Machine Tools Market Size, Trends and Insights By Type (Metal Cutting, Machining Centers, Turning Machines, Grinding Machines, Milling Machines, Eroding machines, Others, Metal Forming, Bending Machines, Presses, Punching Machines, Others), By Technology (Computer Numerical Control (CNC), Conventional), By End-use (Automotive, Mechanical Engineering, Metal Working, Aerospace, Electrical Industry, Others), and By Region - Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2024–2033
Report Snapshot
| Study Period: | 2024-2033 |
| Fastest Growing Market: | Asia-Pacific |
| Largest Market: | Europe |
Major Players
- Amada Machine Tools Co. Ltd.
- CHIRON GROUP SE
- DMG MORI. CO. LTD.
- DN Solutions
- Georg Fischer Ltd.
- Others
Reports Description
As per the current market research conducted by Custom Market Insight Team, the global Machine Tools market is expected to record a CAGR of 5.7% from 2023 to 2030. In 2023, the market size is projected to reach a valuation of US$ 87.94 billion. By 2030, the valuation is anticipated to reach US$ 137.02 billion.
The Machine Tools market refers to the industry involved in the production and sale of various tools and machines that are used in manufacturing processes. These tools and machines include a wide range of products such as cutting tools, drilling machines, grinding machines, milling machines, and turning machines, among others. Machine tools are used for shaping and machining materials such as metal, wood, and plastics to create products that are used in various industries such as automotive, aerospace, construction, and electronics, among others.
The Machine Tools market is driven by various factors such as increasing demand for high-precision products, advancements in technology, and the need for efficient production processes.
Machine Tools Market – Significant Growth Factors
The Machine Tools market is expected to witness significant growth due to various factors such as:
- Growing demand for automation: The increasing demand for automation in the manufacturing process is driving the growth of the Machine Tools market. The adoption of CNC machines and robots in the manufacturing process has improved productivity, accuracy, and efficiency, thereby driving the demand for Machine Tools.
- Advancements in technology: The development of new technologies such as additive manufacturing, IoT, and Industry 4.0 is driving the growth of the Machine Tools market. The integration of these technologies with Machine Tools has led to the development of more efficient, accurate, and flexible machines.
- Increasing demand for high-precision products: The demand for high-precision products is increasing in various industries such as aerospace, automotive, and medical devices. Machine Tools are essential in the production of such products, and this has led to an increased demand for Machine Tools.
- The rise in industrial automation: The increasing trend towards industrial automation is driving the growth of the Machine Tools market. Automated manufacturing processes require machines that can perform various tasks such as drilling, milling, and cutting with high precision, speed, and accuracy, and Machine Tools are an essential part of such processes.
- Growth in the aerospace and defense industry: The aerospace and defense industry requires high precision and complex components that can only be produced using advanced Machine Tools. The growth of this industry is driving the demand for Machine Tools.
Overall, the Machine Tools market is expected to witness significant growth due to the increasing demand for automation, advancements in technology, the need for high-precision products, the rise in industrial automation, and the growth of the aerospace and defense industry.
| Attributes | Value |
| Machine Tools Market Expected Value (2023) | US$ 87.94 billion |
| Machine Tools Market Forecast Value (2030) | US$ 137.02 billion |
| Machine Tools Market Expected CAGR (2023 to 2030) | 5.7% |
Machine Tools Market – Mergers and Acquisitions
The Machine Tools market has seen several mergers and acquisitions in recent years. Here are some notable examples:
- Sandvik AB’s acquisition of Hyperion Materials & Technologies: In 2019, Sandvik AB, a Swedish multinational engineering company, acquired Hyperion Materials & Technologies, a leading manufacturer of cemented carbide solutions used in the Machine Tools industry. The acquisition helped Sandvik AB to expand its product portfolio and strengthen its position in the Machine Tools market.
