.
This comprehensive market research report provides critical insights into key market trends, potential drivers of growth, and untapped opportunities in the Machine Tools market. Segmented analysis offers a detailed picture of various sectors, including Machining Centers and Lathe Machines, both exhibiting strong growth rates. Detailed analysis of major markets such as the US and China lends a regional perspective, enhanced by insights into other burgeoning markets.
Business leaders will find invaluable insights mapping the competitive landscape with a focus on key competitors. A rich discussion of the global economic climate, market sentiment, and global competitiveness make this research an essential guide in navigating the Machine Tools market. Gain access to exclusive content including videos, interviews, and much more, all created to illuminate market trends and provide robust strategic direction.
Machining Centers and Lathe Machines Lead the Way
Machining Centers, a pivotal segment in the machine tools industry, are anticipated to grow at a significant CAGR of 4.7% during the forecast period, ultimately reaching a market value of $24.6 billion. Meanwhile, the Lathe Machines segment is poised for steady growth with an estimated CAGR of 5.5% over the next eight years.
U.S. Market Valued at $7.6 Billion, China's Rapid Expansion
In 2022, the United States accounted for an estimated $7.6 billion within the machine tools market. However, China, the world's second-largest economy, is expected to undergo an impressive transformation, projecting a market size of $41.6 billion by 2030, with a CAGR of 5.5% from 2022 to 2030. Noteworthy growth is also expected in Japan and Canada, with anticipated CAGRs of 3.7% and 4.6%, respectively, over the 2022-2030 period. In Europe, Germany is projected to grow at a substantial 4% CAGR.
Key Competitors in the Machine Tools Industry
The machine tools market is highly competitive, with numerous players vying for market share. Among the notable competitors are:
- Ajax Machine Tools International Limited
- Accurate Bushing Co. Inc. (Smith Bearing)
- 600Group PLC
- Absolute Machine Tools, Inc.
- AKS Cutting Systems
- Alesa AG
- Alesamonti Srl
- Accurl
- Accuway Machinery Co. Ltd.
- Ace Micromatic Group
- AIDA Engineering Ltd.
- Akira Seiki Co. Ltd.
- AKE Knebel GmbH & Company KG
- A Innovative International Ltd.
- Ace Aquatec Limited
Key Attributes
| Report Attribute | Details |
| No. of Pages | 1150 |
| Forecast Period | 2022-2030 |
| Estimated Market Value (USD) in 2022 | $77.1 Billion |
| Forecasted Market Value (USD) by 2030 | $113.6 Billion |
| Compound Annual Growth Rate | 5% |
| Regions Covered | Global |
Key Topics Covered
I. METHODOLOGY
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- From Pandemic to War & Inflation: "Gloomy Outlook for 2023 Despite Signs of Easing Inflationary Conditions"
- Here's How Inflationary Pressures Affect the Economy
- Russia-Ukraine War, the Primary Culprit Responsible for the Hardships
- Although Past Peak in 2023, Efforts to Solve the Inflation Puzzle Should Continue
- Here's What's Causing Inflationary Pressures in the Global Market
- Shaken by the War, Global Oil Prices Spiral and Feed Inflationary Pressures, Guiding the World Towards a Cost of Living Crisis
- Slower Than Anticipated Decline Makes Inflation a Stickier Than Expected Problem to Solve in 2023: Global Inflation Rates (In %) for the Years 2019 Through 2024
- Global Economy Faces a Tough Climb Towards Recovery Made Rockier by the War, Anti-Inflation Fiscal Policies & Slower Than Desirable Easing of Inflationary Pressures
- Recession Triggered by Uncontrolled Inflation or Unemployment, Which is the Greater Evil? Inflation Battling Policy Measures to Slowdown Post Pandemic Recovery in Unemployment Rates
- Competitive Scenario: A Fragmented Marketplace
- Machine Tool Manufacturers Bet on Technology to Come Out of the Woods
- Vendors Emphasize Product Innovations & Enhancements to Maintain Competitive Edge
- Service & Support Emerge as Prime Focus Areas
- Product Pricing Continues to be Key Business Strategy
- Vendors Reinforce Distribution Channels
- Machine Tools: Market Fortunes Closely Linked to Manufacturing Sector & Economic Environment
- Outlook: Long-Term Growth Prospects Remain Optimistic
- Trends, Technology & Pain Points: What Lies Ahead for Machine Tools Industry?