- Hurco Companies’ acquisition of Milltronics Manufacturing Company: In 2018, Hurco Companies, a US-based manufacturer of Machine Tools, acquired Milltronics Manufacturing Company, a leading manufacturer of CNC machines. The acquisition helped Hurco Companies to expand its product portfolio and strengthen its position in the CNC machine market.
- Fives’ acquisition of MAG Americas: In 2015, Fives, a French industrial engineering group, acquired MAG Americas, a US-based manufacturer of Machine Tools. The acquisition helped Fives to expand its product portfolio and strengthen its position in the Machine Tools market.
- Yamazaki Mazak’s acquisition of MegaStir: In 2014, Yamazaki Mazak, a Japanese manufacturer of Machine Tools, acquired MegaStir, a UK-based manufacturer of friction stir welding technology. The acquisition helped Yamazaki Mazak to expand its product portfolio and enter the friction stir welding market.
- DMG MORI’s acquisition of Realizer GmbH: In 2014, DMG MORI, a German manufacturer of Machine Tools, acquired Realizer GmbH, a leading manufacturer of 3D metal printing machines. The acquisition helped DMG MORI to enter the 3D printing market and expand its product portfolio.
Overall, mergers and acquisitions in the Machine Tools market have helped companies to expand their product portfolios, strengthen their positions in the market, and enter new markets.
COMPARATIVE ANALYSIS OF THE RELATED MARKET
| Machine Tools Market | Metaverse Market | Submarine Cable Market |
| CAGR 5.7% (Approx) | CAGR 41.2%
(Approx) |
10%
(Approx) |
| US$ 137.02 Billion by 2030 | USD 2,131.6 Billion by 2030 | USD 35 billion by 2030. |
Machine Tools Market – Significant Threats
The Machine Tools market faces various threats that can hinder its growth and development. Here are some significant threats:
- Economic slowdown: The Machine Tools market is highly dependent on economic conditions and can be affected by fluctuations in the global economy. A slowdown in the economy can lead to a decrease in demand for Machine Tools, affecting the growth of the market.
- Intense competition: The Machine Tools market is highly competitive, with several players vying for market share. Intense competition can lead to price wars, which can affect the profitability of companies.
- Technological obsolescence: The rapid pace of technological development in the Machine Tools industry can lead to the obsolescence of existing technologies. Companies that do not keep up with the latest technology trends risk losing market share to competitors who offer more advanced products.
- Supply chain disruptions: The Machine Tools market relies on a complex supply chain that can be disrupted by factors such as natural disasters, political instability, and trade disputes. These disruptions can lead to delays in the delivery of raw materials and components, affecting the production of Machine Tools.
- Regulatory challenges: The Machine Tools market is subject to various regulations and standards, such as safety regulations and environmental regulations. Companies that fail to comply with these regulations risk facing fines and penalties, which can affect their profitability.
Overall, the Machine Tools market faces various threats that can affect its growth and development, such as economic slowdowns, intense competition, technological obsolescence, supply chain disruptions, and regulatory challenges. Companies in the market need to develop strategies to mitigate these risks and stay competitive.
Report Scope
| Feature of the Report | Details |
| Market Size in 2023 | USD 87.94 Billion |
| Projected Market Size in 2030 | USD 137.02 Billion |
| Market Size in 2022 | USD 80.90 Billion |
| CAGR Growth Rate | 5.7% CAGR (2022-2030) |
| Base Year | 2023 |
| Forecast Period | 2024-2033 |
| Key Segment | By Type, Technology, End-use, and Region |
| Report Coverage | Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends |
| Regional Scope | North America, Europe, Asia Pacific, Middle East &, Africa, and South &, Central America |
| Buying Options | Request tailored purchasing options to fulfil your requirements for research. |
Category-Wise Insights
Type Insights:
The metal-cutting type segment dominated the Machine Tools market, accounting for 77.8% of the global revenue share in 2022. The segment comprises machining centers, turning machines, grinding machines, milling machines, eroding machines, and others. Metal cutting machines are used to remove excess material from workpieces by cutting or grinding, and are widely used in various industries such as automotive, mechanical engineering, metal working, and aerospace. They offer several benefits, including surface texture or finish, greater dimensional precision, complex shape, and desired size. The increasing demand for sophisticated automated metal-cutting tools is expected to drive market growth.
The metal forming machines segment is further divided into bending machines, presses, punching machines, and others, and is used in a variety of industries such as aerospace, automobile, energy, construction, electronics, and more. These machines are used for various procedures such as shearing, bending, pressing, shaping, and forming.
The use of press brake machinery is expected to drive this segment, as press brake metal forming machines are widely used as sheet bending tools in various industries such as agriculture, aerospace, shipbuilding, automotive, and petroleum machinery. The market for metal-forming machine tools is moderately fragmented, with key players focusing on developing cutting-edge technologies to provide superior products to end-user industries.
Technology Insights:
In 2022, the Computer Numerical Control (CNC) segment accounted for 85.8% of the global revenue share in the machine tools market. CNC machines, also known as “computer numerically controlled” tools, are advanced metalworking equipment that can produce the complex parts required by modern technology.
The use of CNC machines has rapidly expanded in recent years with the development of computers and can include milling machines, lathes, abrasive jet cutters, laser cutters, press brakes, punch presses, and other industrial tools. CNC machines receive orders from computer-aided design software and are divided into two main categories: point-to-point and continuous pathways. Some examples of CNC machinery include lathes, routers, mills, and plasma cutters.
Key manufacturers of CNC machines include Esskay International Machine Tools, Gedee Weiler, Gurmeet Machinery Corporation, and Jinagoudra Machine Tools Pvt. Ltd. The incorporation of programmable B axis into CNC machines, including CNC automatic convertible from Swiss-type machines to fixed machines, allows for material cost savings, as Swiss machines often leave a remnant of an expensive ground bar. This has resulted in an increasing demand for these machines.
Machine Tools Market – Regional Analysis
The machine tools market is analyzed across various regions, including North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
- The Asia Pacific region dominates the global machine tools market and is expected to continue its dominance during the forecast period. The region’s large market share can be attributed to the rapidly growing manufacturing industry, especially in countries like China and India. These countries have a significant demand for machine tools owing to the growth of various industries such as automotive, aerospace, electronics, and healthcare. Additionally, the increasing adoption of CNC machines and the availability of low-cost labor in the region are expected to drive market growth.
- Europe is the second-largest market for machine tools, owing to the presence of leading manufacturers and the high adoption of automation in the region’s manufacturing industry. The region is also focusing on reducing energy consumption, leading to the development of energy-efficient machines, which is expected to drive market growth.
- North America is another significant market for machine tools, with the United States being the major contributor to the market growth. The region’s growth is driven by the high demand for advanced and automated machine tools in the aerospace and defense industries.
- Latin America and the Middle East & Africa regions are also expected to witness significant growth during the forecast period, owing to the increasing investments in infrastructure development and the growth of the manufacturing sector.
Overall, the growth of the machine tools market is largely driven by the increasing demand for automation and the growing manufacturing industry worldwide
Competitive Landscape – Machine Tools Market
The global machine tools market is highly competitive and is dominated by several key players. The market players are engaged in various growth strategies, such as mergers and acquisitions, partnerships, collaborations, and new product launches to increase their market share and expand their geographic presence.
Some of the major players operating in the market are Amada Machine Tools Co., Ltd., CHIRON GROUP SE, DMG MORI. CO., LTD., DN Solutions, Georg Fischer Ltd., HYUNDAI WIA CORP, JTEKT Corporation, Komatsu Ltd, Makino, Okuma Corporation, Hurco Companies, Inc., Dalian Machine Tool Group (DMTG) Corporation, Amera Seiki, Haas Automation, Inc, Datron AG
These players have a strong global presence and offer a wide range of machine tools products. They focus on product innovation and R&D activities to introduce advanced machines with better efficiency and productivity. Moreover, the market players are also investing in expanding their distribution channels and strengthening their after-sales services to provide a better customer experience. They are also focusing on developing strategic partnerships and collaborations with end-use industries to enhance their market position. Overall, the machine tools market is highly competitive, and the market players are focusing on various strategies to maintain their market position and stay ahead of their competitors.