- Industry 4.0 and its Impact on Machine Tools Industry
- A Review of Market Performance over the Past Decade and a Half
- An Introduction to Machine Tools
- Key Product Segments
- Segmentation by Machine Price & Precision
- Key End Use Sectors
- Recent Market Activity
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
- Reshoring Drives Growth Prospects in Developed Markets
- Rapid Mushrooming of Job Shops in Developing Countries Poised to Benefit Machine Tools
- Automotive Production in Developing Countries Augurs Well for Machine Tools
- Recap of COVID-19 Impact on the Automotive Industry in 2020
- Outlook Remains Positive
- Switch to Electric Vehicles (EVs) May Affect Demand of Machine Tools
- Aerospace Industry: COVID-19 Plays Spoilsport to Airlines Market Affecting the Machine Tool Industry
- Emphasis on Specialized Aerospace Materials to Spur Demand for Sophisticated Machine Tools
- Overcoming Aerospace Machining Challenges with the Right Machining Tools
- Recovery in Construction Activity Offers Growth Opportunities
- Waterjet Cutting Machines Eliminates Various Risks in Stone & Tile Cutting
- Pandemic Effect on the Construction Industry
- Projected Long-Term Growth in the Semiconductor Industry to Drive Future Demand
- Impact of COVID-19 on Electrical Equipment & Consumer Electronics Industry
- Heavy Equipment/Machinery Manufacturing Industry Promises Bright Prospects
- Developments in Renewable Energy Help Spur Market Opportunities
- Technology Refinements Boost Demand for Numerical Control (NC) Machine Tools
- Advent of 3D-Printing Machines: Marks the Emergence of Next Generation Machine Tools
- Steady Growth Anticipated for Multitasking Machine Tools
- Smart Machines Grow in Popularity
- Smart Cutting Tools for State of the Art Manufacturing
- Smart Machining Centers Become Pivotal to COVID-19-Led Shift Towards Smart Manufacturing
- Impact of Pandemic on CNC Machines
- CNC Systems Become Smarter with Technology-Driven Developments
- AI & Machine Learning: En-Route to Disrupt CNC Machine Tools
- AI Eliminates Guesswork and Improves Learning for Machine Tools
- Adoption of Predictive Analytics Drives Market Growth
- Wide-ranging Benefits Fueling Demand for CNC Machine Tools
- CNC Machines Finds Application in Wide Spectrum of Application Areas
- CNC Machines Help Improve Performance and Productivity
- Retrofit Market Keeps CNC Machinery Sales Alive
- Robotic-Assisted Technology and Automation Spurs Growth
- Trends Across Major Product Markets
- Metal Cutting Tools Market: An Overview
- Steady Growth Predicted for Metal Cutting Machines Market over the Long Term
- Surging Automation in End-Use Industries Drive Growth in the Global Lathe Machines Market
- Carbide Tools: Most Sought After
- High Speed Steel Cutting Tools: Hopes Pinned onto Powder Metallurgical HSS to Spearhead Growth
- Rising Popularity of Carbon Fiber-Reinforced Polymers Bodes Well for Advanced Cutting Tools
- Innovative Pricing Strategies: Need of the Hour for Cutting Tool Vendors
- Grinding Machines Market: An Overview
- Strong Opportunities in Orthopedic Implant Manufacturing over the Long Term
- Advanced Grinding Techniques Spearhead Growth
- Shortage of Skilled Labor Drives Automation Trends in Grinding Machinery
- Digitalization and the Future of Machining
- Metal Forming Machine Tools: An Overview
- Laser Cutting Machines Market: An Overview
- Asia-Pacific to Drive Market for Laser Cutting Machine Tools
- Ultrashort Pulsed Laser Technology Gains Popularity
- Fiber Laser Technology Gains Prominence at the Expense of CO2 Laser Technology
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
UNITED STATES
- Machine Tools Market in the US: An Overview
- Amidst COVID-19 Crisis, Manufacturing Activities Come to a Halt
- America's Cutting Edge Approach for Enhancing Functioning of Machine Tools Sector
- Machine Tools Vital for Defense Manufacturing Activities
- Cutting Tools Market: Overview
CANADA
- Machine Tools Industry: An Overview
- Aerospace Industry Vital for Canadian Machine Tools Market
- Distribution Channels
JAPAN
- Japan: A Major Machine Tools Market
- Trade War and the Pandemic Impact
- A Key Import Market for High Performance Machines
- Market Structure
CHINA
- China's Machine Tools Exhibits Downward Trend
- Manufacturing Industry Output Value Growth (%) in China for the Years 2019 through 2024
- End-Use Industry Dynamics to Determine Machine Tools Demand Trends in China
- China's Prominence as World's Manufacturing Hub Contributes to Leadership
- Automotive Industry Trends Set the Tone for Machine Tools Market
- Chinese Military Modernization Augurs Well for Machine Tool Industry
- Market Structure
- Chinese Machine Tools Market: Percentage Breakdown of Sales Revenue by Tool Makers for 2023E
- Chinese Machine Tools Market: Percentage Share Breakdown of Ownership by Tool Makers for 2023E
- Challenges Ahead
EUROPE
- European Machine Tools Industry: An Overview
- HSK Tooling Standard
- Applications of HSK Technology
INDIA
- Machine Tools Market in India: An Overview
- Factors Affecting the Industry
- Pandemic Impact on Indian Machine Tools Market
- Increased Adoption of CNC-based Tools and Make-in-India Initiative: Long Term Growth Opportunities
- Indigenization of Defense Systems Boosts Prospects for Machine Tools Market
- Indian Machine Tools Industry Preps Up to Support Exports Demand
- Outsourcing Market Posts Gains
- Industry Structure
- Indian Machine Tools Market: Percentage Share Breakdown of Value Production by Region for 2023E
AND OTHER REGIONS
IV. COMPETITION
For more information about this report visit https://www.researchandmarkets.com/r/2laqd7
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