The Machine Tools Market is segmented as follows:
By Type Outlook
* Metal Cutting
- Machining Centers
- Turning Machines
- Grinding Machines
- Milling Machines
- Eroding machines
- Others
* Metal Forming
- Bending Machines
- Presses
- Punching Machines
- Others
By Technology Outlook
- Computer Numerical Control (CNC)
- Conventional
By End-use Outlook
- Automotive
- Mechanical Engineering
- Metal Working
- Aerospace
- Electrical Industry
- Others
By Region
North America
- U.S.
- Canada
- Mexico
- Rest of North America
Europe
- Germany
- France
- U.K.
- Italy
- Spain
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- New Zealand
- Australia
- South Korea
- Rest of Asia Pacific
The Middle East & Africa
- Saudi Arabia
- UAE
- Egypt
- Kuwait
- South Africa
- Rest of the Middle East & Africa
Latin America
- Brazil
- Argentina
- Rest of Latin America
Table of Contents
- Chapter 1. Preface
- 1.1 Report Description and Scope
- 1.2 Research scope
- 1.3 Research methodology
- 1.3.1 Market Research Type
- 1.3.2 Market research methodology
- Chapter 2. Executive Summary
- 2.1 Global Machine Tools Market, (2024 – 2030) (USD Billion)
- 2.2 Global Machine Tools Market : snapshot
- Chapter 3. Global Machine Tools Market – Industry Analysis
- 3.1 Machine Tools Market: Market Dynamics
- 3.2 Market Drivers
- 3.2.1 Increasing demand for automation in the manufacturing process
- 3.2.2 The development of new technologies such as additive manufacturing IoT and Industry 4.0
- 3.2.3 Demand for high precision products is increasing in various industries such as aerospace, automotive and medical devices
- 3.2.4 Increasing trend towards industrial automation
- 3.2.5 Growth in the aerospace and defense industry.
- 3.3 Market Restraints
- 3.4 Market Opportunities
- 3.5 Market Challenges
- 3.6 Porter’s Five Forces Analysis
- 3.7 Market Attractiveness Analysis
- 3.7.1 Market attractiveness analysis By Outlook
- 3.7.2 Market attractiveness analysis By Technology
- 3.7.3 Market attractiveness analysis By End-use
- Chapter 4. Global Machine Tools Market- Competitive Landscape
- 4.1 Company market share analysis
- 4.1.1 Global Machine Tools Market: company market share, 2022
- 4.2 Strategic development
- 4.2.1 Acquisitions & mergers
- 4.2.2 New Product launches
- 4.2.3 Agreements, partnerships, cullaborations, and joint ventures
- 4.2.4 Research and development and Regional expansion
- 4.3 Price trend analysis
- 4.1 Company market share analysis
- Chapter 5. Global Machine Tools Market – Outlook Analysis
- 5.1 Global Machine Tools Market overview: By Outlook
- 5.1.1 Global Machine Tools Market share, By Outlook , 2022 and 2030
- 5.2 Metal Cutting
- 5.2.1 Global Machine Tools Market by Metal Cutting, 2024 – 2030 (USD Billion)
- 5.3 Machining Centers
- 5.3.1 Global Machine Tools Market by Machining Centers, 2024 – 2030 (USD Billion)
- 5.4 Turning Machines
- 5.4.1 Global Machine Tools Market by Turning Machines, 2024 – 2030 (USD Billion)
- 5.5 Grinding Machines
- 5.5.1 Global Machine Tools Market by Grinding Machines, 2024 – 2030 (USD Billion)
- 5.6 Milling Machines
- 5.6.1 Global Machine Tools Market by Milling Machines, 2024 – 2030 (USD Billion)
- 5.7 Eroding machines
- 5.7.1 Global Machine Tools Market by Eroding machines, 2024 – 2030 (USD Billion)
- 5.8 Metal Forming
- 5.8.1 Global Machine Tools Market by Metal Forming, 2024 – 2030 (USD Billion)
- 5.9 Bending Machines
- 5.9.1 Global Machine Tools Market by Bending Machines, 2024 – 2030 (USD Billion)
- 5.10 Presses
- 5.10.1 Global Machine Tools Market by Presses, 2024 – 2030 (USD Billion)
- 5.11 Punching Machines
- 5.11.1 Global Machine Tools Market by Punching Machines, 2024 – 2030 (USD Billion)
- 5.12 Others
- 5.12.1 Global Machine Tools Market by Others, 2024 – 2030 (USD Billion)
- 5.1 Global Machine Tools Market overview: By Outlook
- Chapter 6. Global Machine Tools Market – Technology Analysis
- 6.1 Global Machine Tools Market overview: By Technology
- 6.1.1 Global Machine Tools Market share, By Technology, 2022 and 2030
- 6.2 Computer Numerical Control (CNC)
- 6.2.1 Global Machine Tools Market by Computer Numerical Control (CNC), 2024 – 2030 (USD Billion)
- 6.3 Conventional
- 6.3.1 Global Machine Tools Market by Conventional, 2024 – 2030 (USD Billion)
- 6.1 Global Machine Tools Market overview: By Technology
- Chapter 7. Global Machine Tools Market – End-use Analysis
- 7.1 Global Machine Tools Market overview: By End-use
- 7.1.1 Global Machine Tools Market share, By End-use, 2022 and 2030
- 7.2 Automotive
- 7.2.1 Global Machine Tools Market by Automotive, 2024 – 2030 (USD Billion)
- 7.3 Mechanical Engineering
- 7.3.1 Global Machine Tools Market by Mechanical Engineering, 2024 – 2030 (USD Billion)
- 7.4 Metal Working
- 7.4.1 Global Machine Tools Market by Metal Working, 2024 – 2030 (USD Billion)
- 7.5 Aerospace
- 7.5.1 Global Machine Tools Market by Aerospace, 2024 – 2030 (USD Billion)
- 7.6 Electrical Industry
- 7.6.1 Global Machine Tools Market by Electrical Industry, 2024 – 2030 (USD Billion)
- 7.7 Others
- 7.7.1 Global Machine Tools Market by Others, 2024 – 2030 (USD Billion)
- 7.1 Global Machine Tools Market overview: By End-use
- Chapter 8. Machines Tools Market – Regional Analysis
- 8.1 Global Machines Tools Market Regional Overview
- 8.2 Global Machines Tools Market Share, by Region, 2022 & 2030 (USD Billion)
- 8.3. North America
- 8.3.1 North America Machines Tools Market, 2024 – 2030 (USD Billion)
- 8.3.1.1 North America Machines Tools Market, by Country, 2024 – 2030 (USD Billion)
- 8.3.1 North America Machines Tools Market, 2024 – 2030 (USD Billion)
- 8.4 North America Machines Tools Market, by Outlook , 2024 – 2030
- 8.4.1 North America Machines Tools Market, by Outlook , 2024 – 2030 (USD Billion)
- 8.5 North America Machines Tools Market, by Technology, 2024 – 2030
- 8.5.1 North America Machines Tools Market, by Technology, 2024 – 2030 (USD Billion)
- 8.6 North America Machines Tools Market, by End-use, 2024 – 2030
- 8.6.1 North America Machines Tools Market, by End-use, 2024 – 2030 (USD Billion)
- 8.7. Europe
- 8.7.1 Europe Machines Tools Market, 2024 – 2030 (USD Billion)
- 8.7.1.1 Europe Machines Tools Market, by Country, 2024 – 2030 (USD Billion)
- 8.7.1 Europe Machines Tools Market, 2024 – 2030 (USD Billion)
- 8.8 Europe Machines Tools Market, by Outlook , 2024 – 2030
- 8.8.1 Europe Machines Tools Market, by Outlook , 2024 – 2030 (USD Billion)
- 8.9 Europe Machines Tools Market, by Technology, 2024 – 2030
- 8.9.1 Europe Machines Tools Market, by Technology, 2024 – 2030 (USD Billion)
- 8.10 Europe Machines Tools Market, by End-use, 2024 – 2030
- 8.10.1 Europe Machines Tools Market, by End-use, 2024 – 2030 (USD Billion)
- 8.11. Asia Pacific
- 8.11.1 Asia Pacific Machines Tools Market, 2024 – 2030 (USD Billion)
- 8.11.1.1 Asia Pacific Machines Tools Market, by Country, 2024 – 2030 (USD Billion)
- 8.11.1 Asia Pacific Machines Tools Market, 2024 – 2030 (USD Billion)
- 8.12 Asia Pacific Machines Tools Market, by Outlook , 2024 – 2030
- 8.12.1 Asia Pacific Machines Tools Market, by Outlook , 2024 – 2030 (USD Billion)
- 8.13 Asia Pacific Machines Tools Market, by Technology, 2024 – 2030
- 8.13.1 Asia Pacific Machines Tools Market, by Technology, 2024 – 2030 (USD Billion)
- 8.14 Asia Pacific Machines Tools Market, by End-use, 2024 – 2030
- 8.14.1 Asia Pacific Machines Tools Market, by End-use, 2024 – 2030 (USD Billion)
- 8.15. Latin America
- 8.15.1 Latin America Machines Tools Market, 2024 – 2030 (USD Billion)
- 8.15.1.1 Latin America Machines Tools Market, by Country, 2024 – 2030 (USD Billion)
- 8.15.1 Latin America Machines Tools Market, 2024 – 2030 (USD Billion)
- 8.16 Latin America Machines Tools Market, by Outlook , 2024 – 2030
- 8.16.1 Latin America Machines Tools Market, by Outlook , 2024 – 2030 (USD Billion)
- 8.17 Latin America Machines Tools Market, by Technology, 2024 – 2030
- 8.17.1 Latin America Machines Tools Market, by Technology, 2024 – 2030 (USD Billion)
- 8.18 Latin America Machines Tools Market, by End-use, 2024 – 2030
- 8.18.1 Latin America Machines Tools Market, by End-use, 2024 – 2030 (USD Billion)
- 8.19. The Middle-East and Africa
- 8.19.1 The Middle-East and Africa Machines Tools Market, 2024 – 2030 (USD Billion)
- 8.19.1.1 The Middle-East and Africa Machines Tools Market, by Country, 2024 – 2030 (USD Billion)
- 8.19.1 The Middle-East and Africa Machines Tools Market, 2024 – 2030 (USD Billion)
- 8.20 The Middle-East and Africa Machines Tools Market, by Outlook , 2024 – 2030
- 8.20.1 The Middle-East and Africa Machines Tools Market, by Outlook , 2024 – 2030 (USD Billion)
- 8.21 The Middle-East and Africa Machines Tools Market, by Technology, 2024 – 2030
- 8.21.1 The Middle-East and Africa Machines Tools Market, by Technology, 2024 – 2030 (USD Billion)
- 8.22 The Middle-East and Africa Machines Tools Market, by End-use, 2024 – 2030
- 8.22.1 The Middle-East and Africa Machines Tools Market, by End-use, 2024 – 2030 (USD Billion)
- Chapter 9. Company Profiles
- 9.1 Amada Machine Tools Co. Ltd.
- 9.1.1 Overview
- 9.1.2 Financials
- 9.1.3 Product Portfolio
- 9.1.4 Business Strategy
- 9.1.5 Recent Developments
- 9.2 CHIRON GROUP SE
- 9.2.1 Overview
- 9.2.2 Financials
- 9.2.3 Product Portfolio
- 9.2.4 Business Strategy
- 9.2.5 Recent Developments
- 9.3 DMG MORI. CO. LTD.
- 9.3.1 Overview
- 9.3.2 Financials
- 9.3.3 Product Portfolio
- 9.3.4 Business Strategy
- 9.3.5 Recent Developments
- 9.4 DN Solutions
- 9.4.1 Overview
- 9.4.2 Financials
- 9.4.3 Product Portfolio
- 9.4.4 Business Strategy
- 9.4.5 Recent Developments
- 9.5 Georg Fischer Ltd.
- 9.5.1 Overview
- 9.5.2 Financials
- 9.5.3 Product Portfolio
- 9.5.4 Business Strategy
- 9.5.5 Recent Developments
- 9.6 HYUNDAI WIA CORP
- 9.6.1 Overview
- 9.6.2 Financials
- 9.6.3 Product Portfolio
- 9.6.4 Business Strategy
- 9.6.5 Recent Developments
- 9.7 JTEKT Corporation
- 9.7.1 Overview
- 9.7.2 Financials
- 9.7.3 Product Portfolio
- 9.7.4 Business Strategy
- 9.7.5 Recent Developments
- 9.8 Komatsu Ltd
- 9.8.1 Overview
- 9.8.2 Financials
- 9.8.3 Product Portfolio
- 9.8.4 Business Strategy
- 9.8.5 Recent Developments
- 9.9 Makino
- 9.9.1 Overview
- 9.9.2 Financials
- 9.9.3 Product Portfolio
- 9.9.4 Business Strategy
- 9.9.5 Recent Developments
- 9.10 Okuma Corporation
- 9.10.1 Overview
- 9.10.2 Financials
- 9.10.3 Product Portfolio
- 9.10.4 Business Strategy
- 9.10.5 Recent Developments
- 9.11 Hurco Companies Inc.
- 9.11.1 Overview
- 9.11.2 Financials
- 9.11.3 Product Portfolio
- 9.11.4 Business Strategy
- 9.11.5 Recent Developments
- 9.12 Dalian Machine Tool Group (DMTG) Corporation
- 9.12.1 Overview
- 9.12.2 Financials
- 9.12.3 Product Portfolio
- 9.12.4 Business Strategy
- 9.12.5 Recent Developments
- 9.13 Amera Seiki
- 9.13.1 Overview
- 9.13.2 Financials
- 9.13.3 Product Portfolio
- 9.13.4 Business Strategy
- 9.13.5 Recent Developments
- 9.14 Haas Automation Inc
- 9.14.1 Overview
- 9.14.2 Financials
- 9.14.3 Product Portfolio
- 9.14.4 Business Strategy
- 9.14.5 Recent Developments
- 9.15 Datron AG
- 9.15.1 Overview
- 9.15.2 Financials
- 9.15.3 Product Portfolio
- 9.15.4 Business Strategy
- 9.15.5 Recent Developments
- 9.1 Amada Machine Tools Co. Ltd.
List Of Figures
Figures No 1 to 35
List Of Tables
Tables No 1 to 77
Report Methodology
In order to get the most precise estimates and forecasts possible, Custom Market Insights applies a detailed and adaptive research methodology centered on reducing deviations. For segregating and assessing quantitative aspects of the market, the company uses a combination of top-down and bottom-up approaches. Furthermore, data triangulation, which examines the market from three different aspects, is a recurring theme in all of our research reports. The following are critical components of the methodology used in all of our studies:
Preliminary Data Mining
On a broad scale, raw market information is retrieved and compiled. Data is constantly screened to make sure that only substantiated and verified sources are taken into account. Furthermore, data is mined from a plethora of reports in our archive and also a number of reputed & reliable paid databases. To gain a detailed understanding of the business, it is necessary to know the entire product life cycle and to facilitate this, we gather data from different suppliers, distributors, and buyers.
Surveys, technological conferences, and trade magazines are used to identify technical issues and trends. Technical data is also gathered from the standpoint of intellectual property, with a focus on freedom of movement and white space. The dynamics of the industry in terms of drivers, restraints, and valuation trends are also gathered. As a result, the content created contains a diverse range of original data, which is then cross-validated and verified with published sources.
Statistical Model
Simulation models are used to generate our business estimates and forecasts. For each study, a one-of-a-kind model is created. Data gathered for market dynamics, the digital landscape, development services, and valuation patterns are fed into the prototype and analyzed concurrently. These factors are compared, and their effect over the projected timeline is quantified using correlation, regression, and statistical modeling. Market forecasting is accomplished through the use of a combination of economic techniques, technical analysis, industry experience, and domain knowledge.
Short-term forecasting is typically done with econometric models, while long-term forecasting is done with technological market models. These are based on a synthesis of the technological environment, legal frameworks, economic outlook, and business regulations. Bottom-up market evaluation is favored, with crucial regional markets reviewed as distinct entities and data integration to acquire worldwide estimates. This is essential for gaining a thorough knowledge of the industry and ensuring that errors are kept to a minimum.
Some of the variables taken into account for forecasting are as follows:
• Industry drivers and constraints, as well as their current and projected impact
• The raw material case, as well as supply-versus-price trends
• Current volume and projected volume growth through 2030
We allocate weights to these variables and use weighted average analysis to determine the estimated market growth rate.
Primary Validation
This is the final step in our report’s estimating and forecasting process. Extensive primary interviews are carried out, both in-person and over the phone, to validate our findings and the assumptions that led to them.
Leading companies from across the supply chain, including suppliers, technology companies, subject matter experts, and buyers, use techniques like interviewing to ensure a comprehensive and non-biased overview of the business. These interviews are conducted all over the world, with the help of local staff and translators, to overcome language barriers.
Primary interviews not only aid with data validation, but also offer additional important insight into the industry, existing business scenario, and future projections, thereby improving the quality of our reports.
All of our estimates and forecasts are validated through extensive research work with key industry participants (KIPs), which typically include:
• Market leaders
• Suppliers of raw materials
• Suppliers of raw materials
• Buyers.
The following are the primary research objectives:
• To ensure the accuracy and acceptability of our data.
• Gaining an understanding of the current market and future projections.
Data Collection Matrix
| Perspective | Primary research | Secondary research |
| Supply-side |
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| Demand-side |
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Market Analysis Matrix
| Qualitative analysis | Quantitative analysis |
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Prominent Players
FAQs
“Asia Pacific” region will lead the global Machine Tools market during the forecast period 2023 to 2030.
The key factors driving the market are increasing demand for automation in the manufacturing process, The development of new technologies such as additive manufacturing, IoT, and Industry 4.0, demand for high precision products is increasing in various industries such as aerospace, automotive, and medical devices, increasing trend towards industrial automation and Growth in the aerospace and defense industry.
The key players operating in the Machine Tools market are Amada Machine Tools Co. Ltd., CHIRON GROUP SE, DMG MORI. CO. LTD., DN Solutions, Georg Fischer Ltd., HYUNDAI WIA CORP, JTEKT Corporation, Komatsu Ltd, Makino, Okuma Corporation, Hurco Companies Inc., Dalian Machine Tool Group (DMTG) Corporation, Amera Seiki, Haas Automation Inc, Datron AG
The global Machine Tools market is expanding growth with a CAGR of approximately 5.7% during the forecast period (2023 to 2030).
The global Machine Tools market size was valued at USD 87.94 Billion in 2021 and it is projected to reach around USD 137.02 Billion by 2030.